This is the far leg stomp I was talking about, obviously in one of the gifs he already has wrist control, but its the same concept.
http://oi57.tinypic.com/2j2b98p.jpg
http://oi58.tinypic.com/2rhpkxg.jpg
Ignore the punches, but when the try press your hook down you can get the wrist.
http://oi60.tinypic.com/2mxrdbq.jpg
If you fail to get wrist control you can granby to 50/50 or sit up on a single (again the knee push here can help off balance and create space first).
http://oi59.tinypic.com/2zpil4i.jpg
http://oi61.tinypic.com/20us7cw.jpg
Anytime you get the far wrist, stomp the leg
http://oi60.tinypic.com/9jj41s.jpg
With the near wrist if your stomp is timed well you might break them down well enough to attack omoplatas or triangles
http://oi61.tinypic.com/168vitx.jpg
You can begin working towards the back, if they shift their weight to defend use a deep hook and push at their armpit with your leg to topple them forward and take the back.
http://oi58.tinypic.com/90nf6f.jpg
http://oi57.tinypic.com/6f9q8k.jpg
If they pull their trapped leg out switch to foot on the hips or instantly attack with the sickle/tomahawk sweep. If they step away or over from that swing your leg back in and around to single leg x.
http://oi59.tinypic.com/iglxxx.jpg
http://oi62.tinypic.com/2vdpf2h.jpg
The hardest thing you will probably come across is maintaining the position, especially if you are learning it in no gi. In the beginning I would suggest holding any wrist grip with two hands, with your palms facing opposite directions. You won't be able to control the foot this way so you probably will get passed more in the beginning. However if you try hold the wrist with only one hand and control the foot with the other you will probably end up with lower sensitivity for the position and relying on only one or two options.