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

To: Peter G. Troyan who wrote (963)	5/5/1999 4:40:00 PM
From: drrobinson	Respond to of 1261

If "control" is what you think I am after, why would I have suggested to the Board that we do a rights offering? Under a rights offering, all shareholders get a chance to participate. It would have made a lot more sense for me to have suggested that I do a private placement, if I wanted "control", and said "screw the shareholders". But I do not want that - I want everyone to benefit, but in my opinion that is only possible if (1) we retain the NASDAQ listing through the consolidation and then, (2) we raise some new capital, and in a way that is beneficial to the shareholders, through a rights offering. If you have a better idea, please feel free to let me know what it is. DRR