>So the pressure is on phun to raise monies right?

This should answer that question:

As a result of severe cash flow constraints, we have experienced substantial difficulties in meeting our short term cash needs, particularly in relation to our past due vendor commitments. Substantially all of our assets are pledged, and extreme volatility in energy pricing and a deteriorating global economy are creating great difficulties in the capital markets and have greatly hindered our ability to raise debt and/or equity capital. Further, as the result of a series of asset sale transactions, we no longer have significant proven reserves, which increases our difficulties in obtaining traditional financing. During the year ended September 30, 2008 we have also obtained debt financing from related parties which we expect will not continue on any meaningful level in the near future. Although we have made substantial progress in reducing our reported $37.9 million dollar working capital deficit as of September 30, 2007, substantially all of our current assets are concentrated in marketable equity securities we received in conjunction with the sale of a 50% working interest in certain of our Australian assets. Those securities have experienced a dramatic decline in value and remain highly volatile. Further, some of these securities remain restricted from our use. Finally, we continue to have significant lease commitments and drilling obligations to meet, along with an absence of any meaningful revenue and continue to experience a significant operating cash burn rate. These and other risks we are facing may cause us to experience material adverse business consequences, including our inability to continue in existence.

>Now on the other hand they may keep our price down, as they may sell shares of FO I'M guessing, but they may wait to see the td and higher price, or they may actually try to raise money in the markets (don't think thats easy).

That is (or was) the plan.

For our fiscal year ending September 30, 2009, we plan to fund our operating cash needs through: the sale of the Falcon stock; obtaining debt financing that is collateralized by the Falcon stock; seeking further sales of our remaining working interests in our Buckskin Mesa and Beetaloo Basin Projects; and/or completing additional private placements of debt or equity to raise cash to meet our working capital needs. A significant amount of capital is needed to fund our proposed drilling program for 2009 and to meet the balance of our operating cash needs.

If they sell the Falcon stock, that eliminates the second option of using the Falcon stock as collateral for a loan. As for raising money via private placements, good luck to them in this market!