Going by the following info, PetroHunter has to repay Falcon the $5 million by next Tuesday (Feb 3). This is also the date when they can start selling off their Falcon shares. If we see a lot of anonymous activity today or Monday, it won't be hard to figure out who is behind it.

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October 2, 2008 Falcon news release:

Falcon Oil & Gas Ltd. (TSXV: FO) (“Falcon” or the “Company”) today announced that the Company has closed the transaction to acquire its previously announced 50% working interest in PetroHunter Energy Corporation's ("PetroHunter") 7 million acre prospect in Northern Territory, Australia (the "Beetaloo Basin").

As consideration for the Beetaloo Basin transaction Falcon issued PetroHunter US$20 million of Falcon securities convertible into common shares of Falcon stock on a one for one basis

Falcon also today announced that it has loaned PetroHunter US$5 million. The temporary bridge loan must be repaid within 120 days and bears interest at a rate of 10% per annum.

From the Australia agreement:

THE HOLDER OF THE SECURITY MUST NOT TRADE THE SECURITY BEFORE [INSERT DATE 4 MONTHS AND 1 DAY FROM THE DATE OF ISSUE]