>It still seems very likely that FO and PHUN will merge into one company at some point in the future, which could make sense regarding staff and assets.

I don't see what would be the advantage in it for Falcon. The way I see it, Falcon with 75% operating interest in Beetaloo, De Facto already "owns" the assets without all the liability Petrohunter may still have on their books. As for staff, Falcon should do with what they already have.