Member Info for Poods

Perhaps, many FOG shareholders missed my prior messages. While, generally unknown on this board, the numerous messages have been read and mostly appreciated over the 10 years of owning these shares. Again, my comments are based on a 50 year investment background, which includes being involved in the removal of several CEO's of companies of substantially greater value than the present one. My position on is, POQ has done few things wrong; in fact, many things correctly. Yes, he has had his hands tied at times, but that does not mean there are not shareholder friendly matters to be done while we wait out the political and geological processes. I do not understand why any shareholder would not like to give FOG shares an opportunity to gain new shareholders, if for a relatively low cost, to file a request to reverse split our shares. Perhaps, there are a few parties who already know the FOG story, but are precluded from buying by price restrictions imposed at many U.S. brokerage firms. The only reason I can imagine for arguing for the low price, is the commissions are higher and that has it own conclusions. Speak up and / or, ask questions that might help this proposal along, as your FOG board WILL listen, if enough shareholders support a reverse split for good reason. Again, a reverse split does NOT guarantee a direction for the price of the shares; rather, it allows potential investors to at least consider a situation.

schlemiel,

I want to commend you for your excellent summary of the reality of the FOG situation. Philip has unfortunately written off my relationship with him, once I started to challenge his strange "bean counter thinking'. Note, he continues to take both a generous salary, while patting himself on the back of the tight budget he keeps. Further, the board continues to reward themselves with generous options, despite the continued delays. I understand the delays are beyond the company's control, but there is no need to rub the delays in the face of shareholders, who have paid in hard currency, by further diluting their investments. I only hope with all this free time on his hands, POQ has sharpened his golf game, whose fees apparently, require his generous salary. Finally, as an owner of ~2 million shares, accumulated over a "10 year wait-so far" period, I have had for several conversations with Philip and others and told them of the negative sentiment "penny shares" have; and thus, eliminating larger brokerage firms and their clientele as new prospective shareholders, who by the way could use the substantial liquidation taking place in FOG presently. For a mere pittance, FOG over time see its price raised to a level potential shareholders could consider FOG. But "NO" say the board?

P.S. I have previously expressed my opinion on this board of the potential long term benefit for all shareholders of a reverse split. POODS

My first statement this morning was quite clear; my background has been entirely in the investment banking and registered investment advisory businesses. My comments have been written because almost to the "man or woman" on this board, all repeat what POQ either said directly to you, or indirectly through something you heard or read. If the largest shareholder(s) in FOG were to contact me for an intelligent discussion of the benefits to my suggestion, it would most probably benefit all shareholders equally. If in a reasonable period, my board comments lead nowhere, it will make sense to stop them and wait to see what happens, as again the prospect is good and time is needed to prove it up. In the interim there is something which should result in letting the sellers out easier and letting new investors, who are currently unable to invest, to be able to invest. The market value will be based on what the market quote is, but the liquidity will be much better in due course. It is as simple as that and hopefully a few of you will recognize these facts based on my experience.

Appreciate your response, but 50 years experience at the highest levels in financial markets gives me confidence in what is suggest. There is perhaps some truth to our concern of the shares dipping in the short run, but as you say, in the long run the value is the value. My opinion is mine alone and hopefully others will see the light and question the company's current reluctance to a share reversal. Remember, if drilling continues to be successful, the shares even if they increase 1000% are still a $2 stock and very few, if any, institutional investors will likely consider investing. Like it or not, the institutional investor is the one that determines over time the full value of a company unless someone buys the company. Over time perhaps one of the major holders of FOG will reach out to me so we can work for the benefit of all as the board seems not genuinely focused on the little guys.

Thank you for your thoughtful response. You are correct the serious corporate cash burn has shrunk appreciable; however, given the possibility of further delays, the relative high cost of operations for a company this small or no flexibility should another opportunity present itself, the cushion is too small. If we wait until we REALLY need the funds, the market value, in mind experience, will be a fraction of what it is now and the new offering will be more dilutive and topped off with more OPTIONS for the free riders. The board discussions are private, so I have no idea whether there is a knowledgeable financial person in those meetings. POQ is an accountant by trade, apparently a pretty good negotiator, but not a seasoned financial executive, whose job it is to make sure a company avoids getting into the trap we may find ourselves soon. As to the large holders mentioned, I do not know what their position is, but frankly it would make no sense for them to object to more potential shareholders, stronger trading activity and better sponsorship. In my opinion, we have "a world class asset in the making" and management not equal to the task of having the company accessible to a much larger audience than we presently have. As one who has sat on boards, it is my opinion there is much more to be done and time is a-wasting.

This is my first comment in this forum; although, have been a shareholder of several million shares of Falcon for about 8-10 years. Let me say this board has generally been an excellent resource for shareholders and others to express their opinions and on some occasion​s​ to provide expertise, particularly, those with oil / gas industry expertise. ​ ​Once, it was suggested to POQ, he consider reading this board for some useful input, but at that point said he did not read it​. Perhaps, he does now. Over the last several years, several unsuccessful attempts to convince POQ and a few others of the need to reverse split the shares and reasons to do so have failed.​ ​ My suggestion is based on over 50 years of investment experience as an analyst, director of well-known regional firm and principal of a U.S. based, registered investment firm.​ ​ Unfortunately, FOG's history has resulted in cash being wasted, resulting in today's dangerously low cash reserves. ​ If for some unknown reason, operations in both Australia and SA were delayed further, substantial additional dilution is in our future. Directors and management will not suffer, as they will find a way to issue themselves substantial additional options as they have shown they do well for themselves historically; spending basically nothing to "have a chance" we shareholders have paid for and waited patiently! Our current market value partially reflects what investors feel is a good "prospect". As such the company should strongly consider an offering of sufficient size to get us properly funded and better known. Perhaps, an issue not addressed by the current company board is an under​appreciated fact many investors are excluded as potential shareholders for one simple reason: the current price of the share is literally pennies and considered JUNK! ​ ​Unless the share price is above $5 per share, most brokerage firms; and therefore, many qualified investors, are excluded from purchasing FOG shares at major brokerages. ​ ​A reverse split could be a positive move for its shareholders for the following reasons: first, prospective investors would be permitted in many cases to invest where price is ​currently ​a restraining factor in allowing shares​ to be traded​; secondly, potential larger investors could absorb shares being sold by shareholders, some selling involuntarily, as in the case of a bankruptcy; and lastly, over time research recommendations might be written, increasing awareness. A number of comments for the need to raise funds as a cushion continues to fall on deaf ears at the company. POQ is apparently reluctant to seriously engage with bankers on the topic of a reverse split. ​But by reversing the share price now, investors over time should benefit from stronger, deeper trading market and prepare the market should we go ahead and raise fun

Thank you and in due course (should not be much longer) I will write. I did not know one can write / reply without the premium account.

I have now sent you 2 messages this morning. I am new to the board, have owned many Falcon shares for a long time and want to discuss something important for all shareholders that the board refuses to discuss and for no apparent reason. Not sure if I am sending this through correct channels but hope so.