"Without sitting on the fence too much we need to see how things will unfold and I'd hope within the next seven days it'd be a bit clearer on what's going to unfold," Petroro told Trade Radio on Friday.
"I will say that throughout this process Nick was aware there were two options and that was staying or going. Nick's never gone through the process basically saying one out 'I'm staying at St Kilda or I'm going to North Melbourne'.
"He's understandable that each party needs to win out of the situation and until we get to a decent compromise, we're still not sure how it will unfold."
Any possible move of Dal Santo to North Melbourne can still take place with the left footer being a free agent.
"The AFL have given us the undertaking that if both parties, that's St Kilda and Nick, choose to tear up that clause, and make it null and void, Nick would be declared a free agent," Petroro said.
"It would have to be a mutual agreement. If that means the best deal is achieved for all parties, then yes (he might become a free agent)."
St Kilda list manager Chris Pelchen also said the Saints were waiting for Dal Santo's word on their official website.
"Nick has a contract extension available to him for 2014 but has not yet decided on his immediate future at the Saints. We are very respectful of his contribution and popularity at St Kilda and hope to have a definitive answer on whether he remains with the Saints in the next few days."
