otc bb: fodl investor presentation september 19, 2006

OTC BB: FODL

Investor Presentation

September 19, 2006

2Forster Drilling Corp., Investor PresentationOTC BB: FODL

Disclaimer

• This document contains forward-looking statements. The forward-looking statements may be identified by words like "plans", "expect", "focused", "vision" and similar expressions. These forward-looking statements are based on current conditions and assumptions and are not a guarantee of future events. Actual events could differ materially as a result of changes to the Company’s plans and the impact of certain events, risks and uncertainties. All statements that address expectations or projections about the future, including statements about the Company’s strategy for growth, expected expenditures, commodity prices, costs, schedules and production volumes, operating or financial results, are forward-looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions.


Investment Highlights

• Forster, a Name Synonymous With Drilling For Over 75 Years

• Early Stage Pure Play Onshore Driller

• Concentration in Forster's own backyard - Texas and New Mexico

• Building a Fleet of Standardized, Modern, Bigger, Better Rigs In-house

• A Planned Growth Company

• Small Additions to Fleet Meaningful


Executive Summary

• Forster is building/rebuilding a modern fleet of bigger, better rigs standardized as to make (National Drawworks and Lee C. Moore Masts) and rated at between 950hp and 2,000hp with 11,000 to 20,000 foot maximum drilling depths.

• We will concentrate our operations in own backyard, Texas and New Mexico, where rig utilization rates and day rates remain higher, due to prospect quality and a heavy concentration of natural gas resources.

• In addition to the original capital contribution by Company founder F. E. Forster III, we have raised approximately $5M dollars from three equity rounds. Those funds were used to purchase seven drawworks, two masts, a substructure, rotary tables, swivels, block and hook, floor motors and mud pumps. This also paid for the construction and deployment of our first rig, Forster Rig No. 15, a National 50CA (MEL Valuation $9.5 million dollars - construction costs $4.5M).

• 4th quarter 2006 - we plan to build two rigs and deploy one. We plan to finance this growth with $5M in debt and $5M in equity.

• In 2007 we plan to build seven rigs and deploy eight rigs. We intend to finance this growth with cash flow, $17M dollars in debt and $11M in equity.

• By the end of 2007, we plan to seek a listing on a senior U.S. Stock Exchange, deploy a total of ten rigs and participate with our customers in the exploration for and production of oil and natural gas.

OTC BB: FODL

Market Analysis


Current Rig Demand

• Over the past decade, up to 90 percent of all wells drilled in the U.S. were drilled for natural gas.

U.S. Gas 1,325 77%U.S. Oil 307 18%U.S. Offshore 95 6%Total 1,727

Baker Hughes Rotary Rig Count

*Source September 8, 2006 Baker Hughes Weekly Count

• Growing demand for natural gas, the transition to unconventional gas (coal-bed methane and shale gas), steeper declines rates, smaller reserves per well, rapidly rising returns to operators, along with an antiquated rig fleet translates into current demand and long-term demand for rigs outpacing supply.


Natural Gas Demand by Sector

• According to the Energy Information Administration, natural gas demand is expected to increase by approximately 22% in the next decade, from a current level of 26 Tcf per year to 32 Tcf per year, with the largest increases coming from the Industrial and Electricity Generation sectors.

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Natural Gas Production by Sector

• In the last decade, unconventional U.S. natural gas production has increased from 24% of total production to 41% and will continue to be the largest contributor to domestic production in the coming years.

• Unlike the global oil market, the natural gas market is limited to North and South American production, due to the logistical constraints of pipeline infrastructure and the financial constraints of shipping LNG.


Unconventional Natural Gas

• Unconventional Gas include: Shales, Tight Sands and Coal Bed Methane. Examples include the Barnett Shale and the San Juan Basin.

• They are typically resource plays, which have a high probability of success per well, tempered by severe initial decline rates, low total recovery and smaller reserves per well. Basically, lower risk and lower total production wells.

• The net effect is – more wells are needed to produce the same amount of gas.

Source: Gas Technology Institute


Forecasted New Production

• This illustrates the additional annual production needed to offset production decline and domestic demand growth.


Shale Reserves in the Lower 48

• U.S. shale production is still in its infancy and will require decades of drilling to develop.


Rig Count and Forecasted Demand

• At the beginning of the last oil boom (1973-1983), the active U.S. land based rig count was 1,100 rigs with 1,700 rigs available. By 1983, the number of active rigs had grown to 4,000 with over 5,500 rigs available.

• At the beginning of the current boom 2003, the U.S. active land rig count was 800 rigs, with 1,600 rigs available.

• Fast-forward to 2005, we are to the point where excess supply has been cannibalized, the existing rig fleet is twenty-five years old, and rig utilization is approaching 98% in many active regions of the United States.

• Raymond James estimates that there will be demand for an additional 850 rigs in the U.S. over the next five years. That represents as 50% increase over today’s rig fleet and equates to a 7% compounded annual growth rate.

• It is anticipated that the current shortfall in drilling equipment will last for up to ten years. In 1981, the available domestic rig fleet peaked at 5,530 or approximately 4,000 more rigs than are available today. At the 7% compounded growth rate it will take twenty years to reach that level again.


Average Rig Utilization

0%

20%

40%

60%

80%

100%

120%

2000 2001 2002 2003 2004 2005 2006

Pioneer

Helmerich & Payne

Grey Wolf

Patterson-UTI

Nabors

Source: Company Filings

• Rig utilization rates have continued to increase, even while companies have added to their fleets.


Drilling Economics

• Exploration and Production companies/operators pay drillers by dayrate contracts, footage contract (by the foot) or turn-key contact (negotiated payment for drilling to an agreed upon depth).

• Day rate contracts are considered the most profitable for the contract drillers and are thus preferred. Over 85% of all drilling contracts are day rate.

• Under a day rate contract the contractor is responsible for labor, insurance, rig maintenance, drill pipe, most consumables, "soap, dope and rope". The operator is responsible for rig mobilization and demobilization, drilling fluids and fuel.

• Dayrates have doubled in the past 12 months for a 12,000' gas well from 10,000 dollars per day to 20,000 dollars per day. Much of the increase can be attributed to an increase in rig utilization rates in Texas from 87 percent to 96 percent.

• As demand outstripped supply, operators were forced to bid-up dayrates to insure rig availability.

• While contractors have experienced increased labor and equipment costs over the past 12 months, much of the increase in day rates falls to the bottom line.


Drilling Economics

Gross EBITDACompany Ticker Mkt. Cap Margin Margin

Bronco Drilling Co. Inc. NasdaqNM:BRNC 437.51 48.81% 41.23%Grey Wolf Inc. AMEX:GW 1,650.13 43.29% 41.18%Nabors Industries Ltd. NYSE:NBR 9,125.73 45.69% 38.64%Patterson-UTI Energy Inc. NasdaqNM:PTEN 4,155.98 50.51% 48.43%Unit Corp. NYSE:UNT 2,208.83 56.83% 55.47%Average 3,515.64 49.02% 44.99%

• Contract dayrates have doubled over the last 12 months and the current per day economics for a typical 12,000 foot gas well contract are as follows: Dayrate: 20K , Labor 7K, Maintenance, Insurance and Consumables 3K .......(Remember on a dayrate contract operator pays for fuel)

Dayrate: $20K Labor: $7K

Maintenance, Insurance and Consumables: $3K Gross Margin = $10K (50%)

Less: G&A: $1K EBITDA Margin = $9K (45%)

OTC BB: FODL

Current Business


Introduction

FORSTER, A NAME SYNONYMOS WITH DRILLING FOR OVER 75 YEARS.

• Forster Drilling Corporation is a Nevada domiciled publicly traded (OTC BB: FODL) holding company engaged, through its' wholly-owned subsidiaries, in three related business activities:

• Forster Drilling, Inc. – Providing contract onshore drilling services to oil and natural gas exploration and production companies.

• Forster Tool and Supply, Inc. – Building new rotary drilling rigs and refurbishing to "like new" stacked rotary drilling rigs and major rig components.

• Forster Exploration and Production, Inc. – Joint Venture participation with drilling service customers in the exploration, development and production of oil and natural gas.

• The short term goal of the Company is to build and/or refurbish and put into service under term daywork contracts 10 rotary drilling rigs in our own backyard, Texas and New Mexico.

• The Company's long term goal is to build new and/or refurbish to "like new" and/or buy new and put into service under term daywork contracts 40 rotary drilling rigs.


History

• Fred Forster, Sr. started his drilling career with Manville and Thompson Drilling (later A.W.Thompson Drilling) in the early 1920s. He worked for A.W. Thompson for over 30 years, during which he made many innovations that are standard practices today.

• Fred Forster, Jr. joined his father in 1948 and together they founded Forster Drilling in 1952, which grew to 10 rigs.

• In 1966, Forster Drilling joined with Major and Giebel Oils of Midland to form the partnership Major, Giebel and Forster (later MGF Oil). MGF grew to 55 rigs.

• In 1975 Fred Forster, Jr. Retired from MGF and was joined by his son Fred Forster III, together the organized the second Forster Drilling in 1977 and acquired 4 rigs. This Company was eventually sold to Williams Brothers.

• In 1983 the Forsters acquired Pulliam Drilling a 3 rig company that was eventually sold to Wes-Tex Drilling.

• First quarter 2005 Forster Drilling Corporation was organized pursuant to the laws of the state of Nevada with Fred Forster, Jr. as Chairman Emeritus and Fred Forster III as the Chairman and CEO. The Company is currently building a 7 rig fleet.


Contract Drilling Services

• The Company's primary focus is to provide contract onshore drilling services to companies that explore for and produce oil and natural gas ("operators").

• Drilling operations will focused in three major geographical regions: (i) The Permian Basin of West Texas and Southeastern New Mexico (ii) The Barnett Shale Trend of North Texas (iii) The Cotton Valley/Travis Peak Trend of East Texas.

• The Company will concentrate its operations in Texas and New Mexico, where utilization rates and dayrates remain higher, due to prospect quality and higher concentrations of natural gas.

• Natural gas production is typically found deeper and generally requires bigger, better equipment & more experienced crews to exploit.

• Up to 90% of all wells drilled in the U.S. during the last 10 years have been drilled for onshore natural gas.

• The trend in drilling depths is ever deeper. The Company is currently refurbishing to "like new condition" a standardized fleet of modern, bigger, better rigs.


Forster’s Current Fleet

• The Company is standardizing its' Fleet as to Drawworks and Masts: National and Lee C. Moore. The Industry "Gold Standards".

• The Company plans to trade its' Continental EMSCO A550 for a National 55

• The Company is looking to acquire an additional National 55 and two National 80Bs to rebuild and deploy in 2007.

Count Description Planned Deployment Horsepower Rated Depth

1 Rig No. 15 National 50CA Sep-06 950hp 11,000'

2 Rig No. 12 National 55 Nov-06 1,100hp 13,000'

3 Rig No. 18 National 110UE Jan-07 2,000hp 18,000'

4 Rig No. 16 National 100 Mar-07 1,500hp 16,000'

5 Rig No. 10 National 50A May-07 950hp 11,000'

6 Rig No. 11 National 55 Jul-07 950hp 11,000'

7 Rig No. 17 National 50A Sep-07 950hp 11,000'


Fleet Deployment

Rig No. 15, National 50CA• Deployed: September 12, 2006• Operator: Chesapeake Energy• Term: 365 days• Dayrate: $16,000• Location of Rig: New Mexico• Rig Condition: As New• Appraised Value: $9,500,000

Rig No. 12, National 55• Deployed:• Operator:• Term: • Dayrate: • Location: • Rig Condition• Appraised Value:

Rig No. 18, National 110UE• Deployed:• Operator:• Term: • Dayrate: • Location: • Rig Condition• Appraised Value:


Manufacturing, Refurbishing and Fabricating

• The Company owns a purpose-built manufacturing facility in Odessa, Texas. The facility consists of five fenced acres, with controlled access, two 15,000sq ft "rig hangers" each with twin overhead electric cranes for heavy equipment mobilization and assembly, a stand alone engine shop, complete machine shop, sandblasting/paint booth and associated offices.

• This facility provides an all-weather environment with the necessary tools and equipment to build new rigs, refurbish/rebuild stacked rigs & major components to "like new" and make each rig field ready.

• The Company currently employs experienced machinists, mechanics and fabricators to build and/or refurbish much of each of our rig fleet in-house.

• The Company can build or rebuild a rig using rebuilt components for approximately 1/2 the cost of buying a new build.


Exploration and Production

• The Company's oil and natural gas exploration and production ("E&P") activities will leverage off its' contract drilling activities.

• The Companies E&P will be focused in the same geologic basins as its' contracting activities: The Permian Basin, The Ft. Worth Basin and The East Texas Basin.

• Our hands-on experience with exploration and development of trends within these basins and teaming with customers that have a proven tract record in the trend will allow management to high-grade prospects, thus lowering risks while increasing returns.

• Due to the current tight supply/high rig utilization rates in these Basins, management anticipates that the Company will be able to participate in high quality prospects with customers on an un-promoted basis.

• The Company will participate in customers prospects as a time proven method of building assets and income not dependent on service contracts.


Location of Drilling Operations

• The Company will offer its' contract drilling services and conduct its' oil and natural gas exploration and production activities in its' own backyard, Texas and New Mexico where rig utilization rates and day rates remain higher due to prospect quality and heavy concentrations of natural gas.

• Permian Basin West Texas Southeastern New Mexico encompasses 66,000sq miles and according to the DOE contains estimated 29 percent of the US's yet-to-be-discovered oil reserves.

• Barnett Shale Trend North Texas-Barnett Shale is a continuous, unconventional gas accumulation, a single very large gas field that encompasses 1,000s of sq. miles. Advancements in fracturing technology have enabled operators to make the Barnett Shale the regions largest gas producer.

• The Cotton Valley/Travis Peak Trend of East Texas is a continuous-type basin-center conventional gas system that encompasses 1,000s of sq miles. One of the 25 onshore provinces that USGS says contain 95 percent of the U.S. known and undiscovered gas resources. Wells drilled in the Cotton Valley are: predominately natural gas, have high probability of success, have significant development potential and repeatability.


Competitive Strategy

• We will concentrate our operations in our backyard, Texas and New Mexico where rig utilization rates and day rates remain higher due to prospect quality and heavy concentrations of natural gas resources.

• Natural gas is typically found deeper and natural gas exploration generally requires bigger, better equipment and more experienced crews to drill the wells.

• Rigs rated to deeper depths will demand higher dayrates and deliver wider profit margins than rigs rated to shallower depths.

• We will build bigger, better rigs.• We will standardize our fleet as to make: National Drawworks, Lee C. Moore Masts,

the industry "gold standard“.• Bigger, better rigs, a standardized fleet attracts and retains more experienced

crews. • We will maximize our rig utilization rates by:

• Making our customers stakeholders in the Company and we, in turn ,will become stakeholders in our customers oil and natural gas exploration and production projects.

• We will not build a rig without first having customer for it. • We will build the rig to the customers requirements.• We will develop in-house our own high quality exploration and development

prospects to JV with industry partners and drill them with our own equipment.• Our Competitive Strategy emphasizes working close to home, building our fleet

internally, one rig at a time as needed, building a standardized fleet of modern, bigger, better rigs, the quality and experience of our crews and the Forster 75-year history to differentiate us from our competitors.

OTC BB: FODL

Growth Plan – Use Of Proceeds


Looking Back

• In addition to the original capital contribution by Company founder, F.E. Forster III, the Company has raised approximately $5M from three equity rounds.

• Those funds were used to purchase seven drawworks, two masts, a sub, rotary tables, swivels, block & hooks, floor motors and mud pumps and the build and deployment of the Company's first rig, Forster Rig No. 15, National 50CA.

• Many of Rig 15's major components: drawworks, mast, rotary table, swivel, block and hook, floor motors and mud pumps were purchased used and rebuilt to "as new condition".

• Other major components: the substructure, mud system, water tanks, and crew quarters were fabricated in-house.

• The Company spent approximately $4.5M build the rig and purchase drill pipe. Rig 15 has been independently appraised by MEL Valuations at $9.5M.

• Rig 15 has been deployed to New Mexico pursuant to a 365 day term daywork contract at a dayrate of 16,000 with anticipated gross margins of 46%.

• The Company is currently building Forster Rig 12, a National 55. This Rig has been spoken for and will be deployed in November to the Barnett Shale.

• We have accomplished a lot with a little, just imagine what we could do if we were fully funded.


Growth Plan

• Company's short term goal is to build and deploy (put into service) ten rigs.

• 4th quarter 2006-Company plans to build two rigs and deploy one.• Company plans to finance this growth through bank debt of $5M an equity

of $5M.• Company 4th quartet 2006 cap-ex budget is $10M.

• 2007-Company plans to build seven rigs and deploy eight.• Company plans to finance this growth through cash flow, bank debt of

$17M and equity of $11M.• Company 2007 cap-ex budget is $45M.

• 2008-Company plans to build five rigs and deploy five rigs .• Company plans to finance this growth through cash flow.• Company 2008 cap-ex budget is $15M.

• Company's long term goal is to build and put into service forty rigs.• As the Company grows its' Fleet, it will seek to participate in

customers oil and natural gas exploration and development projects, in order to build assets and cash flow independent of contract drilling services.

OTC BB: FODL

Valuations


Capitalization Table

Founders Shares (2005) 31,580,000Other 2,845,464Series A 2,530,000Series B 3,099,999Public Shell Shares 2,000,000Total Shares 42,055,463

Fully Diluted Capitalization

• Fully Diluted shares outstanding are approximately 42M shares.


Comparables

Land FYE 2006 TTM TTMCompany Ticker Rigs EV/Rigs P/E P/OCF

Bronco Drilling Co. Inc. NasdaqNM:BRNC 64 7.69 N/A 28.82Grey Wolf Inc. AMEX:GW 114 12.13 9.91 6.64Nabors Industries Ltd. NYSE:NBR 536 21.10 13.09 N/APatterson-UTI Energy Inc. NasdaqNM:PTEN 403 9.94 8.24 6.35Unit Corp. NYSE:UNT 111 20.99 9.02 N/AAverage 14.37 10.06 13.94

• Forster’s peers are trading at approximately $14M in Enterprise Value (EV) per rig.


Asset Value Proposition

• Total construction costs for Rig #15 were approximately $4.5M, (well below the industry average for this type of rig).

• Current third party appraisal for the rig is approximately $9.5M with a $7.5M Loan Value.

• Forster is one of the few remaining companies with the expertise to build a rig from the ground up, which results in large cost savings limits competition.


Investment Considerations

• Company Management has demonstrated that it can execute. • Pure-play onshore driller.• High Growth. • Small additions to the fleet meaningful.• High Quality Assets.• Conservative Balance Sheet.• Return on investment focus. • The Company's short-term objective is to build and deploy 10 rigs.• Upon achieving this short-term goal, the Company anticipates that

then "orderly liquidation value" of the fleet would approach 110 million dollars.

• As a going concern The Company's public peer group valuation based on multiples of pro-forma, sales, earnings, cash flow and book value could approach 250 million dollars

OTC BB: FODL

Conclusions


Conclusions

• Increasing domestic demand for natural gas coupled with lower reserves per well and steeper decline rates will necessitate more wells and more rigs.

• The excess supply from past booms have been consumed and the current shortfall in drilling equipment could last for ten years. The Company has built and deployed one rig.

• The Company plans to build two rigs and deploy one 4th quarter 2006, The Company plans to build 7 rigs and deploy 8 in 2007 for a total of 10 rigs built and deployed.

• The Company's short-term objective is to build and deploy 10 rigs. Upon achieving this short-term goal, the Company anticipates that the then "orderly liquidation value" of the 10 rig fleet could approach 110 million dollars. As a going concern, the Company's peer group valuation based on multiples of pro-forma sales, earnings, cash flow and book value could approach 250 million dollars


Contacts

Forster Drilling Corporation6371 Richmond Ave., Ste. 275

Houston, TX 77057www.forsterdrilling.com

For Information Contact:

Jonathan [email protected]

W. Scott [email protected]

OTC BB: FODL

Appendix


Management

Fred Forster Jr., Chairman EmeritusAfter service in WWII as a bomber instructor pilot, Fred Forster, Jr., joined his father at Thompson Drilling in 1948 as an engineer and then rig supervisor (tool pusher). In 1952, they formed Forster Drilling headquartered in Odessa, Texas with one rotary-drilling rig. The Company ultimately grew to a 10-rig fleet including a division operating in Arkansas. Mr. Forster served as President of Forster Drilling from 1952 to 1966. In 1966, Forster Drilling consolidated with Major and Giebel Oils of Midland, Texas forming the partnership of Major Giebel and Forster (later becoming MGF Oil Corporation) and MGF Drilling Company, a wholly owned subsidiary of which Mr. Forster became President. MGF Drilling eventually grew to a 55 rig drilling fleet operating in five geologic provinces including offshore drilling barges. Mr. Forster was a Partner with Forster Companies from 1980 to 1988. He has worked as an Independent Oil Operator since 1988-present. Drilling companies under Mr. Forster’s direction have drilled several thousand wells since 1948. Drilling companies under Mr. Forster’s direction have drilled several thousand wells since 1948. Mr. Forster received a BS in Chemical Engineering from The University of Texas at Austin in 1948.


Management

Fred Forster III, Chairman, President and CEOFred Forster III has served as Chief Operating Officer and Chairman of the Board of Directors of Forster Drilling Corporation since its inception in 2005. Mr. Forster has over 30 years of experience working in the land drilling and financial industries. He began working on drilling rigs during summer vacations. After graduating from the University of Texas at Austin with BBA and MBA degrees, he and his father acquired a 4-rig drilling company in 1977 which was renamed to Forster Drilling Co. Inc. He serviced as Vice-President and remained with the company after it was sold to Williams Brothers of Tulsa, OK. In 1981, he acquired and served as President of Pulliam Drilling from 1981 to1984 and as President of D & F Machine Company, Odessa, Texas 1980 from 1985. D & F Machine repaired and refurbished large gas compressors and provided global service to its customers. Under Mr. Forster, annual sales doubled. The company was sold to Compressor Components in 1985. Mr. Forster was Chief Executive Officer of the Rankin Oil Company from 1986 to 1988. Mr. Forster has significant experience in the financial services industry and was with Solomon Smith Barney from 1989 to 1996. He served as Senior Vice-President of Sunpoint Securities from 1996 to 1998, and he was a Founder of Petroplex Saving in Midland, Texas in 1981. From 1998 to 2005, Mr. Forster was an independent drilling consultant working on wells in the Barnett Shale and the Permian Basin. During this time he built rigs for Jelco Energy which is now part of Patriot Drilling. Mr. Forster holds a BBA and an MBA from The University of Texas at Austin, and has taught accounting and economics at The University of Texas - Permian Basin.


Management

Bud Najvar, CPA, Chief Financial OfficerMr. Najvar began his career in 1979 as a staff auditor for Touche Ross & Co. From 1980 to 1990, he worked for KPMG Peat Marwick in the tax department as well as serving as the firm's liaison to the Corpus Christi business community. Mr. Najvar then served as the Director of Tax for David Taylor Cadillac from July 1990 through March of 1991. From 1991 to 1997, Mr. Najvar was a sole practitioner focusing on tax and business work. Mr. Najvar then became a partner at May, Swaim & Najvar in 1997, where he worked until 2000, focusing on tax and acquisition work. In May of 2000 through May of 2002, Mr. Najvar was the Senior Tax Manager at Margolis, Phipps & Wright, P.C. In May of 2002, Mr. Najvar became a partner in Najvar & Najvar, CPAs. Mr. Najvar is a certified public accountant who received his B.B.A. degree from the University of Texas in 1979.

Keith Atwood, Senior Vice-President – Drilling OperationsKeith Atwood has wide-ranging experience in the oil and natural gas industry. He has held the primary responsibility and supervision of the drilling and production of over 3,000 wells in 10 states. He began his career working as an Assistant Drilling Superintendent for father’s Abilene, Texas based drilling company from 1973 to 1975. Mr. Atwood worked with Otis Engineering’s special services division from 1975 to 1977, and he worked with Gearhart-Owens in open hole and cased hole operations from 1977 to1979. Mr. Atwood was Operations Manager for Union Exploration from 1980 to 1983. He was Operations Manager with Mussleman, Owen, and King from 1983 to 1994, and served as Senior Vice-President of Operations with Costilla Petroleum and Costilla Energy, Inc., from 1994 to 1999. Recently he has been Contract Operations Manger for Atlantic Operating and Compass Operating from 1999 to 2005. Mr. Atwood attended Southwest Texas State University.


Management

W. Scott Thompson, Secretary, Treasurer and Director

Scott Thompson has 30 years of experience in developing petroleum and financial companies. Mr. Thompson began his career as Administrative Assistant to Preston Smith, Governor of Texas from 1971 to 1974. He was a Partner of Geosearch in 1977, and he served as Chief Operating Officer and Director, of American Crude, Inc. from 1978–1982. Mr. Thompson served as President and Director of Great Western Production Company, Inc. from 1983 to 1986. He served as Officer and Director of Harris-Forbes, Inc. between 1983 and 1993. Mr. Thompson was President and Director of Eurotrade Financial Inc. from 1993 to 2005. He returned to Harris-Forbes, Inc. in 2005, where he is currently acting as President and Director. Mr. Thompson is Vice President and Director of Process Technology Systems, Inc., he has served as President and Director of Clear Creek Oil & Gas, Inc. since 2001, and he is also currently a Director of Oilsands Quest Inc. Mr. Thompson holds a BBA from The University of Texas at Austin and completed work at the Graduate School of Business at University of Texas at Austin.

Dean Willis, Drilling SuperintendentForty-five years ago, Dean Willis began his career in the oilfield as a Floor-Hand on a Forster Drilling Co., Inc. rig. Mr. Willis has experience at every position on a drilling rig. Prior to joining the Forster team for the second time, Mr. Willis was an Assistant Drilling Superintendent for Adobe Drilling in Odessa. Mr. Willis has drilled thousands of wells in Texas and New Mexico as a floor hand, derrick man, driller, or rig supervisor (tool pusher). His depth of experience is invaluable to the Company.


Management

Cullen Hudnall, General Manager - Fabrication, Refurbishing, and Machining Employee of Penco Machine from 1986 to 1995. Mr. Hudnall began his career as machinist’s journeyman and ultimately became general manager and part owner. Penco specialized in repair and remanufacture of oilfield drilling rig components. After retirement of Penco’s co-owner, Mr. Hudnall founded Petroplex Machining and Supply, Inc., a drilling component fabricator and supply house, from 1995 to January 2005. Mr. Hudnall joined Forster immediately after liquidating Petroplex in 2005.

otc bb: fodl investor presentation september 19, 2006

Documents

forster drilling

forster rig

investor presentation

fodl investor presentation

forwardlooking statements

fodl executive summary

better rigs

fodl disclaimer