Oilmaninvestor,

I was kind of hoping that no one would remind me of my 30 day prediction - which is now about 45 days overdue!!

I was talking with a good friend back East earlier today, as we were trying to get a better feel for why the JV is taking so long. We both think that - if Inpex and Total are together on a possible JV - then the number of lawyers involved in the process, including Falcon's lawyers, would be quite substantial - with dotting i's and crossing t's a seriously frustrating process.

The announcement of the testing of the first Hungary well by NIS was nice, but I was disappointed that it will take 3 months and there was no mention of the other two wells they supposedly are committed to drill.

There is a possibility that we could get some positive news on an exploration license out of S.A. before we hear anything positive on the Beetaloo JV, which help lift the share price for a short while, but the real lift will come from the Beetaloo if it is a strong JV.