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    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
      D.C. 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
      TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
      1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">November
      28, 2005</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <hr style="COLOR: #000000" align="center" noshade size="1" width="30%">
      </div>Date of Report (Date of earliest event reported)</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FALCON
      NATURAL GAS CORP.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <div>
          <hr style="COLOR: #000000" align="center" noshade size="1" width="30%">
        </div>
      </div>(Exact name of registrant as specified in its charter)</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%">

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            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nevada</font></div>
            </td>
            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">000-50229</font></div>
            </td>
            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">98-0403897</font></div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or other jurisdiction of incorporation)</font></div>
            </td>
            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                File Number)</font></div>
            </td>
            <td valign="middle" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                Employer Identification No.)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Westchase
      Center</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2500
      City
      West Boulevard</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Suite
      300</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Houston,
      TX 77042</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <hr style="COLOR: #000000" align="center" noshade size="1" width="30%">
      </div>(Address of principal executive offices, including zip code)</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(713)
      267-2240</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <hr style="COLOR: #000000" align="center" noshade size="1" width="30%">
      </div>(Registrant's telephone number, including area code)</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      Applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <hr style="COLOR: #000000" align="center" noshade size="1" width="30%">
      </div>(Former name or former address, if changed since last report)</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
      Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
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    <div><a name="id_4"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
      1 - Registrant&#8217;s Business and Operations</strong></font></a></div><a name="id_4"/>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01 Entry into a Material Definitive Agreement</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      November 28, 2005 we entered into a Participation Agreement with Southern
      Resource Company, a Texas corporation (&#8220;Southern&#8221;), effective as of September 1,
      2005 with respect to (i) our acquisition from Southern of undivided interests
      in
      and to certain oil, gas and mineral leases in DeWitt County, Texas (the
&#8220;Leases&#8221;); (ii) our participation with Southern in additional oil, gas, and
      mineral leases within the target area; and (iii) our participation in the
      drilling of one or more wells in the target area.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
      are
      at least 11 oil and gas prospects in the target area. Southern has agreed to
      sell us a 47% working interest in the Leases, subject to, among other things,
      our payment of a proportionate share of all royalties previously reserved or
      conveyed to third parties provided that our net revenue interest in any such
      Leases shall not be less than our proportionate share (47%) of 73%. We have
      agreed to commence operations for the drilling of an exploratory well in search
      of oil and gas with Southern as operator in accordance with the Participation
      Agreement and a related Operating Agreement between us and Southern, effective
      as of September 1, 2005. For and in consideration of our acquiring an interest
      in the subject prospect(s) we paid Southern 47% of $70,000 or $32,900 respecting
      our proportionate share of the geological prospect fee attributable to the
      initial prospect area. Such amount is non-refundable, unless Southern fails,
      for
      reasons other then circumstances beyond its control, to commence the drilling
      on
      the initial prospect area on or before June 1, 2006. Within 30 days after the
      log of the initial test well on the prospect, we are required to elect whether
      or not to continue to participate in the acquisition of Leases and payment
      of
      prospect fees for subsequent prospects in the targeted area. If we elect to
      continue, we must pay Southern 47% of $280,000 or $131,600 representing our
      proportionate share of the geological prospect fee attributable to four
      additional prospects (if obtainable) provided that if Southern notifies us
      in
      writing that it has received a bona fide offer from an unrelated third party
      to
      participate in 10 additional prospects, we must pay no less then 47% of $700,000
      or $329,000, on terms that Southern is willing to accept. If we elect not to
      participate, or fail to make an election within the required time frame, we
      shall have no right to participate in any future development of the targeted
      area or any right to a refund of monies previously paid by us and the
      Participation Agreement shall terminate, provided that we shall retain all
      rights in the initial prospect area and under the Operating Agreement applicable
      to that prospect area. Assuming the four additional prospects option is in
      play
      and we have agreed to such, after the initial test wells on such four additional
      prospects have been drilled, we are required to make a further election whether
      or not to participate in up to 6 additional prospects (if obtainable), and
      if
      so, we are required to pay 47% of $420,000 or $197,000, representing our share
      of the geological prospect fees attributable to such six additional prospects.
      If we elect not to continue, or fail to make an election within the required
      time frame we shall have no right to participate in any future development
      of
      the targeted area, nor any right to a refund of monies theretofore paid, and
      the
      Participation Agreement shall terminate; provided that we shall retain all
      our
      rights in the prospects in which we have participated, the Leases for which
      we
      have paid our proportionate share, and all rights under the Operating Agreements
      applicable to those prospects. It is a condition precedent to our obligation
      to
      make such elections that Southern shall identify the next four or six prospects
      which it proposes to acquire and the information available to it concerning
      the
      status of such areas, and Southern has agreed to use its best efforts to acquire
      leases and/or farmins covering such areas on terms acceptable to the parties,
      if
      obtainable. Southern is further obligated to refund the prospect fee for any
      prospect and any unexpended lease money advance by us that Southern does not
      drill within 120 days of our payment of such prospect fee, if the failure to
      drill is for reasons other than circumstances beyond its control, and provided
      further that Southern shall not be obligated to refund any prospect fee, or
      unexpended lease money, or to deliver any assignment of Leases to us if we
      fail
      or refuse to participate in the drilling of the initial test well on any such
      prospect. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      have
      further agreed to pay to Southern 58.75% of the actual cost of the Leases to
      be
      acquired along with our share of the actual direct cost attributable to the
      Lease acquisition in the initial prospect area which incorporates, but is not
      limited to, lease bonus consideration, landmans&#8217; fees, drafting fees, legal
      fees, survey fees, and other similar fees. If we make the elections to continue
      in the program pursuant to the terms discussed above, we shall pay 58.75% of
      the
      actual cost attributable to Lease acquisition in the relevant prospects
      identified in such elections, which are selected and designated as provided
      in
      the Participation Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      are
      further obligated to pay to Southern 58.75% of the before casing point costs
      attributable to the drilling of the initial test well on each contemplated
      prospect to casing point. All operations after casing point will be on a prorata
      working interest basis, as set out in the Operating Agreement. Notwithstanding
      the foregoing, Southern shall not be required to perform nor shall Southern
      be
      liable for any cost or expense (except its 20% after casing point share) for
      so
      long as it is prevented or delayed from commencing or resuming normal operations
      that are the result of any Federal or state law or any order, rule or regulation
      of any governmental authority, any force majeure, including but not limited
      to,
      acts of God, inclement weather, floods, strikes, or the scarcity or inability
      to
      obtain or to use equipment or material. Should such an event take place and,
      as
      a result thereof, Southern incurs any cost or expense related thereto, then
      the
      total cost of such an occurrence or event or will be borne pro-rata by Southern
      and us.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      initial test well as it pertains to each prospect contemplated by the
      Participation Agreement may be turnkeyed should the majority of working interest
      participants, inclusive of Southern&#8217;s interest, elect to do so. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      are
      further obligated to pay Southern 47% of the actual costs of completing and
      equipping each well, if an election is made at casing point by us for a
      completion attempt. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the Participation Agreement, Southern has assigned to us an undivided 47%
      working interest in the Leases. The assignment is without warranty, express
      or
      implied, except as to claims arising by, through or under Southern. If we elect
      to continue in the program as provided above, subsequent assignments shall
      be
      made to us as additional leases are acquired, and the costs thereof are invoiced
      to and paid by us. </font></div>
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      9 - Financial Statements and Exhibit</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Participation
                Agreement dated November 28, 2005 between Registrant and Southern
                Resource
                Company</font></div>
            </td>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
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            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FALCON
              NATURAL GAS CORP.</font></td>
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            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;
              Fred Zaziski</font></td>
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              <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">Name:</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fred
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;November
              30, 2005</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;
              President</font></td>
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Unassociated Document
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
      1934
November
      28, 2005
Date of Report (Date of earliest event reported)
FALCON
      NATURAL GAS CORP.
(Exact name of registrant as specified in its charter)
Nevada
000-50229
98-0403897
(State
                or other jurisdiction of incorporation)
(Commission
                File Number)
(IRS
                Employer Identification No.)
Westchase
      Center
2500
      City
      West Boulevard
Suite
      300
Houston,
      TX 77042
(Address of principal executive offices, including zip code)
(713)
      267-2240
(Registrant's telephone number, including area code)
Not
      Applicable
(Former name or former address, if changed since last report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
o
Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section
      1 - Registrant's Business and Operations
Item
      1.01 Entry into a Material Definitive Agreement
On
      November 28, 2005 we entered into a Participation Agreement with Southern
      Resource Company, a Texas corporation ("Southern"), effective as of September 1,
      2005 with respect to (i) our acquisition from Southern of undivided interests
      in
      and to certain oil, gas and mineral leases in DeWitt County, Texas (the
"Leases"); (ii) our participation with Southern in additional oil, gas, and
      mineral leases within the target area; and (iii) our participation in the
      drilling of one or more wells in the target area.
There
      are
      at least 11 oil and gas prospects in the target area. Southern has agreed to
      sell us a 47% working interest in the Leases, subject to, among other things,
      our payment of a proportionate share of all royalties previously reserved or
      conveyed to third parties provided that our net revenue interest in any such
      Leases shall not be less than our proportionate share (47%) of 73%. We have
      agreed to commence operations for the drilling of an exploratory well in search
      of oil and gas with Southern as operator in accordance with the Participation
      Agreement and a related Operating Agreement between us and Southern, effective
      as of September 1, 2005. For and in consideration of our acquiring an interest
      in the subject prospect(s) we paid Southern 47% of $70,000 or $32,900 respecting
      our proportionate share of the geological prospect fee attributable to the
      initial prospect area. Such amount is non-refundable, unless Southern fails,
      for
      reasons other then circumstances beyond its control, to commence the drilling
      on
      the initial prospect area on or before June 1, 2006. Within 30 days after the
      log of the initial test well on the prospect, we are required to elect whether
      or not to continue to participate in the acquisition of Leases and payment
      of
      prospect fees for subsequent prospects in the targeted area. If we elect to
      continue, we must pay Southern 47% of $280,000 or $131,600 representing our
      proportionate share of the geological prospect fee attributable to four
      additional prospects (if obtainable) provided that if Southern notifies us
      in
      writing that it has received a bona fide offer from an unrelated third party
      to
      participate in 10 additional prospects, we must pay no less then 47% of $700,000
      or $329,000, on terms that Southern is willing to accept. If we elect not to
      participate, or fail to make an election within the required time frame, we
      shall have no right to participate in any future development of the targeted
      area or any right to a refund of monies previously paid by us and the
      Participation Agreement shall terminate, provided that we shall retain all
      rights in the initial prospect area and under the Operating Agreement applicable
      to that prospect area. Assuming the four additional prospects option is in
      play
      and we have agreed to such, after the initial test wells on such four additional
      prospects have been drilled, we are required to make a further election whether
      or not to participate in up to 6 additional prospects (if obtainable), and
      if
      so, we are required to pay 47% of $420,000 or $197,000, representing our share
      of the geological prospect fees attributable to such six additional prospects.
      If we elect not to continue, or fail to make an election within the required
      time frame we shall have no right to participate in any future development
      of
      the targeted area, nor any right to a refund of monies theretofore paid, and
      the
      Participation Agreement shall terminate; provided that we shall retain all
      our
      rights in the prospects in which we have participated, the Leases for which
      we
      have paid our proportionate share, and all rights under the Operating Agreements
      applicable to those prospects. It is a condition precedent to our obligation
      to
      make such elections that Southern shall identify the next four or six prospects
      which it proposes to acquire and the information available to it concerning
      the
      status of such areas, and Southern has agreed to use its best efforts to acquire
      leases and/or farmins covering such areas on terms acceptable to the parties,
      if
      obtainable. Southern is further obligated to refund the prospect fee for any
      prospect and any unexpended lease money advance by us that Southern does not
      drill within 120 days of our payment of such prospect fee, if the failure to
      drill is for reasons other than circumstances beyond its control, and provided
      further that Southern shall not be obligated to refund any prospect fee, or
      unexpended lease money, or to deliver any assignment of Leases to us if we
      fail
      or refuse to participate in the drilling of the initial test well on any such
      prospect.
2
We
      have
      further agreed to pay to Southern 58.75% of the actual cost of the Leases to
      be
      acquired along with our share of the actual direct cost attributable to the
      Lease acquisition in the initial prospect area which incorporates, but is not
      limited to, lease bonus consideration, landmans' fees, drafting fees, legal
      fees, survey fees, and other similar fees. If we make the elections to continue
      in the program pursuant to the terms discussed above, we shall pay 58.75% of
      the
      actual cost attributable to Lease acquisition in the relevant prospects
      identified in such elections, which are selected and designated as provided
      in
      the Participation Agreement.
We
      are
      further obligated to pay to Southern 58.75% of the before casing point costs
      attributable to the drilling of the initial test well on each contemplated
      prospect to casing point. All operations after casing point will be on a prorata
      working interest basis, as set out in the Operating Agreement. Notwithstanding
      the foregoing, Southern shall not be required to perform nor shall Southern
      be
      liable for any cost or expense (except its 20% after casing point share) for
      so
      long as it is prevented or delayed from commencing or resuming normal operations
      that are the result of any Federal or state law or any order, rule or regulation
      of any governmental authority, any force majeure, including but not limited
      to,
      acts of God, inclement weather, floods, strikes, or the scarcity or inability
      to
      obtain or to use equipment or material. Should such an event take place and,
      as
      a result thereof, Southern incurs any cost or expense related thereto, then
      the
      total cost of such an occurrence or event or will be borne pro-rata by Southern
      and us.
The
      initial test well as it pertains to each prospect contemplated by the
      Participation Agreement may be turnkeyed should the majority of working interest
      participants, inclusive of Southern's interest, elect to do so.
We
      are
      further obligated to pay Southern 47% of the actual costs of completing and
      equipping each well, if an election is made at casing point by us for a
      completion attempt.
Pursuant
      to the Participation Agreement, Southern has assigned to us an undivided 47%
      working interest in the Leases. The assignment is without warranty, express
      or
      implied, except as to claims arising by, through or under Southern. If we elect
      to continue in the program as provided above, subsequent assignments shall
      be
      made to us as additional leases are acquired, and the costs thereof are invoiced
      to and paid by us.
3
Section
      9 - Financial Statements and Exhibit
Item
      9.01 Financial statements and Exhibits
(c)
Exhibits
Item
Description
10.1
Participation
                Agreement dated November 28, 2005 between Registrant and Southern
                Resource
                Company
4
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
FALCON
              NATURAL GAS CORP.
By:
/s/ 
              Fred Zaziski
Name:
Fred
              Zaziski
Date: November
              30, 2005
Title:  
              President
5