Member Info for 805slo

My guess is that some folks realize FOG is trading at 30-40% less than TBN based on the exchange rate.

I don’t know much about this game. But I do know very little POQ has said has come to fruition over the seven years I have been in and out of FOG. As I see it, the best area to develop currently is where are pilot wells are. And prior to this deal, we got almost nothing out of it. Now, that is not the case if they are successful. Next best spot is right next to the pilot project, where DW has roughly 50%.

POQ nor anyone on this board has convinced me how FOG can monetize our interest. We have no drilling rights…only rights to the molecules. If TBN or DW decided to drill into another DEU (sorry if I got that wrong), we have to pay up or walk away.

There is a lot of acreage spread out over a large area with limited infrastructure to transport gas. I suspect that will change over time if TBN and DW are successful in getting economically meaningful flow rates. In the interim, I think it will be hard to get a major involved, but for the two big DEUs in the deepest part of the basin, where there is pipe working its way to the pilot wells.

I do not believe FOG could simply “sell” a DEU in some obscure part of the basin for much money, provided all the unknowns. And while the deal POQ negotiated sounds unique, so is the rural area. I don’t see how FOG keeps up with TBN and DW without selling more shares. As I recall, the last time we had to raise money BS got some shares for less than market value. If we were in such a good position to raise money that would not have been the case.

And a name change with a reverse split is nonsense. Reverse splits are 90% unsuccessful.

While it is disappointing to anyone who had held FOG shares for years, believing that it would be sold for 1000/acre or whatever, it seems pretty clear our best possible outcome is this deal with TBN. As it stands, I see green for the first time in seven years and once this deal closes…even more green if TBN’s share prices stay near it new high or increase with good farm down news.

TBN’s goal is to get bought out too. But there is much to be done in this rural area before a major offers serious money. And this deal keeps us in the game. That being said, the best stock chat board ever. Hope folks stick around as the hotcopper board is bloated with pumpers. Cheers.

Fingers crossed Cam. But if FOG is desperate because of this bond payment being due then I think another offer is not going to satisfy existing shareholders. Its all quite strange based on our last investor meeting and what POQ reported. For 600g/year one should not be sleeping at the wheel. Sorry for the typos...I have to type a sentence and it takes about 15 seconds for it to show up for some reason. Serious lag with this chatboard.

I am curious about this APA bond that was not mentioned at the last investor conference. We were told we were funded through 25 and most of 26 but for maintenance and some other costs. B2B had some interesting insight into the state of the company which frankly was scary sounding.

I am still trying to understand what we lost here??? B2B and Wet's posts make me think FOG has been poorly run for some time. IF that is the case, then we are prob better off with TBN's leadership. TBN inherits FOG's pay or sit out in all furture DEIs. A quick payout is the only thing we lose but my guess is that was many years off at the price people were hoping for. I appreciated everyone's constructive thoughts. At least, TBN promotes that asset. I really do not understand what the board has been POQ so much money to do. I cannot imagine he is working full-time like most of us retail holders.

What did we loose in this deal? As mentioned, we gain access to the current wells being drilled which will provide some $$ in 2026. If the farm out is in the range of 500m we will have a good amount of cash to continue to add more wells to the current site.

I have been suspicious of how POQ has explained the benefit of the checkers board approach. In my research, it’s a process to identify the more profitable areas of land. Google it. Not all DEI are created equal and majors are not going to be interested in DEIs far away from pilot project. And DW can start anytime where we have to pay to play or loose out. I never thought this “brilliant” deal was as good as some thought. You still need $$ to play. And giving up more acreage is not in our interest. Nor is having to raise money to pay.

Folks have a right to be upset because how POQ has informed the share holders. I think we have wasted 600g/year on POQ for far too long. He gets paid to golf. Enough with that. I am def leaning towards this being better for FOG though I want to hear POQ’s explanation and I hope folks ask him hard questions.

B2B, strange reaction for someone who has attacked anyone who has raised concerns with POQ's leadership. I am still waiting for an explanation from POQ, which I am sure will happen in due time. I am not sure how retail holders stop this, but I am hopeful this might start a bidding war or there is something grand in the works with a major.

POQ has said for the last year or so we are no longer an exploration company. I wondered what we were then. I think he answered that question and intentionally or inadvertently gave plenty of hints as to what would happen. Selling for a large sum has not been the plan for some time, I presume. And I will bet you dinner of your choice that BS was def wrapped up in this deal. I mean...his dad is on the board of TBN because of him.

My guess is there is a major in play but they wanted FOG’s share of the gas as well. My lay persons guess is we will see news that a farm out deal has been made with a major that is dependent on this takeover going through. I previously posted my guess is there would he no cash buyout but an exchange in stock in another company. POQ mentioned this himself in the last investor’s meeting. TBN will be bought out at some point too I am guessing. That is what BS does. And from one of his interviews he talked about having too many cooks in the kitchen and learning it is important to control how many cooks you have to control the price of gas sales. Personally, I don’t think rapid development is the goal. The goal is control development to obtain the price buyout price possible.

That all begin said, everyone has a right to feel like POQ has misled investors or was not forthright in our last meeting. Ironically, I listened to it last night again. Today’s new had me scratching my head but that has been a common theme with FOG to the point I am loosing my hair (really just age and genetics). In any event, I think we should not come to a rash conclusion until we hear more. Just my two cents. I mean, if by end of year TBN is trading at lets say twice the current share price would you opposed the buyout?

I would like an explanation as to the timing. Seems premature. But maybe they know something we do not. POQ need to hold an investors meeting and plea his reasoning. Maybe this is a way to get other offers? I don’t know…it all seems premature and not well thought out provided the information we were given at the last investors meeting.

Some clarity would be great here. I am not going to form an opinion until I have all the information. IM not surprised. BS wants to consolidate all the play and not create a situation in the US where there were too many cooks in the kitchen which flooded the market and lowered the value of gas. I am in the US and trade pink slips so I will assume for now that I will be eligible for the stock exchange. Not the plan POQ spoke of recently but he has never stuck with much of what he has said. Hope he speaks with us soon to explain his thoughts.

Https://stockhouse.com/companies/bullboard?symbol=v.fo&postid=36720804

Any estimate on when the 30 day might be reported? Ty.

I get it. I remember in 2017 when we got some news on whatever the well was named and initially the stock did nothing. Then we had like two days of close to 100% SP gains. I think we hit like .32 USD. The board went crazy with pumpers and the thoughtful discussion I enjoyed were buried in nonsense. I have learned a lot about this field from this board and am very grateful for that. I have some pretty astute financial investors in my family. They think I am crazy to invest in FOG but understand its money I am willing to loose (I hope for the day I can slip them a screenshot of an outstanding outcome here). They are more conservative and have a low risk tolerance. They do not like to loose money period. I on the other hand like a bit of risk and learning about new stuff through investments. Hence why I continue to manage a smaller amount of $$ on my own. My day to day job is in law so I do not have background in finance like many of my family members.

I am hopefully optimistic here in the long run. I just think it’s going to take several more years. I am not interested in a stock swap that keeps me in the basin for many years. But that is outside my control and at the end of the day….it wont matter cause this investment can sit around for years as far as I see it. Though a stock swap might be appealing if its does not reset the capital gains clock and some shares could be offloaded for a profit. In the end, it’s just another opportunity to learn and grow. And cheers to those who have helped me learn more about the gas industry. Always interesting and enticing for a halfwit who likes a little risk.

I don't get the hostile comments. It’s rather immature. I am curious what you big time players are holding in FOG?

I purchased more shares this week and currently hold right around 1.7 millions shares at a .010 average USD. I will continue to purchase more in my private account as the rest of my holdings increase allowing me to follow my personal investment plan. So…I continue to be hopeful FOG will pan out in the long run. I am in my 40’s and I have time on my side. I also have other investments but they are managed through a professional who has made me good $$ over the past decade…who thinks my investment in FOG is risky and not advisable. But its money I willing to loose.

I agree with many of Long’s concerns. And I have my own. POQ does not have a good track record for his predictions. I have come to learn in this field that is hard to because there are so many unpredictable variables. Like when he thought TBN’s public listing here in the US was going to fetch 250 million and be a major catalyst for FOG. Not even close. Or predictions on this last well…which underwhelmed. I could give many example over the 7-8 years I have been invested in or following FOG.

I don’t think TBN will get 500/acre in a farm down in the next few months. DW paid far less than that and no new information is out to suggest anything different. We have yet to frac a longer well. I agree the market (POQ acknowledged this too) wants to see a longer production well with good results. We need to bring costs down which I believe will come with time.

TBN is fracking one well this year because they have to do it. I doubt they will get want they need from a farm down in the next few months. I suspect they are blowing through money and have to do it for a second raise (or if they have enough money to hold off on the first farm down until they frack a full length well with good results). So I do not expect much catalyst from the first farm down and I would be pleasantly surprised to see 500/acre. We shall see if they can pull off and frack a longer well. I have no doubt they will eventually…so long as they do not run out of money.

I will continue to add more as I see progress. But to drink the cool aide and hate on anyone who raises valid concerns is juvenile and silly. GLTA.

I am not convinced it’s a sweet as POQ asserts. He has yet to buy shares himself with that large pay check he gets.

My concerns continues to be that the stock price does not track valuation at the appraisal stage. It’s not even close. One must ask why that is. The TBN and DW deal was for 150/acre at the appraisal state. So why so low? My concern continues to be that a DSU is not going o get much $$ until a well is proven up on that DSU. Not all DSU are created equal. Big guys know this and are not going to pay a premium unless they know the DSU is worth it.

I dont think this ends in a buyout. I suspect we will end up with stock in another company.

He said they would only consider it if it made sense and not at these low prices. He said if a major investor came along and wanted to deal in American “paper” they would consider it.

Not much new information, but a nice explanation of how the DSU's could benefit us. POQ seemed to be in high spirits and urged investors to buy more shares because we will likely not see prices this low in a few months. I can't recall him ever making that assertion.

Well, as they say, you can always buy FOG for cheaper;) Hoping to get an update on these wells soon.

They have had the same target price for as long as I can remember….and yet here we are. Hope we hear some good news on one these wells in the new few weeks. It would be good to hear they can actually drill a well to length. Though one can wish, I don’t see how this stock could trade at 50x like suggested.

It would be good hear at what price FOG would consider a US listening and reverse split.

B2b. I think you can disagree without making it personal. Maybe it's a language barrier. Bottomline, FOG has not been a good investment. One would have double their money in a 500 fund over the past seven years I have been toying with this mess. And they could take 1/10 of the that money and buy FOG for lower than pre moratorium prices. I understand you think this is great investment and success is just around the corner. I am not convinced. Though I hop you are correct and I am wrong. Cheers mate.

Wet, yes, hindsight is always 20/20. Not sure where the market lost faith in Riddle. Again, not a fan. But share price has not plunged and he has raised $$. There was a botched well but FOG/Santos had the same issues. This is not a field I understand much about but I thought this is how a gas play works. Lots of learning curves and many attempts before an approach is perfected. You def called the botched well though.

BS backed Riddle when they were listed in the US…and still they raised half of what POQ hoped for. POQ said that initial raise would help lift FOG’s stock prices. Crickets. Many times he has pointed to events that would raise FOG’s stocks price and nothing. He seems baffled by this. But I think it’s pretty simple. Why would investors throw money at a business that many zero profit and has big bills to pay if they want in. Since we are not going to be a gas producer our only option is to sell our assets. But we have yet to prove they are worth enough to make it meaningful.

I understand the plan is/was to change our name, do a reverse stock split, and get listed in the US. First, he said we would only do that if the share prices went up…it has not. Second, I have never seen a reserve stock split workout great for shareholders. There is almost always significant depreciation. Third, the theory is here we need US investors. Well, that theory did not work well for TBN who was backed by a US investors when they raised half the money they wanted. TBN has low liquidity too in the US. Not many share are traded each day. There is little interest in the company at this point.

I might be wrong, but I do not think there is an opt back in clause. It’s more like sh$% or get off the pot. FOG can lower its holding in a block to lower its financial commitment. But they cannot later offer money to buy what they gave up. That was not my understanding of how this checker board works if that is what you saying.

FOG cannot sit on their thumbs for as long as they want. These blocks cover a lot of land. They have to play the game or loose rights is my basic understanding. Farming down would seem to work against us for now because if Company A decided to start drilling FOG would have to pay $$ we do not have or watch from the sidelines. Meanwhile we have by my estimate 7-8 years of POQ salary left in the bank.