quarterly, page-16

I think this bit may have encouraged a few buyers and more to come hopefully.

............ "Otto undertakes to lodge a Sub-Phase 4 work program and budget with the DOE;.."

The word budget is the key here. It clearly implies Hawkeye will be drilled with or without a farm in.


And again in this bit.

Upon execution of a definitive agreement, Otto intends to submit a 2014 work program and budget to the DOE outlining the intention to undertake drilling of the 3D seismically defined and DHI (Direct Hydrocarbon Indicator) supported Hawkeye-1 exploration well in Sub-Phase 4.


And again in this bit "...necessary equipment procurement..."

Otto will undertake drilling planning preparations in the coming months, including development of well designs and the necessary equipment procurement required to undertake this programme. Otto will also commence a farm-out process intended to introduce a new partner into the joint venture to participate in this program.

One can conclude that drilling will go ahead either alone, or more likely with a partner(s)
C