CALGARY, Alberta, Jan. 24 /PRNewswire-FirstCall/ -- 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") is pleased to
report that Mr. Sameer Hirji of Calgary, Canada, has agreed to join the
Company's Board of Directors. A corporate attorney by background with
15-years experience in private practice, Mr. Hirji is the founder and Chief
Executive Officer of Magellan Merchant Capital Inc., a private investment
banking firm based in Calgary. Magellan serves as financial advisor and agent
for clients seeking assistance in investment banking, corporate finance,
mergers & acquisitions and other cross-border transactions. Mr. Hirji has a
Bachelors of Law degree from the University of Manitoba.
The Company also wishes to report that it has entered into an Investor
Relations & Consulting Agreement with Janus Investor Relations Inc. ("Janus
IR") of Calgary. The agreement is for a term of six months, with an option
to renew for a further six months, ending December 31, 2002. Newly appointed
director, Mr. Sameer Hirji is also a director of Janus IR.
Tracer continues to focus its efforts on securing a significant petroleum
project or projects in the Islamic Republic of Iran, with the assistance of
its financial backer and strategic partner, Roc Oil Company Limited of
Australia. The Company is in discussions with a number of potential partners
regarding joining Tracer in a joint venture to develop a number of significant
oil fields in Iran that have been offered to the Company. Tracer invites
potential oil industry partners to visit its web-site, at
http://www.tracerpetroleum.com, to view a presentation regarding this opportunity;
the necessary password can be obtained by contacting the Company's corporate
secretary, David Harrison, at davidh@tracerpetroleum.com or at 403-290-1676.
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 Investor Relations, at 403-290-1676 at
the Company's headquarters:
TRACER PETROLEUM CORPORATION, Suite #910, 441 - 5th Ave. S.W., Calgary, AB,
T2P 2V1 Canada
Phone: 403-290-1676 or Fax: 403-264-5285,
"e-mail" tracerinfo@tracerpetroleum.com or
web site, http://www.tracerpetroleum.com
SOURCE Tracer Petroleum Corporation
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Related links:
http://www.tracerpetroleum.com
CONTACT:
Investor Relations, +1-403-290-1676,
+1-403-290-1676, or fax, +1-403-264-5285, or
tracerinfo@tracerpetroleum.com
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