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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Dave K who wrote (1230)	11/15/1999 2:35:00 PM
From: Saracen	Read Replies (1) of 1261

In line with the Shell news, please check out the following news release: biz.yahoo.com Look especially at the part about Elf and Bow Valley spending $300 million to develop an offshore field in Iran. In that deal, Bow Valley went in and negotiated the deal; next, they brought in Elf who are putting up all of the development capital in return for something like an 80% interest in the project. This is exactly the sort of deal that I expect Tracer to do. That is, negotiate the deal with the Iranian government, for 100% of the project, and then turn around and give up 75 - 80% of the project to a major oil company, in return for the major putting up 100% of the capital. And there are numerous majors looking for good projects in Iran. As usual in business, the reason that Tracer can get this done is because of WHO they know, not WHAT they know. Sarrie

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