Luxembourg, with respect to PHUN I would beg to differ with your point of view. That is not to say, that if you are right we would not profit. Yes, If PHUN's ground has commercial gas, we are winners too, well sort of, and that brings me to why I tend to differ with your overall opinion.

In the current capital markets, finding gas is not not enough. Finding it and having the financing to do something with it is what matters. And for the incredulous out there, I would like to add that the chances of an easy JV with a well heeled major became much more difficult since the global credit crunch became public.

Falcon is an unlikely financial backer for PHUN in the event that something is discovered that is somewhat less than abosolutely spectacular. So I would not expect a share price appreciation as the best we can hope for are good results, much short of spectacular.

db