Cowboys, Jerry Jones, Exxon discussed on Smart Oil and Gas Radio Show

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Even warning that's a better word warning are non accredited listeners non accredited investors to avoid oil and gas because of the dry hole. You're going to get into oil as you taught us. There's going to be a dry hole. So let's talk a bit about dry holes. And why a dry hole or not striking oil is important to understand your thoughts. Eventually, you're going to have a dry hole. Yeah. Exxon talks about that in their annual reports all the time where they're like, Oh, we drilled. Ah, you know, 2 $300 million expression well looking for a new base in offshore Africa. Gives a dry hole, but we're going on to the next time you move on and you move on. Yeah, Obviously, Exxon drills a lot of great wells, but we learn from that we learned from people like Jerry Jones. NHL hot that moved on from dry holes. Good projects. Yeah, absolutely. Look at Jerry Jones. He made his mark by drilling. Just very plain. Gas wells. In southwest Arkansas. But a lot of them just over and over and over again. They were there wasn't anything super fancy or super exciting about it. Except that he drill Wells Additives portfolio, Addison's network, and then he used the whole thing to help our clout. He actually helped Argyll out by selling out Buying something for 18 million and selling it back to 180 million to help them out of there. Tiger pe, Ah contract problem. He's a helpful guy. He's a helpful guy. And, of course involved. The Cowboys became a billionaire. And then he got into other bases like You know, he's now in a big player in North Dakota. So he's a billion dollars oil company, but he started out by risking it all. Buying some laces from Markkula and starting to drill Mom and pop wells in southwest Arkansas. Talk to us about a scenario that we see quite often and that is and this is of the calls. We get. A number of the calls will be the scenario. Business owner entrepreneur position Sammy owns their own company. 5 10 years away from retiring. They're still making money. They're still paying a lot of taxes, right? We sit a scenario a lot talk about that because people get into oil and gas now, and it creates step revenue stream. By the time you get in what 56 10 projects will retain your period new project Every year. You've created quite a revenue stream in that period of time, and you saved a bunch on your taxes. Getting real time right now, while you're still in the high tax bracket. Yeah, you know. Ah, Ah work with an accountant out of Las Vegas who represented a family who I think that they made Church furniture in Pennsylvania. And then they invested in some wells, mainly in Utah and the Bluebell field and then a little bit in East Texas but mainly Bluebell field, And then they hit a gigantic one field. They were making so much money. They sold off their furniture building operation, and they just concentrated on that. But they got in every year and God never here and then you know, they they what they did is they drugged one well with company and then you know, they think they started 5% and then eventually got to where they were 50% of all the wells of this company drilled And they ended up with hundreds of wells and they were making so much money. They just dropped everything else and that became the centre of their family trust. That's Al Meadow story. He was doing another use insurance, I think worth, you.

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