Okay, there’s a couple of questions on TPL. I’m going to read them, and then I’m going to answer them in generalized ways, because some of the news is actually out and some of it I just can’t say, but two questions, are you able to work with the present trustees a bit of TPL? Well, and then secondarily it’s related question, will the corporate conversion happen?
Well to the latter, you might have observed the SEC filing on TPL. I believe it was Wednesday. Yesterday, you can see, so you can read it for yourselves, but the committee recommended the conversion, and you can see what’s going on there.
And I think that document answers the first question, because I think, I hope you could read that in the document. I thought everybody was working very well together or at least it strikes me that’s what the document should say, because I think it reads very well, but I leave it to you to judge for yourself. Anyway, the information is out there. You can read it and that’s the way it is. Okay, next question?
OK. I’ll take it.
Happy July. We start the month off with a letter from Murray Stahl appealing for clean governance. MS fighting back against the takeover narrative started by the Trustees.
Your press release and the examples you cite simply calls attention with clarity to the range of abuses possible within the current framework. It is for that reason that the other day I called upon you to provide each shareholder with an updated shareholder list to facilitate the formation of open discussion groups among shareholders with a view of developing a consensus regarding alternative governance structures.
Incidentally, I declined to join your exploratory committee since I would have been required to sign a confidentiality agreement regarding governance discussions. I wished to retain the liberty of open discourse and I hope that the shareholders who read this letter will find it to be a constructive effort to promote discussion.
Required listening if you are a TPL-head (or a BTC-head) like myself. Unfortunately, the transcription isn’t great. Ctrl+F is your friend here.
But you can’t forget that what you are sitting on, you are sitting on like the greatest hydrocarbon property in North America and you can even make a strong argument maybe even the world. The technology keeps getting better. This pipelines being constructed as gas being flared that in 11 month is not going to be flared and this is going to theirs is leases, there is water being sold is all kind of things happening except those variables don’t change in any appreciable way in a matter of week.
Call details if you can’t get it on SA.
Murray Stahl, Chairman and CEO, and Steven Bregman, President and CFO, will host a conference call on Thursday, January 17, 2019 at 4:15 p.m. ET. Only questions submitted to firstname.lastname@example.org before 1:00 p.m. on the day of the call will be considered. The call can be accessed by dialing 1-855-710-4181 (domestic toll free) or 334-323-0516 (international toll) and entering the following conference ID: 5792922. A replay will be available from 7:15 p.m. on the day of the teleconference until Thursday, November 15, 2018. To listen to the archived call, dial 1-888-203-1112 (domestic toll free) or 719-457-0820 (international toll) and enter conference ID number 5792922.