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DORSEY & WHITNEY LLP <br />Mr. David Berry <br />Mav 7, 2001 <br />Page 2 <br />Regarding right of entry, the coal on the Lorencito tract is owned by two entities. MGP <br />Enterprises, a Colorado limited partnership, owns an undivided 53.46% of the coal and surface <br />rights appurtenant to that mineral interest. F.R. and B.F. Hii. own the remaining 46.J3% of the <br />coal and appurtenant rights. B.F. Hill (through a Texas limited partnership, Hill Ranch) is [he <br />curcent owner of the remainder of the surface estate. A copy of the first page of the recorded <br />Memorandum of Coal Lease Agreement and the first page of the Coal Lease Agreement referred <br />to therein, under which the original permit were issued, are attached, showing the coal <br />ownership. Lorencito submitted a letter of intent regarding a new coal lease from MGP by my <br />fax of May 1, under which Lorencito could mine all of the coal on the property (subject to the <br />duty to account to other mineral interest holders under Colo. Rev. Sta[. § 34-44-1 ]0). <br />Negotiations are continuing with MGP and with the Hills. We anticipate executing formal coal <br />leases with MGP and the Hills in the next few days. <br />I hope this clarifies Lorencito's ability to mine and to ship coal by rail from irs project. <br />Please contact me if you have any further questions. <br />Very truly, <br />Robert A. Bassett <br />RAB/I:sm <br />cc (via fax): <br />~ ~i ~~ S <br />_f <br />Bruce Addi~tgtoa , r-l-' -~~ <br />Jerry Koblitz n / ~~P 53.6 e~ ~ <br />Kent Gorham I ~ 1.0~ <br />I <br />~~ <br />~ st, <br />fl ~,~ ~,ii <br />/UO u <br />/~i~~ 9oT Syrd" ~/o~/i-v7~ <br />