>Hi Lanman, what is your interpretation of these paragraphs?

I don't know what to make of Mr. Cejka's statements. All the info we have so far is very conflicting. It's hard to say whether or not Exxon was going to make their decision on phase 2 based on their 3 wells, or if they planned on staying for 3 or 4 years before making up their minds about the Mako Trough.

We also don't know what Exxon thinks about the results of the first 3 wells. Those on the outside are disappointed that gas didn't flow. But how do we know that Exxon isn't excited over the fact that fracing seems to be easy? After all, before the frac on the F-1, there was apparently no movable water. After the frac, they had up to 3100 barrels a day! Their wells, as well as Falcons wells, have proved that there is an enormous amount of gas in the Mako Trough. The frac jobs done so far show that the rocks can be opened up. All that's left to do now is frac in the right locations.

Have another look at MOL's "Unconventional Presentation"

http://www.molgroup.hu/repository/410158.pdf

Notice there are two timelines, one on page 5, and the other on page 6. They conflict with each other. The one on page 5 shows a 2-4 year "exploration appraisal" stage consisting of "Resource delineation, seismic and drilling activity", which is followed by another 2 years of "Test and develop technologies". It shows that the determination of economic viability will take up to 6 years!

And then there's page 6, which shows a goal of "proving commerciality of production", which only lasts 2 years. I don't understand why they have 2 different timelines shown.

So the only thing we know for sure at this point, is that we need to wait for another few months :)