---By contrast the oil in australia, specifically Beetaloo would be expensive and probably totally un-economic for the foreseable future until we get much higher oil prices (hence, BHP would stay away from it).

On what do you base this DB? Do you already know what the flow rates will be? Who at BHP did you get this information from? These are statements of pure speculation. And the Beetaloo isn't only an oil play, it is a BCGA as well.

---It is for that reason that Beetaloo is a technically interesting and deversing of all attention, but not from Falcon, a junior with limited resources and in need to conserve cash to look after Mako, the play that will make this company into something.

Falcon will bring in outside money for OZ, just like they did with Mako. What if Mako doesn't turn out like we thought? Taking on the Beetaloo play gives them additional avenues for success. No matter what feelings you may have towards management, they wouldn't cut themselves short of cash with a deal they have been working on for years, with the biggest partner imaginable, with a production license in place, with testing coming soon, to explore in Australia. Bruner didn't get to where he is by being an idiot. There is a method to the madness.