I am indebted to Gordon Cougar for the link below.
Aparently, Albert Einstein was interested in airlift to such a
degree that he had international patents on a refridgeration machine
based on it!
There is some research info at the link below which might be
applicable to pulser pumps. Should be an interesting read for those
of you who are into the fine detail of 2 phase flow.
Hopefully, I will be able to do a synopsis of the relevant findings
and post them here.
Brian White the research link is below
http://www.me.gatech.edu/energy/andy_phd/one.htm