Connacher Oil and Gas

On the 'other board' some have posted that a lot options owned by insiders and strategic outsiders :) have a strike price of $1.40, therefore a buyout offer would have to be $1.50 to entice the option holders to sell. Does anyone know if the $1.40 figure is correct? There about 26.3m options held by employees, directors etc. Fidelity I think still owns 19m shares, dunno at what price.

Gotta think this co. is worth more than .79c I'd take $1.50 in a heartbeat! Expecting anything more than that I think is a fantasy.