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n <br />• <br />Exploration Bond Summary <br />~SHNk'At~%814~7 Exhibit 1 <br />The following cost estimates are based on Basin's contract work <br />conducted during the 1992 exploration program. <br />1. Regrade Drill Pads: <br />Total pad disturbance for 10 sites is 64,000 ft2. <br />Regrade using small dozer - $60./hr. <br />Estimated time is 1 hour per 1000 ft2. <br />64.0 hrs x S60./hr ..............................S 3,840. <br />2. Reseed Drill Pads and New Roads: <br />a) Drill sites......1.50 acres <br />b) New roads........0.80 acres <br />(a + b) = 2.30 acres x 5250./acre ..............$ 575. <br />3. Regrade Roads: <br />a) New roads........... 2,500 ft. <br />• b) Existing roads... ..23,800 ft. <br />(a + b) = 26,300 ft x 1 hr/500 ft. x S60./hr....5 3,156. <br />4. Backfill Mudpits: Size = 40' x 8' x 6' <br />°_-~ <br />a) One pit per site.......10 <br />b) Contingency pits....... 2 <br />(a + b) = 12 pits x 4.hrs/pit x $60./hr.........5 2,880. <br />5. Cementing Cased Holes: <br />(Includes Hole Marker) <br />Assume worst case bottom to top. <br />Total footage: 6,105 ft. from Table 2. <br />Hole (Casing) diameter: 6 inches ID <br />Number of holes: 6 <br />a) Cement Grout: (Estimated footage) <br />200 ft. in each hole <br />5,275 ft x 51.05/ft .............5 5,539. <br />b) Abandonment Fluid: (Gel Type) <br />6,105' - 5,275' = 830' <br />. 930' x 50.15/ft ...............5 125. <br />c) Drill rig, water truck, 6 labor: <br />44 hrs x $125./hr ..............5 5,500. <br />