CXO Chart, page-659

Current MC after today's movement


Undiluted
270,928,583 x 4 cents = $10,840,000

Enterprise value
$10,840,000 less $2,400,000 = $8,440,000

Diluted (CXOOA's)
385,793,542 x 4 cents = $15,431,741

But they would have $5,743,248 in extra cash should all CXOOA get exercised.

Diluted enterprise value (hypothetical)
$15,431,741 less $5,743,248 = $9,688,493

Basically trying to highlight that those oppies with their expiry date are perfectly positioned to keep funding CXO into what we hope is a successful drilling campaign.  At today's prices, 6.5 cents is the target (minimum) considering people are paying(about) 1.5 cents for the Options at the moment.

I've personally held both options and heads at different times but whilst there is a current 'premium' to the price of the Oppies, they are priced well considering the possible blue sky CXO may have.

As always, CXOOA's are very likely to be worth nothing and most Options buyers have been burnt pretty hard in the past.  RIP GBXOA