Thanks Tsoprano for the update from Kip, as it will be a relief to hear some news fairly soon from Philip. I too think that PHUN could go up a fair bit on any positive drilling results in the Beetaloo, especially since they have 10% of the Falcon stock and are in a 50/50 partnership with Paltar on the two large land parcels in the Beetaloo that adjoin Falcon's property. That being said - who knows what Bruner and the debt load might do to PHUN in the interim??

The following is a link to Inpex's JV with Nexen (#2 on this list) to commercialize the Horn River area of British Columbia. The important aspect of this JV is that Inpex is getting hands on experience in horizontal drilling and fracking for natural gas with huge reserves that are comparable to the Beetaloo.

http://www.inpex.co.jp/english/business/america.html

The development work in the Horn River basin is being led by Nexen and I think that our delay in the Beetaloo may be due to Inpex's reluctance to go it alone on the Beetaloo. Inpex is working with Total on the Browse offshore basin gas & the Ichthys project, but Total is already in a JV with Central Petroleum in the Georgina Basin. Therefore, Inpex may be in the process of trying to secure a partner for the Beetaloo Basin that, like Nexen, has more extensive experience in fracking and horizontal drilling to help de-risk their end of any JV with Falcon.