Thanks, for the picture!
Thanks for the updates. Keep em coming! Feels like Texas Hold “Em. We had the flop betting, turn and river. Now it’s time for the showdown…
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Real leaders show up to face questions. TPL management are acting like crooks in a desperate, doomed cover up.
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we need an update. What happened at the meeting?
On Wed, May 22, 2019 at 10:04 AM The Texas Pacific Land Trust Investor wrote:
> tpltblogger posted: “” >
this was totally amazing…..about 65- 70 shareholders…some traveling from afair….one from London, L.A., Bahamas, etc. The General Agents and two trustees canceled the meeting room reservation and did not come to 2100 McKinney. A few minutes prior to 10 AM Eric Oliver, Jay Kesslen( from HK) and others improvised and obtained a meeting room on the 5Th Floor….otherwise we would have all been standing in the lobby. This really shows what General Agents think of the shareholders.
There were 3.7 Million shares represented at the meeting. A great turnout.
Even though the general Agents and Trustees refused to meet with us they had no problem sending their bulldog attorney to disrupt the meeting
Eric Oliver held the meeting. He made very interesting points…..
-The future of TPL is very bright.
– Permian has 40 Millin barrels of oil per square mile
– At this point in time, only 10% of the oil has been recovered
– Delaware Basin is the most valuable property in the Permian
– In fact, Delaware is the most valuable land on the Planet
– Delaware Basin has the potential to generate $4.3 Trillion in Revenue ( at today’s prices)
-TPL is the largest landowner in the Delaware Basin….so the extremely bright future
Eric Oliver is a total wealth of knowledge of oil&gas and the Permian. He would represent the shareholders in an excellent manner. I was very impressed and talked to him at length after the meeting. One key point he is a graduate of Abilene Christian University and has been instrumental in the University owing TPL shares. Currently, they hold 10 percent of the outstanding shares.
Also, each of his children owns shares…so basically the entire family. It is very important to him that all of these investments are managed in a prudent manner.
Above are the notes to yesterday’s meeting. I was seating in the second row. Directly in front of Eric. The meeting began very intense. The General Agents and two trustees had no respect for shareholders who traveled long distances to hear about their company. But they certainly wanted to disrupt the meeting by sending their $500 an hour lawyer. An what is truly sad…..we the shareholders paid for her.
Eric Oliver did a wonderful job and is a great asset.
Excellent recap Dave. Thank you!
One correction. ACU owns 56,000 shares….not 10 percent. My mistake.
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