Considering the outcry from fans over ending the first season with a cliffhanger and then having the show cancelled, when the show was given a seven episode reprieve the word was that the writers would script the story as an arc that would conclude at the end of the seventh episode. The idea was that the ratings might not be strong enough to sustain the show beyond this, and it would be pretty stupid to aggravate the fans with yet another unresolved cliffhanger.
Now the latest word from from actor Lennie James (who plays the mysterious Robert Hawkins on the show) is that:
"Right now, we do not have a plan to wrap it up at the end of episode seven."
No disrespect to the man, but he is after all, just an actor on the show and not a producer or writer. Personally I really hope that they write the show to have some sort of closure by episode seven while still leaving the door open for the series to continue on if the ratings are there to justify that.