Just for clarity......your were posting a snipet from Petro Hunter's Finacial Statement and MD & A

Quarterly Figures - Petro Hunter

For the quarterly period ended June 30, 2010 For the quarterly period ended June 30, 2010

As of August 20, 2010 the registrant had 439,078,759 shares of common stock outstanding. As of August 20, 2010 the registrant had 439,078,759 shares of common stock outstanding.

Natural gas prices have been very volatile during 2010 and 2009 due to supply concerns earlier in 2009, and more recently due to recession concerns arising from the current global financial crisis and a resultant decline in demand for natural gas. Natural gas prices have been very volatile during 2010 and 2009 due to supply concerns earlier in 2009, and more recently due to recession concerns Arising from the current global financial crisis and a resultant decline in demand for natural gas.

Our net losses for the three and nine months ended June 30, 2010 were $2.1 million and $6.2 million, respectively. Our net losses for the three and nine months ended June 30, 2010 were $ 2.1 million and $ 6.2 million, respectively. We had no revenues and continue to incur general and administrative and interest expense. We had no revenues and continue to incur general and administrative and interest expense.

For the remainder of fiscal 2010, we will focus on attempting to preserve remaining capital assets, while awaiting the outcome of the well in progress being drilled by our investee Falcon Australia in the Beetaloo Basin project in Australia, as well as to pursue opportunities to further explore our Buckskin Mesa acreage. For the remainder of fiscal 2010, we will focus on attempting to preserve remaining capital assets, while awaiting the outcome of the well being drilled in progress by our Investe Falcon Australia in the Beetaloo Basin project in Australia, as well as to pursue opportunities to further Buckskin Mesa explore our acreage. We will continue to reduce operating costs and attempt to reduce and or further renegotiate our debt, accounts payable and other liabilities. We will continue to reduce operating costs and attempt to reduce and or further renegotiate our debt, accounts payable and other liabilities.

In June 2010, we borrowed a total of $0.15 million from officers and directors of the Company to fund our operations. In June 2010, we borrowed a total of $ 0.15 million from officers and directors of the Company to fund our operations. The notes bear interest at 15% per annum, and were initially executed for a term of 45 days. The notes bear interest at 15% per annum, and were initially executed for a term of 45 days. The officers and directors have granted an extension to the initial term of the notes for another 45 day period. The officers and directors have granted an extension to the initial term of the notes for another 45 day period. These notes are secured by shares of our marketable securities. These notes are secured by shares of our marketable securities.

In April 2010, the holders of $2.2 million of our 8.5% convertible notes payable executed a waiver and amendment agreement in exchange for approximately 2.0 million shares of our common stock and the re-pricing of 16.1 million stock purchase warrants originally issued in connection with the underlying notes. In April 2010, the holders of $ 2.2 million of our 8.5% convertible notes payable executed a waiver and amendment agreement in exchange for approximately 2.0 million shares of our common stock and the re-pricing of 16.1 million stock purchase warrants originally issued in connection with the underlying notes. The terms of the waiver and amendment agreement provide for the relief of approximately $0.3 million in accrued interest and an extension of the maturity date of the underlying notes and scheduled interest payments through December 31, 2014. The terms of the waiver and amendment agreement provide for the relief of approximately $ 0.3 million in accrued interest and an extension of the maturity date of the underlying notes and scheduled interest payments through December 31, 2014th

As of June 30, 2010, the Company is not a party to any legal or administrative actions or proceedings. As of June 30, 2010, the Company is not a party to any legal or administrative actions or proceedings.

During the quarter ended June 30, 2010 we issued 1,984,917 shares of common stock as payment of interest on our outstanding convertible debt in consideration for an amendment to existing note obligations to 11 accredited investors. During the quarter ended June 30, 2010 we issued 1,984,917 shares of common stock as payment of interest on our outstanding convertible debt in consideration for an amendment to existing note obligations to 11 accredited investors.

QUARTERLY REPORT