Eric Oliver, Video #2

Video on Vimeo

EO hits the following points:

-Vote the white card if you intend to vote FOR him. Hits the point made here yesterday.

-Not running for day to day executive leadership. Running for oversight in the form of 1 of 3 Trustee positions.

-Takes issue with the 2018 NPRI sale to CVX and the surface acreage sale to WPX. Makes the case that both sales look short sighted from a strategic perspective.

-Wonders why former Chief David Peterson did a water sale deal with an entity that ended up employing him after his resignation from TPL.

Hits home on the need for both 1) proper oversight and 2) the strategic thinking of an experienced portfolio manager.

The attractive marginal trade available to a portfolio today might be antithetical to the portfolio strategy of tomorrow.

Lastly, I think of the quote below often. Hits the Peterson situation well. How much did he own?

Show me the incentive and I will show you the outcome. – Charlie Munger

While I have you, was it a signaling error for none of the crew (Glover, Packer, Barry, Norris) to lift sub-units at the end of 1Q? Was thinking about this on a long drive today. Too expensive? Not bullish? What’s the reason? If it’s regulatory, I’d love to know so I can be corrected.

SEC filing of transcript

4 thoughts on “Eric Oliver, Video #2

  1. Can’t say how great it is to see a face and thesis by someone regarding tpl (with the potential to be a trustee). Where is the communication from current trustees or management regarding these sales and how they benefit tpl? Made me think why don’t Ty Glover and Robert Packer who made millions last year explain these sales and the startegy they have for the company going forward?

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  2. Exactly. I have to say I am disgusted with current management’s silence on so many things. Looking at these videos that Eric Oliver made are simple, short and informative. Why cant current management give us the subshare holders some confidence in their decisions? The silence is deafening.

    I deserve more than mere soundbytes and slogans.

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  3. Can not imagine how a shareholder would not vote for Eric. Like in realestate owners take much better care of their property than non-owners. This situation is even worse because the managers can take as much of the owners cash flow as they want,without having to get approval from the owners. Why would any rationale shareholder not vote for Eric?

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