CALGARY, Alberta, Jan. 19 /PRNewswire/ -- The following was released on
behalf of the Board of Tracer Petroleum Corporation, by David Robinson,
President and CEO:
Tracer Petroleum Corporation ("Tracer" or "the Company") reports that the
Company has entered into an agreement with A. Brown Company Inc. ("ABC") in
the Philippines whereby Tracer and ABC have agreed to form a joint venture to
market and trade crude oil and petroleum products in the Philippines and other
countries in the Far East and Australasia. The joint venture activities will
be undertaken through a new Philippine registered company to be called
A. Brown Energy Inc. ("ABEI"). Tracer will own a 51% equity interest in ABEI.
ABC is a publicly listed manufacturing and trading company with business
interests in the Philippines and Indonesia. Its head office is in Pasig City,
Philippines. Through its joint venture with Tracer, which has petroleum
interests in Iran and the Caspian sea region, ABC will expand its business of
chemicals trading to include crude oil and petroleum products trading
capability in the expanding Far Eastern and Asia Pacific markets.
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.
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, http://www.tracerpetroleum.com
SOURCE Tracer Petroleum Corporation
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Related links:
http://www.tracerpetroleum.com
Company News On-Call:
http://www.prnewswire.com/comp/121391.html or fax,
800-758-5804, ext. 121391
CONTACT:
Mr. David Harrison, Corporate Secretary, of
Tracer Petroleum Corporation, 403-290-1676, or fax, 403-264-5285,
or tracer@ultranet.ca
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