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

To: Saracen who wrote (961)	5/5/1999 8:19:00 PM
From: Midwesterner	Read Replies (1) \| Respond to of 1261

Yes Dalton did say what you say. It was absolutely necessary to do a rollback at that time. Had it not been done, we wouldn't be talking right now would we? However, instead of getting an improved Tracer Petroleum as Tracer shareholders had been lead to believe, we have gotten virtually nothing in the year since the last A.G.M. What we have gotten is: (1) David Robinson joins Tracer as a new board member - 3/12/98 (2) David Robinson resigns - 4/8/98 (NOTE: no reason given but this immediately followed the resigns part..."The private placement of US $2.4 million announced March 9, 1998 has not currently been completed as anticipated funds have not been received" What did that mean? (3) TRACER PETROLEUM CORPORATION ("Tracer") is pleased to announce the appointment of Larry W. Youell and David G. Wilson as Directors of the Board - 6/22/98 (enters David Robinson's uncle) (4) TRACER PETROLEUM CORPORATION ("Tracer") is pleased to announce the appointment of Larry W. Youell as Chairman of the Board of Directors effective immediately replacing Mr. Robert Fearon who was Acting Chairman as announced at our News Release dated June 22, 1998. (Mr. Robinson's Uncle promoted) (5) David R. Robinson, of Calgary, Canada, has agreed to fill the vacancy on the Board of Directors. (Ed's demise) Mr. Robinson is currently president of a small, Calgary-based merchant banking firm and has previously been a senior officer of two Calgary-based international petroleum companies. (Re-enter Mr. Robinson) Oh and by the way, this was released on the same day..."Tracer Petroleum Corporation (Nasdaq: TCXXF; Vancouver: TPC) is pleased to confirm that the private placement announced in the company's News Release dated December 29, 1998 has closed". Was that just a coincidence? Since his amazing return almost 5 months ago, which I'm positive me or any other person with 1/2 a brain in his head knows Mr. Robinson was still involved with Tracer in some way if not calling some of the shots, we have had no news of any valve whatsoever. This is all verifiable right from their own site. We're more in the dark now than we were before. For instance, on Dec. 9th a press release stating an agreement to acquire 80% of Sungai Gelam A, B, & D Technical Assistance Contract ("TAC") located in South Sumatra in the Republic of Indonesia was announced. "Detailed due diligence will commence early in January 1999 with critical liability understandings to be verified by the vendor's financial institution by January 15, 1999" It's been a little over 6 months and I don't believe anything was every reported after that. I don't find that this kind of lack of follow up responsible. It's evident that this thing blew up and died but let's not tell the shareholders, right? Talk about no communicating. Of course I'm sure you'll find a perfectly reasonable explanation for all this Saracen as you have been Mr Robinson's best advocate from day one. Be careful now or we'll go back and dig up some of your old posts.