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Table 2 <br /> West Elk Mine C-1980-007 Bond Release History <br /> Phase I Phase II Phase III <br /> Release Acres Amount Acres Amount Acres Amount <br /> SL-01 15.19 $79,727.00 0.00 $0.00 0.00 $0.00 <br /> SL-02 5.50 $122,629.00 0.00 $0.00 0.00 $0.00 <br /> SL-03 47.65 $470,488.00 0.00 $0.00 0.00 $0.00 <br /> SL-04 0.00 $0.00 67.60 $196,037.00 0.00 $0.00 <br /> SL-05 13.85 $94,475.00 0.00 $0.00 0.00 $0.00 <br /> SL-06 0.00 $0.00 0.00 $0.00 24.20 $69,761.00 <br /> SL-07 19.23 $97,871.00 0.00 $0.00 0.00 $0.00 <br /> SL-08 10.05 $110,452.00 0.00 $0.00 0.00 $0.00 <br /> SL-09 0.00 $0.00 0.00 $0.00 22.10 $38,462.00 <br /> SL-10 9.97 $149,727.22 0.00 $0.00 0.00 $0.00 <br /> SL-11 0.00 $0.00 0.00 $0.00 15.25 $26,825.00 <br /> SL-12 22.58 $295,827.06 0.00 $0.00 0.00 $0.00 <br /> SL-13 0.00 $0.00 50.04 $81,667.48 0.00 $0.00 <br /> SL-14 12.05 $146,798.23 0.00 $0.00 0.00 $0.00 <br /> SL-15 11.67 $143,551.21 0.00 $0.00 0.00 $0.00 <br /> Total 167.74 $1,711,545.72 117.64 $277,704.48 61.55 $135,048.00 <br /> Prior to the SL-16 release the total disturbed acreage(TDA) at the West Elk Mine was 556.62 acres, and <br /> the required surety (RS)was $11,305,986.79. Rule 3.03.1(2) allows for the release of up to 60% of the <br /> applicable bond at Phase I, 25% at Phase II and the remaining 15% at Phase III, the calculation below <br /> shows the maximum dollar amount eligible for release with the approval of SL-16 (X): <br /> SL16 acres <br /> X TDA x RS x 0.25 <br /> 14.36 <br /> X 556.62 x $11,305,986.79 x 0.25 <br /> X = $72,919.57 <br /> Table 3 <br /> Maximum Bond Eligible For Release per Rule 3.03.1(2) <br /> Prior to SL-16 Prior to SL-16 SL-16 Eligible for release <br /> (Acres) (Required Surety) (Acres) with SL-16 <br /> Phase 1-60% $6,783,592.07 0.00 $0.00 <br /> Phase 11-25% $2,826,496.70 14.36 $72,919.57 <br /> Phase III- 15% $1,695,898.02 0.00 $0.00 <br /> Total 556.62 $11,305,986.79 $72,919.57 <br /> C-1980-007 Page 9 of 10 <br />