Tracer Petroleum (TCXXF) Message Board

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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Florida Cracker who wrote (972)	5/5/1999 5:33:00 PM
From: drrobinson	of 1261

Cracker - I will give you a challenge: See if you can find me one oil company that has been delisted from NASDAQ for not meeting the minimum requirements, and then has gone on to be a success. I do not expect that you will have a very fruitful search. I think that we are probably agreed that retaining the NASDAQ listing is very important, and that the preferable route would have been for Tracer to report some positive corporate developments, which would help raise up the share price above the minimum requirement. Things are moving forward with developments in Iran, Indonesia, and elsewhere, but there are no guarantees that anything significant would happen soon enough to help the share price before the July 20th deadline set by NASDAQ. As such, the Board had to make the very difficult decision to recommend a further consolidation of the shares outstanding. I urge you, and the rest of the shareholders, to be very thoughtful before you vote to defeat the consolidation. I am of the strong opinion that Tracer will effectively go out of business if the consolidation is not approved, and Tracer is delisted from NASDAQ. Sincerely, DRR

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