Other People's Money. The Banks, The Government And Dome

PETER FOSTER

Publication: Collins, 1983, Toronto

First edition. 8vo. Black cloth, titles stamped in gold gilt on the spine, [14], 15 - 286 [4] pp., acknowledgments, appendices, index. The author chronicles the Dome Petroleum Company in which he conducted more than a hundred personal interviews with the leading players in New York, Toronto, Montreal, Ottawa, Calgary, Edmonton and Vancouver. Dome Petroleum attempted a massive exploration and acquisition campaign in the early 1980s, financed largely with debt and external capital. Despite inflated valuations and speculative optimism, Dome struggled with mounting debt repayments and faltering oil production ... highlighting the perils of funding speculative ventures with "other people’s money." Dome's lofty ambitions clash with reality. As revenues lag and debt levels surge, the company nears the world's largest potential corporate bankruptcy of the time. The debt is still being realized today. Inked stamp of Austin Exploration Ltd. on front and rear pastedown sheets, former owner's inked name and address on the front fly leaf, three tiny ink marks on the front fly leaf, else a near fine copy in dust jacket.