should i exercise options

I bought Options at 8 cents and was going to sell but then they went into trading halt.

My questions is Do you think it is worthwhile to convert the options into heads. Will they recover to 38 cents or more soon.

The heads were looking okay until the announcement about Pattersons underwriting the options. I feel the share price has been pushed down now just to make sure that Pattersons get more options. They will make an easy profit on a good announcement which I expect will happen in July.

Opinions and suggestions appreciated.