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,: ~_ <br />,~.;. <br />- Q11a~c 19 ~ 168 <br />lSEMORANDDlS OP OPTION TO LEASE <br />- ~ NA!!E AND ADDRESS The Victor-American Fuel <br />OF OPTZONOR: Company <br /> 1457 Broadway <br /> Suite 402 <br /> New York, New York 10036 <br />~~ AND ADDRESS Drummond Ventures, Inc. <br />- -~! OPTIQT~r P.O. box 2519 <br />- Jasper, Alabama 35501 <br />DATE OF OPTION: April 30, 1982 <br />DESCRIPTION OF All ~f the Colorado coal <br />PREMISES TO WHICH properties in which Optionor <br />OPTION RELATES: has an interest, located in <br /> the counties of Las Animas <br />• - and Huerfano in the State of <br /> Colorado, consisting of the' <br /> following areas or tracts: <br /> Delegua Hastings, Gray Creek, <br />_ Ravenwood, Maitland, Howen <br />-. and Purgatory. <br />TERM OP OPTION; The term of the Option commenced <br /> on April 30, 1982 and will <br /> expire at 12:01 A.N., E.S.T. <br /> on November 5, 1982. <br />SUl4dARY OF OPTION The Option grants Optionee <br />PROVISIONS: the right, during the term of <br />the Option, to elect to enter <br />into a lease of the properties <br />described above, for the <br />w <br />