>I've made afew calls to petrohunter and falcon with no return.The Australian lease required 4 wells to be started before the end of 09,this wasn't done and I can't find were the lease was extended,will this lease expire soon?

We know they were trying to renegotiate the commitments, but I don't recall ever reading whether or not they were successful.

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From Petrohunter, June 30th:

"We had been obligated to attempt to drill four wells in the Beetaloo prior to December 31, 2009, to fulfill our obligations under EP 98 and EP 117, with additional activity planned for EP 76 and EP 99. Application to reduce these drilling commitments has been lodged with the Australian government. As of June 30, 2009 we have not received confirmation that the obligations under these permits will be reduced."

From Ryder Scott report, Aug

"Each of the four EPs originally had their own required work programs and expenditures. However
Falcon has informed Ryder Scott that it is currently negotiating with the Government of NT and native
stakeholders to prepare a single comprehensive exploration and development program covering
Beetaloo Basin and all four of Falcon’s EPs. Falcon has indicated that these negotiations are going
well and that they anticipate that an agreement will be reached shortly and Falcon’s plan to deepen the
Shenandoah #1 Well will proceed as scheduled in the summer of 2009."