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

To: Jim Daly who wrote (951)	4/24/1999 3:16:00 PM
From: Peter G. Troyan	Read Replies (1) \| Respond to of 1261

Tracer Petroleum Announces Notification From Nasdaq CALGARY, Alberta, April 23 /PRNewswire/ -- The following was issued today by Larry W. Youell, Chairman, Tracer Petroleum Corporation: ''Tracer Petroleum Corporation (Nasdaq: TCXXF - news; ''Tracer'') reports that the Company has received notification from Nasdaq that the bid price for Tracer common shares has fallen below the minimum continued listing requirement of US $1.00 for over 30 consecutive trading days. As a result, Tracer has been granted until July 20, 1999 to achieve this minimum bid price requirement, to avoid possible relegation from the NASDAQ Small Cap Market to the NASD OTC Bulletin Board. While the Board of Directors of Tracer views this situation seriously, it is confident that efforts in progress to pursue the acquisition of new oil and gas ventures in Indonesia, Iran, and elsewhere, with the intent of increasing shareholder value, will ultimately succeed and assist the Company in meeting all necessary Small Cap Market listing requirements.'' This release contains ''forward looking statements'' as per Section 21E of the U.S. 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. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations. NOTE: The Vancouver Stock Exchange has neither approved nor disapproved the content of this release. CONTACT: David Harrison of Tracer Petroleum Corporation, 403-290-1676, or fax, 403-264-5285, or tracer@ultrane.ca