Member Info for 805slo

Pretty disappointing. Clearly, the holding company waited until the 11th hour to interplead into the case and create a delay with the hope the court would not rule until after 3/30. Perhaps they will be successful. I would really like to see the pleading. In any US federal court, that would be easy to access but not sure here. They are obviously upset about something, as evidenced by their approach and timing. The holding company is not doing the bidding of the russian oligarch but I assume has fiduciary duties.

The significant challenges appear to be with the timing. However, if the court does eventually approve, I am guesing its just means more time. And then there is the question if they can then appeal. I don't know the procedure but generally you cannot appeal until there is a final order. And what constitutes a final order is a whole other issue in US caselaw. Hopefully this is not something that be appealed.

As always, our leader and board were asleep at the wheel.

Sorry, Lamesa should read Viktor.

My lay thoughts. I cannot imagine the release on some oil sanctions by the US has anything to do with this. Lamesa was individually sanctioned and his shares are in holding. He has no voting rights. Hence why there was 99% approval.

The bigger issue is getting a FINAL order from the court on the close and completing the remaining actions to finalize the deal by March 30, 2026. If that does not timely take place either TBN or FOG can walk away from the deal. Not sure how fast this court moves but many courts move slowly. I think both FOG and TBN want this deal so worst case scenario is more of delay. But that is what we have come to expect with FOG….nothing ever goes as planned.

Sounds like the holding company intervened and filed some sort of objection to the deal no Lamesa himself. I wonder what the basis is for opposing?

A very happy 80th birthday. You are a blessed man.

Longknife….did you expect otherwise? Those nice lads on the Hot Copper board have FOG derangement syndrome. We will get there. Our kids…maybe grand kids will be the benefactors. Cheers.

The recent jump in price was attributed to a spice in gas prices which came down…along with TBN’s share price (and FOG) IMO. The HotCopper board seemed to think it was the beginning of something special. NEWT, I think you found your people. Those folks have some rosy glasses on. Kidding. I bought more FOG shares while we were trading at a discount. Obviously, the pending sale cause FOG to rise closer to the merger price. I think that is about done so now we wait for the transfer and hope for good news on the 30 day and the farm down. Anyone know when Beetaloo Energy might release its 30 day?

Not what we hoped from but I think the positive is it seems flow rates are pretty consistent for most of the basis. Seems like dearth is what is important to get higher flow rates. Lay persons perspective of course. For me, this highlights the importance of FOG merging with TBN as the deepest parts of the basis are in pilot area and the farm-down area for which we have no $$ to participate.

No, they have executed everything in accordance with their build plans. Make you wonder why TBN is paying extra money for a US company that has not executed a fracking plan without issue. Def can't blame Riddle this time. Super frustrating on the heals of their attempt to get a farm down partner. I think we should hear from Beetaloo Energy on their 30 day soon. For me, that is a bigger catalyst if they get good numbers in a shallower area as their costs are far less than TBN.

DP, I struggle to see how FOG is better forging ahead alone than with this merger???? POQ has done nothing and from the sounds of it the board is a mess. TBN inherits the same rights as FOG had before. I never thought FOGs deal was as good as some gave POQ credit for. I kept asking how any of this matters if there is no $$ to play. I just do not see how FOG would do better by walking away from this deal. I also think TBN has the same goal….to be bought out by a major at some point. It was fools gold to think one could poke a few holes in a rural area and offload the assert for a billion dollars. Everyone wants a ten bagger or more. But that rarely happens and did not happen here. Who is going to pay lots of cash for FOG when everyone knows we have no money? Why not let FOG fail and buy into different DEUs at a cheaper price with TBN? Or why would a major want FOG who has no drilling rights? I just do not see how we get much value here. As I see it, the quicker POQ is out of the picture the better. And there is no one that can step in save this mess.

POQ deserves most of the criticism he is getting. Something we’re outside of his control. I wish there was a way to claw back his ridiculous pay. But in the end I think FOG is better positioned with this merger. Of course, if someone came along with .50 USD I would jump on that. But anything less I would prefer to wait and see how this matures.

I do wish POQ would have the ba!@S to have another investors meeting so we can pepper him with questions. At the very least give us a forum to point out what an overpaid bloke you are. After all, right before this deal you encouraged investors to buy MORE shares when you knew you were about to sell us short. GLTA.

I think TBN's equity raise resulted in 1/3 of what they were hoping for. Not sure if that means more dilution to come before the farm down information is released. That would create some downward pressure. I also think we will see downward pressure on risky equities in the US if the market starts to fall apart. AI stocks are really holding the US equity market together and things seem to be very overvalued. When or if a correction happens I would expect TBN's price to move down. Obviously, there are several things that could happen between now and then that could increase TBN's share price or offset a big correction.

I also wonder if the "deal" between TBN and FOG will change as we are now trading below the agreed upon stock price of 24/share. That would be a real bummer. I don't think POQ has much to negotiate with at this point. So I wonder if things do not go as TBN anticipates (like the recent $$ raise) they decide to change the terms of the buyout. GLTA.

And the pilot area has been split 50/50 with DWE if I am reading that correctly. I assume so they would agree to put up an additional 100,000 acres in the Phase Two development subject of the farm down.

Looks like not much new information other than the Phase Two development area has been increased to 500,000 acres. Wonder if they were having a hare time with a farm down?

They are waiting for some testing equipment. I am sure they will announce when the 30 day begins. It was an unavoidable delay.

Https://www.rigzone.com/news/baker_hughes_plans_to_buy_into_tamboran-24-oct-2025-182159-article/

It looks like Baker Hughes is buying some of the shares in the latest cap raise. Anyone in the industry know more about them and what that might mean? They appear to have been in the game for a long time.

Thanks Newt. US market responded positively. Not what I expected.

Wondered how they would pay for FOG. No bueno. I am sure we will see red mañana.

Frackme, I have not followed TBN as closely. A foreign company can be listed on the NYSE. My understanding is their headquarters is in Sydney. Are you saying they intend to move all operations to the US? That would not make sense to me.

Frackme, I agree but for one point--that POQ negotiated a brilliant deal. One astute poster a few years ago pointed out that acreage valuation in the realm of what POQ has referenced in the past would take 100’s if not 1000’s of wells. He or she compared it another play in Chile (might be wrong about the country). Not all areas will be as productive as others which the RaaS report recently posted mentions. The gas and oil industry has used a checkboard approach to help identify more productive areas from less productive areas. If one area is less productive, they move onto the next etc.

So, I think those in the “know” got this and saw the deal for what it was.

The current deal TBN, POQ must have been negotiating prior our last investor conference IMO. Hence, why he mentioned a buyout might look like stock in a company in the Basin so FOG investors could get the long-term benefit. Or why his pitched low-ball numbers. He specifically said we had enough cash to get through 2025 and most of 2026. That was not the case, and he knew or should have known of the APA bond that was due. With no pipe access the right to gas is not worth much.

I do agree this is the best path forward for FOG shareholders. I also think BS is not going to pull the rug from under TBN. TBN is an Australian company, and he will need that to deal with some of the politics. Pure speculation on my part, but I suspect his long-term goal is to eventually have TBN sold to a major which will provide additional funding for him to carry more development on the areas his company owns. I think his mindset is 20-30 years.

Right now, I think the biggest piece of news we are waiting for is the results from C-5H. If they obtain rates around 10MM it further derisks shallower areas that are less costly to drill. Though, that does not mean every shallow area will produce as well. That IMO (which is not worth much) is next important piece of news. GLTA.

On final prediction, I do think TBN's US share price will get some pressure downwards. US markets are overvalued and many are predicting a major correction. Some...even worse. Will good news keep our premium in place??? I have no idea. But if things unfold as many have predicted I see less investment in high risk plays and smart money will move into more reliable assets until the worst has passed.

Thanks Newt. So, basically, we failed to raise money to get access to the one pipeline that can transport gas from the pilot wells and I assume what might also eventually connect to the area targeted for the farm down. End story. Best deal for FOG. We can all complain about POQ and what he did wrong but we basically have rights to molecules and no means to get them anywhere. So why would someone wants to buyout FOG at this time for a far greater value?

Cam, let’s keep it factual. A top US litigator is not going after TBN. Two law firms have announced an investigation into the merger to see if TBN breached its fiduciary duty. One firm has two attorneys and the other about six. Indeed, this is common practice in the US. These two small firms investigate mergers and acquisitions. Anytime there is a merger they issue a press release saying they are doing an investigation. The press release is designed to attract shareholders so they have a plaintiff to file a class action lawsuit. Investigations are announced every day by these types of firms. Here, there are two small firms that have done so. In any event, since the announcement TBNs share price has increased significantly close to its 52 week all time high. And it appears per your own statements you think this is a great deal for TBN and a bad one for FOG. I think it would be quite the stretch to say in this situation TBN breached its fiduciary duty. Do you not think these terms are the in the best interest of TBN? Your posts would suggest otherwise.