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RichGreenwood-
In the scheme of things related to the oil energy, this is not a big deal. A couple of $billion in the energy business is PIN MONEY. Do some reading on the industry and you will see deals being quite often at far greater values than we are talking about.
Oilcountry-
The shares are not being manipulated in my estimation. The answer is either the bankruptcy lawyer is feeding shares out per some plan to do so or the company has mismanaged the opportunity to put this "small" block together and trade it. I have offered and the message simply falls on deaf ears. Ask POQ while he lets this latter case happen. I even suggested letting him buy some shares on the print, as a show of good faith, as opposed to taking ~$50k a month for basically sitting on his hands.
Also, was the final tally of votes published somewhere showing the votes cast, for and against, in our last AGM. I would like to know if I was the only one to vote against the entire slate?
ROCKTHEWORLD-
You are not alone in your feelings, as several others have on occasion written on your topic, me included. Clint Eastwood made a movie summarizing my 10 years as a FOG shareholder entitled "The Good, the Bad and the Ugly". As shareholders and also the board, we have endured the remake of that movie under the directions of POQ. The missing link in our story is the lack of candor to disclose to shareholders like me who ask questions on relevant topics and instead of getting straightforward answers, get told "we will no longer take your calls or emails". If one is a lunatic, POQ's lack of response would be appropriate. In my case I will stack my credentials up against his anytime. For him the contest would result in the question, "why are you (POQ) trying to learn from this person, as opposed to impugning a highly respected professional in the investment business. Only POQ can answer that question.
All_
Our problem is not the quality of our prospect; rather, it is the lack of credibility created by our management over the last number of years. There is an easy solution, but you do not want to hear it. Poods
All-
The chatboard silence this morning is deafening, as we watch FOG dribble down. Despite the dismal share performance, I have continued adding and have purchased 400,000 shares of the additional 500,000 shares I said I would add. Will see what today brings, but possibly will add the last shares today to roundup the position to 2.5 million. Beyond that purchase, I suspect if the shares continue to trade lower, possibly below my 10p target, I may initiate a new buy program. Why? Because despite what most of you know are MY reasons for the dreadful downward price of our shares, the FACT remains FOG looks interesting based on what Origin has provided us.
In summary, the deal POQ struck with Origin, I have to take my hat off to him...well done. Since then there has been little to cheer up about for most of 10 years. With regards to my past suggestions and the "none responses", at this point I can only shake my head, choose to add or sell shares and be sympathetic to my fellow shareholders. The entire board I am guessing believes all they are told by our leader and thus, either we are where we are because the board believe POQ is right or there is something none of us have been told, which may account for them (the board) not putting their personal money into more shares in a sign of confidence each of us makes when we buy more shares. Let me end this with the simple reason I continue to yes, harangue. We shareholder have been too complacent. There were things I believe could have been done based on my 50 years of experience. The board and POQ have apparently never considered that "this guy might be right and we should at least answer TRUTHFULLY his questions and discuss his suggestions". Enough and if you do not like these comments / observations, feel free to tell me and will act accordingly, based on your inputs.
All-
POQ should be most embarrassed by today's poor reaction to "his"good news announcement. He did try to get some credibility by asking one the directors to comment, but that seemingly had little to no effect. I genuinely believe if Origin had made an announcement of the start of the horizontal procedure, the price would be doing better. Obviously, the seller is still around and I still have 200,000 shares to buy during this period of misery. Poods
jhealy-
Since the stock did nothing based on that presentation, why waste time re-showing what probably is nothing new to most? Would really be nice to have an Origin rep there to tell us in person about the progress. In the meantime since share price is back to my cost I have been adding, including another 100000 Friday and today. So, 200000 left to complete what I said I was going to do about a month ago. Here's hoping just like all of us, but not holding my breathe.
Thanks for your note. Sorry I cannot find the article showing ~20 million remaining shares held by Sweatpea, which if true would be nice. I gave up calling POQ years ago as he loves his friendly shareholders, but ones with board experience trying to help him do better. He is not perfect, but not a buffoon either. Some on this board probably think the same of me. As they say, beauty is in the eye of the beholder.
UltraPetroleum-
I am unclear from your recent comment which side of the fence you are with regards POQ? My guess is you are as impressed as I am with his performance. I gather there was some sort of meeting at Proactive today and if so, at least the shares did not plunge. If there was a meeting, It would be unlikely anything new would have been revealed right before the AGM. Believe regulators would frown or worse at that and believe our leader knows better. If someone from Origin had been there and simply repeated what we have heard so far, my bet is the shares would have reacted more positively. I simply think the marketplace has been burned enough times by POQ, that credibility hurts his performance and suspect disappoints him.
Beyond that the seller(s) continue to liquidate. I have asked anyone on the chatboard if they know whether the ~20 million shares I mentioned seeing is what Sweetpea had remaining a couple of months ago, but have heard nothing. Maybe POQ does not know either, as I do not know the confidentiality rules in this case. What is do believe is the geology is still worth speculating on and in fact bought another 50000 shares today. Poods
WW-
Needles accepted as got a cortisone shot the day in anticipation of the AGM! I know I am hard on POQ, but some of it is called in my opinion. Yes, the asset may be a good one, let's hope so after nearing 10 years of waiting, while getting the proverbial hot air sent our way. Just hope we don't have to sit forever. And yes, I have added 200000 shares recently and true to my promise except to add another 300000 shares at lower prices, which I expect will happen if we get another uneventful AGM. Appreciate your good humor!
All-
While I think going to the AGM has generally been a waste of time, as the published written summaries of the important materials have been straightforward and well enough done to convey any material information. Tomorrow's meeting hopefully will have something material to present, but who knows what ur leader will be able to say that is important. If we have an uneventful meeting and announcement of same, expect the share price to bump down another perhaps 20%. POQ and board get some more cheap options and we get more of the what we have seen in the past. If we are fortunate to have an Origin official present and providing some solid information, then I would be wrong that going to the meeting is a waste of time. However, the odds of Origin wasting their time for our benefit is limited. I hope I am wrong but suspect if POQ tells shareholders the future is bright, the reaction will be minimal and not sure in which direction! POQ has the best job of his life and we have nothing yet but grief. Here's hoping
All-
I have been trying to find the published filing for the total FOG shares currently held by Sweetpea, which I ran across within the last couple of weeks. I was searching the web for something and stumbled across and did not save or print it out, never expecting one of our chatters to request it. The number of shares still held was 18.2 million, which I will not forget. If you have the link and can share the link to fellow chatters, it would be appreciated. Of course Ann or POQ can probably give you the link, but they do not return my requests. So, still looking. Poods
BorntoBouggie-
Nice to meet you and thank you for one of most informative chats in years. Recently, there was a filing Sweetpea had cut its position to ~ 18 million shares. The 60 million you reference; are these Sweetpea shares or others you are referencing. Finally, if you have a chance to review my thread of comments, which partly agree regarding POQ, but raise a few unanswered questions, would be curious what you might be able to add. Perhaps, we can be in touch at some point to clear up a few loose ends for shareholders.
Oilcountry99-
I agree with most of your comments. The exception relates to the recent selling and here is my reason. I noticed a Sweetpea filing not long ago indicating their position was down to ~18 million shares. Did you see that? If I am correct, the last filing we saw was ~50 million shares? If I am right, 18 million shares is nothing if someone puts the trade together. Have someone contact me if such an event is in the making. I’ll buy the shares POG should buy!