Cool M dwarfs outnumber sun-like G stars by ten to one in the solar neighborhood. Due to their proximity, small size, and low mass, M-dwarf stars are becoming attractive targets for exoplanet searches via almost all current search methods. But what p
lanetary systems can form around M dwarfs? Following up on the Cool Stars~16 Splinter Session Planet Formation Around M Dwarfs, we summarize here our knowledge of protoplanetary disks around cool stars, how they disperse, what planetary systems might form and can be detected with current and future instruments.
We report the detection of transits by the 3.1 M_Jup companion to the V=8.17 G0V star HD 17156. The transit was observed by three independant observers on Sept. 9/10, 2007 (two in central Italy and one in the Canary Islands), who obtained detections
at confidence levels of 3.0 sigma, 5.3 sigma, and 7.9 sigma, respectively. The observations were carried out under the auspices of the Transitsearch.org network, which organizes follow-up photometric transit searches of known planet-bearing stars during the time intervals when transits are expected to possibly occur. Analyses of the 7.9 sigma data set indicates a transit depth d=0.0062+/-0.0004, and a transit duration t=186+/-5 min. These values are consistent with the transit of a Jupiter-sized planet with an impact parameter b=a*cos(i)/R_star ~ 0.8. This planet occupies a unique regime among known transiting extrasolar planets, both as a result of its large orbital eccentricity (e=0.67) and long orbital period (P=21.2 d). The planet receives a 26-fold variation in insolation during the course of its orbit, which will make it a useful object for characterization of exoplanetary atmospheric dynamics.
