Member Info for Poods

2019 is here, POQ is quiet as he should be, the selling continues as it apparently needs to and we all are waiting for Origin to put the bit in the ground. Until that time there is little else to comment on. A surprise bid for FOG that has been hinted at is always possible, but seems unlikely. There simply is not enough known to make a bid fully reflective of more than the little we have seen and heard. As far as the "fear / noise" on the board regarding a takeout, my opinion is it is at best wishful thinking. IF in the most unlikely case a low bid (whatever that means) were to come forth and was not from Viktor's associates, then Viktor etal saying it is not worth considering would pretty much stop a low bid in its tracks. The only reasons to mention this is many shareholders, including myself probably would support his position, as his is the most informed outside of Origin. If I am not mistaken, in such an event Origin would be left to either walkaway, perhaps with a small settlement, or be compelled to make its own bid, likely with a stronger partner. My points are: the stock seems to want to continue downward until the selling is complete or an announcement of substance made that will absorb whatever remaining selling there is. So, I am still waiting for the 10-12 P area to see what develops. Painfully aging like all of you.

Thank you FOG / POQ for another wonderful year: down, down, down. Maybe next year for the umpteenth time

Sandydune etal-

Thank you all for using the chatroom to share your range of views. Unless there is something written I should respond to, my fingers are going to rest mode, which will be satisfying to most of you. I have stated what I feel as to our board's deliberations. Enjoy our price swoon until that bit hits the ground.

WetWater-

What you say is generally correct and inline with what the information so far would suggest, regarding the discovery to date. I do take issue with this quote, which I will a comment on again... your comment: "Regardless of all you say about POQ he is a pretty good accountant and he indicates they have sufficient funds to carry themselves through this project."

I suspect POQ is a good "bean counter" and have not suggested he is not. My point has been, the blown opportunity to raise perhaps $25-50 million to provide a cushion should we experience the unexpected. The board had a chance to do this and missed that sweet spot "in my opinion". Others may disagree, but a the chatroom format lets folks debate, comment and share with their fellow shareholders and as I suspect let some on the FOG board read and digest outside input. You know my share position and if the price drops much further, I will consider adding, as I been mentioned several times. Geology, I understand well enough to feel this is one of the better "crapshoots" I have seen. Good luck to us all, hope POQ talk with each of you, but in the end he is on a paid vacation that may end well or not. Time will write the end of this saga!

Correction:

should NOT be an issue in my response below to Origin789

WetWater-

My comment re CASH is related to an unexpected delay for whatever reason. Beyond that, frankly the missed opportunity to bolster the balance sheet has long past and the result is our negotiating position is possibly weaker. If the drilling results are stupendous, low cash holdings should be the issue.

Camelot,

This morning's chatroom seems pleasant and informative, although repetitive in some places, of which my comments sometimes are to emphasize a point. While the reality is the $$ value guesses are just that, we should be optimistic that someone may in fact do well in the Beetaloo. Time will tell us the value and not POQ, he has tried to tell the world the story, but the reality is his efforts are not really helping as the stock is telling you, at least in part. If the drilling reports we have received were not as good, our shares would probably be trading in the low single digits, as a few would still be speculating as we have in many cases for years on end.

bigones etal,

The shares continue to drift as predicted because "the noise" equals nothing but "noise". In hindsight, if as required by securities law, FOG simply issued updated unaudited financials on a quarterly basis (audited annually) and some statement like "we are still on track to spud / begin drilling on such and such date" the results probably would have been as we are seeing. All the money spent flying around the world has been a total waste. If POQ felt pressured to speak, he could have done a video conference quarterly, if announced with each quarterly press release to answer questions, but the share price in my opinion, would be where we are today. "BS" walks and $$, i.e. production revenues talk; so, we have to wait.

ITguy-

Thank you for your question regarding price level following a split. As to the level, my current thought would be 50:1 or a price ~75-80 or about $8 US. This is high enough possibly to receive approval at some larger US brokerage firms and perhaps others overseas that currently may be restricted from trading. I do not know the rules generally except in the US. To repeat myself, this IS a very important FIRST step in an effort to at increase the pool of potential FOG investors. Further, as the share price has been under pressure literally for years due the constant selling, the likelihood of much downside "pari-passu" has been greatly reduced. Continued selling pressure will continue until, the seller(s) are done or we receive some a bad drilling report. The flip side is the selling pressure stops, because the seller(s) have completed their selling or the drilling bit yields some good news, in which case the market should absorb whatever is left fairly quickly.

For what it is worth and despite a few management fumbles, the fact remains our prospects have appeared good now for years! Unfortunately, due to factors discussed previously, it appears FOG resources, despite management pronouncements FOG is well-funded, is anything but so. At this point since the board blundered its opportunity to refresh the balance sheet and hopefully had done the RS as part of that effort, we sit and await our fate. Either, we run out of cash, or (like when I was a kid) "Mighty Mouse", in this case the DRILL BIT, save the day. The clock is ticking!

bigones,

Nice to hear of another RSer in the ready! Unfortunately, POQ etal must have spent the money we needed to get it done. So, here we sit.

WetWater-

Perhaps, the new firms are bidding to show POQ etal they are interested. However, the amount of shares traded, while a bit more than usual, is still a pittance in dollar terms; therefore, my sense of humor a bit ago. The bid is only good until it is not: brilliant, but the truth. If we break this level, which as I remember we visited not too long ago, we will probably see disappointment expressed by some with increased selling pressure. The price will be under pressure until, as I have said ad nauseam, Origin sticks the bit in the ground for us. Still think the dream cute!!

WetWater

This is really for all fellow FOG followers. While continuing to see if FOG gets down to my target, the last 2 days trading have brought a bit of an smile to my face. Given the apparent strength of the bid the last 2 days, my mind started to speculate POQ and the board were finally spending some of their OWN money to support the stock! That's called a dream...... Happy Holidays!!!!!!!!!

WetWater

WetWater,

Since POQ does not appreciate good suggestions from an experienced investment person, perhaps few of you might ask to be more specific as to a plan which should have already been done several years ago, to insure if the drill bit proves successful, that we do not end up negotiating from a weak financial position.

bigones-

Finally, someone understands it would be beneficial to effect a reverse split. Unfortunately, I am not totally certain we could file and effect such due to our cash asset being "de minimis". Again, Philip / the board in my opinion, have argued such a reverse split is unnecessary, but what they fail to realized / acknowledge is that simply does not have enough cash and / or tangible assets to qualify for a reverse split.

As to your statement of selling if a split occurred, it would seem foolish to do so, if all geological conditions remained as they are presently,. The shares have dropped over 50% as delays have eaten up lots of our precious little cash, as the company has failed to anticipate the need to go to market when it could, to put much needed cash in the bank. I understand, as well as anyone, FOG should be able, assuming no more long delays, to squeeze through the remaining waiting period before the bit hits the dirt. However, the company's ability to negotiate will be greatly reduced as their back will be to the wall, so to speak; not a desirable position, if one wants to negotiate from strength. Instead of being on the offensive and building our staying power, the board with their "free ride via options" has simply played this situation poorly from my perspective.

Reserve split comment-

At this point such a split would most probably be quite positive, as it meant FOG had the funds to effect such a split. Further, while many do not appreciate my observation of many years, a RS can greatly increase the number of potential purchasers, plus the fact in time, margin might come about. At this point we are on relative thin financial footing as the board missed any chance to address the weak balance sheet several years ago. Time's a ticking....

All-

Nice to read someone (WetWater) has an "inkling" of the source of the persistent selling we have witnessed for seemingly several years. One would have to be blind or ignorant to realize the selling was there and still is. If there is a logical explanation, it would be nice once it is appropriate to understand the source of this lid on the price.

Nonetheless that said, if the news had been better and we have continued to drill what seemed prospective, those shares would have been taken more easily by the market, especially if we were not a penny stock. But given we are in the eyes of the regulators barely a going concern, one can understand why FOG apparently is unable to proceed to make the shares attractive to more investors. My feeling is POQ has known for a long time we could not reverse split, but sat on the information for fear the shares would go down. But, they have continued to go down anyway. Why the company has not been more straightforward clearly this issue, I do not know and never was able to get an intelligent response. So, like all shareholders and not the free riding option holders, we can only sit on our hands, but let management know we would always appreciate "full disclosure".

FOG-gers,

My question to the board this morning is, given the comments to the contrary, Sweetpea and related appear not to be the seller; so, what is the source of this constant selling? Some of you perhaps speak with FOG brokers mentioned in our press releases. It is hard to imagine with the amount of board chat, someone has not spoken with a contact who might shed some light on the "never-ending shares for sale"? When yours truly has called overseas to speak with one or more of the brokers FOG recommends we contact, in my case, they "cannot comment due to the fact my residence is in the U.S". Has anyone on this chat board spoken with someone they feel can actually comment on the continual selling. This selling is not day traders in my opinion, but legitimate large seller(s), which has been executed superbly from my standpoint.

Oops,

Think you probably answered your own question as to why the difficulty in trading. For what it is worth, such has not been a problem at Schwab.

Fidelity question