I think what the original responder meant is that you pay 0.108...

I think what the original responder meant is that you pay 0.108 in total. 0.008 now for the oppies, and then 0.10 later to convert the oppies to heads. Obviously you wouldn't do this unless the heads are worth more than 10c at expiration.

Let's say the heads get to 14c by June 30th. You'd then have already paid 0.008 for the ops, then to convert them to heads you would pay 10c, and you'd be able to sell them on market for roughly 40% gain.

If the heads are 25c at expiry, you'ld be sitting on a 15c gain after paying your 10c strike price on the oppies.

Keep in mind there's 2 payments with converting oppies to shares. The first is to buy the oppie in the 1st place, the second is the strike price on expiration of the option (or before expiration if you want).

The potential gains on the ops are huge IF the share price goes up by a lot. I own some VILO for just this scenario. However, there's a lot less risk in owning the heads, as they don't expire and if they go to 14c as described above you're sitting on a near 350% gain by owning the heads and a 500% gain

(Jun30_price - strike price)/oppie cost
in this example it's 14c-10c/0.008 = 500%
for the oppies.

So owning the heads would still be profitable, but you have less chance of losing ALL your money in the case the heads aren't over 10c by June 30th - a very real risk at the moment. By owning the heads you're able to hold them for 6-12-24 months if you think VIL is going places after this first couple of wells.

If I could turn back time I would have bought and held the heads rather than risking 3.5k on the options, not worth the risk at the moment if you ask me.

DYOR and GL to all holders.