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

To: Midwesterner who wrote (617)	4/24/1998 9:51:00 PM
From: virginijus poshkus	Read Replies (1) \| Respond to of 1261

M. Jacobs has options for 400k and stock appreciation rights(SAR) of 300k. Mohwatt and Fearon 250k and 200k respectively plus 300k SAR from 1995. we are voting on a new option price of .50. Although the year end report had $9,967,000 in assets listed for Ngurit, it is noted that these are not depreciation assets and could be written down if no value is accorded them. book value is about .42 per share including the above. without it, book value is .15. canadian funds. we better hope that there is economic gas in the field or we take a big book value hit. vargs