Thank you Paul for demonstrating your prowess as a spinmeister ;)

>Falcon has delayed any real work on the Beetaloo for another year.

Are you implying that the Northern territory of the Australian Government and its Department of Resources are in the hip pocket of Bruner, and their decision had nothing to do with the circumstances described below?

AUSTRALIA-Highlights for 2010

In February 2010, the Company commenced well site construction and service tendering exercises for the 2010 work program, with the intentions of commencing drilling and completion activities in July/August 2010. Abnormal rains and flooding throughout the Australian states of Northern Territories, Queensland and New South Wales had significant impact and caused the service companies to re-evaluate their ability to honor their commitment to perform the required contracted services and provide the equipment required for the 2010 drilling and completion activities. Based on this, the Company requested, and received in June 2010, notice from the Northern Territory of Australia Government, Department of Resources, that its 2010 work commitment obligation for EP 98 has been extended to December 31, 2011. During the first six months of 2010, activity has been limited to geological and geophysical analysis, engineering and analytical evaluations. The Company has submitted applications of approval to the Aboriginal Area Protection Agency and the Northern Land Council for indigenous cultural clearances of future well sites which includes heritage and environmental work that will allow the Company to enter the lands and perform work as required.

Future Operations

The Company’s revised minimum work program obligations to retain all of the underlying Permits in the Beetaloo Basin, will be to expend $200,000, $10,100,000 and $5,000,000 during the years ending December 31, 2010, 2011 and 2012, respectively

>The Australian fund raising looks quite dismal..

Well, so it appears. However, since the filing was written by a Bruner lawyer and the company doesn’t really need any money in the near term, so they came up with the extension scenario.Give credit to Bruner when credit is due ;)

” Subsequent to June 30, 2010, and as of July 31, 2010, an additional $775,000 of gross proceeds from the Offer has been received, and is being held in escrow by the acting broker.”

> as long as Bruner can keep milking the piggy bank.

Well, I disagree with you. Bruner is a billionaire, and he doesn’t need that few million bucks Falcon has in its piggy bank. But he wants the untold billions of wealth contained underground in the Falcon’s three plays more than anything else.