mmro v mmr, page-2

Basically, with the listed options you have the opportunity to pay less initial capital now and pay the extra amount at a future date to turn the option into a fully paid share .

In the case of MMRO, the extra amount needed to turn the option into a fully paid share (20 cents) would be payable by July 2013 .
So, if you wanted to buy 10,000 options for 15 cents ($1,500) cents tomorrow you would get leverage to the same fundamental success/failure of the company's pursuits but effectively risk less initial capital than you would if you bought 10,000 fully paid shares at 29 cents ($2,900) .
Of course if you want to spend $2,900 on options you will be able to get 19,333 options which effectively gives you better leverage to any anticipated success you feel the company will have over the next 4 years .

The length of time till expiry of the option (MMRO) and the expectation of the fully paid shareprice (MMR) to rise before expiry in 2013 means that they are trading at a premium at the moment .

Sorry if this is confusing but the opportunity for success is the same for option and fully paid whilst expiry date is so far away and the period for drilling a massive gas target is coming closer . I hold both MMR, MMRO, and BUY .