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

To: virginijus poshkus who wrote (468)	2/22/1998 6:54:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 1261

There's Oil Down There... >>>James, buy a couple of hundred thousand shares, attract some interest. the paucity of news is very alarming. what are we doing? sitting on our ass while other companies take advantage of elephant situations. no j/v, no exploration, no drilling, no news. look at red sea oil 50 cents to 3 bucks, big find in libya. gentry getting set to drill in africa. upton hitting it big in canada. and we are gathering moss.<<< ********************************************************************** Vargas: The current political and Financial unrest in Indonesia is currently weighing down oil exploration efforts... As that situation improves, so will the Tracer exploration activities... Jim

To: virginijus poshkus who wrote (468)	2/24/1998 3:33:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 1261

News... CORPORATE NEWS RELEASE TRACER PETROLEUM CORPORATION NASDAQ Symbol: TCXXF TCXWF Dateline: Vancouver, B.C. Canada VSE Symbol: TCP Date: 24 February 1998 Tracer Gas Power Study Results Positive, Budget Approved Tracer Petroleum Corporation has received results from a pre-feasibility study commissioned from Sinclair Knight Merz, an independent, certified Australian engineering and design firm. The purpose of the engineering study was to determine the potential of economic development of the gas resources discovered at the Ngurit gas field, via power generation. On the basis of the positive results of the study, well work is planned to begin by the second quarter including the drilling of an appraisal well on the Ngurit structure, and re-entry and fracture stimulation of the discovery well Ngurit-1. The appraisal well location is updip and in the same reservoir as Ngurit-1. No other known competitive supplier of fuel gas for power generation exists in this area of the provinces of South and Central Kalimantan. Existing electrical supply is insufficient to meet local demand. Tracer's operating subsidiary PerminTracer Petroleum Ltd. has applied for and received approval from Pertamina for the 1998 budget for this work program. 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. On behalf of the Board of, TRACER PETROLEUM CORPORATION "Steve Jacobs" S.T. Jacobs Chief Executive Officer * The Vancouver Stock Exchange has neither approved nor disapproved the content of this release. * For more information please contact Mr. Ed Mowatt or Mr. Craig Doctor at the Company's headquarters: TRACER PETROLEUM CORPORATION, Suite #510-701 West Georgia St., Vancouver, B.C., V7Y 1G5 Canada Phone: (604) 682-7507 or Fax: (604) 682-0217 Jim