Member Info for Poods

All-

If Origin had been the initial source of our recent news release, perhaps FOG would not essentially fallen on its face. If Origin had announced the news, the market response may have been more positive and thus absorbed more of the sellers shares. Speaking of that, so far just for anyone curious, not one response of additional interest from this board. Totally okay, but thought some might like to know. Still working on the project, as buying the entire block personally is doable but at my age not so smart. POODS

I want to commend POQ for making a straightforward announcement which simply states the facts. Well done Philip. POODS

dprussky etal-

I have waited awhile to reply to comments following my recent note after speaking with the trustee. My first response with some personal comfort is the idea POQ / FOG might be interested in purchasing those FOG shares. It is hard to imagine POQ presenting this to the board, because he would be shooting himself in the foot, as the funding of such a purchase, would greatly reduce the number of years he can continue enjoying his more or less "free ride". Origin might be an idea, but do not know if that is even contractually possible. Secondly, at some point there apparently was a bid made for all or most of the remaining shares, but nothing came of it.

The shares, as we all know have dropped over the last years to near record lows compared to all-time highs of many years ago. FOG has been victim of falling energy prices, a bankrupt large shareholder having to sell. POQ's roadshows are not the fundamental reason the shares trade where they do. These PR trips gave him something to do, running the share price up in soon cases, and then at the meetings with little to excite continued buying, caused the sellers to sell into a weakening market. That said, POQ continues to collect a generous compensation package, which he apparently has not offered or been asked to reduce.

The common shareholders are as in all companies "holding the bag", good or bad, as the case may be. The positive in the FOG situation is some apparent decent reserves. Now, we can only wait for COVID to get behind us and drilling to resume. As to the remaining block of shares, I believe a bid near the current price would succeed. The question is whether there is any additional interest. So, I am trying to figure out if I want to do anything, or if someone reading this update comes up with a reason to do something. Time will tell. POODS

I spoke with the trustee today who was polite and informative. There are ~47 million shares remaining to be sold. Buyers have as we know been scarce. I suspect my last million share purchase was the most the trustee has been able to sell in quite some time. I have not decided what if anything to do at this point. If you have any serious interest or suggestions let me know while I do some more work. POODS

Anybody have the Trustee's phone number? If so, I will call and see what can be done POODS

ALL-
What is the basis for the comment shares are to be given to the attorneys as compensation? It is my understanding from the occasional filings the bankruptcy court has been liquidating FOG shares. The last statement on this subject seems about a year ago and the status at that point was they were down to about 5% of total FOG shares still to be sold. We have certainly seen a steady supply of shares in the market and assume most of those are these shares controlled by the court referee? Does anyone have an update on the number of remaining shares? POODS

An PR similar to this may get things going...Falcon Oil and Gas is very pleased to announce.....

How about : POQ has resigned.............

Just a thought, as he probably is professional golf level these days!! POODS

Schlemiel
I am going to disagree with you with regards POQ speaking out at this time. 10 years of his occasional pronouncements have increased cynicism to record levels, as evidenced by recent non-movement in share. He has unfortunately become an expense the board is unwilling to either renegotiate or let him go. Origin can operate and make announcements and Ann can file quarterly any necessary documents. If we are so lucky to actually found significant producible reserves, then the board (hopefully with some new members) can either interview for a new CEO or engage an investment banker to see if a satisfactory bid is out there for the company. Origin will as appropriate announce drilling results. Ann / our PR firm, if we have one, can parrot the information to FOG shareholders. Hopefully, before year end we will have some real facts to help move things forward. POODS

Origin-

Still here and think you may be correct I have said nothing since mentioning I added another million shares at I think a lower price some time ago. Not sure without looking, but if things are a success, a penny or two in cost will mean little and if the holes are dry, I will have lost my investment and wasted 10 years as many of your have. Re POQ and Anne, I would suggest POQ cut his salary enough to cover Anne's or put her on some sort of furlough with benefits until such time as her skills are required. I can assure they both must be bored to tears. POQ can only play so much tennis and do not know what Anne does to pass her time, but accounting efforts required are minimal. The joke is on us and POQ and Anne, must smile with every paycheck. This note lets you know I am present and accounted for and enjoy most of the notes from my fellow shareholders and still think the board and POQ have failed on several fronts, but that is not going to change, so let it lie. POODS

dprussy-

sorry to see you give up the disaster at this point. you have done nothing wrong. the board has made some good decisions and a few bad ones. t
he latter are the source of your angst. POODS

schlemiel-
You are correct from where I sit, i.e. the US. In the US, over many years I have on occasion been instrumental in forcing much needed changes in managements. The results of these efforts were successful to say the least and in part how I was able to retire at 50 years of age. Now 74 and have enjoyed a wonderful life with a small number of flies in the ointment, so to speak. FOG is one of those and as I have said before, if the geology did not look so good to me, I would not be a shareholder. I currently owe 3 million shares with an average of $0.10. These shares have been accumulated over 10 years during those weak periods we have endured. Hopefully, this will be a good investment in the end, but in either case it will mean very little to me. I am simply persistent to a fault at times. POODS

schlemiel-
Appreciate your note and like you hope things really do move, but my main point which I stated earlier is largely unrelated to resuming of operations; rather, the abuse shareholders have absorbed while POQ has been at the helm. POODS

dprussky-
Personally think his options are the answer to your point. He is overpaid at $650k or thereabouts

POODS

schlemiel-
As we both know the FOG journey has been a long one with few enjoyable days. To his credit POQ has accomplished, most probably with board help, several good things as to structuring the Beetaloo joint venture, which hopefully will not be diluted further. POQ has heavily promoted what appears to be a wonderful resource. What he failed to do was take advantage of the opportunity to replenish our coffers / bank account with cash when it would have been easy to do in the $0.30 range. The result would have been 2/3's less dilution from the financing. The recent dilution from the additional Origin agreement frankly was amazingly good and should serve to confirm the potential appears very good to those with all the information. The only question I have at this point is why the board has not substantially cut POQ's to a more appropriate level and let the option be the payoff, if there is to be one? If he quit and it did not cost us much, shareholders would be better off as the board can handle the few negotiations that may arise with good drilling results. We are in the backseat while Origin leads this effort. Let's just hope there are no more bumps in the road. POODS

All-
I understand the frustration setting from recent chat. The waiting (I am approaching 11 years, like some of you) is a drag. My goal after the discovery was $1 per share. That has gotten knocked down for reasons not worth recounting. My guess is the final value would be in the range $0.25-0.50 per share if the drilling proves out what has been discussed ad nauseum.

I have continued to use periods of boredom to build my position which currently has an average cost of about $0.11 per share. If we get a price in the range of my estimate within the next couple of years, return will be in the range of 10-20% compounded. While not what one hopes for in such a speculative company, the investment would be good, if things play out. Here's guessing just like you, but at least based the few factors we have. Guesses in the multiples of a dollar seem a far reach, but anything is possible.

bigones-
You are incorrect in your assessment of where POQ stands in my book. He arrived a bit before I was introduced to FOG. At that time I understood the company had been poorly managed and needed a prudent manager to see the company through difficult times ahead. Unfortunately in my opinion, what we got was a mixed bag. Most expenses were trimmed to appropriate levels, but for whatever reason the board approved an overly generous compensation package, which we are still subjected to. Additionally, we hired a nice lady who is paid well to do work POQ could have done to keep from being bored. Then because of factors generally beyond POQ's control, he has enjoyed the sweetest deal one can imagine for such a miniscule company. So, in summary he has negotiated well with what he had to work with, but if he had listened to better advise and done a financing at a more opportune time.i.e. where the price was over $0.30 we could have avoided a lot of what are useless, water under the bridge comments from me. The board failed to represent the shareholders' interests in my opinion. POODS

newtofo-

Keep dreaming.

Poods

Origin789-

ALL-
Despite the issues we have endured, the geology is what has kept me interested in Beetaloo; the rest is worthless to me. Unfortunately, a lot of time has been peed away and energy pricing is poor. That said, I have finally added my last 500k shares and am complete at 3mm shares. So, hoping with this last round of funding commitment, our immediate future, which is tied to Origin and not FOG management / board, will bring us some good news.

Maybe the weather is nice enough for POQ to get golf or tennis in? Wonder if FOG is paying for that?

POODS

WetWater-

Excellent. Yes, there have been missteps, but your comment absolutely hits the nail on the head. Well done. POODS