Global Value Investing

[throwerw]

wow, I hadn't looked at this one in a few weeks, crazy. management appears to be delivering on their promises but I missed this:

"Recently, there has been some market focus on our convertible debentures which mature in February 2016. The debentures have a one-time, one-day early put option on February 8, 2013 that allows those holders that elect to exercise the option to request payment in full for their debentures. In the event that holders request payment, PetroBakken has the option to repay in cash or through the issuance of PetroBakken shares based on the then current share price."

http://www.benzinga.com/pressreleases/11/10/m1959622/petrobakken-provides-operational-update-highlighted-by-production-of-ov

That's news to me; my fault for not reading the fine print. it creates an obvious incentive to sell short. ugh.