HOUSTON, Dec. 27, 2006 (PRIME NEWSWIRE) -- Falcon Natural Gas Corp. (OTCBB:FNGC) with WhitMar Exploration Company has begun producing natural gas from the first well of their planned drilling project located in Latimer County, Oklahoma. Gas production started on December 8th and is currently producing at the rate of 1,900 MCF/D*. The well reached a total depth of 13,270 ft and has yielded multiple producing zones. We expect to increase the flow rates in the coming weeks.
Falcon Natural Gas Corp. has purchased 16.67% of the working interest in the Garrett 1-27 Well, South Wilburton Prospect. Falcon also will pay 16.67% 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 east Oklahoma 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 additional information please visit www.falcongas.com.
Founded in 1979, WhitMar Exploration Company is a private energy company with offices in Denver, Colorado and Houston, Texas. 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. http://www.whitmar.com/index.htm
*MCF/D=Thousand cubic feet per day
This news release may include forward-looking statements, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements contained herein.