Second, I think getting the OIPO's into play is not high on the...

Second, I think getting the OIPO's into play is not high on the list of agenda items for OIP given that the company has been sitting on its cash for the best part of 18 months rather than doing what the company initially listed to do as per its PDS and that is using the cash to drill for oil and conventional gas. They certainly don't need the money as at the current rate of cash burn they have enough cash for 3-5 years.

Lesson well and truly learnt here - will never buy options again as you are too reliant on company's actually doing what they say they are going to do, and the assumption that company management actually want optionholders to exercise doesn't always hold true (at least if you hold shares, whilst their value may go down as a result, they haven't expired worthless when the company subsequently makes a big announcement).

Disclosure: I hold options but not shares.