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

To: Peter G. Troyan who wrote (1076)	5/11/1999 5:10:00 PM
From: loanshark99	Respond to of 1261

Interesting. For these insiders to make $ on a 4 million share stock should be a snap. I believe Mr. Robinson has the ability to raise $ and do deals without greatly diluting the stock. Now at 7/16. How low will it go? What if his friends and he leave and do a deal in Iran somewhere else? How would shareholders of TCXXF stand legally? Also, Mr. Robinson mentioned an example of an oil company that was traded on Nasdaq by the name of TransGlobe Energy(TGLEF). As he stated, the company did try to get low cost US production to go along with high impact Yemen concessions. They blew $5 million chasing Montana sand and came out with a little over 100 barrels per day. They could have spent that $5 million on Yemen and come out with much larger percentages of ownership than they currently have. They have granted shareholders a rights offering that was well received to raise enough money to continue drilling in Yemen. But, the stock has slid to .22 cents and now has 28 million shares out. I'm sure that any mention of a rollback there would be met with resistance just like here.

To: Peter G. Troyan who wrote (1076)	5/11/1999 5:15:00 PM
From: drrobinson	Read Replies (2) \| Respond to of 1261

To all: After many conversations with shareholders, it is apparent that I misjudged the situation regarding retaining the NASDAQ listing through a share consolidation. As such, the Board of Tracer has resolved to withdraw the resolution calling for the 3-for-1 consolidation of Tracer's outstanding common shares - news to this effect should be out momentarily. I apologize for any grief that this may have caused shareholders. The intention of the Board was not to harm the shareholders, but rather to do what was felt necessary to retain the listing, and ultimately raise further capital for the Company to pursue new projects. Hopefully, by the Board's actions, you will see that we do listen to the shareholders, and we do have your best interests in mind. We now intend to concentrate on adding value to the Company by moving forward on new projects in Iran, Indonesia, and elsewhere, as quickly as possible, and as financing permits. If anyone wishes to speak with me regarding Tracer and its endeavors, please feel free to contact me at 403-290-1676, or via email at davidrobinson@execmba.com. Sincerely, David R. Robinson