Member Info for Poods

Periwinkle,

Hopefully, your comment is positive regarding Knight, but if not, so be it. In any event as to the second part of your comment, my memory is another long suffering FOG shareholder is owner of those options.

All-

I remember the royalty farce, unfortunately because it shows again how long we have owned FOG. At the time it made no sense except POG could publish the agreement and pretend this was an indication of the potential value of Beetaloo. In the end the $151,000 purchase is probably not a bad move, given what seems to be the potential. Big the significance is FOG has a "material fact", which legally probably had to be disclosed and gives the long suffering stock a day or two of hope. Stay focused on the annual meeting and hopefully some hard questions will be asked before all head out for the proverbial beer.

Candles are a good trading tool, but suspect you will be out of your trade short-term which is fine. However, for those of us in FOG long term, this is a blip and until some tangible news is forthcoming the longer term trend is still down.

The link below is our 10-year report card. A picture is worth a 1000 words

https://www.nasdaq.com/symbol/folgf/stock-chart?intraday=off&timeframe=10y&charttype=line&splits=off&earnings=off&movingaverage=None&lowerstudy=volume&comparison=on&index=sp500&drilldown=off&sDefault=true

All-

Good comments this morning from other long suffering FOG shareholders. My prior comments have been quite negative for the reasons stated previously. In defense and despite my criticisms of POQ and the board, much of the turn of events is out of their control. However, in my opinion the board has played a game of chance that is looking weak to say the least. Last week in a conversation with the Canadian regulatory folks, the regulations I was seeking seemed to not exist or more probably the person did not know where to find them. However, my suspicion is the board has not pursued the reverse split (RS) and disclosed to shareholders the fact the company's balance sheet with next to no cash holdings, simply does not qualify for the RS; therefore, silence rather than disclosing the real reason not to pursue such. If the board continues to abuse the shareholders, there is little or nothing to do at this point, except hope their golf has improved in some cases at our expense.

So, if history be our guide, the AGM probably will generate some short-term hype - spike and then the long suffering price decline will ensue. We all keep thinking maybe there is a surprise coming; we may right, but is it good or bad news? Time is running out, so at least the wait is limited.

This is quite funny and is Version 2 of my general comments. Unfortunately, when one is not the operator of a property, they are at a distinct disadvantage. It is simply one of the facts of life in the energy business and for that matter, many situations. And again, I hope some of you are going to the AGM and raise the GREED related issue.

All-

As my notes have indicated there appears little value in the SA, if one cannot drill. However, this link might be a ray of sunshine, but take everything there with a grain of salt. But if, it is real, POQ with buy a new PR trumpet that reaches his audience.

Hopefully, a number of you will be attending the AGM for more than a pint! The share price continues to decline as we all know and the 30-day quiet period pre the meeting, plays perfectly in the board's hand and the granting of options. If no one questions regarding this act of corporate GREED thrust upon the real shareholders of FOG, then shame on "our collective selves" for not raising this issue face-to-face. This is one of the most egregious use of options in my memory.

All-
Yesterday must have been a holiday, as the board was quiet. This mornings' series of reflections had a sober tone, which is frankly the mood we should all be in at this point. Such is the case where one's investment is in one opportunity that at this point has ~6 months per year for something to happen, at least as relates to the drill bit. Yes, there could be some corporate activity behind the scenes which we do not or should not know about until there is something to report; this being the result of legally imposed quiet periods. These periods serve a purpose; negotiations should not be done / assisted by forums, which like POQ reading this forum, do have even at the subconscious level, some amount of input.

As to my wishing the price down that would be plausible if I were short, but my holdings have been stated, not for any other reason than to confirm in fact I do own a fair number of shares, bought and paid for just like some of you. In 10 years my trades have been all buys with but a few exceptions, where it was obvious the stock was spiking for the wrong reason. Those few sales were repurchased when the FOG settled down. For those of you who might think my position is made up, you do know anything about this lifelong Boy Scout.

The tone of all but one comment this morning is reflective and good for all to understand the risks of this journey. In a few weeks, we will hear whether the dream is still alive or not. Some stories have wonderful endings and others, not so good, with the appropriate lesson learned. In the boat with all.

WW,

Humor is always appreciated, especially at funerals and in this case FOG, and today your comment is the undeniable winner. Levity is one of the foundations of life; cheers to you. As to the critical point of the contract, they can be written to suit the parties involved. Having not read the contract, all I can say is "yes and no" to your comment. For what it is worth, if your knowledge of or reading between the lines is the basis of your comment that is fair. However, there probably is much more to be known and as such either POQ has deemed it irrelevant or Origin is sitting on it. One never knows what is happening in the weeds on matters like this, except of course the parties to. We are near knowing what Origin wants us to have POQ relate and then we may know more or less. My note is a bit legalistic sounding (I am not an attorney), but the facts are fuzzy to a certain extent, except for the seismic we have been shown.

Newtofo etal'

Frustration is certainly something we all can agree on as regards FOG. However, POQ does understand the regulations he operates under and only pontificates when he can. In these moments of frustration, please take the time to read the proxy statement and be sure to vote as you feel. Give some thought to the proxy question on this year's ballot and appreciate that your vote is a statement to the board, a report card of sorts. Agreed, the selling is no fun, but POQ's hands are tied because POQ is not the operator. Frankly Origin, probably enjoys being able to be tight-lipped for the moment. In a few weeks, POQ will or will not have his moment to shine or not. Whether it makes a difference is not based on what he thinks; rather, what Origin discloses.

We are on the same page, but let's see if the board ignores what we know they are reading and "staying the course" of only thinking of themselves. Thank you

Why would I want to see the shares down given the size of my holdings. Granted it is not a particularly large one for me, but all my positions are important. My comments are gloomy as to the manner the company is managed, but not the quality of the one remaining asset we have. If you would like me to not spoke both from experience and the heart let me now and if others agree there is no need to continue, as even though I am retired, my schedule with fun to do is full.

WW,

Your response seems indicate your knowledge of the oil and gas industry is better than most presented on this board. Remember my comment was Origin COULD not IS going to put the "tight hole" restriction is place. For all our sake my hope is the do not need to, but at times it is necessary to "zipper the lips" around a drill site. If you have the experience do, you will appreciate this comment. Lastly, would disagree on our not needing additional cash reserves due to the fact "S___ happens" and we could be without cash operating funds to pull through to the end. Appreciate your input and pleased you understand of what my comments mean.

Camelot,

My prediction awhile ago of FOG approaching 10p is a combination of intuition and past experience. At this point, FOG is a one-trick pony and not because of anything POQ has done; rather, the result of the drilling bit eliminating Hungary and SA through the problem of a good part of the continent, political corruption. If there is not a substantive announcement at the AGM, i.e. an actual starting date for drilling in the near term or a longshot capital event to bolster the company's fortunes, my prior suggestion of the 10p level being a target, could happen quickly, as "hope" turns to "disgust". Also, Origin has the right to call for "tight hole" status, which does not allow news to be reported, sometimes for extended periods, as they opt to maximize our opportunity based on incremental drilling results. FOG can ill-afford to in effect "go quiet" with shareholders due to this condition. The implication of "tight hole" status, infers good things, but does not generally allow useful information to be shared with its shareholders. Call it a "death knell" of sorts. Our current cash position is perilous by any reasonable standards. The board either has something good or not good to say at the next AGM. Let's hope sensible decisions and / or positive news are forthcoming. Good news will certainly allow the seller(s) to unload more shares, but bad news probably will drive them to really push shares into the market; and a heartbreaking drop possible. While our leaders can assure us financial results are accurate, it does not mean much at this point. Let's hope the proverbial rabbit "jumps out of the hat" at the upcoming AGM and POQ can rub it in our faces.

How many shareholders usually attend the AGM on average? Are people able to ask challenging questions, or they are either cutoff out of hand, as irrelevant or some other lame reason? Unfortunately, this is the year as we new insolvency to challenge our board. They have played a dangerous hand and one slip / delay in the timing for whatever reason and the prospects of an auction in bankruptcy could be realized sooner than you realize. Comments

You are welcome

P.S. this proxy information was emailed to me this morning and hopefully all shareholders. As in the part there is not much there and as usual the request for your approval of the option plan is requested. In an effort to make a statement to POQ and the board, my proxy will contain a NO vote to options. It is not reasonable to expect to win on this item, but my 2 million share vote is at least something me or anyone can do to say "enough is enough".

Marshmill, thank you for your good question as to how Viktor etal could end with our "interest". The reason the word "interest" is used versus shares is, if in fact FOG goes into bankruptcy for any reason, the judge in this matter has broad powers. His mandate is to protect creditors, if any, shareholders next and NOT option holders per se, as they are not shareholders. So, at the judge or the equivalent titled person, would seek to maximize the value of the corpus, i.e. the whole of the remaining FOG assets at that point minus any debt. An option such person would evaluate is whether there is greater value if FOG were sold "in toto (effectively as one)" or piecemeal, as he might determine. Several chatters feel at this point SA etal are worthless and may have issues attached a new owner of Beetaloo would prefer not to deal with and that would include most of us? So, if we get to that point, POQ and the board will if need be, be asked for clarification and a specific item, but be told nothing, if the administrator / judge follows the rule of law. At this stage to answer your question regarding Viktor etal, he is a stranded shareholder like all of us would be. At some point a notice will be issued by the court, notifying all interested parties of the "state of the matter". Whether option holders receive such information is unclear to me, as foreign statues are not something clear to me. Therefore and in conclusion (a phrase from the movie "Blazing Saddles", which if you have seen it, reminds me of some of the farcical happenings as we shareholders take this wild ride). So, in rides Viktor or anyone else with an interest and the resources, including Origin, who knows as much as anyone. At this point the asset(s) will be auctioned off to the highest bidder. You and I will get ZERO and the board plus Ann and POQ will need to seek new employment.

Sandydune-

Very nice comment and could not agree more, except it is in the past and probably due to mainly bad luck, the shareholders are in danger of, in some cases, wasting 10 years and losing of their invested time and money. Yet, given the unfortunate turn of events, POQ enjoys a very nice deal and he and the reward continue to extent themselves egregious amounts of options to pat themselves on the back. They should stop options or at the least greatly reduce them. Criticizing management is something one should do when one knows what they are talking about. In the past several managements of companies I was invested in suffered because of abuse of the powers given them by shareholders, who were forgotten in board meetings, as the board rushed through required agenda items and then proceeded to be sure to not "forget themselves". Sound familiar. We as shareholders and board and managers of our sinking ship, need to quickly amend their actions to align with reality and frankly what is the moral thing, given the turn of events. Thanks again for you comments

Bravo schlemiel!

Short and sweet "POQ is a passenger". You have put a lot of the issues in the proverbial nutshell. POQ costs us ~$500,000 per year and in my opinion is more than adequately compensated with his perpetual options. It will be interesting to see if at this year's annual meeting, the board tells us, by again granting themselves large option grants, they are doing a fine job. Give me a break. Summary: we as shareholders are along for the ride until we run out of fuel (cash) or the drill bit saves the day and issues in good news for the long suffering shareholders and the company being able to replenish the "fuel" and decides, in the shareholder's interest to move to larger quarters with better view!