what you say is correct, but the oppies give more leverage or...

what you say is correct, but the oppies give more leverage or similar exposure to the upside for less money.

If ctp hit a mass of oil, option holders enjoy the spoils like shareholders.

If ctp finds nothing at all in 7 holes, & the sp flops to say 5c, then option holders wouldn't excise their option to buy the shares at 25c.

Remember options give you the right, but not the obligation to buy shares.

ctpoa's are highly valued because of ctp's good chance of being worth lots over the next few years.

cheers

eg. You have $5k you want to play with.

With the shares you can buy 25,000 (at 20c)
With the options you can buy 50,000 (at 10c)

If ctp hit a mass of oil & the sp goes to $2 then:

The shares are worth $50,000