Like a comic-to-film adaptation the idea behind The Phantom Annual #2 gets you excited and eager to see what happens. The actual pay off, however, just doesn’t quite cut it. Before I get too far into this review I will say straight off the bat that I’m not 100% happy with The Phantom Annual #2 and that it’s probably my own fault. You see, I wanted to love this issue, and what fan of Lee Falk’s characters could blame me? A meet-up between the Phantom, Mandrake and Lothar, something that has not been done right since the Phantom’s wedding, is one exciting prospect. Three classic characters, together. But, alas, it was not to be...
The issue starts off wonderfully with a very powerful interrogation scene that sets up the events of the story. It's brutal, it's gut-wrenching and it introduces a villain whose evil obviously requires the combined strength of our three heroes to take him down. This is not going to be a "safe" story. We are then introduced to Mandrake during a performance in which he marvels the audience. Then we meet Lothar who really looks like a guy you would not want to mess with. The modernization of the two characters works wonderfully and does not at any point feel out of character for either of them. After some sleuthing by Mandrake and Lothar the scene cuts to Bengalla.
In classic Mike Bullock tradition the Phantom is introduced brilliantly. He looks powerful, he looks majestic, he looks as he should. However, it is not long after this things start to get wobbly.

After his introduction the Phantom allows a thug to be mauled to death by a lion. This feels terribly out of character. The thug is standing right in front of the Phantom when the lion attacks, the Phantom could have easily taken the lion out with his spookishly fast gun play. Instead he makes a smart remark and listens to the man die. This scene actually had me wondering who wrote what for the rest of the issue, Mike or Kevin Grevioux.
From here the story speeds up a little too much. Everything feels rushed and scenes feel forced. Mandrake and Lothar just appear in the jungle and start battling the baddies. There is no mention that they where venturing there other than a little hint from Mandrake that they would "take a holiday." Surely thay would have contacted the Phantom? The Phantom finds the thugs very quickly and simply rushes into the frey, there is no actual being a phantom, a ghost. Then, suddenly, the villains are back in New York. Umm...what?
The biggest disappointment, and possibly the biggest flaw in the book, is the reuniting of the Phantom, Mandrake and Lothar, as in there is none. There is not one frame of "Mandrake, my old friend, it's been a long time." Or friendly handshaking. No, it's just straight onto the story, as if the characters all expected that the separate strands they where following would cause them all to meet up. It's amazing that a book whose biggest draw card is the reunion of Falk's characters doesn't even address said reunion. It doesn't feel important at all. Either set of characters (Mandrake/ Lothar, the Phantom/Guran) could easily be swapped out for any other set of characters and there would be no affect on the story. Indeed, there need not even have been a meeting between the characters as the conclusion of the story in no way shows how one character could not have gone without the other. The whole last half of the story feels very sloppy and really ruins what started off as a great comic.
Sadly, the art can not win this issue many points as it is way too inconstant. At times there are some marvelous moments, such as the reveal of the Phantom on page 18, Mandrake's magic performance (pages 6-7) and the final page of the issue. The majority, however, ranges from decent to plain awful. Pages such as the drug testing scene halfway through and the final battle are messy and dull. The colouring, however, is beautiful throughout and Goncalves should be applauded for that. All in all The Phantom Annual #2 is a let down. This book was supposed to be a launching point for Moonstone's forthcoming Mandrake books. However, there is really no explanation of who or what the character is. We see he has powers, but of what kind? Are they actual manifestations or does he just make people think they are seeing these things? What is his relationship with Lothar and why does Lothar refer to Mandrake as "boss"? How do Mandrake and the Phantom know each other? Questions such as these go unanswered and I think those uninitiated with the characters of Mandrake and Lothar are going to feel completely lost here.
Moonstone, Mike and Kevin, sadly, have really let a great opportunity pass here. This book could have, and should have, been like those big event issues other companies have that spawn fifteen other titles. Instead we have a big letdown for phans and a bucket load of confusion for newbies.
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