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Gold/Mining/Energy : Tracer Petroleum (TCXXF)
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To: Hunter Trout who wrote (962)5/5/1999 2:32:00 PM
From: Knights Bridge  Read Replies (1) of 1261
 
It's been quite a while since I last posted to this site. Nice to see that it continues to spurn shareholder unrest and revolt. I no longer hold a position in the Company, but I have watched what's been going on from the back of the class. I see that the company is proposing another roll-back, reverse split -whatever you would like to call it - to the shareholders! It seems that everyone so far loves this idea!!!!

As an investor in Tracer from the past, and one who did not make any money on this investment, I am not too keen to revisit without news of new deals or more drilling activity in Indonesia, but I was curious about yesterday's news release and what it says about, "the Company considering a rights offering to the existing shareholders". If a current share holder is given one right per share, and an option to purchase new shares after the role back at a reduced price to the market, by exchanging those rights for "X" number of shares, would this not be somewhat positive - and I am trying to look past the negative of the roll-back - with respect to being able to average down from one's current position, and add to their holdings? I guess it would also put a little capital into the Company as well. If there is enough belief in what the Company is trying to ultimately achieve, then maybe this is a bit of an opportunity to current shareholders?

Comments from anyone??
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