Even though pre-production for the motion picture based on "The Hobbit" hasn't even begun, rumors have been flying that there will be not be one, but two films based on the classic work of J.R.R. Tolkien, according to SciFi Wire.

However, Guillermo del Toro, who will direct the franchise film (or films), considers this speculation to be premature.

"We believe there is a second movie," he said during a recent appearance while promoting "Hellboy II: The Golden Army." "If there isn't, there will not be. If we find it, we will shoot it, but by God, if we do not find it, we will not shoot it."

If there are two films, the chances of them being shot back-to-back like Peter Jackson did with the Lord of the Rings earlier in the decade is unlikely.

"I am anxious to shoot the book, and I'm willing and able to dedicate myself to shooting the second film," del Toro said. "It is too early right now to say."

According to published reports, the first film will bring to life the events in Tolkien's original book published in 1937, "The Hobbit, Or There and Back Again." Del Toro said that this is his favorite of all Tolkien's books.

If there is a second movie, it is expected to link "The Hobbit" to the first part of the Lord of the Rings trilogy, "The Fellowship of the Ring."

"Four books are in the domain of the copyright, and there are appendices and ideas and things that can be traced without risk, but I have to be careful not to overstep," del Toro said. "We believe there is a way to create this film and make it interesting, but it's too early."

Del Toro and Jackson, who is serving as producer and co-writer for the "Hobbit" movies, are meeting with studio executives to sort out how to proceed.

"Hellboy II: The Golden Army," which was also helmed by del Toro, opens in theaters July 11.

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