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STOCK PURCHASE AGREEMENT <br />THIS STOCK PURCHASE AGREEMENT (the "Agreement"), made and <br />entered into this 1st day of July 1987, by and among <br />BLUE HORIZON MINING COMPANY, INC., a Delaware corporation <br />("Purchaser"); STAMPER COLLINS, an individual ("Collins"); <br />NORTHWEST ENERGY COMPANY, a Utah corporation ("Seller"); <br />NORTHWEST COAL CORPORATION, a Delaware corporation ("NCC"); and <br />WESTERN SLOPE CARBON, INC., a Colorado corporation ("WSC"). <br />W I T N E S S E T H: <br />WHEREAS, Seller owns all of the issued and outstanding <br />shares of capital stock of NCC (the "Shares of NCC"); <br />WHEREAS, NCC owns all of the issued and outstanding shares <br />of capital stock of WSC (the "Shares of WSC"), the principal <br />asset of which is the Hawks Nest Coal Mines of Somerset, <br />Colorado; <br />WHEREAS, NCC and WSC owe Seller certain sums and WSC has <br />granted to Seller a security interest in certain personal <br />property as security for its debt; <br />WHEREAS, Purchaser desires to purchase the Shares of NCC <br />from Seller, and Seller desires to sell the same to Purchaser, <br />for the consideration and upon the terms and conditions set <br />forth herein; and <br />WHEREAS, Collins is the sole shareholder of Purchaser. <br />NOW, THEREFORE, for and in consideration of the premises <br />and the mutual covenants contained herein, the parties hereto <br />agree as follows: <br />