I’m pretty sure that a lot of people are eagerly anticipating the film adaptation of The Hobbit. Count me in as one of those people. I’m a huge Tolkien fan so It’s already a given but with the adaptation to be directed by Guillermo del Toro, who is one of my favorite directors, my excitement for the movie has doubled.

The initial release schedule for The Hobbit was already pegged for December 2011, and that’s just a little less than two years away. But then, this is Hollywood and schedules are sometimes meant to be broken. According to Warner Bros., it looks like The Hobbit will only be ready by the last quarter of 2012. A full year after the initial 2011 scheduled release.

Where does the movie — two of them, actually — stand in terms of its work schedule? The script for the second film is still being finished by Peter Jackson, Fran Walsh, Philippa Boyens and Del Toro. Only after this has been submitted and approved would a budget for both movies be locked in along with the start of casting.

Looks like we’re in for a longer wait, Tolkien fans.