I'd love to know what's happening too, at one stage it was all Liam could talk about in interviews and now it's not mentioned at all.

All I know is that Liam's production company has already bought the rights to the book the movie is being based on ('The Longest Cocktail Party') so something will definitely happen. I hope.

Liam went to the Canne Film Festival in 2010 to announce the project along with the film's producer but literally nothing else has been mentioned besides Liam in a few Beady Eye interviews saying they are "working on the script still", he wants Johnny Depp, Beady Eye are going to do instrumentals and they are trying to get permission from Paul/Yoko on using late period Beatles music for the film. A key part if you ask me. If Beady Eye do covers it'll be lame. A Beatles movie with no Beatles music? Not wise if they can't lock that part down. I'm sure they will.

Pre-production for a film can sometimes take years (script writing, casting, budget, location scouting/filming). Post production can take months (editing (sound and film editing) sound tracking).

Doesn't surprise me that we haven't heard much. Wouldn't surprise if we didn't actual see something substantial, such as a trailer, for another year or two. Pet projects like this can easily go on forever, especially when the pet project belongs to someone who is not exclusively in film.

Jut passing by to say that the band was busy working in a studio in north London but have decided to take a shortbreak
well at least they'll start by the end of may i believe
according to Gem's relatives, the boys were writing seperately until now.
can't mean that they r doing this soundrack ?

I thought Liam was producing a film about Oasis?