Talks chairman Sen George Mitchell insisted the process remained on track last night despite admitting disappointment at the failure to produce a draft of a possible settlement yesterday.
Mr Mitchell said there had been many setbacks in the peace process and this was not the worst. "It might be said that, in the context of a conflict which has gone on for centuries and a negotiating process which has gone on for years, a few more hours won't make much difference."
Emerging from Castle Buildings shortly after 10 p.m., he admitted the complexity and "interdependence" of issues had defeated attempts to produce a comprehensive paper by yesterday's deadline which he had set himself.
However, he insisted the setback could be used to advantage. "It may sound paradoxical but if we take a little more time to get this package ready and have it more nearly right the first time, I believe we'll save time over the next several days."
He refused to blame the two governments for the delay. Asked if the disagreement between Dublin and London this week had been a contributing factor, he said: "It would have been helpful if they had been further along but that's true of many other issues and many other parties, and it's true of us too."
The three joint chairmen had been aiming for a "single comprehensive document which would serve as a basis for full agreement", he said. The "vast majority" of issues had been completed and while it was disappointing that the full document could not be presented, it was also "gratifying" that so much had been completed.
Asked if Monday was the new deadline for the full document, he laughed and said: "I'm the guy who said it would be Friday."
The Sinn Fein president, Mr Gerry Adams, echoed both the disappointment and optimism. "We're disappointed that there was no paper tonight but there will be a paper."
He added that apart from the overall setback, the party had had "an otherwise productive day". There had been a series of bilateral meetings covering a range of issues, including policing, the release of political prisoners and "Britain's presence in this part of Ireland".
He stressed the party's belief that only real change - "if you like, in-your-face change" - would lay the basis for a settlement but said he believed this was possible.
The leader of the Ulster Democratic Party, Mr Gary McMichael, was the first to emerge from the talks last night. He said it was "very unhelpful" that the deadline for a draft overall agreement had been passed.
He said it had been rumoured that "one element" of the paper would be presented to the parties, but his party believed that such a move would be unacceptable. They wanted to see the paper in its entirety.
"We were not prepared to see a sectional paper presented."