>I agree with Dirtyboots sentiment in that it would have been allot smarter to have seen the cash saved for the Mako, but maybe the Beetleloo will offer some solace 10 years or so from now!!

Falcon will have full knowledge about the potential of the Beetaloo. If it really has the potential to rival the Mako trough like they said, then they had to act fast. It's not like they could have waited until the Mako project is proven up first. Petrohunter has well commitments for 2009, and if they aren't met, they will most likely loose the permits.

"Pursuant to the terms of the exploration permits for the calendar year ended December 31, 2009, the Company is committed to drill eight wells on Exploration Permit 76, 98, 99, 117 and shoot 100 kilometers (approximately 62 miles) of seismic, at a total estimate cost of $37 million"