Some of Us Have to Climb the Mountain with Panex CEO Robert Burr

Welcome to this episode of the Million Dollar Mastermind. I'm Larry Weddell. And before we get started, if you want to know exactly how to win again and again, go to Wydell on winning.com forward/webinar now to watch something I've put together for you. Now let's get going into this episode.

Of Million Dollar Mastermind and talking here with Robert. You know, it's unbelievable to hear his life story. President of Panax CEO and president of Panax oil exploration production company I'm really curious about that. That's. Obviously, you've had to explain that idea of you've got to have the blood to push your money out on the table. That's true. As you as a company, as a CEO, also as your investors, if they want to roll with you, they've got to have the blood, too.

Absolutely. And the investors is a unique deal. Like right now, we're having a good visit. I'm sort of sharing a little of my soul with you. That's who I am. I don't have a problem with that at all. I think investors or anybody. And I'll tell everybody, even in the reception we had down in New Orleans, we had, I don't know, a hundred folks in there having dinner. And I'm speaking, I said, when I get through talking, if you guys don't have that fuzzy feeling about Bob Burr and what I stand for, because I'll be honest with you, some folks love me and some folks, you know, they don't like me. Maybe, I don't know, but I don't care. I am what I am. And if you don't have that fuzzy feeling, keep your money. Because I don't deserve it. Because you have to have confidence in that guy. And this particular guy will give you everything he can give you and keep working. I work. I have a deal. Every letter I sent out to my partner, I say, we work for you. You don't work for us. So when anything you got on your mind or head or whatever, get on the damn phone and give me a call and we'll find an answer to it. Because I take that everything I have in life for my family and all my folks that I call my family, every materialistic value we have came from our partners. And if you don't, if you're not willing to go the extra mile or 50 miles or 5 million miles for your partner, you're less than who I am. Because I will. And I'll keep on. When you're asleep, I'm still walking Tall. And that's just how it is, buddy. I've got that engine that lets me do that, and I won't back up to anybody in the world as far as our responsibility to our people and what we do to make it work for them. So your folks out there in the listening audience, if you're interested in oil and gas, you need to be educated about oil and gas. You need to be feeling good about who you're dealing with. I can give you references. Like I say, married to the same lady all my life, 59 years. We have partners here with us for 30, 40 years. We just keep on rolling. The show down in New Orleans was just fantastic. People appreciate the honesty.

Well, talk about the fact of needing partners in your business or how partners can multiply the possibilities, what you can do. Because a lot of people want to own everything. Don't want to have people around poking their nose in their business and like to be left to themselves. But when you get these partnerships, doors, you know, partnerships maybe not work, may not work all the time, but there's a lot of times they can allow you to explode your possibilities, your reach, your contacts, and plus the leverage if they're investing with you. But talk about how you get your mind around bringing in partners into your business and how you got comfortable with that, as opposed to trying to be where pretty much this is all your own money. Because obviously you're successful. I mean, you could do a whole lot if you kept it inside, you and your brother and you and your family. But talk about your attitude about that.

Well, the bottom line, the reason companies sell stock is to get infusions of capital. And in our business, the drilling business, my partners for many years are my funder. And I generally do a third for a quarter deal where they pay for all of it. And I get carried for 25% of the deal. I do all the work. I drill the well, I find the prospects, we operate the wells, we administer to the wells, we do all that. My partners get what we call rocking chair money, like a check every month. And I pay monthly because most guys play quarterly. I don't. I pay monthly. I want them to get that check every month because I'm asking them for more money, and it's up to me to bring the right product. And I've got the best product in 47 years. I do not have the top product I have today because of the downturn in the prices, because of the availability of the product, and because of the intestinal fortitude we had putting our money out there in the black as a black in our industry and capitalizing on it. But folks, you know, they're looking for tax breaks. They can write to the government and pay them 100 grand, or they can send me that 100,000 and pay the government 60. They can save 35 or 40,000 right there in tax money. Well, if you give it to the government, we all know what they gonna do with it, right? I mean, that's a completely different subject. But then they're building a reserve income, and we just keep building that. And they'll have first rights on wells as we drill them. Each prospect has his own geological makeup. The reasons we're there, track records, they're.

All, I guess every project's different and they'll follow a different pattern. So that's why it's important that you have people with experience, with values that you. That's where the trust comes in. Talk about things that get you excited because you have to have as soon as you sit back. I'm sure people have asked you, why don't you retire? And what people who haven't ever won big don't understand is how much fun it is to win and how boring it is to just stop moving forward in your life when you've had a lifetime of achievement and adventure and meeting new people and going new places. Where all is life taken you. You talked about around the world. Where all his life taken you. In this last three or four or.

Five decades, I've been all over this here world of ours. I have been to Africa, the Serengeti. I've been to Europe. I've been to Switzerland. I mean, you name it. We love to spend time down in the Dominican Republic. We were in Belize at a big investment conference down there a month ago. And so we do a lot of traveling. But getting back to why you do things, why would you not do things?

There you go.

Was your life so boring that you were so tired of doing that thing that you didn't want to do it anymore? So you go retire. I think Einstein said the human is like riding a bicycle. As long as you pumping that thing, you keep your balance. You quit pumping, you fall off the bike.

Well, and also the thing is, with the experience, you develop leverage and you can make the same energy you did 40 years ago and now have, like you say, you got the best properties and opportunities you've ever had. But you did that by leveraging, staying on the attack. You can't be passive in life and win big. Like you said, you always have that Gut check when you're, you're moving forward, but when you're rolling the dice, it's always, I asked this a good friend of mine out in Aspen who has the biggest clothing store out there if, if it was ever, you know, does the risk, you know, ever go away? And she, you know, how much she's still risking, you know, now they're up to three stores, the most popular, biggest seller of a lot of different product line. And she said, everything's a risk. She basically shouted it when I asked her.

No, that's true. Everything's a risk. It's just, I don't know. You know, I just love playing this game we call life. Yeah. And, you know, when people get tired of playing this thing and they go into their shelter or wherever they go, a lot of them, A lot of them die young.

Explain this. Help me explain this, Robert. Okay. There are no shortcuts there. You know, there's millions of secrets. There are no shortcuts. You got to pay your price. You got to pay your dues. And there's no guarantee of success. Like when you, you know, people investing with you, you know, there's no guarantee of success. However you can with how you go about your business, you can continue to stack the odds of success in your favor and make it almost inevitable over time. Any particular one can go sad, but you can continue to go through your day with what you do, refine everything to where you're always stacking those. You can change the odds of success. You don't just have to take what comes to you and talk about the way you would explain that or how you would look at that.

Hey, listen, there's a lot of information online, but there aren't a lot of people who have actually done something. In my case, I've actually built a successful business, has accrued over $5 billion.

In assets under management, and has done.

Well even during trying times. Now, if you want to know exactly how I've done this, go to Whiteellumwinning.com webinar Now, I've compressed a decade of learning into five short weeks. Just for those of you who want to give yourself an incredible advantage and are tired of waiting and watching others move up.

Well, let me tell you another little story that you will enjoy going back to. I sold out to a major oil company back in 96, got my bucket full, and I don't, you know, I don't have to be here today having this podcast with you, right? I really don't have to do anything. I don't want to do right. By the grace of God, I'm financially able. But again, I was playing golf and I was thinking, my boys were down in our office, they were doing a deal. I'd forgotten more than they'll know in their life, probably about what we do for a living. We have 20 grandchildren. I have nine great grandchildren.

Congratulations.

I've been the senior club champion five straight years in my golf. And I really got embarrassed at that point. I said, I called myself a chicken blank. I said, here them boys are down there struggling and here you're playing golf every day. I said, you ought to be ashamed of yourself, Robert. And so I come off the golf course and I came straight to the office. I said, okay, guys, let's get ready. Old man put his helmet back on, we're going to crank up, we're going to get this done, and that's what we've done. And I'm more happy here. I was talking to one of my neighbors. I have two subdivisions here I'm doing on the side. One's got 350 lots in it. One's a very unique deal at my place has about 30. And one of the old men there is Nanny, probably one of the largest landowners in the state of Kentucky. He owned a huge feed deal off the coast of South Carolina where the ships came in and dumped the feed. I mean multi, multi. A wealthy guy, he walks every day. And I'm out hitting golf balls here about a month ago and he walked by and I walked over to him and I gave him a hug and I said, answer a question for me. Sure will, bud. I said, when does it happen that you don't wake up sometime during the night and a deal hits you in the head and you're like, oh God, I gotta do that deal. I said, when do I. When will I ever go to sleep and not. Not wake up like that? He said, well, this morning about 3:30, I woke up, said, damn, now if I sell that shopping center, I can buy four more properties. That's how you was born, stud. Keep on rolling. That's your life. So to answer your question, some folks are just excited. I'm excited, I love it. And you know, it doesn't. And all of it works. I would never, ever. I think the greatest heroes in our world are the fellows that show up at that plant every day for 40 years with that lunch bucket full of a couple of bologna sandwiches. They educate their children down at the City College or wherever it may be. They go to church, they got old Pickup with a bass painted on the side of the door, and they go fishing. They raise their kids with integrity and honor. Now, he didn't have to do climb that mountain that I did. He didn't have to do all that. He found peace in life in a different direction, which is perfect. That's success. That's beautiful. I needed to climb the mountain. That doesn't make it right. Damn sure doesn't make it wrong. But some of us have to climb the mountain. And that's what I've spent my life doing, is climbing that mountain. And I'm not at the top yet. I'm way up there. I've taken a bunch of hits going up, as we all will do. But through every bit of that, my savior, my higher power, has kept me charged with a positive look in life. We came in naked and we're going out naked. What we do in between is to fulfill the spiritual part of our life. And if we need to be in business or a vocation and we're climbers, then we need to have one that is exciting, challenging, not a gimme. Who wants a gimme? You work for it. You get through. You proud of it. You proud of seeing your partners? You proud? They hug you and they clap for you. They holler for you. When you speak, you can get them excited. Some of my people call me getting Bob ties not baptized. When I speak, some of them call it Bob Ties. I get fired up about it. I don't. I don't have a problem hugging you. Some folks, they're not. They're not mature enough, secure enough in their own bodies, spirits, to give you a hug. I taught my grandson how a hug. He come up and gave me a little hug. I said, come here, Mac. And I grabbed him and broke his back. I said, now that's a hug, boy. A hug is to share your spirit with someone. Not a casual deal. That's a special deal. And I try to hug as many folks as I can every day. And that keeps me right where I want to be humble. I want to be thankful to my partners. I won't let them know I work hard for them. All of that's real. That's not. You don't fake it till you're 75 years old, buddy. I mean, you can't, or you'd already crumpled up and gone on down the road. I'm not going anywhere. I think the good Lord's going to let me make a hundred. I really do. I hope he does anyway.

Yeah. And that may be setting yourself short Right there.

Well, it could be. I might. I might hit 125.

You might. It's like running. It's like that thing. You don't run, run to the finish line. You run through the finish line so far you may barrel right on through that thing. You take another 25 years to slow you down.

Yeah. Just keep on running. Keep on running.

Hey. Hey. Thanks for those final. You know, I was going to ask you to see if you had a final word to say as we wrap this up. I usually let people do that, but that's about as good a final word as anybody could come up with. Unless you have something else you want to say.

No, I just want to thank you for letting me share with you. Let me share from my heart with you. You probably hadn't had many guys on there like me. I lay it out there just the way where it's supposed to be laid. We have a website that I can't see.

Yeah. What is it? Yeah.

Adminanix Us.

Admin.

Panax us. Yeah. If any folks out there that hurt us get that fuzzy feeling.

Yeah.

And want to be educated about oil and gas.

And that's an email actually. Actually that's an email, right?

Yeah.

Adminex.

Yeah.

So you have a panex.com website if.

For your just regular company and all panics us.

Alpinex us.

Okay.

So to contact with some information or questions do admin@panex us.

That's right.

And what they.

What they will find is my boys and they're all my boys. I got four of them. Right. What they'll find is people that will respect them. We don't play any bull. We just educate them if they. If they can't use the tax. I deal strictly with accredited partners. REG 502 REG D506C. We go with the folks that I don't think this business is for anyone that's not in the financial position that needs tax write offs.

Right.

Tremendous advantage. But we are very diligent and we're not pushy people. I don't want you with me if you don't want to be with me. Life's too short for that.

Right.

That's how we conduct our business. But I want to thank you for letting me share today. It's been special and we look forward to a return visit in the near future.

Yeah. Robert, I really would love the chance to check in, you know a few months down the road and see how things are going and see what exciting things you guys are. Have discovered because we're always learning, you know, that's the whole thing. We're always learning. And the more you learn, the more you can learn because you just see what's happening out there. And when people talk, you know, you just. It just turns on circuits inside your brain. And so I'm kind of excited to see what, what's going to what kind of insights or what kind of new things are going to happen inside that head of yours.

Well, guess what? Let's hook up here when you're ready. I'm ready. I stay ready to keep from having to get ready.

All right. Hey, thanks so much, Robert. That's been fantastic. I've loved it. I've loved it, man.

Have a great weekend.

You, too. Goodbye.

If you enjoyed what you've heard and are dead serious about finding out for yourself exactly how this works and in the real world, I've taken the most valuable business lessons I've learned over 40 years and put them into something for you to watch. Go to whiteellawinning.com webinar now in order to move up as fast as possible, I'm Larry Wydell, and I run the Million Dollar Mastermind. Go, go, go.