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f Snell &Wilmer <br />L.L.F <br />Cheryl A. Linden, Esq. <br />Robert D. Clark, Esq. <br />February 23, 2001 <br />Frontier to commit to having a suitable representative meet in person or telephonically with the <br />DMG to discuss Frontier's fmancial status. Frontier said that it would let Quaker know by <br />Tuesday or Wednesday of next week whether a Frontier representative could meet with the <br />DMG. <br />Part III. Other Efforts <br />On February 12, 2001, Mike Jamison and Bob Comer met with State Attorney Generals <br />Linden and Clark, DMG Director Long and Coal Program Leader Berry. Mr, Clark was referred <br />to Ethan Fogel for responses to his questions concerning the bankruptcy. The balance of the <br />meeting involved an effort to discuss the potential for alternative solutions. <br />On Tuesday, February 20, 2001, Ethan Fogel spoke with Bob Clark and Cheryl Linden <br />and provided them with information regarding the Chapter 11 bankruptcy proceeding and its <br />status. They discussed the sale of assets and plan of reorganization paths and Quaker's belief that <br />the reorganization path offered greater opportunities for addressing Colorado reclamation issues. <br />Mr. Fogel also expressed Powderhorn's eagerness to discuss with the State the manner in which <br />on-the-ground efforts could proceed. <br />On February 7, 2001, Powderhorn and other parties to the Quaker Chapter 11 proceeding <br />received a complicated settlement proposal from the State of Colorado. Powderhorn appreciates <br />the significant effort by the State to seek to broker a mediated resolution to this matter. We are <br />also in receipt of the response by the Lender Group. Absent a positive response by the Lender <br />Group and the sureties, there appears to be little potential for this proposal to succeed as it can <br />not be implemented by Powderhorn alone. <br />