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

To: Peter G. Troyan who wrote (585)	4/23/1998 10:55:00 PM
From: P_Dalton	Read Replies (3) \| Respond to of 1261

TRACER ANNOUNCES SHUTDOWN, GOES INTO CHAPTER 11 When I read through the various posts on this thread, I get the feeling this may be what some posters would like to see so they can say, I told you so! Well the headline is not true, but it can be shortly. Just wanted to get your attention. It is absolutely essential that the message you send to management right now is loud and clear. Do you support them or not? With the vote at the May 22nd general annual meeting, Tracer's fate will be decided. How can that be you ask? Simple. If the rollback doesn't occur, Tracer is doomed......period. Some of you have seen my posts over the last month. Review them and you will see I have the best interest of this company at heart. I have been a lurker for a long time, and a shareholder for a very looooooong time. Check my past posts and you will see I was highly suspicious of the new director David Robinson. I asked questions on this thread, Arakis's and Odyssey's threads and received little or no responses. I did days of research. I reported here in one message, the companies I found Mr. Robingson had been associated with. (I did find he had been a director with Delgratia Mining) Have you heard of Bre-x? Delgratia's scandel had to do with salted samples as well. As Robinson left so quickly, my doubts have increased. My guess is, (1) he wanted something or to do something the board wouldn't allow or (2) he was all about making a quick buck, at our expense. This really doesn't look good to potential investors / money centers that are looking at Tracer right now. Here is how I see things. If Tracer goes to the pink sheets / B.B., you can write off your investment. They'll never come back. Nobody in their right mind will invest in them. Their value will continue to deminish until they go out of existence, or they will simply go for broke which is my quess. They will drill 1 or 2 more dry holes, then the above headline will be a reality. No question! They CAN'T offer more stock, not at 15 - 20 cents! Their future will be sealed....but they could at $1.50 to $2.00 after the rollback. That would almost guarantee the producing property they're after. If I have a choice and I'm looking at loosing my investment, I want to go for the best chanch possible, period. I would like to say to those stating they're absolutely opposed to a rollback (and I didn't like that idea much either at first) a rollback MUST HAPPEN! I would like to state several things. It is true that many companies choosing to do a rollback do have their stock value go down. Will this happen to Tracer? Yes, but not as much as some might think. Why won't it? Unlike other companies who have much debt, no future prospects, nothing working for them, Tracer is different. They are debt free, still have about 400,000+ shares of their Eurogas stock, own their own rig, have income from a producing property and are working on acquiring another producing property. (WHICH NEEDS FUNDING) Plus their stock is undervalued! (about 60% of breakup valuation - so it's currently at a premium.) Not to mention the best asset of all. His name is Steve Jacobs. Anyone in doubt should do their homework. I do not think it will go down much from current levels. Anyone who hasn't talked with Tracer's home office, I would suggest they do so. They are easy to contact, and very easy to talk with. Either Talk with their I.R. Craig Doctor or Ed Mowatt the CFO. (yes even the CFO will talk with you in he's not busy) Their number is 604 682-7507. Ask questions. Make comments. Don't complain about what their doing to others on this thread unless you take the time to talk to them directly. Let them know how you feel. After the vote during the general annual meeting (which by the way, anyone can go to) the companies direction will be defined and if no rollback, IMHO their demise will start and WILL HAPPEN. Pete, I directed this to you as you seem to have many posts going back a long way. Also seems you have a good handle on how things are at Tracer Petroleum. What do you think? I will be leaving for a long time starting early Saturday morning. If anyone has any questions/comments for me, do so by Friday P.M. Good luck to all. P_Dalton On the other hand, I would like to point out a couple of posts made by KnightsBridge. Number 558 and 565. I would suggest reading them again, then read them once more. Tracer has too many shares at to low of a price to entice money people to touch us with a 10 foot pole. If we go to the pink sheets / B.B., we're finished. Unfortunatly, I am sure the promise of a rollback by Tracer to a prospective loaner of money won't fly. It has to be done first, no other way. I see this as the only chanch Tracer has. I have posted this message to you Pete, as you seem to have a good sensible grasp of the situation. What do you think? After tomorrow I'll be gone for awhile, so if anyone wants to ask questions or make comments to me, do so before late tommorrow afternoon. P_Dalton