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

To: Midwesterner who wrote (1058)	5/9/1999 11:53:00 PM
From: Saracen	Read Replies (1) \| Respond to of 1261

I will try to make myself clearer: I am not talking differently now at all - I still have a very strong opinion that Tracer should sell Indonesia for what it can, and put the proceeds into something else. As I stated earlier, I do not know what Tracer is doing these days in Indonesia, but the silence is deafening. I still think that Tracer would be better off going into oil projects elsewhere. I like the Iran idea, because Iran has lots of oil, and because of US government policy, you do not have to compete with US oil companies to get good plays in Iran. As to picking up anything good in the US and Canada, it is now probably too late because of the recent increase in oil prices. You want a constructive suggestion: approve the rollback, to preserve the listing long enough to allow management to sell Indonesia and complete some deals elsewhere. I speak with management of Tracer regularily, and I am confident that they can do this, as long as they have the support of the shareholders. To me, a destructive suggestion would be to vote against the rollback. I will tell you this: I am not happy about the stock's performance, and I am not happy about the fact that there has been no deals done in the entire time that I have owned the stock, but I will be even less happy if Tracer is delisted from NASDAQ, and with that goes any chance of doing any major deals (because no NASDAQ = no new capital). Those are my thoughts. Saracen