Until you are underwhelmed in one way or another by the Trustees. How will you celebrate?
Update: 7:30am EST on 3/6 has come and gone without a press release. Guess we’re taking this to the wire.
17 thoughts on “24 Hours”
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The Texas Pacific Land Trust Investor 
I’m not impressed by anyone involved as a trustee, manager, or committee member tbh.
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Some news on buybacks.
Today I contacted Chris (TPL I.R.) to know why any single share are being repurchased since half 2019.
The SEC counsel advised that share repurchases should be halted until conversion committee get a decision, that should be made in ‘the coming weeks’ (we know that maybe we are going to get info tomorrow morning).
Then, share repurchase restriction is going to be released.
Goods news to me but share price is falling like all the entire market.
Also I’m surprised with this quickly response.
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Good to know Daniel. That is great news. I wonder how a conversion will be impacted with buybacks…
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Inching ever closer to the magical $400
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The stock shouldn’t be immune to selling off during the fear of a pandemic. That’s fine and understandable. What is reprehensible is the lack of a third Trustee for over 1 year when one was clearly elected.
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That’s exactly it. One was elected and the Trust covenants are being ignored. FRUSTRATING as all hell.
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It’s even worse that Cook is on that committee. That’s the biggest crime of all.
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24 hours for the second amendment for another extension?!?! I’m not getting my hopes up for tomorrow. #tplcorporation come soon please!
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You called it!
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Unfortunately. Wish I was wrong.
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Howard – Should we just call you Nancy Negative?
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Is it being negative to be right? Their customers are heavily levered, may have to cut capex, and even before that, TPL trades at a high multiple.
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Howard – right in the short-term and the long-term are two different things. Best of luck
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I think this is more of a macro issue although I would like to send the current trustees packing. Oil is low, natgas is flared or negative in some cases. Natgas liquids that are very important in the delaware are in the tank. Apache has just given up on alpine high for awhile. Exxon although not a big customer for tpl is taking their foot off the pedal a bit. Plus all the ESG issues. It is a house of horrors for any hydrocarbon investor. ….
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lets just say your cost basis is 400 /16 = 4% and only 7% developed, rather own this than a 30 year @1,31% Oh yeah maybe double again next year. on a resource they may not want but must have, especially in a war
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This is so lame:
”
On March 6, 2020, the Trust and the Investor Group entered into the Second Amendment to Settlement Agreement (the “Second Amendment”), which became effective as of the same date. The Second Amendment provides that the Decision Period shall extend through March 20, 2020.”
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Sounds like the trustees are trying to entrench themselves. Classified board, etc.
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