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

To: Saracen who wrote (612)	4/24/1998 4:00:00 PM
From: DR. MEADE	Respond to of 1261

Friday April 24, 1:50 pm Eastern Time Company Press Release SOURCE: Tracer Petroleum Corporation Tracer Petroleum Corporation: Private Placement Canceled VANCOUVER, B.C. April 24 /PRNewswire/ -- Tracer Petroleum Corporation (''Tracer'') (Nasdaq: TCXXF - news, TCXWF - news; VSE: TCP. - news) announced that due to market conditions and other factors, the private placement announced on March 9,1998 has been canceled. No additional shares will be issued at this time. The Company currently has 37,172,054 common shares outstanding. On other matters, management is continuing the due diligence process on the three Blocks under option as announced on April 6, and is proceeding with plans to drill a second well in the Ngurit area of the North Tanjung Block, South Central Kalimantan in the Republic of Indonesia. The cancellation of the private placement will not affect plans to proceed with the drilling plans of the Company. 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. SOURCE: Tracer Petroleum Corporation ------------------------------------------------------------------------ More Quotes and News:Tracer Petroleum Corp (Nasdaq:TCXWF - news; Vancouver:TCP.V - news; Nasdaq:TCXXF - news; Vancouver:TCP.V - news) Related News Categories: oil/energy ------------------------------------------------------------------------ Help ------------------------------------------------------------------------ Copyright c 1998 PRNewswire. All rights