Ann: Operations Update - Project Icewine, page-182

Based on past scar tissue from various sorties into speculative oil stocks this was my exact strategy from the beginning. So now I sit with a free carry of several million options at average price of 0.004 and plenty in reserve to exercise or not. Plus 1 million heads also part of the free carry.
Whatever happens I support the current management who, save for a tad over dilution, have not put a foot wrong yet. It is rare for management to communicate as well as they have with the small retail holders. Very rare.
The conventional oil probabilities are sufficient IMHO to keep the average price above 3 cents for quite a while if the fracking turns out to be too expensive and not effective in the medium to long term.