"Seems to me Exxon would have a little more positive to say about potential with what they know about the Mako now that they have a new pack of ringers in the club."

XTO would not have seen a single piece of propriatory information, like Mako seismics or Foldeak drill core samples, from Exxon as yet IMO. Until the take-over completes later in the spring neither party can be exchanging propriatory information just in case the friendly take-over does not complete for any reason. I am sure that both parties have had verbal discussions about where XTO may be able to bring their expertise to bear, but there is no way that XTO technical staff have been given access to any of the Mako logs or seismic data at this point of the pending deal. That is why I think that we could hear something in February that extends the Phase 2 deadline, if Exxon hasn't made a firm commitment by then, so that XTO can bring their extensive knowledge to bear on the Mako Trough.

Regards Paul