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

To: P_Dalton who wrote (611)	4/24/1998 2:43:00 PM
From: Saracen	Read Replies (1) \| Respond to of 1261

I concur with your opinion of Peter Viggers - why has he not put his own money on the line and thus aligned his interests with the public shareholders? IMHO, Mr. Viggers should "sh_t or get off the pot". I am told by my broker friend in Florida, and others who follow the company, that Steve Jacobs is very important to the future success of the company. He is an experienced and capable engineer who is well-connected in Indonesia for getting deals done. However, he lacks any significant experience at running a public company and raising capital. As to the other directors/management, I hear that Bob Fearon is a nice guy, but that is about it. He does, however, own by-far-and-away the most stock of anyone on the Board (about 1.3 million shares?). I am also told that he has the shareholders best interests at heart; he also does not think too highly of the lack of performance from Mr. Viggers. That just leaves the CFO, Ed Mowatt. The story here is that he is a nice guy who owns a few shares, and works hard, but is in over his head. He lacks the necessary contacts and experience at raising capital that is necessary to become a successful CFO. The bottom line: you keep Jacobs and Fearon, and replace Viggers and Mowatt if good replacements can be found. IMHO.

To: P_Dalton who wrote (611)	4/24/1998 8:33:00 PM
From: virginijus poshkus	Read Replies (1) \| Respond to of 1261

P. Viggers is still listed as having 5,000 shares and he is still a member of the audit committee. Plus he has optinos on 500,000 shares and 500,000 shares for stock appreciation rights. Jacobs has vargas

To: P_Dalton who wrote (611)	4/25/1998 11:42:00 PM
From: Jim Daly	Respond to of 1261

I have to agree that Peter Viggers not holding shares in the company is wrong. I think that if someone is going to chair a stockholders meeting they should at least have a stake. I also hope that Tracer will have the bit in the ground before the annual meeting, that will help to support the stock, post split. Sacercan said "Jim Daly had a post on here about his talk with Ed Mowatt and said something about oil at that find also. That is not true" A couple of things that I have to clear up here. First, that post was made several hours after the conversation. I needed the time to digest. I mistakenly said "Muya 2" (post was at 2am after all) when I actually meant "Ngurit 1". Second. The inference was, that since they had hit gas and they where drilling a shallow well, there was an excellent possibility that there was oil there at deeper levels. Since they where not able to substantiate the original flow rates and damaged the hole in the process no one can say for sure that there is any oil, but there is a much greater likelihood. Just throwing in my BIT (nudge, nudge) Jim