JR's Asain Oil Wells deal

[Freddie1980]

I've been watching the rerun of Dallas on CBS Drama for the last month or so and I think its season 3 just before JR gets shot where JR learns about the a political coup in the country where his new oil wells and hastily sells 75% oils well leases to the cartel for $10m a point coining Ewing oil a cool $750m (after which the coup is successful and the oil wells are nationalised and the leases are worthless). Now fast forward a few episodes JR is in hospital and Jock agrees to let Bobby run Ewing Oil. One of the first things Bobby does is buy a oil refinery for $100m but has to sell Ewing assets to raise the capital and later on he's panicking about a $12m payment he needs to make in order to go in on a deal with cartel for a new oil field (during this time line he has a falling out with Jock when Jock pulled out $10m for a development deal with some old git called Punk Anderson).

Now I think I missed an episode because I don't understand why Bobby is so short on cash when JR has sold off the wells for $750m just a few episodes earlier. Does anyone know what the deal here is? Thank you.

[gold canyon]

Because JR purchased east coast gas fields for $650 million immediately after selling 75 percent of Ewing Oil's Asian holdings. Bobby used up most of the company's cash reserves (approximately $100 million) when he purchased the refinery. Remember, the the $100 million Bobby used to purchase the refinery was not an outright purchase; he still needed to bore money to finalize the deal.

[Freddie1980]

Because JR purchased east coast gas fields for $650 million immediately after selling 75 percent of Ewing Oil's Asian holdings. Bobby used up most of the company's cash reserves (approximately $100 million) when he purchased the refinery. Remember, the the $100 million Bobby used to purchase the refinery was not an outright purchase; he still needed to bore money to finalize the deal.

Really? I thought the east coast gas fields was just a cover story as to why he wanted to sell it in such a hurry I don't remember him talking any actually purchasing the land. Thank you.

[gold canyon]

Really? I thought the east coast gas fields was just a cover story as to why he wanted to sell it in such a hurry I don't remember him talking any actually purchasing the land. Thank you.

It was JR's "rationale" to the cartel members and then to his father and brother. Remember in House Divided, JR tells Bobby in Jock's presence: "Well a couple of days ago, I had a chance to buy into some east coast gas fields and you know, those old boys just wouldn't speak to me unless I had cash in my hands." Then in the 80/82 season, Bobby, now president of EO, is going over Ewing accounts with the EO controller (I think that's what he was) reviews EO's cash position: "This $750 million represents the resent sale of the asian wells. $650 million represents the resent purchase of the east coast gas fields." Then Bobby asks what's the bottom line. The reply is, "About $100 million." (BTW, these are not exact quotes, but they're close... it's been a while since I've watched the episode.) I believe this occurred when Bobby was reviewing data when he was contemplating purchasing the refinery.)

[MrsSuperman93]

It wasn't that they didn't have the money for Bobby's deal.
He needed liquid capital (cash) and Ewing Oil had it all tied up in other deals.