Investor Presentation

1
Investor Presentation
September 19, 2006
2
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
  Companys plans and the impact of certain events,
  risks and uncertainties. All statements that
  address expectations or projections about the
  future, including statements about the Companys
  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.

3
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

4
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.

5
Market Analysis
6
Current Rig Demand

• 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.

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

7
Natural Gas Demand by Sector
Trillion Cubic Feet

• 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.

8
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.

9
Unconventional Natural Gas

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

Source Gas Technology Institute

• 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.

10
Forecasted New Production

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

11
Shale Reserves in the Lower 48

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

12
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 todays 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.

13
Average Rig Utilization
Source Company Filings

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

14
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.

15
Drilling Economics

• 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 GA 1K
• EBITDA Margin
  9K (45)

16
Current Business
17
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.

18
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.

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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.

20
Forsters 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.

21
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

Work In Progress

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

Work In Progress
22
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.

23
Exploration and Production

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

24
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.

25
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.

26
Growth Plan Use Of Proceeds
27
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.

28
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.

29
Valuations
30
Capitalization Table

• Fully Diluted shares outstanding are
  approximately 42M shares.

31
Comparables

• Forsters peers are trading at approximately
  14M in Enterprise Value (EV) per rig.

32
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.

33
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

34
Conclusions
35
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

36
Contacts

• Forster Drilling Corporation
• 6371 Richmond Ave., Ste. 275
• Houston, TX 77057
• www.forsterdrilling.com
• For Information Contact

Jonathan Buick jbuick_at_buickgroup.com 1.877.748.091
4
W. Scott Thompson wst_at_forsterdrilling.com 713.823.
2489
37
Appendix
38
Management

• Fred Forster Jr., Chairman Emeritus
• After 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. Forsters direction have drilled
  several thousand wells since 1948. Drilling
  companies under Mr. Forsters 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.

39
Management

• Fred Forster III, Chairman, President and CEO
• Fred 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.

40
Management

• Bud Najvar, CPA, Chief Financial Officer
• Mr. 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
  Operations
• Keith 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 fathers
  Abilene, Texas based drilling company from 1973
  to 1975. Mr. Atwood worked with Otis
  Engineerings 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.

41
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
  19781982. 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 Superintendent
• Forty-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.

42
Management

• Cullen Hudnall, General Manager - Fabrication,
  Refurbishing, and Machining
• Employee of Penco Machine from 1986 to 1995. Mr.
  Hudnall began his career as machinists
  journeyman and ultimately became general manager
  and part owner. Penco specialized in repair and
  remanufacture of oilfield drilling rig
  components. After retirement of Pencos 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.