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

To: Midwesterner who wrote (999)	5/6/1999 10:40:00 PM
From: Saracen	Read Replies (2) \| Respond to of 1261

I think that Robinson brings up a very good point when he states: "....the reality is that there is now a real risk of losing the NASDAQ listing, and because we have gone through this before, if we simply try to push the price up over $1 through buying up the stock, the "pros" (i.e. short sellers, traders, etc.) will work against us, and take advantage of the predicament to sell into our buying. This will make it very difficult, and expensive, to try to maintain the listing that way." To simply try to boost the stock up over $1, for the sake of preserving the listing, would be financial suicide. Saracen

To: Midwesterner who wrote (999)	5/6/1999 11:55:00 PM
From: drrobinson	Respond to of 1261

So now you are taking shots at native groups! If you care to review posting #995, you will note that I have not dismissed the notion of acquiring producing properties, domestically or otherwise. I have spent the past 9 years working in the oil patch, and so I know that a good deal cannot be done overnight (or by next week, for that matter). You also seem to overlook that we cannot acquire a property for nothing (but we get pretty close in Iran) - acquiring a property anywhere but like a place like Iran, would require substantial dilution to the shares outstanding because of the shares issued to either acquire the asset for stock, or for raising the capital to acquire the asset for cash. This dilution would make it much more difficult to justify a necessary valuation per share to get the price up high enough to retain the listing. As to commitment and devoting the time, I am devoting almost all of my time to Tracer at the moment, to the detriment of my family and my studies with my MBA, even though I am paid nothing to do this. You seem to forget that I am only an outside director - I am not paid management. Should I be "taking the heat" as an unpaid outside director? Sure - if I had been around for awhile, had put no money into the company, and was sitting on a cushy option position. But this is not my situation. As to Steve Jacobs, he is still very much involved with Tracer. He is still in Jakarta, where he continues to try to move the Sungai Gelam deal forward, find partners for the North Tanjung Block, and so on. DRR