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Gold/Mining/Energy : Tracer Petroleum (TCXXF) -- Ignore unavailable to you. Want to Upgrade?

To: kodiaker who wrote (1249)	3/5/2000 8:29:00 PM
From: James Strauss	Respond to of 1261

Kod: With Robinson plunking down his own money it hints at something very profitable down the road... Jim

To: kodiaker who wrote (1249)	3/8/2000 12:20:00 PM
From: James Strauss	Respond to of 1261

CORPORATE NEWS RELEASE ?? TRACER PETROLEUM CORPORATION ?? ?? NASD OTC BB: TCXXF ?? Dateline: Calgary, AB, Canada ?? Date: Tuesday, March 7, 2000 TRACER FURTHER EXTENDS AGREEMENT FOR PURSUIT OF PETROLEUM PROJECTS IN IRAN TRACER PETROLEUM COPRORATION (?Tracer? or the ?Company?) reports that the Association Agreement (the ?Agreement?) dated December 3, 1998, between Mullins Group (?Mullins?) and the Company has been extended until May 31, 2000. The original term of the Agreement expired on May 31, 1999, and was previously extended until November 30, 1999. A new subsidiary, Tracer Petroleum International (?TPI?), was established for the purpose of pursuing oil and gas opportunities in Iran and, as per the terms of the Agreement, the initial equity in TPI is owned as to 33.34% by Tracer, and 66.66% by Mullins. Tracer has the exclusive option to acquire the 66.66% interest in TPI from Mullins, for consideration based upon 15% of the total Net Present Value discounted at 15% (?NPV15?) of the petroleum project or projects acquired in Iran, as determined from proved and probable recoverable reserves as estimated by a competent independent engineering firm. This is subject to the project or projects having a minimum NPV15 value of US$20 million; Tracer will not be required to pay any consideration for any NPV15 value beyond US$100 million. Any shares to be issued by Tracer as consideration will be subject to approval by the regulatory authorities having jurisdiction, and will have a deemed value of US$2.00 per share. The maximum number of Tracer shares to be issued for the first project in Iran will be 6 million. To date, the National Iranian Oil Company has formally approved the financial and technical capability of Tracer to undertake a significant petroleum project in Iran. Furthermore, Tracer has identified a number of available petroleum projects in Iran which are commercially attractive. The Company is hopeful of being in a position to announce further positive developments in Iran in the very near future. On behalf of the Board of, TRACER PETROLEUM CORPORATION ?David Robinson" David Robinson President and CEO