This is from the Austrialian article last year (listed under links) with the Hess buy into the Beetaloo.--

The angle to the story for local investors is that Mr Bruner, Falcon's former chief executive, is planning an ASX float by September of his company, Paltar Petroleum, which has acquired tenements on the outskirts of Falcon and Hess's ground.

Mr Bruner is also the major shareholder of PetroHunter and its subsidiary Sweetpea, which has sold both Falcon and Paltar their Beetaloo ground.

The initial public offering will seek to raise $25m to appraise the ground and, if all goes to plan, see Paltar list with a market value of $138m.

Last year, Mr Bruner resigned from Falcon after five years at the helm. He has had previous success building unconventional oil and gas plays, such as Ultra Petroleum and Pennaco Energy, along with Falcon.

His sudden departure from Falcon, where he was replaced by director Robert Macaulay, came after US giant Exxon walked away from a Hungarian oil venture Mr Bruner had negotiated.

Mr Bruner said Beetaloo could be one of the world's largest untapped shale deposits, with the potential for both conventional oil flow and tight oil and gas.

In a presentation to investors this month, Mr Bruner said previous studies by Ryder Scott estimated that the basin could have 17 billion barrels of unrisked recoverable oil and 64 trillion cubic feet of natural gas.

Australian-listed Sinovus Mining, is also involved in the Paltar float.

--Of note Ben Law works both for Falcon and Paltar. - No opinion on who has the best land. Hess is no dummy - Paltar did not go public last fall - I believe Falcon is looking for venture partner on the 100,000 acres. Maybe Soly can bring us up to date on all this. Pre Thanks Soly