This week on Mining Money, Jeremy Pate and Imran Khan of Swan Energy discuss the calm before the storm in regards to investments.
Jason Spiess: Thank you, gentlemen, for joining us this week on Mining Money, a weekly segment gaining popularity all over the interweb, especially overseas, I’m noticing. So that’s kind of interesting. I did want to ask this week about just actually careers and the oil and gas industry, and then I wanted to ask you guys about some fourth quarter stuff as well. Because I know a lot of times people are looking for ideas, either to invest, because otherwise they got to pay some sort of capital gains tax or not capital gains tax, but some sort of extra tax at the end of the year, if they don’t invest it. There’s all kinds of different tax incentives that are involved with the investing, uh, and rollovers and things like that. So, Jeremy, I’m glad you’re joining us this week because I know you like to handle those types of questions. Uh, Imran, talk to me a little bit about the career fair that you guys had. I’m glad that you guys did that, because the two things I wanted to ask you about was, one, what’s going on out there in the vibe of the workers, and number two, is the connection, you know, with the average folk and that sort of thing. These career fairs tend to be a good place for the oil and gas industry to connect with the average person and also within the industry too.
Imran Khan: Thank you so much for having us, Jason. Yeah, so, we did a career fair day a couple days ago. It was definitely different, I guess, during COVID than than what-what Iíve seen in the past. But, uh, you know, we-we did multiple sessions to kind of make sure that, uh, people were separated out and, uh, you know, we-we talked with, uh, quite a few different groups, some-some great potential folks. Um, a lot of what I saw was folks that were in oil and gas and other avenues of-of oil and gas kind of wanting to want to get into some of these other areas that we’re in with respect to the sales aspect of selling deals. Um, you know, a lot of, a lot of younger guys that, um, you knowó I had a guy that was from Exxon. There was, uh, there was a few people that were from Halliburton. Uh, a lot of folks that have a lot of good knowledge from oil and gas standpoint, uh, that-that may be, may be good from-from our perspective to talk with our partners and potential partners. I think, uh, that’s probably a-a key point. I know you-you mentioned a little bit about, uh, the, uh, investments and, uh, the-the fourth quarter. Right now, you know, people are getting geared up for taxes and all of that and, you know, a lot of folks that, you know, that-that are making 250, 300k and, uh, are paying a third of that in taxes. You know, if you, if you participate in, uh, general oil and gas avengers(?) where you’re actively participating, uh, all of the intangible costs that are associated with drilling, um, are written off the first year, so that’s really a big big deal there. Um, you know, so there’s potential for folks that are, uh, making investments with us to be able to, uh, write off a big portion of that. Um, you know, I know I said all of that but there’s a certain portion that’s intangible and certain that’s tangible that-that, uh, uh, gets written off there, and-and I think it’s important to be able to reflect on that. And, you know, in the, in the current times, a lot of folks have gone through some changes in how they’ve been doing, uh, their-their family economics and budgeting and things, and I think it can give them, uh, an opportunity to be able to, uh, make some good investments and, um, you know, kind of move forward, uh, from that standpoint and end the year with a nice bang.
Jason Spiess: I couldn’t agree more that peo...
