Here's something for Lucky Country after he posted this the...

Here's something for Lucky Country after he posted this the other day:

"The question is will EXE want its options exercised ?

Early cashflow from Katherine, JV with CNOOC and already cash in the bank see's EXE in a good position why dilute more at 10c e=why not wait till say 30c then capital raise.

Just my thoughts !!!"

From the last Annual report starting page 15

B Barker BBus, MBA Chairman
Ordinary Shares 52,543,051
Options - Listed 23,109,226

S Harrison BEc, CPA. Non-Executive Director.
Ordinary Shares 40,375,546
Options - Listed 18,350,177

N H Dewhirst BA (Hons), MA, AAPG, FGS. Non-Executive Director.
Ordinary Shares 52,343,051
Options - Listed 22,909,226


Total listed EXE shares : 417,357,759
Total shares held by board : 147,261,279 or 35.3%

Total listed EXE options : 172,626,250
Total listed options held by board :64,368,629 or 37.3%

This does not include anything senior management may hold as only the board are legally obliged to disclose their holding. Nevertheless.....

back to your original question Lucky :

"The question is will EXE want its options exercised ?"

I may best answer by borrowing and modifying a quote from fictitious English Prime Minister Jim Hacker.....

Get them by their wallets and their hearts and minds will follow.

It is always encouraging when the board owns such a large slice of a company as there is plenty of incentive to get it right.