Tracer Petroleum (TCXXF) Message Board

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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Peter G. Troyan who wrote (1076)	5/11/1999 5:10:00 PM
From: loanshark99	of 1261

Interesting. For these insiders to make $ on a 4 million share stock should be a snap. I believe Mr. Robinson has the ability to raise $ and do deals without greatly diluting the stock. Now at 7/16. How low will it go? What if his friends and he leave and do a deal in Iran somewhere else? How would shareholders of TCXXF stand legally? Also, Mr. Robinson mentioned an example of an oil company that was traded on Nasdaq by the name of TransGlobe Energy(TGLEF). As he stated, the company did try to get low cost US production to go along with high impact Yemen concessions. They blew $5 million chasing Montana sand and came out with a little over 100 barrels per day. They could have spent that $5 million on Yemen and come out with much larger percentages of ownership than they currently have. They have granted shareholders a rights offering that was well received to raise enough money to continue drilling in Yemen. But, the stock has slid to .22 cents and now has 28 million shares out. I'm sure that any mention of a rollback there would be met with resistance just like here.

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