"Exxon only agreed to do the work on the basis it would then be agreed that they would have met in full all their obligations."

I think it was fairly clear when Mol/Falcon announced that only "one" more fracture test was going to be undertaken at this time that there wasn't any more JV funds available for more than that. The original plan called for two more fractures higher up the Foldeak but when they announced that there was enough money to do "one" more, then it was fairly clear that the $50 million committed would be gone. As to whether this means that Exxon is not going to phase 2 if they don't like the results from this latest fracture - this has probably not been decided and maybe won't till closer to the deadline. Either way, it sure sounds like Mol is not giving up on the Mako and as long as they don't give up then Falcon will still be a key component of whatever the next phase is. I see that we currently have a million shares bid at 18 cents so someone is thinking the same thing as many of us are - hopefully!! At today's pricing level it could just be someone like Cannacrap getting ready to make a quick buck after selling so many over the past few days, but I will take whatever little bits of positive indicators I can find right about now!! Regards Paul