Tracer Petroleum executives swap positions

The two top executives of Calgary-based Tracer Petroleum Corp. will swap jobs.Larry W. Youell, currently Tracer chairman, will relinquish that post and assume the roles of president and CEO.

June 19, 2002

By OGJ editors

HOUSTON, June 19 -- The two top executives of Calgary-based Tracer Petroleum Corp. will swap jobs.

Larry W. Youell, currently Tracer chairman, will relinquish that post and assume the roles of president and CEO of the company. David Robinson, who intends to resign from the positions of Tracer president and CEO at an upcoming shareholder meeting, will then become the company's chairman.

Earlier this year, Tracer entered into a joint venture agreement with Canneft Inc., Houston, to participate in development of Adzhiyap block in southwestern Turkmenistan. The block, which covers 2,000 sq km, is bordered by Iran to the south and the Caspian Sea to the west (OGJ Online, Feb. 6, 2002).