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

To: James Strauss who wrote (1082)	5/12/1999 12:22:00 AM
From: drrobinson	Respond to of 1261

Thanks, Jim. We will do the best that we can. DRR

To: James Strauss who wrote (1082)	5/12/1999 11:38:00 AM
From: James Strauss	Read Replies (1) \| Respond to of 1261

Tuesday May 11, 5:48 pm Eastern Time Company Press Release SOURCE: Tracer Petroleum Corporation Tracer to Withdraw Resolution to Consolidate Outstanding Shares CALGARY, Alberta, May 11 /PRNewswire/ -- Tracer Petroleum Corporation (Nasdaq: TCXXF - news; Vancouver: TPC - news; ''Tracer'' or the ''Company'') reports that the Board of Directors is aware of substantial shareholder dissatisfaction with the proposed consolidation of Tracer's outstanding shares, on a three (3) for one (1) basis, as detailed in the Circular and Proxy mailed to shareholders on May 4, 1999. As such, the Board wishes to advise shareholders that at the upcoming Annual Shareholders Meeting, to be held June 4th, 1999, in Calgary, Canada, it is the intention of the Board to remove the resolution considering the consolidation. This release contains ''forward looking statements'' as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to political risks and operational risks identified in documents filed with the Securities and Exchange Commission, including changing and depressed oil prices, unsuccessful drilling results, change of government and political unrest in its main area of operations. The Vancouver Stock Exchange has neither approved nor disapproved the content of this release. For more information, please contact Mr. David Harrison, Corporate Secretary, at 403-290-1676 at the Company's headquarters: TRACER PETROLEUM CORPORATION, Suite #1510, 444 -- 5TH Ave. S.W., Calgary, AB , T2P 2T8 Canada Phone: 403-290-1676 or Fax: 403-264-5285, ''e-mail'' tracer@ultranet.ca or web site, www.hostcc.com/tracer. SOURCE: Tracer Petroleum Corporation Jim