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<br />f"! <br />... .., <br />_..:;t <br />r'"~ <br />(_:) <br />c..... <br /> <br />. <br /> <br />. <br /> <br />3.0 SUBTEAM: COAL MARKET/COAL SUPPLY (McKeever) <br />3.1 OCTOBER EVENTS <br /> <br />Attended Coal Marketing Conference in Denver sponsored by <br />the Western Coal Export Council, Colorado School of Mines. <br /> <br />Briefed Pacific Gas and Electric Company officials in San <br />Francisco. <br /> <br />A member of the Utah Coal Producers Association requested <br />that we offer to brief the group on the Project. <br /> <br />Attended Colorado Energy Conference in Grand Junction, Colorado, <br />on October 14. <br /> <br />4.0 SUBTEAM: FINANCIAL/ECONOMIC (McKeever) <br />4.1 OCTOBER EVENTS <br /> <br />Met with representatives of Ernst and Whinney in San Francisco <br />to discuss the firm's analysis of cost figures for various <br />AQUATRAIN scenarios. The figures will be included in the <br />AQUATRAIN Preliminary Report. Ernst and Whinney is providing <br />substantial and valuable assistance to the Project effort. <br />Finalizing financial analysis is being held pending completion <br />of technical review by Arthur D. Little, Inc. <br /> <br />Efforts continued to identify potential industry partners <br />for AQUATRAIN. <br /> <br />4.2 ANTICIPATED NOVEMBER EVENTS <br /> <br />Continue efforts to identify industry partners. <br /> <br />5.0 SUBTEAM: TECHNICAL/ENGINEERING (Legal) <br />5.1 OCTOBER EVENTS <br /> <br />American Quasar Petroleum has indicated interest in working <br />with Aquatrain, Inc., on securing CO2 supplies and developing <br />strategies for marketing the commodity. <br /> <br />Efforts continued to set up a meeting with EXXON USA regarding <br />possible joint ventures for supplying CO2 to the Project. <br />EXXON reportedly is moving aggressively to develop their <br />CO2 reserves at Riley Ridge, Wyoming. <br /> <br />Stearns and Roger agreed to submit a cost estimate to Aquatrain, <br />Inc., for developing more fully their concept of generating <br />CO by passing powerplant stack gases through a fluidized- <br />be6 combustion chamber. Preliminary figures indicate favorable <br />economics. <br /> <br />2 <br />