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Originally Posted by Roughneck
$10K from my college fund went to that IPO. Don’t know how much my parents put in. Definitely didn’t make a million, but low six figures. My dad’s friend who was a higher up at Petro-Canada put him onto it. A network of Irish immigrant professionals made a lot of money with that marvellous little company.
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Quote:
Originally Posted by firebug
I spent 7 years in investment banking out of university.
Had lunch with billionaires more than once.
Meeting with clients worth 8-figures was very common and those worth 9-figures not unusual.
Recall in 2006 taking an $8/share acquisition offer to a company president who owned more than 4-million shares. He turned it down saying he felt they were worth $10/share. Also recall that same company going bankrupt in 2013... them's the breaks ;-)
One of the first deals I worked on was for Petrolifera Petroleum (PDP). We did a pre-ipo round at 1.50 and then an IPO for a $2.50 unit including a half warrant. I believe the stock topped out over $20 in its first year - my MD made over $1-M on just that one deal.
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Oh the good old days of Colombian oil and gas and PDP. I was working as a Geologist on a number of Colombian projects for a couple different companies and was very familiar with PDP. Everyone was making fists full of cash in Colombian and honestly it was all pretty sketchy. There was certainly some great assets down there and some strong reserves and production potential but a lot of corporate structures and shell companies and ownership was really hard to understand.