Falcon Crest Energy (OTC: PNEG), a Toronto-based development stage oil and gas exploration and production company, has acquired leasehold in the Powder River Basin.

Falcon Crest Energy leased federal lands from the United States Bureau of Land Management. The company now owns a 75% working interest of 584.78 acres in the Powder River Basin of Wyoming. More specific details will be shared in the near future, but the company is currently seeking to add private leasehold rights in addition to the Federal lands and can't for competitive reasons provide further information at this time.

"Our team members have laid a solid foundation for Falcon Crest Energy to thrive in the North American oil and gas market," stated CEO Patrick Johnson. "This is the first acquisition as Falcon Crest Energy and there are several others in our pipeline. We are committed to building a leading, exploration and production company, dedicating our recourses to meet the ever-growing demand for dependable energy."