RE:KIng of Oil and Gas Financiers Penny I was thinking about their strategy. Their last big purchase was the old Lightstream/petrobakken assets. Lightstream went bankrupt because the geniuses put a lot of debt into a large convertible debenture. It work a few times when oil prices were high. Dilution at a higher stock price no big deal. Then there was a lot of US denominated debt.
the convertible wasn't converted, the C dollar tanked, oil tanked, the idi ots never had any currency hedges and they were running the company too hard. When prices tanked the decline rate and debt killed them.
now here is Saturn arranging a large convertible debenture in US funds...