Member Info for Poods

Camelot

Glad you noticed the trajectory heading to my target and appreciate what little recognition my comments have endeared from fellow shareholders. Also, notice POQ has not had anything to counter the argument I have been writing about. Yes, the drilling will recommence at some point, but some of the pain FOG holders are currently experiencing is due to a total lack of understanding of the benefit of not being a penny stock in times like this. This is where our board is letting everyone down including themselves. Still waiting to add at some point. Enjoy

All-

There must be a different attitude outside the U.S. toward penny stocks and must admit it is something new to me. In the end, if this proves up as good geology, we will all be rewarded. You have made it clear to me, many of your opinions are strongly felt and that is great to the extent they are based on knowledge. In the future, consider they just might be another side to the argument. Best.

Camelot1

The answer is two-fold: the prospect is not proven up enough to make a bid feasible AND YES IT IS A PENNY STOCK. Extremely rare an institution would buy even consider FOG until the price was closer to $10. Frankly, if a broker suggestion such an idea to this type investor (unless a were joking), it might be his last call on that account.,

THINK AHEAD ALL; assuming the drill bit proves up what the seismic and DST indicate, and a possible share price of say a $1, no institutional types of the type you ask about will consider FOG. PLEASE think about this: it is human nature to like LOTS of shares: I get that. BUT, the value of your holding is the bottomline and history should again show each of you that over time the real value of the company will be set either with institutional activity or a takeout, which most probably would not and should not happen until extensive drilling is completed so we all receive a full valuation. It is that simply and how my fellow shareholders continue to reject years of experience is beyond me. So, my 2 cents and good morning to you. P.S. (Philip, if you are reading this or any members of this forum, feel free to share this note with other board members and shareholders).

Newtofo-

Have been reading some of the recent comments and in particular the frustration of the drifting down of our shares. It is hard to imagine, if we had gained recognition from new investors (after the proposed reverse split), that the price decline we are experiencing would have been any worse. Just keep thinking about this and whether the board has some ulterior motive. The selling is obviously still with us, and if things remain status quo, a price under 10p will be appealing to all.

Wetwater,

Thank you for a well-written, balanced summary of what my efforts have been about these past few days. POQ has always been pleasant even though on this particular topic he does not agree. You are perfectly correct over time the drilling bit will tell us the bottom line and have been waiting for all these years for just that, as have many others. The r/s you refer to is simply a mechanism to address 2 items of importance to FOG shareholders. First, the unfortunate liquidation of one or more large stakeholders has pretty much overwhelmed the available buyers and the r/s would possibly allow new investors to consider FOG once they hear the story. Second, if the company should need to access the capital markets, they most probably would need to r/s anyway. Staying ahead of the curve is my point. We are behind the curve in my opinion. FOG has a high quality prospect and a second rate investment profile as a PENNY stock. Thank you

To the best of my knowledge, nobody on the Forum knows me or acknowledges they do. It doesn't really matter; just an observation. My writing style has developed over 72 years, so unless, BigOnes was a teacher or professor of mine, it is simply coincidence. Notice the volume is picking up a bit and being purchased by one or more parties. Just trying to help all, as the company position of the price sinking if reverse split enacted, could not be much worse than what we are seeing currently.Think about it and express your opinion to the company if you feel it will help.

Thank you all for your opinions and hopefully Philip restarts our communication, realizing my interest is in helping all shareholders through this difficult liquidation waiting period. If currently disqualified investors have an opportunity to join us as shareholders, they could be just what you are looking for. Again, good luck to us all.

My position has been in place for a long time and the size disclosed previously. You have no basis to not "trust" me. If you think me such, contact POQ, who even though he does not speak with me anymore, knows my word is my word. Grow up

Morning everyone, our orderly slide continues this morning. Where "she stops nobody knows"except perhaps POQ and the board. The LIQUIDATION taking place by apparently (no other choice sellers) is being absorbed. The only question you should be wondering about is whether a reverse split with potential new investors might be the "sponge" that soaks up this support. There is not much to be added except we are in a waiting game. If the price gets into single digits and all else is the same, my plan is to begin to add. Good luck all

Marshmill,

Thank you and good catch, as I missed adding an important word while editing (see below).

my understanding for the geology presented keeps me interested, while NOT hoping the delays force the company into involuntary bankruptcy.

Wetwater

Touche: it will be what it will be.

Wetwater,

There a couple of responses to your uninformed comments. First, there is little evidence a reverse split is a guaranteed downer for a stock price. In fact, the reason the current rate of decline is what it is, is simply more selling than the market is CURRENTLY capable of absorbing without a price decline. Part of the reason is, the new potential shareholders we are discussing will not appear until the shares do a reverse split, because generally they are not permitted to buy. In all fairness, the shares while going down are doing so in an orderly fashion.
Frankly, POQ has not provided a strong case for his resistance to a reverse split and a rational investment banker would probably agree with me. He simply does not want to spend the $$ and further endanger his annuity.

You are correct my shares could be sold, but my understanding for the geology presented keeps me interested, while hoping the delays force the company into involuntary bankruptcy. If we owe 100% of the prospect with no cash in the bank, tell me how that makes sense. Buyers love to purchase great assets in bankruptcy. Who do you is the winner in that case?

To all, my opinions are mine alone and have been discussed with POQ a number of times. He simply ended our discussions for his own reasons and that is fine. But, it shows me he is not seeing the situation correctly; again, in my opinion. Finally, not sure where you came up with your net worth estimate for me, but it is not quite at the level your indicate; however, we are financial very comfortable and watching to see if FOG was worth the wait.

poiu,

As with most replies, as long as they civil, there is no problem. As to POQ and as stated a number of times, he has his pluses and minuses. My concern is entirely for the potential risk we all face caused by an unexpected delay. POQ is adamant against a reverse split, which he cannot explain at all to me. My opinion is simply a legitimate need to reverse split, the reasons of which have been explained previously. If you do not understand the advantages of that, reread some of my comments as to the benefits to us all . After all my years in the financial markets, my opinion is the company should explore alternatives with its bankers. If you read bitterness into my comments as opposed to the intended educational value, it is a shame you have missed my purpose in writing. But in any case, sink or swim, it will not impact me much at all and hope such is also the case for you and our fellows forum chatters, if FOG goes "for a swim".

Fleurs,

Thanks for your note and can assure you, the writer here is NOT the one and only POQ. As you note, I have only recently decided to join the forum because, as my phone critique of POQ and the boards' actions and comments, began "to cut to the quick", he simply stopped returning calls, which is certainly his right, but not what a professional manager should do. Over my 10 years of share accumulation, if there was something to ask or mention to him, POQ was fairy good at getting back to me. It is only in the last year or so that "a wait and see attitude" has become too pervasive. The commentary about running a tight ship seems to overlook the relatively huge salary expense and generous options the board has provided themselves. This company needs some additional capital, as a cushion against possible unexpected delays that would totally crush whatever chance FOG has to create shareholder value. Thus, my position is to reverse split the shares so an investment grade firm can raise funds to insure "staying power /survival" with a relatively small dilution. If in fact the asset is as large as presented, a prudent manager would be thinking ahead with his investment bankers, to protect that investment, instead of supposedly playing golf and traveling so he has something to do. From the comments on this board, one can be fairly certain, no new information has been provided to investors in these recent meetings; rather, POQ is spending on something on unproductive, except to visit with long time friend and shareholders of the company, most of which apparently are still underway after all this time. A phone call to his old friends / followers would be sufficient.

In response to a request for my name, it is relatively unimportant at this point. If POQ would like to share with anyone that asks him, tell him he is free to share my name (but will probably have read this himself soon enough.He has never met me; only knows my shares are about the same as his, except mine were purchased with my own cash and his through trading options bestowed to him and others. P.S. there no reason management and the board should not be allowed a reasonable number of options. Personally, I have greater benefitted from options granted in one situation where I sat on the board. The difference is in that case, which lasted 13 years, investors who stayed the course made what I consider once in a lifetime returns, which allows me to agree for both you and me, this company despite some good things, could see its further go down the drain, if not properly protected from the unexpected.

Been busy so unable to respond to the interesting dialogue on the forum until now. While, it is clear the forum is divided on some issues, there is an increasing awareness company financial responses do not present an ounce of caution for the unknown. Some might feel POQ has "a deal in his pocket" if need be, but as unknowing shareholders, we do not have the luxury of assuming such is the case. The company needs to be more forthcoming in my opinion regarding the thin financial cushion the company. My point is simply: should the company need additional financing (and not have a bird in the hand / pocket) deal, time will not be our friend if matters change for the negative. As for those who are wondering who is this person, let me simply say, I started with nothing, worked hard and am worth more than the company and; therefore, do not feel rich enough to be so blase as the company.

Bigones,

Your description of the situation certainly adds some real color to what has been been my argument. From this point, it would not be strain to imagine more delays in Beetaloo or SA, which previously seemed to be "just around the corner" from receiving good news. The drilling business is one with the odds against you. If you are fortunate enough to find somewhat potentially good, it can all go away, if you do not have the staying power to stay. We simply are too close to the edge of the cliff, even with Origin paying for the initial drilling. Origin has not reason to push FOG to raise funds. My guess is Origin would end up with all of Beetaloo if FOG went under? Interested if anyone can add to my points and question.

jhealy,

Certainly entitled to your opinion as this an open forum, so thanks for sharing. Hopefully, the company's investment bankers have someone reading this forum, as some of the issues we are discussing presently are important to them. If, the company has actually discussed its options to have an offering to bolster our resources, which at the current price is not horribly dilutive particularly given the downside protection, then perhaps we are better off than seems evident. My position is a skeptical one at best, as in POQ's words, the company has sufficient financing to sustain itself. This is his opinion as an CPA, but an experienced oil and gas industry leader in these circumstances, would be well-advised to reverse split the shares in anticipation of the need to go to market promptly...before we "take on water".

Camelot,

Appreciate your and possibly others beginning to appreciate the trap POQ and his directors must anticipate. If they have, it would be nice to be informed of such. Again, having so little in the bank, will become PAINFULLY clear at just the wrong time, if there is backup, which shareholders should be informed of, if for no other reason than to add comfort a horrible dilution is not in the cards. That fact may in fact be an untold reason the shares continue under pressure?

POQ once mentioned to me he does not read this board, which if true, if unfortunate, as he might gain something by reading. If you know he reads this chatroom, please fellow chatters be aware your comments are received where it counts.

Camelot,

Do not think at this point a committee is needed. However, if enough FOG shareholders notify or speak with company officials, a reverse split is one shareholder friendly move that could have positive results, while we wait one or more years for drilling to resume. There is absolutely no reason if the company qualifies, to not enact a reverse split. If the FOG board of directors is wrong and drilling is delayed for several more years, we are not in an unenviable position and face horrible potential dilution or worse. "A bird in the hand is worth two in the bush". Perhaps, the has company knowledge of an interested party should things get tight. If so, at point they would or have to declare such. In summary, this company is run, by and for a few insiders, who pretty much do as they please. Just the kind of situation, where in the past shareholder action brought about change. The writer of this note is past the age where anything more than informing my fellow shareholders there are a few things that would benefit all without getting into extreme actions this company cannot afford to fund.

newtofo,

In agreement on most of the points you raise. However, the bankruptcy of at least one of the largest shareholders has provided pressure on the shares and likewise, the opportunity to purchase shares, as I continue to do on occasion. The story while speculative seems a good one given the what information provided to date. We, as long-term shareholders, do have an opportunity to do something benefiting all with a minimal of effort. POQ will not have little more than sign the reverse split request and the rest is process by and large.

As hour concern of price decline, it is identical to the only one POQ ever mentions. My observations of the few reverse splits is good, as they are approved or not approved on their merits. Most FOG owners seem to be invested for the long term; simply because events have dictated such. The short-term flippers generally do not seem to impact price. However, the large seller(s) continue(s) obviously to pressure the shares. That is fine also, but they are the potential offset of the reverse split allowing new investors, large and small, to consider something possible unknown to them at this point in time. The only thing to add, is the exclusion of those excluded by price, has not allowed the market markers the ability to do what they like to do, i.e. trade size and move on the next trade. 50 years experience in financial markets permits me to make some reasonable assumptions of things that may improve a situation or visa versa. Experience has given me the belief in "doing what's right" for all who invested their hard-earned savings. POODS