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further proceedings in the Bankruptcy Court. As a condition thereof, this Court requested filing <br />of a 90-day Status Report. <br />4. On or about October l9, 2001, the United States Bankruptcy Court for the Eastern <br />District of Kentucky ("Court") selected the American Electric Power ("AEP") Plan of <br />Reorganization over that of Debtors for Quaker Coal Company and its related entities, including <br />Powderhorn. <br />5. On or about October 26, 2001, in response to settlement discussions, the Court <br />entered under seal a Settlement Letter between Quaker and AEP. <br />6. In accordance therewith, the assets of Powderhorn have or will be transferred to <br />AEP or a wholly owned subsidiazy thereof. <br />5. AEP plans to file with the State of Colorado a replacement bond for the existing <br />Frontier bond, which is the subject of this litigation. As a result thereof, it is expected that this <br />litigation will be resolved in the neaz future. It is the hope of Powderhorn Coal Company that <br />this matter will be fully resolved before the Mined Land Reclamation Board at its December 12, <br />2001 meeting. <br />Respectfully submitted this 13th day of November, 2001. <br />Robert D. Comer, #16810 <br />Denise A. Dragoo, #908 (State of Utah) <br />1200 17th St., Suite 1900 <br />Denver, Colorado 80202 <br />(303)634-2000 <br />Counsel of Record <br />C:\W INDOWS\DechopN19583NOvember MIRB Pmgmss Repart.doc <br />