<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- QXInteractive -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://petrohunter.com/role/DocumentAndEntityInformation" xlink:href="phun-20120630.xsd#DocumentAndEntityInformation" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CondensedConsolidatedBalanceSheets" xlink:href="phun-20120630.xsd#CondensedConsolidatedBalanceSheets" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CondensedConsolidatedBalanceSheetsParenthetical" xlink:href="phun-20120630.xsd#CondensedConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CondensedConsolidatedStatementsOfOperations" xlink:href="phun-20120630.xsd#CondensedConsolidatedStatementsOfOperations" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CondensedConsolidatedStatementsOfCashFlows" xlink:href="phun-20120630.xsd#CondensedConsolidatedStatementsOfCashFlows" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/OrganizationAndBasisOfPresentation" xlink:href="phun-20120630.xsd#OrganizationAndBasisOfPresentation" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="phun-20120630.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/RestrictedCashAndMarketableSecurities" xlink:href="phun-20120630.xsd#RestrictedCashAndMarketableSecurities" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/EquityInvestment" xlink:href="phun-20120630.xsd#EquityInvestment" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/Share-BasedCompensation" xlink:href="phun-20120630.xsd#Share-BasedCompensation" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CommonStockWarrants" xlink:href="phun-20120630.xsd#CommonStockWarrants" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/RelatedPartyTransactions" xlink:href="phun-20120630.xsd#RelatedPartyTransactions" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/OtherAccruedLiabilities" xlink:href="phun-20120630.xsd#OtherAccruedLiabilities" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/SubsequentEvents" xlink:href="phun-20120630.xsd#SubsequentEvents" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="phun-20120630.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CommonStockWarrantsTables" xlink:href="phun-20120630.xsd#CommonStockWarrantsTables" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/CommonStockWarrantsDetails" xlink:href="phun-20120630.xsd#CommonStockWarrantsDetails" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative" xlink:href="phun-20120630.xsd#SummaryOfSignificantAccountingPoliciesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/RestrictedCashAndMarketableSecuritiesDetailsNarrative" xlink:href="phun-20120630.xsd#RestrictedCashAndMarketableSecuritiesDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/EquityInvestmentDetailsNarrative" xlink:href="phun-20120630.xsd#EquityInvestmentDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/Share-BasedCompensationDetailsNarrative" xlink:href="phun-20120630.xsd#Share-BasedCompensationDetailsNarrative" xlink:type="simple" />
    <link:roleRef roleURI="http://petrohunter.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:href="phun-20120630.xsd#RelatedPartyTransactionsDetailsNarrative" xlink:type="simple" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/DocumentAndEntityInformation" xlink:title="0001 - Document - Document and Entity Information" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CondensedConsolidatedBalanceSheets" xlink:title="0002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_PHUNAssetsCurrent" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_PHUNCashAndCashEquivalentsAtCarryingValue" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssetsCurrent" xlink:to="loc_PHUNCashAndCashEquivalentsAtCarryingValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MarketableSecuritiesCurrent" xlink:label="loc_PHUNMarketableSecuritiesCurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssetsCurrent" xlink:to="loc_PHUNMarketableSecuritiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="loc_PHUNPrepaidExpenseAndOtherAssetsCurrent" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssetsCurrent" xlink:to="loc_PHUNPrepaidExpenseAndOtherAssetsCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Assets" xlink:label="loc_PHUNAssets" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssets" xlink:to="loc_PHUNAssetsCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_FurnitureAndEquipmentNet" xlink:label="loc_PHUNFurnitureAndEquipmentNet" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssets" xlink:to="loc_PHUNFurnitureAndEquipmentNet" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="loc_PHUNRestrictedCashAndCashEquivalentsNoncurrent" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssets" xlink:to="loc_PHUNRestrictedCashAndCashEquivalentsNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_DepositsAndOtherAssetsNoncurrent" xlink:label="loc_PHUNDepositsAndOtherAssetsNoncurrent" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNAssets" xlink:to="loc_PHUNDepositsAndOtherAssetsNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_PHUNLiabilitiesCurrent" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="loc_PHUNAccountsPayableAndAccruedLiabilitiesCurrent" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNAccountsPayableAndAccruedLiabilitiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConvertibleNotesPayableCurrent" xlink:label="loc_PHUNConvertibleNotesPayableCurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNConvertibleNotesPayableCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesClassifiedCurrent" xlink:label="loc_PHUNNotesPayableRelatedPartiesClassifiedCurrent" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNNotesPayableRelatedPartiesClassifiedCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="loc_PHUNInterestPayableCurrent" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNInterestPayableCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_AccruedInterestAndFeesPayableRelatedPartiesCurrent" xlink:label="loc_PHUNAccruedInterestAndFeesPayableRelatedPartiesCurrent" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNAccruedInterestAndFeesPayableRelatedPartiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="loc_PHUNOtherLiabilitiesCurrent" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNOtherLiabilitiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetRetirementObligationCurrent" xlink:label="loc_PHUNAssetRetirementObligationCurrent" />
      <link:calculationArc order="700" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesCurrent" xlink:to="loc_PHUNAssetRetirementObligationCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_PHUNLiabilities" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNLiabilitiesCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesPayableRelatedPartiesNoncurrent" xlink:label="loc_PHUNNotesPayableRelatedPartiesNoncurrent" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNNotesPayableRelatedPartiesNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConvertibleLongTermNotesPayable" xlink:label="loc_PHUNConvertibleLongTermNotesPayable" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNConvertibleLongTermNotesPayable" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_AccruedInterestAndFeesPayableRelatedPartiesNoncurrent" xlink:label="loc_PHUNAccruedInterestAndFeesPayableRelatedPartiesNoncurrent" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNAccruedInterestAndFeesPayableRelatedPartiesNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_InterestPayableNonCurrent" xlink:label="loc_PHUNInterestPayableNonCurrent" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNInterestPayableNonCurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetRetirementObligationsNoncurrent" xlink:label="loc_PHUNAssetRetirementObligationsNoncurrent" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilities" xlink:to="loc_PHUNAssetRetirementObligationsNoncurrent" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_PHUNStockholdersEquity" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_PHUNPreferredStockValue" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNStockholdersEquity" xlink:to="loc_PHUNPreferredStockValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_PHUNCommonStockValue" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNStockholdersEquity" xlink:to="loc_PHUNCommonStockValue" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_PHUNAdditionalPaidInCapitalCommonStock" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNStockholdersEquity" xlink:to="loc_PHUNAdditionalPaidInCapitalCommonStock" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_PHUNAccumulatedOtherComprehensiveIncomeLossNetOfTax" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNStockholdersEquity" xlink:to="loc_PHUNAccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_PHUNRetainedEarningsAccumulatedDeficit" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNStockholdersEquity" xlink:to="loc_PHUNRetainedEarningsAccumulatedDeficit" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_PHUNLiabilitiesAndStockholdersEquity" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesAndStockholdersEquity" xlink:to="loc_PHUNLiabilities" xlink:type="arc" weight="1" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNLiabilitiesAndStockholdersEquity" xlink:to="loc_PHUNStockholdersEquity" xlink:type="arc" weight="1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CondensedConsolidatedBalanceSheetsParenthetical" xlink:title="0003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CondensedConsolidatedStatementsOfOperations" xlink:title="0004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_PHUNOperatingExpenses" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_PHUNGeneralAndAdministrativeExpense" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNOperatingExpenses" xlink:to="loc_PHUNGeneralAndAdministrativeExpense" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherCostAndExpenseOperating" xlink:label="loc_PHUNOtherCostAndExpenseOperating" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNOperatingExpenses" xlink:to="loc_PHUNOtherCostAndExpenseOperating" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_PHUNDepreciationAndAmortization" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNOperatingExpenses" xlink:to="loc_PHUNDepreciationAndAmortization" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_PHUNOperatingIncomeLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNOperatingIncomeLoss" xlink:to="loc_PHUNOperatingExpenses" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="loc_PHUNNonoperatingIncomeExpense" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_PHUNInvestmentIncomeInterest" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNonoperatingIncomeExpense" xlink:to="loc_PHUNInvestmentIncomeInterest" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_PHUNInterestExpense" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNonoperatingIncomeExpense" xlink:to="loc_PHUNInterestExpense" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MarketableSecuritiesGainLoss" xlink:label="loc_PHUNMarketableSecuritiesGainLoss" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNonoperatingIncomeExpense" xlink:to="loc_PHUNMarketableSecuritiesGainLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_GainLossFromRecoveryOfRelatedPartyAccountsPayable" xlink:label="loc_PHUNGainLossFromRecoveryOfRelatedPartyAccountsPayable" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNonoperatingIncomeExpense" xlink:to="loc_PHUNGainLossFromRecoveryOfRelatedPartyAccountsPayable" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="phun-20120630.xsd#PHUN_SettlementOfAccruedLiabilitiesRelatedParty" xlink:label="loc_PHUNSettlementOfAccruedLiabilitiesRelatedParty" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNonoperatingIncomeExpense" xlink:to="loc_PHUNSettlementOfAccruedLiabilitiesRelatedParty" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_PHUNNetIncomeLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetIncomeLoss" xlink:to="loc_PHUNOperatingIncomeLoss" xlink:type="arc" weight="1" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetIncomeLoss" xlink:to="loc_PHUNNonoperatingIncomeExpense" xlink:type="arc" weight="1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CondensedConsolidatedStatementsOfCashFlows" xlink:title="0005 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_PHUNNetCashProvidedByUsedInOperatingActivities" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_PHUNNetIncomeLoss" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNNetIncomeLoss" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_PHUNShareBasedCompensation" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNShareBasedCompensation" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_PHUNDepreciationDepletionAndAmortization" />
      <link:calculationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNDepreciationDepletionAndAmortization" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments" xlink:label="loc_PHUNMarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments" />
      <link:calculationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNMarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaidInKindInterest" xlink:label="loc_PHUNPaidInKindInterest" />
      <link:calculationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNPaidInKindInterest" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:label="loc_PHUNEquityMethodInvestmentRealizedGainLossOnDisposal" />
      <link:calculationArc order="600" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNEquityMethodInvestmentRealizedGainLossOnDisposal" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="loc_PHUNIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
      <link:calculationArc order="700" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNIncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_PHUNIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
      <link:calculationArc order="800" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNIncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedParties" xlink:label="loc_PHUNIncreaseDecreaseInDueFromRelatedParties" />
      <link:calculationArc order="900" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:to="loc_PHUNIncreaseDecreaseInDueFromRelatedParties" xlink:type="arc" weight="-1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_PHUNNetCashProvidedByUsedInInvestingActivities" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleOfOilAndGasPropertyAndEquipment" xlink:label="loc_PHUNProceedsFromSaleOfOilAndGasPropertyAndEquipment" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_PHUNProceedsFromSaleOfOilAndGasPropertyAndEquipment" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:label="loc_PHUNProceedsFromSaleAndMaturityOfMarketableSecurities" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNNetCashProvidedByUsedInInvestingActivities" xlink:to="loc_PHUNProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:type="arc" weight="1" />
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_PHUNCashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:calculationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="loc_PHUNNetCashProvidedByUsedInOperatingActivities" xlink:type="arc" weight="1" />
      <link:calculationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_PHUNCashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="loc_PHUNNetCashProvidedByUsedInInvestingActivities" xlink:type="arc" weight="1" />
    </link:calculationLink>
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/OrganizationAndBasisOfPresentation" xlink:title="0006 - Disclosure - Organization and Basis of Presentation" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/SummaryOfSignificantAccountingPolicies" xlink:title="0007 - Disclosure - Summary of Significant Accounting Policies" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/RestrictedCashAndMarketableSecurities" xlink:title="0008 - Disclosure - Restricted Cash and Marketable Securities" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/EquityInvestment" xlink:title="0009 - Disclosure - Equity Investment" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/Share-BasedCompensation" xlink:title="0010 - Disclosure - Share-Based Compensation" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CommonStockWarrants" xlink:title="0011 - Disclosure - Common Stock Warrants" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/RelatedPartyTransactions" xlink:title="0012 - Disclosure - Related Party Transactions" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/OtherAccruedLiabilities" xlink:title="0013 - Disclosure - Other Accrued Liabilities" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/SubsequentEvents" xlink:title="0014 - Disclosure - Subsequent Events" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:title="0015 - Disclosure - Summary of Significant Accounting Policies (Policies)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CommonStockWarrantsTables" xlink:title="0016 - Disclosure - Common Stock Warrants (Tables)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/CommonStockWarrantsDetails" xlink:title="0017 - Disclosure - Common Stock Warrants (Details)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative" xlink:title="0018 - Disclosure - Summary of Significant Accounting Policies (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/RestrictedCashAndMarketableSecuritiesDetailsNarrative" xlink:title="0019 - Disclosure - Restricted Cash and Marketable Securities (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/EquityInvestmentDetailsNarrative" xlink:title="0020 - Disclosure - Equity Investment (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/Share-BasedCompensationDetailsNarrative" xlink:title="0021 - Disclosure - Share-Based Compensation (Details Narrative)" />
    <link:calculationLink xlink:type="extended" xlink:role="http://petrohunter.com/role/RelatedPartyTransactionsDetailsNarrative" xlink:title="0022 - Disclosure - Related Party Transactions (Details Narrative)" />
</link:linkbase>
