>Hungary -- we don't hear about any more…

Would it help if you heard it straight from the horse's mouth?

DENVER, CO April 11, 2011 - Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Company") today announced the completion of its private placement……

Macaulay, CEO of Falcon commented

"I am gratified that our existing major shareholders continue to demonstrate their support of the company's tremendous potential, and with the substantial participation on the part of our management and directors. This funding secures our plans to fully test the Shenandoah well in Australia while continuing to evaluate our properties in Hungary and South Africa."

http://www.falconoilandgas.com/news/release.php?id=91

From FALCON OIL & GAS LTD. ANNUAL INFORMATION FORM filed May 2, 2011

Employees

As at December 31, 2010, Falcon, Makó and TXM together employed a total of 23 full-time employees and consultants, of which 11 individuals operated from the Company’s headquarter offices in Denver, Colorado and 12 individuals were located in Hungary, supporting administrative operations in Budapest and field operations in Szeged. As at May 2, 2011, Falcon, Makó and TXM together employed a total of 20 full-time employees and consultants, of which 10 individuals operated from the Company’s headquarter offices in Denver, Colorado and 10 individuals were located in Hungary, supporting administrative operations in Budapest and field operations in Szeged. In addition to these employees, the Company also retains consultants and other highly skilled professionals as needed for the Hungary Project and other aspects of its operations. None of the Company’s employees are part of a collective bargaining unit. Management believes that its relations with its employees are good.

Surely you don’t believe that there are 10 employees in Hungary doing nothing?

In fact they are working on the Hungarian Project.

Future Operations

Future operations in the Makó Trough are subject to further technical evaluation by the Company. Operations within the Production License are also subject to ongoing efforts to enter into joint venture arrangements to evaluate the Algyő, Szolnok, Endrőd and Basal Conglomerate formations.