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

To: Dave K who wrote (804)	8/28/1998 4:47:00 PM
From: Peter G. Troyan	Read Replies (1) \| Respond to of 1261

Dave, You are correct that the focus has indeed changed to producing blocks. This decision was made some time ago as you remember. The company has got to have production and the revenue from it to fund exploratory drilling on the NT Block. And no, they have not ruled out drilling for oil. I believe I was told that the next hole would be in search of oil. But, they have to sign these blocks to fund this exploration. The key here are the banks. I would assume they have some interesting properties for Tracer to look at. But what we need right now is for them to sign the first one and get things going. Hopefully, this will be soon! Pete