Tracer Exploration Exits West Africa

Due to recent political strife and the associated violence in Nigeria, Tracer and its Board of Directors have decided to rethink the company's participation in the Nigerian Sao Tome and Principe Joint Development project and have concluded that with the ongoing unrest within the country of Nigeria, the Company will not be pursuing its joint venture with West Africa Energy Limited. There is no immediate plan to consider a re-evaluation of this project at this time.