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

To: Midwesterner who wrote (992)	5/6/1999 4:41:00 PM
From: drrobinson	Read Replies (1) \| Respond to of 1261

Well, the game of tennis continues. Now it is my turn to serve. Does anyone know the score? Whatever it is, it does not appear that "love" is part of it. In response to your latest ramblings: 1. Over the years, I have been involved in taking a number of companies public onto NASDAQ and the OTC Bulletin Board. If I were to start an oil company from scratch, I estimate that it would take approximately US$250,000 to capitalize it, vend in a decent international project, and then list on the Bulletin Board. I would then gradually build it up to the point where the listing could be moved to NASDAQ. Granted, this would take much more time than buying up control of Tracer, but it would also take much less money. Let me reiterate: I am not trying to take "control" of Tracer. I am simply trying to help make the company a success, to the benefit of the shareholders, and I strongly believe that the NASDAQ listing is absolutely essential for this to happen. 2. You are correct - a Director or Directors can be "fired" by the shareholders by not garnering enough votes through the proxies. If you have any good suggestions for nominations to the Board, perhaps to replace me, please let me or someone else within the Company know, and we will seriously consider it. The same goes for all of the shareholders: if you have any constructive suggestions for changes to the Board/management/strategic plans/etc., please let us know. 3. Regarding merging Tracer with another company, this is exactly one of the things that we have been considering and talking to investment bankers and other companies about. But in these discussions, one of the things that has made Tracer attractive is the NASDAQ listing - Tracer is much less valuable as a merger candidate without the listing. As to a takeover by another company, Tracer does not have enough cash flow to be attractive as a takeover candidate. 4. As I stated, the only reason I want to talk to people like you directly is that you get a much better "feel" for where someone is coming from when you can talk to them directly. Let me ask you something: are you afraid to talk to me? You shouldn't be - I really am a nice guy. 6. My reasons for leaving were personal, and had a lot to do with not wanting to work with Mr. Viggers. But I will tell you one additional reason why I resigned from the Tracer Board: I was horrified by the fact that the Company had received notice from NASDAQ about not complying with the minimum listing requirements, and had not disclosed this to the shareholders. So, you see, my personal reasons had a lot to do with being concerned about my personal liability with remaining on the Tracer Board. 8. I will believe the "FACT" (as you put it) that the consolidation will or will not happen only when the proxies are counted on June 4th. As to stepping down, I remain a shareholder of the Company, and I do not think that it would be in the best interests of the shareholders if I "abandoned ship" right at this moment. However, as I stated above, I am open to suggestions for additions to the Board. If you have a suggestion of a real, credible replacement for me on the Board, I will take that to the Board of Directors and we will seriously consider it. If at that point the Board decides that it would be in the best interests of the shareholders that I leave, then I will. 9. I have already guaranteed that communication will improve. Now, let me ask you one more thing: what have I done to you, Florida Cracker, Troyan, etc., to warrant such abuse? I am all ears! DRR