tpt; please, please wake up!, page-88

Thanks Kfann.

It seems like the people holding the options take the risk because if no oil is found they could likely expire worthless (hypothetically) as they are so far from the money. The company therefore gets the cash now without dilution in the event of a failed event.

Win, win from the companies perspective because if they fail they can cap raise anyway later at a much lower price than what the options are set at, so they get more than one bite of the cherry and poor old shareholder takes it up the clacker again. Mind you if successful I suppose it works both ways, with the exception if you don't participate you end up taking it up the clacker again.

I must admit I like that TPT are fully carried for both drills, and there's some fat on the one in Morocco. Don't know about australia though, $35m is not a lot for 2 drills, after 3d...be intersting to find out their plans when they decide to let the market know one day.