Tracer Petroleum (TCXXF) Message Board

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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Geneat who wrote (277)	8/23/1997 9:54:00 PM
From: James Strauss	of 1261

Tracer Has Potential.... >>>I am interested in knowing the exact basis for your statement that Tracer is "sitting on top of some very valuable oil reserves". Thanks in advance for your response.<<< ********************************** Geneat: Here is a snipit from their website... There has been much written about the "Oil Rich" surrounding areas... Perhaps Mohan or others have saved some of the older press releases... ....................... Corporate Profile Tracer Petroleum Corporation is an oil and gas exploration and production company with its operational headquarters in Jakarta, Indonesia and corporate headquarters in Vancouver, Canada. Its shares are quoted on the Vancouver and NASDAQ stock exchanges (Symbols TCP and TCXXF). At the present time Tracer is carrying out an exploration program on the North Tanjung Block production Sharing Contract in Kalimantan, Indonesia where it owns a 100% interest. Tracer also has a 4.25% interest in the Ogan Komering Block in Sumatra, Indonesia, which began production in late 1992, attaining over 15,000 barrels per day gross by the end of 1995. Corporate Objectives Develop a portfolio of high potential petroleum exploration properties in underexplored areas of Indonesia. Derive exploration funding by farming out interests in individual blocks and from revenue from production. Seek to acquire interests in Indonesian properties with cash flow generated from existing production but with upside exploration potential which can lead to profitable development and longer term growth prospects. Minimize risk by employing low cost exploration methods and use of joint venture partners to further reduce financial exposure. Mission Statement Management endeavors to build Tracer into an internationally recognized oil and gas operating and producing company in Indonesia, where their experience and relations enable them to identify prospects and negotiate agreements to the benefit of the Company, its shareholders and to the host country. Jim

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