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Bull Creek Reservoir Company <br /> PO Box 25 <br /> Molina, CO 81646 <br /> ., <br /> 1/1/15 <br /> Colorado Water Conservation Board <br /> Attn: Kirk Russell <br /> 1580 Logan St., Suite 600 <br /> Denver, Colorado 80203 <br /> Re: 2014-4 Quarterly Report <br /> Dear Mr. Russell, <br /> There are no significant developments to report. There will no doubt be some discussion of share <br /> trading and assessment levels at Bull Creek Reservoir Company's annual meeting is in March. Any such <br /> discussions will be covered in my next report. <br /> IN <br /> J n W. Groo, Secretary/ Treasurer <br />