"Whatever happens next, I wouldn't be too surprised to see the deadline extended due to the XTO takeover (who would buy himself that kind of knowledge and then NOT use it?) and a probable discussion on Phase 2 terms and conditions which seems kinda logical from an economical angle given the current desperate financial situation FO has itself gotten into."

Thanks Richard, these are my expectations as well. It would be great if Exxon just exercises their option to move to phase 2 on time and at the agreed pricing, but maybe not too realistic given the results from the Foldeak 1 well. One of the small bonuses in this scenerio would be a short term jump in the share price if Exxon is the one requesting an extension on the timeline.

Regards Paul