Ann: Notice of Annual General Meeting/Proxy Form, page-3

Directors rewarding themselves, happens in most companies, a fact of life. The exercise price of $1.50 per option may give holders cause for being optimistic about future SP. What we know.
1. Options to be granted by resolution at AGM
2. Term 3 years
3. Blue Ocean/valuation say Reserves Certification Q1 2021
4. Exercise price happens to be same as Blue Ocean target price
5 Blue Ocean unrisked valuation $2.85 to $3.50
The big question seems to be in the timing of directors exercising the options, i.e. depending on any, if any, commercial negotiations for sale of company assets or part thereof. If they elect to retain all assets and become a producer in own right with GSA's this would allow directors more flexibility in exercising the options.
All of which is dependent on proving up the gas in BIG numbers.