CORPORATE NEWS RELEASE
TRACER PETROLEUM CORPORATION ??
OTC BB: TCXXF ?? Dateline: Calgary, AB, Canada
Date: Thursday, April 27, 2000
TRACER ENGAGES CREDIFINANCE SECURITIES; PROVIDES UPDATE ON IRAN
DEVELOPMENTS; ANNOUNCES DATE OF ANNUAL AND SPECIAL GENERAL MEETING
TRACER PETROLEUM CORPORATION (?Tracer? or the ?Company?) reports that the Company has
entered into an agreement with InterUnion Financial Corporation (OTC BB: IUFC) and its subsidiary,
Credifinance Securities Limited (?Credifinance?) of Toronto, Canada, whereby Credifinance will assist in
enhancing Tracer?s exposure with potential investors, will advise and assist Tracer with respect to its
acquisitions and financing plans, and will assist Tracer to obtain the financing necessary to achieve its goals.
Specifically, Credifinance will work with Tracer to determine the most effective means of financing Tracer?s
participation in the South Alibek project in Kazakhstan. Ryder Scott Company, independent engineers of
Houston, TX, and one of the industry?s leading petroleum consultants, has been retained to provide a reserve
analysis for the South Alibek Field, Kazakhstan.
InterUnion Financial Corporation is a business bank based in Palm Beach Florida. Its main activities are wealth
management through InterUnion Asset Management, which has about US$1.5 billion of assets under
administration and investment banking through Credifinance Securities, a member of the Canadian Investment
Dealers Association, the Toronto Stock Exchange and the Montreal Exchange, and is also a member of the
International Securities Market Association. Credifinance is a specialized boutique, which has established an
acknowledged reputation in research and financing small to medium size companies in select sectors such as
natural resources in Africa, the FSU and Central Asia.
In other developments, Tracer reports that it has now opened an office in Tehran in the Islamic Republic of Iran,
and has incorporated a new operating subsidiary in Iran called Tracer Petroleum Iran Limited for the purposes of
entering into contracts for the exploration and development of petroleum fields in Iran. Furthermore, the
Company?s Chairman, Mr. Larry Youell, and its CEO, Mr. David Robinson, were recently in Tehran for
meetings with representatives of the National Iranian Oil Company. Considerable progress was made towards
securing one or more contracts for Tracer in Iran. Further developments regarding the pursuit of oil and gas
development opportunities in Iran will be announced as soon as practicable.
Tracer would also like to report that it has set the date for the Annual and Special General Meeting of
Shareholders for June 29, 2000. The meeting will be held at 10:00am in the Company?s head office, located at
444 ? 5 th Avenue S.W., Suite 1510, Calgary, AB Canada.
On behalf of the Board of,
TRACER PETROLEUM CORPORATION
?David Robinson"
David Robinson, President and CEO
This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the
Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those
now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange
Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of
operations.
For more information please contact Mr. David Harrison, Corporate Secretary, at (403) 290-1676 at the Company's headquarters:
TRACER PETROLEUM CORPORATION, Suite #1510, 444 - 5 th Ave. S.W., Calgary, AB, T2P 2T8 Canada
Phone: (403) 290-1676 or Fax: (403) 264-5285, "e-mail" tracer@ultranet.ca or web site, www.hostec.com/tracer |
