http://www.energyintel.com/DocumentDetail.asp?document_id=649815

The article requires a subscription, but you can sign up for a free trial. I find it hard to believe that Exxon would be telling a reporter what their plans are, but it's only fair to point this out.

"A $50 million initial work program in the Mako Trough was a disappointment, however, and Exxon now says no further operations there are planned."

Of course you could put on some rose colored glasses, and this could simply mean that until they officially begin Phase 2, they don't have any specific operational plans.