HOUSTON, May 19, 2006 (PRIMEZONE) -- Falcon Natural Gas Corp. (OTCBB:FNGC) announced today that the first well of their planned drilling project, located in Bee County, Texas, reached total depth on May 6, 2006 and has been cased for completion.
The Wilson (NV-1) well reached a total depth of 14,821 feet and has been logged and evaluated; casing has been run for completion operations. Falcon Natural Gas Corp, Vincent Oil and Gas Corp. and other partners have all elected to participate in the completion, which will commence as soon as a completion rig is contracted. Based on the evaluations, we expect a total of 207 feet of gross pay in the targeted formations, Queen City and Wilcox. Both formations have an excellent track record in this area.
Falcon Natural Gas Corp. has purchased 16% of the working interest in the NV-1 Well, Norman Prospect. Falcon also will pay 16% of all well costs and G&G costs, third-party prospect fees, land brokerage costs, lease bonus and all other similar costs of the prospect.
The drilling area in central south Texas was chosen because of its location within one of the larger natural gas-producing areas of North America. The comprehensive infrastructure and enormous industrial resources make it an ideal drilling area.
Falcon Natural Gas Corporation, based in Houston, is a Natural Gas Exploration Company focused on the acquisition and exploration of commercial prospects in onshore areas of the USA. For more information, visit www.falcongas.com.
Founded in 1983, Vincent Oil and Gas Corp. is a private energy company with offices in Denver, Colorado; Houston, Texas; and Carson City, Nevada. The company is actively engaged in the drilling and development of natural gas and oil prospects in the continental United States, with primary focus on natural gas in the Mid-Continent, Rocky Mountain, and Gulf Coast regions. www.VincentOilandGas.com