Member Info for Poods

As I read comments this from some fellow FOG shareholders, I feel a bit like a psychologist, who said a key word and each of had that cathartic moment and posted here.

Another large FOG shareholder who's a close friend has written “POQ”, our unhappiness anagram, a letter on the poor treatment of FOG shareholders at the of the GIFT to institutions and friends who received free gold, i.e. warrants and TBN shares at a severe discount. Hang in there and let's see what comes of this quagmire. POODS

Thank you your comments.

I’ve not kept up as perhaps I should. But, in reading some of your comments and having not seen the TBN prospectus, I am curious if Falcon holders were ever to get warrants? That would have surprised me with one exception. POQ has in the past repeatedly told me we didn't need the possible $50-100mm, we might have had a chance to raise when years ago our shares traded above $0.25.

In hindsight we as shareholders have in steps seen ourselves diluted with farm outs etc. By in the end, don't worry about POQ, as his generous plus options will and have come out of our hide.

Very well stated. Clear as pure water. Patience is virtue POODS

Still have all my shares which will benefit my heirs. Last night’s dinner was was am 80th birthday party. Think we will get the payoff we’ve all been waiting for, as Sheffield knows what we have and how to create finally make good on our investment. Farewell

Has anyone one heard from from him lately.

Foods.

Still have all my shares and March 8th will 80. Teaching my grandkids and their parents how patience can pay off. Takes discipline, including Buying what you can afford. Signing off

Fellow shareholders,

I’m still alive and like most of you, have learned an important lesson, which served me well in my 50 plus years in investing. My father was a pretty good investor. He said despite the flowery public relations press releases, it’s important, especially in smaller companies, to know the management, including its board of directors.

In the old days getting to annual meetings was expensive both in time lost and cost. Today, such is not always the case. I would caveat that by adding, I wish video calls required the board of directors to be on camera during Q & A. If we had had that available in the case of FOG, I suspect some clues would have shown up to at least raise a question or two whether some of the board really were representing shareholders and not just holding for hoped for success from options. I don't know what they were paid was ever disclosed. Perhaps, that would have told us something in itself. The salaries that were disclosed required me to have cough drops available.

I’m not going to repeat other questions raised in the past but will say because of the quality of the seismic, I increased my position substantially at attraction prices. However, I find fault the board did not anticipate the opportunity to sell shares above the current price some 8-10 years ago to insure we were not forced to sellout at just the wrong time, in my opinion. Keep the faith this deal closes and we enjoy whatever Tamboran digs up for shareholders POODS

Chilli,

The prospects look quite positive. Once more drilling is completed, the operations people will learn the nuances, so that can those on the drilling platform will better informed as to what to do a sound, smell, or control gauge doesn’t look right. Bottom line, we to have good prospects, but any return on our investment has been reduced due delays due to environmentalists, who do have rights, poor operators, and mismanagement in the lack of oversight I discussed with our elderly board. I don’t know if our board members attended AGMs? If the had and were incapacitated in any meaningful way, the shareholders have been penalized, while management simply issued themselves more options. But it allowed some to average down as I have for all these years. POODS

Chilli,

Understand you wanted my opinion on things. I will summarize things as follows: A number of years ago we were shown a wonderful well log, which at the time I commented was the only thing that meant to me as regards the company. It was refreshing news given all unfortunate events FOG suffered from a myriad of unfortunate events we all remember. Many were simply out of our hands and time was the price we had to bear.

Based on the favorable share price response to the well log, FOG shot and I suggested to POQ we raise $25mm or more with our shares above $0.25 US. Whether it could have been done I honestly don’t know. What I’ve learned in subsequent conversations with POG, “on his own” told me recently he never presented the idea to our board of directors. Reason was FOG was being carried via the Origin agreement and POQ personally felt there was no need to raise funds.

It turned that our board never heard my suggestion. My 40 or so years in the investment business meant nothing to him. Further, it turns out the Board of Directors didn’t serve it’s shareholders because unfortunately several of our board were incapacitated due to age related decline or in one case a serious injury in a car accident. Most of my knowledge was gathered little by little by other shareholders contacting me with little news items. Our board simply seemed unable or unwilling willing to challenge POQ. I also suggested several times cutting POQ’s salary in half because he was receiving way too high compensation in my opinion.

We had what appeared a good asset, but were victims of external events which handcuffed our ability to drill, which allowed POG to sharpen his golf game, attend Wimbledon matches, and vacation. I can’t prove if these personal pleasures were funded with shareholder funds, as he should have, out of his very generous salary. I did try to determine such but never could prove it and the board audit committee never looked into such matters.

To top it off and in my opinion with our back to the wall, POQ has apparently cut himself a fat deal after the company merges with Tamboran. Why the Sheffields need another accountant to advise them is not clear to me and one PIQ is apparently not talking about. I’ll be the first admit some of my information is secondhand. The tragedy here is our board failed us, in all probability unintentionally.

POODS

I feel a little sorry for POQ, but not totally surprised. Yes, we need an event, but that will not happen unless an interested party has enough data to sink their teeth into. Those who have estimated a year or more to complete enough wells to valuate

Well 12 years ago, I bought my first shares of FOG…the perfect acronym. The purchase was after my son heard a company presentation in I believe NYC. My hope was to pay for college of my grandchildren.

They’ve more or less graduated after college costs tripled in the interim and FOG remains unchanged.

The kids got educated, we through misfortune nothing so far, but some dilution and our predictable deaths closing in on all of us.

Happy Father’s Day to my long suffering FOGGERS.

POODS

Those who know me, know I don't make things up. As to 100+ times my money twice, it’s true and others who participated with me know it is true. POODS

I wonder if your lack of patience is an indication of ignorance. My 2 best investments where I made ~100 X my investment took 10 and 13 years, respectively. Patience is still a virtue. POODS

Can’t disagree that POQ is overpaid. He told me he now holds options on 28 million shares at very low exercise price. If those become worth 50 cents or more, he will have been amply paid. How he justifies his pay which is at least triple what it should be , has never been explained.

He inherited a good geological portfolio which after 10 plus years is finally proving up. Some of the delay is not his fault, as we all know. But the shareholders have abused by the board, not POQ. POODS

Drilling frontier areas often are tricky as I’m sure Sheffield can attest to. However, the operator errors in our case(s), as opposed to a seismic anomaly / misinterpretation, we cannot blame POQ for.

Our reward awaits us. This experience is like waiting for rain in the desert. It’s hard to watch this level of errors. POQ / the board must be congratulated for their intuition to reduce FOG’s participation. I wonder if Dr Gabor actually made the recommendation to stepback?

We would be facing serious dilution if we had not agreed to reduce our exposure. It would be interesting to know whether it was POQ or the other board members who actually made a positive difference in a bad situation. POODS

This is POODS checking in with my long suffering friends regarding the POQ wreck. Unfortunately, after the last call I realized Philip is now just a well-paid figurehead. The game seems to be TBN with BS at the helm has created a number of exasperated sellers, taking their losses and moving on and or possibly buying back in via Tamboran or Empire?

The geology has not changed, in fact is being “proved up”, as they say in oil and gas terminology.

There are a number of us “diehards” hanging in there. To those few of you, I occasionally still add to my position for the same reason I’ve said for too long. Hang in there, as that still seems correct and all we can do.

Let’s simply follow BS lead , as he’s put his money where his mouth is. POODS

Tda4falcon

The best summary EVER on Falcon !! POODS

FYI, I’ve been bidding between US$0.0650-0.0675 for 250-500k and not bought a share in the last week. Someone seems to be luckier with their bids than I as didn’t get a single on the million share plus day recently. POODS

We appear to be sitting on the Mother Lode and you don’t see the forest for the trees. POODS

Where have you been? Left word for you to call and catch up. POODS

I was in Durango about the same time and doing better, thank you. People ask me why POQ / FOG doesn’t promote itself. I said because poor POQ has learned the hard way No one believes him and better yet don’t understand geology. That’s the opportunity.

He’s still overpaid for such an underfunded company, which is largely his fault as they missed a good opportunity to raise perhaps $25mm when the shares were $0.25-30. Take care. POODS