>Hopefully, in due time we get to the Development Phase and then Falcon will collect the third payment that’s worth $75 million dollars.

Actually the 3rd payment was reduced by 50% back in December. Falcon is to get $37.5 million and the other $37.5 has to be applied to the development costs.

The Third Payment (as defined in Section 14 of the PDA) shall be amended to be a payment to Falcon (or its designee) of the amount of US $37.5M (instead of US $75 M), which represents the payment by ExxonMobil Mako of US $18.75 and MOL of US $18.75M

One thing I just noticed, is that the money will be coming from Exxon and MOL. If I'm not mistaken, the first $25 M was paid fully by Exxon only.

It's also interesting that there appears to be 4 stages now, not 3. The Initial Work Program, the Appraisal Work Program, a Pre-Development Work Program, and a Development Work Program. Falcon gets the $37.5 if they proceed to the Pre-Development Work Program.