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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman S[., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 8663567 <br />FAX: (303) 832-8106 <br />May 24, 2005 <br />Bank One, Na <br />Global Trade Services <br />One Bank One Plaza <br />1 Bank One Plz <br />Chicago, IL 60670-0002 <br />Re: Carbon Junction Mine (Permit No. C-1992-080) <br />Bond Release Application No. 2 (SL-2) <br />Bond No. 00331076 <br />Dear Sir or Madam: <br />COLORADO <br />DIVISION OF <br />MIN SRALS <br />GEOLOGY <br />REC LA MATION•MINING <br />BAFETY•BCIFNCE <br />Bill Owens <br />Governor <br />Russell GeoBe <br />Executive Director <br />Ronald W. Cattany <br />Division DlreCtO! <br />Natural Resource Trustee <br />This letter, as required by Rule 3.03.2(5)(a) of the Rules and Regulations, is to inform you that the <br />Division of Minerals and Geology has issued a proposed decision to Approve Bond Release Application <br />No. 2 for the Cazbon Junction Mine. This decision will be published in The Durango Herald as soon as <br />possible. Publication of the notice initiates a thirty (30) day public comment period. If, within thirty days, <br />there aze no requests for an adjudicatory hearing, the decision will become final. <br />The bond for the operation is a Letter Of Credit issued by your company (Bond No. 00331076), in the <br />amount of $816,526.00. The proposed release amount is $150,416.00. <br />Please be awaze that this notification is not a request to initiate any action by Bank One, NA concerning <br />Bond No. 00331076, and is for your information only. Should Oakridge Energy, Inc. chose to take action <br />with regard to this bond release, they will contact you. <br />If you have questions or need additional information, please contact me. <br />Sincerely, <br /> <br />Tom Kaldenbach <br />Environmental Protection Specialist <br />TAK/Jrc <br />ca Johanna R. Cramer, CDMG <br />C-SL-I] CI992080 TAK ?0050524 100105 AM <br />Office of Office of Colorado <br />Mined Land Reclamation Active and Inactive Mines GFblogical Survey <br />