> The research in Hungary may be more advanced, but it seems to me we actually have investors to move forward in Australia. I would say this winter (their summer) we should hear of some efforts and maybe some flow --- and if so -- it will move up quite nicely. PHUN and Falcon.

I don't expect we'll hear anything re: testing or flows until at least very late Summer 2011 if not late Q3 or even Q4...The wet season in Northern Australia is November - April, during which the area can receive torrential downpours and washouts for weeks/months on end (check your favourite weather page and punch in Darwin right now - look at the long range forecast and you'll see what i mean)...that means probably at best not until late April / early May to start fricken fracking and then 30++ days for the liquids/proppants to clear and then at least another 30-60 days for flow monitoring and analysis or a secondary fracking/tweaking and then another clearing period and then another evaluation period. So no, don't see anything on the flows front in the near future...it's too bad that this wet season chews up half the year that work could be happening but that's the way it is...and aside from that there are so many positives to doing business in Oz that hopefully will counteract this...but yeah, in the North it looks like they only get 6 months per year to conduct ground operations...that doesn't add up to a lot of time to get things done when you consider potential equipment availability issues and permits/environmental issues/land access rights etc before the rains come once again.

Hopefully there is news of a partnership before the end of this season in April that not only brings fresh capital to the project but proven expertise most importantly...and one that is fully willing to accept this as a long term project and that can expedite necessary equipment. I expect that in the end (if Falcon can hold on in its current form) things will indeed progress and Beetaloo will be a profilic producer of oil and gas...but it will be a very very long road and we'll all need the guts to stick it out - even as incredibly long a road this has already seemed to many of us.

Happy holidays and season's greetings filled with some serious patience for us all.

LP