VANCOUVER, British Columbia, May 19, 2006 (PRIMEZONE) -- As part of the commitment of Falcon Energy, Inc. (Pink Sheets:FCYI), a Nevada Corporation, to keep investors informed of its status and activities, the company is providing this investor update.
Gas production continues steadily from Falcon Energy's Richmount Westlock property in Alberta, Canada. This opportunity has proven itself out as the property and investment have benefited from the surge in natural gas prices since the well was first tied in May of 2005. The market price (NYMEX) for natural gas at that time was approximately $6.50 per MMBTU but in the last year prices stayed over 10.00 per MMBTU for a 5 month period with several spikes above the $14.00 range. The company is pleased that the investment continues to provide consistent revenue for the company and its shareholders.
Falcon Energy Inc. has also announced that due to the confirmed addition of its mining exploration properties in Mongolia, that it will shortly be expanding the executive team to assist in managing this new opportunity. Details will be forthcoming.
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.