100000 shares traded this morning
TRACER PETROLEUM CORPORATION
NASDAQ Symbol: TCXXF TCXWF
Dateline: Vancouver, B.C. Canada
VSE Symbol: TCP
Date: Tuesday, April 8, 1997
Comments by Chief Executive Officer, Mr. Steve Jacobs
In response to numerous inquiries from our shareholders, Tracer would like to announce that the effects of
recent gold mining events in Indonesia on other Canadian based Indonesian resource operators, especially oil
and gas companies, is unfortunate. We must say that these events have no bearing on Pertamina, Tracer, or our
prospects in Indonesia. Oil and gas in Indonesia is a mature, well understood industry with clear regulations
and participation mechanisms. We welcome the new scrutiny being given to resource companies, and are strong
in our conviction that not only will Tracer stand up well in comparison to other companies in this sector, but
that Tracer's focus on Indonesia will prove rewarding for shareholders with true value from real assets.
Tracer continues to discuss potential partnership with interested parties both on the North Tanjung exploration
block and in several select producing/development opportunities in Indonesia. With our experience and
expertise in Indonesia we have a distinct and competitive advantage in the ability to accurately value such
opportunities.
On behalf of the Board of, |
