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One, and welcome everybody to 
another smart money circle 

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update. 
I'm Adam Sarhan. 

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With me today is James Hill, 
who's the CEO of MCF Energy. 

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Jim, thank you so much for 
taking the time and coming on 

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the show today. 
Yes, good morning. 

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Thank you for taking the time to
interview me. 

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So Jim, I always like to ask, 
can you tell us a little about 

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your story and how you got to 
where you are today, please? 

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Oh, absolutely. 
Well, as you can tell by my Gray

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hair, I've been in the industry 
for a little while, actually 

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started with the US Geological 
Survey back in 1971 and went 

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through various major and minor 
oil companies during their 

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career until I finally ended up 
forming my own, my own company 

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in 1986, which primarily was 
focused on consulting to 

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companies also acquiring assets,
producing assets. 

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At that particular point in 
time, the price of energy was 

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very low and it was real hard to
to stay alive and and of course 

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that was a good time to buy, you
know, buy low, sell high. 

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And you know we went through a 
number of tough years with some 

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of the producing properties that
we had, but we survived and that

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actually ended up being vended 
into a company on the Canadian 

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Venture Exchange in kind of a 
reverse merger. 

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That was a way of of you know, 
raising capital and and and 

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getting into the public space. 
That worked out very well and we

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got taken over in a hostile 
takeover and I didn't realize at

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the point that banks have a 
deposit limit, not just a 

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withdrawal limit but a deposit 
limit, I had to go to the bank 

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twice. 
So that was a terrible day. 

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That was, that was a terrible 
day in any case. 

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Moving, moving on though, how I 
became involved with the the 

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people that were currently 
sponsoring MCF Energy is that 

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there was a company called 
Bankers Petroleum that had been 

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put together and at that time 
they had an asset in Albania. 

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And Albania is a country that 
was incredibly locked up because

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of the the government at the 
time, political situations and 

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very few people realize that the
largest one of the largest 

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onshore oil fields in Europe was
in Albania Oh. 

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Wow. 
And we had the concession, it 

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worked out. 
Again that worked out very, very

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well. 
We took the production from 600 

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barrels a day up to about 19,000
before it was finally purchased 

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out by the by the Chinese. 
From that point on, we had 

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actually made several 
discoveries. 

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One of them was in Oklahoma, 
which we butterflied off onto 

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what was called BNK Petroleum. 
And you know our focus was to 

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develop those assets that we 
found in Oklahoma. 

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And at the same time we started 
to explore in Europe because at 

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that point our focus was on 
shale gas. 

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I mean all companies at that 
time were playing shale gas. 

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It was, it was basically a zero 
risk proposition for investment 

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groups. 
Well, shale gas, you know at one

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time you know the planet was all
stuck together. 

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So you know shale is shale, you 
know, hey, Europe's got shale 

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Wahoo. 
So we went into Europe at that 

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point. 
That was about 12 years ago and 

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we had a very large concession 
holdings in Poland, Germany and 

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Spain. 
We couldn't really do much in 

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Germany and Spain at that point 
because of the political 

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environment and, you know, data 
requirements. 

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But we did get 6 wells drilled 
in Poland and actually found 

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shale gas in Poland. 
But because of some political 

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changes and some economic 
changes, we couldn't develop it.

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It took an additional billion 
dollars besides the 100 million 

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I threw at it to develop a shale
play. 

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And because of the changes in 
the Polish governmental rules, 

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we couldn't get a partner, so we
had had to drop that. 

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At that point, I decided that 
you know, the, the focus of the 

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company should be a lot more in 
what we had, which of course was

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in Oklahoma. 
So I actually retired from BNK 

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because I was, you know, not 
involved in international 

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exploration with BNK anymore and
went into retirement. 

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I wasn't real retirement. 
Like so many guys like me, you 

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never really retire. 
The idea was is I consulted to a

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number of companies in Europe, 
kind of kept my hand into what 

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was going on in the in the 
European scene. 

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So that when the Black Swan 
event happened, when Russia 

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invaded Ukraine, the same group 
of investors and money, money 

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venture people that bankers, 
petroleum and B&K both gave me a

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ring and said, hey look, you 
know this is a unique 

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opportunity. 
Europe is going to be starving 

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for gas. 
There is going to be a real 

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problem here that you know, LNG 
will help help solve, but it 

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won't, won't completely cure the
problem. 

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So at that point I came out of 
retirement and started to draw 

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on the the experience and the 
more importantly the people that

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I knew within Europe. 
Having worked in Europe for so 

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many years, I knew all the 
companies that were there. 

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I knew the great people. 
I also knew the bad people. 

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And so you know, we put together
a team of technical people that 

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I thought was was really, really
unique and skilled. 

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And also here in the United 
States, one of my major advisors

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was a geologist who actually 
went into machine learning and 

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AI in the remote sensing space. 
She actually helped the, the 

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software company develop this 
software package to review the 

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remote sensing data and extract 
those things that we can't see 

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with our eye. 
You know, a lot of the, a lot of

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the stuff that you know, we as 
geologists and geophysicists 

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have done, we see it. 
You know you you, you shoot the 

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remote sensing data, you see 
where to drill well, there's a 

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lot more information in the data
set and a machine learning pulls

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that out and and and Deborah, 
Deborah Zachary has had an 80% 

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success rate drilling in areas 
that I never would have drilled 

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in my eye. 
So you know this is, this is 

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really a breakthrough technology
and and don't get me wrong, more

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and more companies are utilizing
it, but this is one of the risk 

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mitigating factors that we apply
in going after our targets 

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because when we reviewed 20 
different projects in Europe, we

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selected two. 
And of those two we were looking

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specifically at a risk reward 
type of scenario. 

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I'm willing to accept more risk 
if the reward is there. 

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And of course, utilizing the 
technologies and the experience 

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of our people, we can 
significantly reduce the risk 

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over some of the other people. 
So this is, this is basically 

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how MCF came into into being. 
It's about a year old now. 

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We have 6 concessions in Europe 
at this point. 

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We purchased a private German 
company called Genexco, not only

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for the prospects that they had,
which were many, but also for 

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the operating team, because in 
doing that we had an operating 

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entity in Europe that was known 
by the ministry and more 

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importantly, they spoke German, 
right. 

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Right. 
And we're known by the Ministry,

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so you know we, we, we we kind 
of leaped ahead very rapidly at 

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that point. 
So yeah it it's it's been a it's

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been a good run. 
The other prospect is in Austria

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that one is a risk to reward 
play. 

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This thing is so big you can see
it from space. 

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The actual structure covers 100 
square kilometers and there was 

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a well drilled not very far away
that produced gas and condensate

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at what today would be very 
economic rates. 

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So I'm very excited about that 
one as well. 

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So, So yeah, that's kind of a 
kind of us in a nutshell at the 

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moment. 
I love that. 

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So that's a great story about 
how you got involved now with MC

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Energy specifically. 
Can you give us a overview about

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some of your competitive 
advantages, what exactly you do 

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and speak to that a little bit, 
please? 

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Well, the real competitive 
advantage we had is we were kind

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of first mover in the space. 
I mean we were, we were there, 

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you know, right after the 
invasion. 

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I mean the fact that I knew all 
the companies and I had 

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consulted for a number of those 
companies, you know, during the 

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years previous to the invasion, 
I knew kind of sort of who was 

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playing in the space. 
They were very willing to talk 

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to us. 
They gave us, you know, access 

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to their portfolios and data. 
And you know I brought together 

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the management team who had been
operating in Europe for over 30 

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years. 
You know these, you know, the 

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rich Richie has drilled wells 
all over Europe and has has been

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actively operating in, in you 
know, all over including 

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Ukraine, which by the way has 
has great possibilities. 

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I'm pretty sure the invasion was
related to the fact that there's

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a lot of energy resources in 
Ukraine. 

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Oh, wow, that's a really good 
point. 

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So yeah, that's a really 
powerful point. 

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OK, let's speak about you 
mentioned risk and reward. 

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I'm a very big believer in risk.
And my next question actually is

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how do you handle risk and what 
are some mistakes you see people

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make with respect to risk 
management? 

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Well, risk is something that 
that you know is always present,

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especially in the exploration 
space and in in balancing risk 

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to reward. 
Of course, you can't just let 

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the reward override the real 
risk of what you're looking at 

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here. 
So you have to do a very 

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detailed analysis on why do you 
think there's oil and gas here? 

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For instance, on the Austrian 
asset, you know, they it's a 

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huge structure, OK. 
It could it, it could contain, 

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you know, huge volumes of gas 
and when and condensate. 

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But on the other hand, how do I 
know there's gas there? 

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Well, you know, there was a well
drilled nearby that produced 

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gas. 
So that told me I had gas in the

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system. 
It also told me I had a 

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reservoir that could produce gas
at economic rates. 

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I had a seal, which is very 
important. 

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You know, if you don't have a 
cap on the bottle, you're not 

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going to have anything in the 
bottle, you know, so, So 

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everything that I needed to 
accumulate oil and gas including

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the gas was there. 
So the fact that this thing was 

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so big and had a limited data 
set associated with it because 

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there were no wells drilled on 
it, you know, that said, OK, the

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risk is huge. 
I've got everything I need and 

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not only that, but the dry hole 
cost on this thing is €3.8 

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million. 
Wait, sorry. 

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You said the risk is huge. 
You meant the reward is huge. 

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No, the reward is huge. 
The risk, yeah, yeah. 

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But in balancing the risk and 
the the thing that was critical 

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was that to test the play was 
less than €4,000,000 for a 

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potential half to one TCF of 
reserves. 

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So you know when you're looking 
at something that large, you 

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know I'm willing to roll the 
dice on it and also you know 

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you've got to you've got to 
balance your participation, you 

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don't want to blow your brains 
out by taking 100% of it wiping 

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out your treasury. 
So we we only, we only took 20% 

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of the deal for paying half of 
the well cost which was only 

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which was less than €4,000,000. 
So this was a great shot. 

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And then to balance that in the 
portfolio we went into the 

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German company Genexco. 
They had a proven gas field with

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you know 180 BCF of potential 
reserves there. 

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I think it's 180 BCF and it had 
three wells that proved that the

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gas was there. 
So you know bringing that to 

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market of course was the next 
problem which we looked at in 

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great detail and looked at the 
economics in in that. 

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In that analysis and in looking 
at the prospects after we bought

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Genexco, we realized that there 
was tremendous, tremendous 

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opportunities in some of the 
other areas that Genexco had 

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identified and they couldn't 
prosecute because they were a 

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small independent company. 
They didn't have the money. 

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Well, we brought it. 
So we've got Lek, which is a 

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major, major play for us right 
now. 

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Mobil drilled a well in 1983 
which they were looking oil, 

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they found gas, what a terrible 
thing. 

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And this well you know flowed at
at an extremely economic rate 

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and of course they, they 
abandoned it. 

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They drilled another well, they 
found oil. 

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It was less than their 
economics. 

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They abandoned it. 
As soon as that concession 

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became available, Genexco jumped
on it and that's part of our 

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portfolio. 
We also wired the 100 square 

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kilometers directly offsetting 
it, which this trend goes right 

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up into that. 
So we've got tremendous 

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opportunities looking at us in 
the future. 

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If I understand your answer 
properly, when you look at risk 

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and reward is that you want to 
see asymmetric return. 

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So small risk if you're wrong, 
big reward if you're right. 

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And the way that you make those 
decisions is by looking at the 

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almost the Tam, the total 
address of mark. 

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How big is this market for you 
if it hits and what is it 

227
00:13:57,520 --> 00:14:00,600
possible R in the ROI and then 
you're able to say, OK, if it 

228
00:14:00,600 --> 00:14:04,480
cost me one unit or $1.00 and I 
can possibly make 1000, then 

229
00:14:04,480 --> 00:14:06,160
sure, I'll take that trade, so 
to speak. 

230
00:14:06,360 --> 00:14:09,600
If it's $1.00, I can make $0.50 
and clearly I'm not going to do 

231
00:14:09,600 --> 00:14:10,960
it. 
Or 1:00 to 1:00 you won't even 

232
00:14:10,960 --> 00:14:12,960
do it. 
Is there a certain formula or 

233
00:14:13,120 --> 00:14:16,320
minimum threshold that you look 
at with respect to 1 unit of 

234
00:14:16,320 --> 00:14:20,280
risk versus how much reward like
5X10XA100X that you take? 

235
00:14:20,280 --> 00:14:22,240
Or is it just subjective and 
depending on the multiple 

236
00:14:22,240 --> 00:14:26,320
variables at play? 
The basic rule that I follow is 

237
00:14:26,320 --> 00:14:28,600
it has to be impactful to our 
investors. 

238
00:14:29,320 --> 00:14:32,600
In other words, for the outlay 
that we put out, it has to be 

239
00:14:32,600 --> 00:14:36,720
impactful to the share price and
to the actual viability of the 

240
00:14:36,720 --> 00:14:39,480
company. 
You know if it's if it's too 

241
00:14:39,480 --> 00:14:42,240
small, it's it's not worth our 
time and energy. 

242
00:14:42,240 --> 00:14:45,320
You know, I've got I've got some
of the best staff in the world. 

243
00:14:45,320 --> 00:14:49,000
I don't want them wasting their 
time on on itty bitty things, 

244
00:14:49,000 --> 00:14:51,680
put it that way. 
You know, it's got, it's got to 

245
00:14:51,680 --> 00:14:53,800
be impactful. 
Yeah, that's fantastic. 

246
00:14:53,800 --> 00:14:55,920
So, Jim, you've got a really 
great career and you've been 

247
00:14:55,920 --> 00:14:58,320
around now for decades doing 
this and it's extremely 

248
00:14:58,320 --> 00:15:00,680
successful at it. 
I love the deposit maximum, by 

249
00:15:00,680 --> 00:15:02,400
the way. 
I hope one day that I can get 

250
00:15:02,400 --> 00:15:05,440
there. 
What are some timeless lessons? 

251
00:15:06,560 --> 00:15:08,760
What are some timeless lessons 
you've learned along the way 

252
00:15:08,760 --> 00:15:11,760
that you'd like to share with 
the audience life, business 

253
00:15:11,760 --> 00:15:13,520
markets, investing anywhere you 
want to? 

254
00:15:15,280 --> 00:15:20,120
Go probably the the biggest one 
that I developed, because I've 

255
00:15:20,120 --> 00:15:23,680
gone through several periods of 
good times and bad times in this

256
00:15:23,680 --> 00:15:29,800
industry, is that you have to 
maintain that positive attitude 

257
00:15:29,800 --> 00:15:35,720
you cannot fall victim to. 
Oh, woe is me, because really 

258
00:15:35,960 --> 00:15:39,200
good times and bad times are 
really only a matter of 

259
00:15:39,200 --> 00:15:42,840
attitude. 
I mean during during the bad 

260
00:15:42,840 --> 00:15:46,640
times, we were able to pick up 
1700 acres on the north plunge 

261
00:15:46,640 --> 00:15:51,160
of an oil field that later on 
proved up 186 million barrels. 

262
00:15:51,680 --> 00:15:54,560
Wow. 
I mean, I mean, at the time got 

263
00:15:54,560 --> 00:15:57,720
it, it wasn't worth much. 
And of course, nobody saw the 

264
00:15:57,720 --> 00:16:00,560
potential. 
But you know, as the company, as

265
00:16:00,560 --> 00:16:03,440
prices got better and the 
company recovered, this is when 

266
00:16:03,440 --> 00:16:06,600
the hostile takeover came. 
You know, other people saw it 

267
00:16:06,600 --> 00:16:08,160
and they said, well, thank you 
for playing. 

268
00:16:08,360 --> 00:16:10,760
You know, here's money, You 
know, it's like I said, it 

269
00:16:10,760 --> 00:16:14,360
wasn't a bad day. 
But this is extremely important.

270
00:16:14,920 --> 00:16:18,440
And not only that, but but 
failure is not an option. 

271
00:16:19,040 --> 00:16:22,360
My previous partner kept this 
company together. 

272
00:16:23,400 --> 00:16:26,400
You know it despite the fact we 
should have gone bankrupt half a

273
00:16:26,400 --> 00:16:30,200
dozen times. 
You know, he worked it out. 

274
00:16:30,400 --> 00:16:32,880
You know, he worked with the 
creditors, he worked with the 

275
00:16:32,880 --> 00:16:36,040
service providers. 
You know, every month we'd get 

276
00:16:36,040 --> 00:16:40,920
the run check and we would call 
them, we all the creditors, and 

277
00:16:40,920 --> 00:16:44,600
say, well, OK, here's how much I
owe you, here's how much I can 

278
00:16:44,600 --> 00:16:47,520
pay you, and here's what I'm 
doing to get you paid. 

279
00:16:48,160 --> 00:16:51,520
Failure is not an option. 
And if you've got that attitude,

280
00:16:51,760 --> 00:16:54,040
you will succeed. 
I love that. 

281
00:16:54,040 --> 00:16:55,880
That is so powerful. 
It's almost like rain. 

282
00:16:56,200 --> 00:16:59,240
And take what you're saying 
about perspective, rain is 

283
00:16:59,240 --> 00:17:01,120
neither good or bad. 
If you're in a drought and the 

284
00:17:01,120 --> 00:17:03,320
farmers want to grow crops and 
and then all of a sudden it 

285
00:17:03,320 --> 00:17:05,359
rains, they're really it's it's 
a good thing. 

286
00:17:05,599 --> 00:17:07,920
If you're trying to go on 
vacation and suntan and it rains

287
00:17:07,920 --> 00:17:10,119
for the whole week and you have 
to stay indoors, it's a bad 

288
00:17:10,119 --> 00:17:12,000
thing. 
But it's it's just a matter of 

289
00:17:12,000 --> 00:17:13,800
mindset. 
It's your opinion if it's good 

290
00:17:13,800 --> 00:17:16,480
or bad and even if it's raining 
outside and you want it to not 

291
00:17:16,480 --> 00:17:18,280
rain, it still can be a good 
thing for you. 

292
00:17:18,520 --> 00:17:20,400
It all depends on your 
perspective and you control 

293
00:17:20,400 --> 00:17:22,480
that. 
That is so powerful and that fan

294
00:17:22,480 --> 00:17:25,160
is not an option. 
I love that No failure, failure,

295
00:17:25,160 --> 00:17:28,760
failure is not an option. 
I love that and and that that 

296
00:17:28,760 --> 00:17:30,120
is. 
That is the lesson that I 

297
00:17:30,120 --> 00:17:34,320
learned during during during 
that period of time when bad 

298
00:17:34,320 --> 00:17:36,680
times were actually the best of 
times. 

299
00:17:37,920 --> 00:17:39,920
You look back. 
Yeah, for sure. 

300
00:17:39,920 --> 00:17:41,160
You learned? 
Yeah, for sure. 

301
00:17:41,520 --> 00:17:44,240
So OK, next question. 
Timeless mistakes you've made 

302
00:17:44,240 --> 00:17:45,400
and or you've seen other people 
make. 

303
00:17:45,400 --> 00:17:49,960
And how do you avoid them? 
The biggest mistakes I've seen, 

304
00:17:49,960 --> 00:17:53,600
especially when I was working 
with major oil companies, was 

305
00:17:53,600 --> 00:17:56,480
the fact that they did not 
engage the communities or the 

306
00:17:56,480 --> 00:17:59,200
stakeholders when they moved in 
an area. 

307
00:18:00,160 --> 00:18:04,720
And this really generated, you 
know, it not just rancor against

308
00:18:04,720 --> 00:18:07,080
the company because they're 
coming in and they're cutting 

309
00:18:07,080 --> 00:18:09,480
pads and they're running roads 
and that sort of thing. 

310
00:18:10,360 --> 00:18:15,040
But it it, it really built an 
era of distrust, you know, and 

311
00:18:15,560 --> 00:18:20,560
anger in the in the past couple 
of projects that we've done in 

312
00:18:20,560 --> 00:18:25,400
Europe, we have gone way out of 
our way to engage the 

313
00:18:25,400 --> 00:18:29,480
communities, to engage the 
stakeholders and to be as 

314
00:18:29,480 --> 00:18:33,320
transparent as possible with 
with these people. 

315
00:18:33,720 --> 00:18:37,120
In Poland, we held community 
meetings, not just with the 

316
00:18:37,120 --> 00:18:40,080
mayor or, you know, the Fire 
Chief or whoever. 

317
00:18:40,280 --> 00:18:43,360
We had actual community 
gatherings where people could 

318
00:18:43,680 --> 00:18:48,240
express their questions because 
there's a basic underlying fear 

319
00:18:49,240 --> 00:18:54,560
that you know has been generated
and you've got to address that 

320
00:18:54,560 --> 00:18:56,000
fear. 
You've got to prove to these 

321
00:18:56,000 --> 00:19:01,200
people that you know, hey, we 
are going to be your neighbor, 

322
00:19:02,880 --> 00:19:05,040
member of your community and we 
are going to be around for a 

323
00:19:05,040 --> 00:19:09,200
long time and we want to be a 
positive member of your 

324
00:19:09,200 --> 00:19:13,520
community. 
And like you, we want to drink 

325
00:19:13,520 --> 00:19:15,680
clean water and breathe clean 
air. 

326
00:19:15,960 --> 00:19:20,160
Just OK. 
Now if we're going to be next 

327
00:19:20,160 --> 00:19:22,760
door, we're going to be living 
the same life that you are. 

328
00:19:23,360 --> 00:19:26,240
And if you could do that, you 
know, if you can, if you can 

329
00:19:26,240 --> 00:19:28,800
have that transparency. 
For instance, one of the things 

330
00:19:28,800 --> 00:19:32,000
we did was go around and sample 
every water well that surrounded

331
00:19:32,000 --> 00:19:40,320
our drill site and we made that 
public information before we 

332
00:19:40,320 --> 00:19:45,320
drilled, after we drilled and 
completed, we did exactly the 

333
00:19:45,320 --> 00:19:49,080
same thing, same wells if we 
could get at them and again made

334
00:19:49,080 --> 00:19:52,560
that information public to say, 
hey look, we are transparent. 

335
00:19:52,560 --> 00:19:54,600
If you've got a question that 
here it is. 

336
00:19:55,400 --> 00:20:00,080
You know we have preserved your 
environment and if you can and 

337
00:20:00,080 --> 00:20:02,600
be a positive member of the 
community, the community will be

338
00:20:02,600 --> 00:20:04,840
behind you. 
Yeah, that's so powerful. 

339
00:20:04,880 --> 00:20:07,280
That is so powerful. 
So instead of hiding, so to 

340
00:20:07,280 --> 00:20:09,280
speak, get in front of it. 
It's like what we did with the 

341
00:20:09,280 --> 00:20:10,600
creditors. 
It's like, hey, here's the 

342
00:20:10,600 --> 00:20:13,920
situation. 
Yeah, absolutely lovely. 

343
00:20:15,280 --> 00:20:19,360
And you face your problems. 
OK, Let's talk about leadership,

344
00:20:19,560 --> 00:20:20,400
Jim. 
What are some? 

345
00:20:20,400 --> 00:20:22,240
What makes a great leader, and 
what are some lessons you've 

346
00:20:22,240 --> 00:20:27,240
learned about leadership? 
Well, a great leader is is 

347
00:20:27,240 --> 00:20:32,480
somebody that that has the 
foresight to anticipate future 

348
00:20:32,480 --> 00:20:37,200
problems, but also the tenacity 
to work through those problems. 

349
00:20:38,560 --> 00:20:41,240
You know, you've got to have 
somebody who's who's willing to 

350
00:20:41,240 --> 00:20:45,280
step up and and face the bull 
with only that little red cloth 

351
00:20:45,280 --> 00:20:46,800
that you got in front of you, 
right. 

352
00:20:48,680 --> 00:20:52,720
And you know to not give up 
after the first or second pass. 

353
00:20:52,720 --> 00:20:56,480
I mean it's it's there you go 
there's the bull right there. 

354
00:20:58,040 --> 00:21:02,320
You know and and you know you 
know that is that is a person 

355
00:21:02,320 --> 00:21:06,360
that you can rely on to, to 
guide, to guide the ship. 

356
00:21:06,720 --> 00:21:11,040
But more importantly you've got 
to have a staff behind you. 

357
00:21:11,320 --> 00:21:16,320
And I do that will say, hey, you
know maybe we should do it this 

358
00:21:16,320 --> 00:21:19,360
way. 
You know, my way may not be the 

359
00:21:19,360 --> 00:21:23,000
right way and I'm perfectly 
aware of that and I'm very, very

360
00:21:23,000 --> 00:21:28,160
willing to listen to people 
who've been there before, you 

361
00:21:28,200 --> 00:21:29,920
know. 
But again, ultimately as the 

362
00:21:29,920 --> 00:21:33,040
leader, the decision realize you
know with with you and in your 

363
00:21:33,040 --> 00:21:36,240
hands because you know, I I'm 
not big on taking boats, but I 

364
00:21:36,240 --> 00:21:39,120
sure do listen to everybody. 
Yeah, that's really powerful. 

365
00:21:39,520 --> 00:21:41,560
Now let's talk about adversity 
and obstacles. 

366
00:21:41,560 --> 00:21:43,760
How do you handle adversity and 
what are some obstacles you've 

367
00:21:43,760 --> 00:21:48,080
had to overcome? 
Well, you know the the main 

368
00:21:48,200 --> 00:21:52,040
obstacles are are you know in at
least in Europe have been the 

369
00:21:52,040 --> 00:21:57,000
ministries and whatnot and ten 
years ago, 12 years ago it was 

370
00:21:57,040 --> 00:21:59,320
extremely difficult to get 
anything done. 

371
00:21:59,320 --> 00:22:03,960
It would take you years to get a
permit to do, to do anything. 

372
00:22:05,200 --> 00:22:07,960
The company that we're partnered
with in Austria just got a well 

373
00:22:07,960 --> 00:22:09,720
drilled and completed in six 
months. 

374
00:22:10,120 --> 00:22:14,120
Oh, wow. 
You know, the attitude of Europe

375
00:22:14,240 --> 00:22:19,160
finally has changed. 
The EU has declared natural gas 

376
00:22:19,160 --> 00:22:25,560
green, renewable and a 
transition fuel to the 

377
00:22:25,680 --> 00:22:28,880
transition to a carbon free 
world, which it is. 

378
00:22:28,880 --> 00:22:34,120
I mean there is no way you can 
lay out enough solar panels or 

379
00:22:34,120 --> 00:22:39,360
enough, you know, wind farms to 
meet the energy demand and make 

380
00:22:39,360 --> 00:22:42,200
sure that the grid which is 
another real problem that people

381
00:22:42,200 --> 00:22:45,760
don't realize is that you have 
to have the grid to carry that 

382
00:22:45,760 --> 00:22:47,840
power, you know, into the 
cities. 

383
00:22:48,320 --> 00:22:51,360
And of course when the sunshine 
and the wind doesn't blow, you 

384
00:22:51,360 --> 00:22:54,600
know, you've got to have a, have
a have a backup power And and 

385
00:22:54,600 --> 00:22:58,160
natural gas is perfect for that 
plus the fact that natural gas 

386
00:22:58,160 --> 00:23:03,720
is very much a, a, an industrial
fuel and a a base for Petro 

387
00:23:03,720 --> 00:23:06,160
chemicals. 
So you're always going to have a

388
00:23:06,160 --> 00:23:09,160
need, need for that. 
So that's one of the things that

389
00:23:09,160 --> 00:23:12,120
that you can't really control, 
but it's turning more in our 

390
00:23:12,120 --> 00:23:15,520
direction and of course the 
others is just public perception

391
00:23:15,520 --> 00:23:18,400
and and I think I already 
addressed that by saying we we 

392
00:23:18,400 --> 00:23:21,000
try and engage the communities. 
Excellent. 

393
00:23:21,000 --> 00:23:22,760
And then let's talk about 
adversity, though. 

394
00:23:23,080 --> 00:23:25,640
How do you handle it? 
Let's say something bad happens.

395
00:23:25,800 --> 00:23:27,600
I noticed you mentioned earlier 
the optimism. 

396
00:23:27,600 --> 00:23:29,960
I love that and having the 
tenacity to work through your 

397
00:23:29,960 --> 00:23:31,360
problems, getting in front of 
your problems. 

398
00:23:31,360 --> 00:23:32,880
These are all timeless lessons 
you've shared. 

399
00:23:33,240 --> 00:23:35,920
What happens when things go 
wrong or, quote, UN quote bad? 

400
00:23:36,280 --> 00:23:38,560
In addition to changing your 
mindset, how do you handle that 

401
00:23:38,560 --> 00:23:40,120
adversity? 
And what advice would you give 

402
00:23:40,120 --> 00:23:42,600
to other people that might be 
struggling or going through 

403
00:23:42,600 --> 00:23:46,640
tough times? 
Well, again, the idea is to not 

404
00:23:46,640 --> 00:23:49,120
let it overwhelm you, which is 
which? 

405
00:23:49,120 --> 00:23:53,880
Which in some cases it certainly
tries and staff. 

406
00:23:54,600 --> 00:23:58,040
You know, I mean, let's face it,
a Black Swan event is something 

407
00:23:58,040 --> 00:24:00,840
that that occurs very rarely and
it's totally unpredictable. 

408
00:24:01,280 --> 00:24:05,440
But the idea is, is that, you 
know, in in in working through 

409
00:24:05,440 --> 00:24:07,840
the problem, there are always 
solutions. 

410
00:24:08,440 --> 00:24:11,360
It's when we didn't have enough 
money to pay the creditors. 

411
00:24:11,360 --> 00:24:13,120
What do you do? 
You call the creditors. 

412
00:24:13,320 --> 00:24:15,840
Exactly. 
Through the problem, you know 

413
00:24:15,840 --> 00:24:20,080
you find the solution and you 
know if you've got a good team 

414
00:24:20,080 --> 00:24:23,320
and tenacity, you will work 
through that problem. 

415
00:24:23,680 --> 00:24:25,720
Yeah, that's so powerful. 
Beautiful. 

416
00:24:26,120 --> 00:24:27,800
OK. 
Jim, final question for you, 

417
00:24:27,800 --> 00:24:30,200
what is the best piece of advice
you'd like to share with the 

418
00:24:30,200 --> 00:24:31,960
audience or give your 30 year 
old self? 

419
00:24:34,360 --> 00:24:40,000
Well, again, you know, never, 
never fall victim to negative 

420
00:24:40,000 --> 00:24:42,760
thoughts. 
You know, there's always a 

421
00:24:42,760 --> 00:24:46,360
silver lining to the cloud and 
you never, you never let the 

422
00:24:46,360 --> 00:24:48,360
clouds get in the way of the 
silver lining. 

423
00:24:48,840 --> 00:24:51,760
You know, when there's, when 
there's, you know, an event that

424
00:24:51,760 --> 00:24:55,560
happens, you say, OK, you know, 
what's the positive to this 

425
00:24:55,560 --> 00:24:58,320
because there's always a 
positive somebody, somebody's 

426
00:24:58,320 --> 00:25:00,120
always on the right side of the 
equation. 

427
00:25:01,040 --> 00:25:05,320
And #2, as an investor, you have
to look very closely at the 

428
00:25:05,320 --> 00:25:09,520
management team, you know and 
and not not just the the, the, 

429
00:25:09,760 --> 00:25:12,600
the Board of Directors and and 
whatnot, which by the way, I've 

430
00:25:12,600 --> 00:25:15,080
got an exceptional Board of 
directors, but also the 

431
00:25:15,080 --> 00:25:17,440
technical team behind them. 
Who are they? 

432
00:25:17,480 --> 00:25:20,800
What's their experience level, 
what's their success level? 

433
00:25:21,520 --> 00:25:26,000
And also, when you're investing 
in micro cap companies, never, 

434
00:25:26,280 --> 00:25:30,160
never invest more in your 
portfolio than you are prepared 

435
00:25:30,160 --> 00:25:34,000
to lose, right? 
This is something I've always 

436
00:25:34,000 --> 00:25:36,840
told people you know. 
Yes, this is going to be a great

437
00:25:36,840 --> 00:25:41,320
project, but you never want to 
put in more money than you're 

438
00:25:41,320 --> 00:25:45,360
prepared to lose. 
Yes, you could get a 100 return 

439
00:25:45,360 --> 00:25:50,640
on this, and again, one good one
pays for a lot of bad ones, but 

440
00:25:50,640 --> 00:25:54,040
on the other hand, you've got to
be invested in enough in enough 

441
00:25:54,040 --> 00:25:56,640
projects to get that one or two 
good ones. 

442
00:25:57,520 --> 00:26:00,480
So. 
The idea is, again, it's like 

443
00:26:00,480 --> 00:26:03,440
what we do is you blend your 
risk, you blend your risk to the

444
00:26:03,440 --> 00:26:05,360
report. 
Love it. 

445
00:26:05,680 --> 00:26:07,400
Well, Jim, thank you so much for
coming on the show. 

446
00:26:07,400 --> 00:26:11,240
People can learn more by going 
to mcfenergy.com. 

447
00:26:11,240 --> 00:26:13,280
Is that correct? 
That's correct. 

448
00:26:13,280 --> 00:26:14,760
Yeah. 
We've got our corporate 

449
00:26:14,840 --> 00:26:18,760
presentation there and our 
Investor Relations team is there

450
00:26:18,760 --> 00:26:21,200
to answer any questions that 
anybody might have. 

451
00:26:21,640 --> 00:26:22,800
We love it. 
Well, thank you, Jim, and 

452
00:26:22,800 --> 00:26:24,000
hopefully we'll have you on 
again soon. 

453
00:26:24,000 --> 00:26:25,760
This is fantastic. 
Thank you very. 

454
00:26:25,760 --> 00:26:27,040
Much. 
I very much enjoyed it. 

455
00:26:27,040 --> 00:26:27,600
Take Care now.