CALGARY, Alberta, March 6 /PRNewswire-FirstCall/ -- The following was
released on behalf of the Board of Tracer Petroleum Corporation, by David
Robinson, President and CEO:
Tracer Petroleum Corporation (OTC Bulletin Board: TCXX) ("Tracer" or the
"Company") reports that it has converted 100% of its preferred shares of
Transmeridian Exploration Inc. ("TMEI"), at no cost, into 1.5 million common
shares of TMEI. Tracer also holds 1 million warrants that are exercisable
into TMEI common shares at US$1.00 per share. TMEI has commenced trading on
the OTC Bulletin Board, under the symbol "TMXN."
TMEI is an independent oil and gas exploration and production with
headquarters in Houston, TX. TMEI holds a license for the South Alibek Field
in Kazakhstan, which is adjacent to the Alibekmola license held by Kazakhoil
Aktobe. Nelson Resources Ltd., a Toronto Stock Exchange-listed company, owns
50% of Kazakhoil Aktobe.
More information on TMEI can be found at their corporate web-site:
http://www.tmei.com.
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 investor information please contact Janus Investor Relations, at
403-693-0100, or the Company 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:
Janus Investor Relations, +1-403-693-0100,
for Tracer Petroleum Corporation; or Tracer Petroleum
Corporation, +1-403-290-1676, or fax, +1-403-264-5285, or
tracerinfo@tracerpetroleum.com
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