>However this can only be speculation on my part because FO were silent on the whole royalty issue - not just "Christian's" royalty, but the 8% for the original assignor (presumably Bayliss), 10% for the Government of the Northern Territories and 1 to 2% (it varies) for the Northern Land Council. This was surely an oversight.

The Bayless royalty is covered in the Purchase and Sale Agreement. From my understanding, it is totally Petrohunters responsibility, therefore there was no need for Falcon to mention it in the news release.

PetroHunter and Seller hereby promise, covenant and guarantee that neither Falcon nor Purchaser will have any benefits or obligations whatsoever under or in connection with the area of mutual interest established by Section 19 of the Stock Acquisition and Exploration Agreement dated November 9, 2005, between MAB Resources LLC, on the one hand, and the Robert L. Bayless Estate and the other sellers, on the other. PetroHunter and Seller each jointly and severally indemnify and agree to hold Falcon and Purchaser harmless against any claim (including without limitation any claim for an overriding royalty interest) at any time by the Robert L. Bayless Estate or any other seller, or their respective successors and assigns, arising out of the acquisition of any interest in any lands within that area of mutual interest.