why option expiry should be extended, page-16

Gassed
If they have done all you say then the best option is to start a class action against them.
The only problem is lack of money to pay a settlement but at least you might be able to ban them as directors.

The reality of investing in small oil exploration companies is that most of them are run badly and the number one consideration for most of the directors is their slalaries and free shares and options that they get.