>But Exxon and MOL weren't involved with the Mako Trough either until Falcon drilled a few holes and demostrated a superabundance of mature source rocks and acceptable sandstone reservoirs.

And there were others involved before Falcon, earlier in the 70's Mol's predecessor done an extensive exploration of the Mako trough. But...

"The oil and gas industry experts knew the existence of Mako resource since the early 1970’s. Soon after the discovery, all hopes for exploitation were given up due to technical difficulties and lack of founding." (Heti Valasz)

Then in the 80's renewed efforts were made to crack the Mako, yet it took another 25 years before Falcon arrived in 2005 and went on to prove that the Mako trough BCGA was a viable gas play

At the end of the 80’s the Worldbank financed the deep drilling program in Hungary, this awoke an interest in the Mako gas-field in the West. In 1998, John Gustavson an American geologist acquired an exploration license in some part of the Mako trough. He liked the similarities in the Mako trough with plains in Wyoming. Gustavson researched and compared the earlier Hungarian and the later international exploration results, and then in 2002 he started to show his findings to major oil companies. In the end, he attracted the interest of Marc A. Bruner the former CEO of Ultra Petroleum. After that, Bruner founded Falcon Oil and Gas, and purchased the Mako concession from Gustavson. Starting in December 2005 Falcon with 6 exploration wells explored and delineated the gas resource in the Mako trough.

In May of 2007, Falcon acquired a production license on 100 thousand hectares of land from the Hungarian government. This is the largest concession that was ever given in Europe. The Hungarian government will receive 12% mining royalties. Falcon signed a $300 million exploration and exploitation deal with Exxon Mobil’s Esso International Ltd. The agreement covers 75% of Falcons production license. Falcon retains 33% undivided interest in the contract area and Exxon getting the other 67%, then Exxon agreed with Mol to work together in the contract area. (Heti Valasz)

What I'm trying to say is, it takes a long time and a lot effort to prove the viability any prospective play. The Beetaloo Basin is no exception, but what helps the Beetaloo play to progress faster is, that the needed technology is already here.