>Yes there was but I can't remember the exact wording. Bruner said something to the effect that they had a six month time period to apply for a production license

If they had been extended, I doubt he would have mentioned the 6 month stuff. Once the licenses expire, Falcon has 6 months to submit a geological closing report, and other 6 months to apply for a production license. So the licenses will still be theirs for another year yet. It's just hard to imagine they will be able to do any substantial work in the next 6 months. Even if they did, 'conventional' mining plots only cover the areas around the producing wells. In other words, I would imagine they will need to drill a minimum of 12 producing wells, and obtain 12 different production licenses, since their 39 prospective Algyo plays are not contiguous but are located in about 12 distinct areas.

But anyway, it's the BCGA that will make or break the Mako Trough. I'm more curious about the exploration licenses than I am concerned about them.

>Does the NuTech analysis on life span show only 3 years or is that the point where the initial flow rates begins to taper off?

All we know is what Petrohunter said in the news release. 300 bbl's a day for 3 years would be 328,500 barrels, not 70,000, so it's obvious that 300 is just the initial rate (which is does state in the release)

70,000 bbl over 3 years works out to only 63 barrels per day, and that's the number that matters.

As for the cost of the wells, who knows. Please don't think I don't like the Beetaloo play, because the opposite is true. I was only pointing out that the 300 bbl's per day that Bruner mentioned doesnt mean much unless we know the cost of drilling.