Unfortunately for the options the timing is out by some 6-12...

Unfortunately for the options the timing is out by some 6-12 months IMO. It 's the risk that option holders took, so no need for blame games. Even if Surprise production went as planned I doubt it will shoot us pass 80c. The only hope left is if Mt Kitty flow many milllions of cfpd with 6% helium! The rest is just seismic and interpretations - that's not going to help.

Reading between the lines, those options provide an overhang for the sp of CTP and are not considered 'Institutional Grade' while it is still around. Many investors will not touch companies with that many options. Penny dreadfuls with poor management tend to capital raise with hefty discounts and free attaching options just to attract broker interests.
One thing RC did not do was give discounts and issue free options. Although options can be re-issued or swapped for heads I'm very certain RC will not go down that path for the reasons above. So if they're not in the money they'll be good as dead.

IMO options this far out of the money with such short expiry have a tendency to stagnate the sp until it is expired.