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<br />i1....... ~.i.• ....P,C...~~~~~_... In C;;i11:e:C1i011'.: i:. -~.~.'~}1 aL';~l:i?'.iL'OPJ. i1'C LOP.1La[iV 1$$InZQ OI~TCCcII~t~ ~~ .
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<br />~_:.:::: ~„ '.: ~; C~: cS.::.::. ~"L-,t~'iII i..4UIIll i. d:1GS1 iIICr~ :LOL1PaIIy 1:'IV OCCh l,ea¢at"~, HOriZOn COaI ~ .
<br />Services, Inc. ("Horizon"), and Western SyncoalsLLG.(`•:`3ynCoal'•.')~Basinformerly operated"the Golden "'` ='"'
<br />Ea~_le tiline west of T-iriciad; Colo :ado ane w~ a sun~t~a*v of Ente^h.asm c as„d ~per..nons m 190
<br />and is inactive. Westmoreland is se.,king to drsposa=of 13as~'s assets aarFobhsairons North Central .
<br />holds the land and water.riehts. associated wrtl~-ihennn~nu ~~i rannna.nt'Ra~,>T:as-wP1T ~~ ~..:.n,,, ,;,,.,o...l
<br />reserves 1_ocated m CaurQbeIl Counhy, Wyommg<at_t5e
<br />royalty of $.10 per ton covers the m'- ~'^~ of225 mrllron.
<br />$22,500,000. The latesrmine plan.dellvered.~o'~o'~
<br />mining ofcoal subjecfto the royalty will=begin~slate2C
<br />facility Iocated in Colstiip, Montana:and is mactcveIn J
<br />its physical assets to Westmoreland Power, Inc: and ther
<br />property rights and bench demonstration equipment:in e:
<br />obligations by the buyez. In addition, in 200_
<br />~~1
<br />Gascoyne, North Dakota m the Kmfe River acgwsihon.;
<br />~ ~ , , th Rt._.:_ .~:
<br />.: burn , ~ 1
<br />INDEPENDENT POWER OPERATIONS, ~,;-,i-3i.e~?.
<br />_~-_..._,..... ..v_...,.w
<br />Wesdnnreland Energy, LLC ("iYELLC"}.(foal}gr}yi~
<br />,_
<br />manages inte;est$ irLihdCR.~d~$~BA3~L-per'
<br />interests in three such power piolects, all of W~cli•aT,~ i7
<br />of the power and a single steam host. The,CRi9p~Ai1'1~.&
<br />plants is January and July:of eac};.~ .
<br />additional information concerning WELLC, incl. _,
<br />......
<br />. fr.°_1tcc-1Fl T
<br />WELLC' S independent power projects sell electricit}t:tly
<br />utilities. There aze three types of independentpq~teti~gj
<br />types of useful energy (e.g, electricity:aad;th ''~'-`
<br />primary fuel (e.g., coal); small'ppwer~pioducer~.: u
<br />resources as fuel; and exempt wholesale generators-('1E~
<br />the requirement to se1L theraial_eiieeigy_or use-
<br />invested is cogeneration projects and in prof
<br />independent power project aze a long-teen contract for t
<br />fuel supply, a suitable site, required permits and project
<br />long-term contract for the sale of the, steam or othe~;tl~
<br />cogeneration can be substantialbecaus~e,,iriadciitt~~~;~
<br />energy is sequentially used to produce steam~q}; , `ten
<br />processes. Electricity is sold to utilities and;,in,~q~ai~~
<br />including lazge industrial•facilitie~s~Segr}e{rt~~~~
<br />sold to commezcial enterprises an~o~hheA rush g
<br />plants in the chemical processing; petroleum refimng;~f<
<br />industries. ,,.::_tricitt~ ,
<br />~i'eshnoreland Power, Inc ('
<br />and to pursue new independe
<br />that it had submitted a propo:
<br />new state-of--the-art 500 MW
<br />Lignite Vision 21 ("LV-21';x:
<br />httpJ/www.sec.gov/Archive:
<br />~gonl- ; ° y`_ 'isa royalt~tnteiest m coat _~ ::.
<br />lt`Mme owned=by-Peahody_E,uergy: The -
<br />o~c;oal maIang the gross rovalty amount
<br />~eejf~dy~i g _in March 2003 indicates that
<br />SynGoalwas a3ynthehc coal"production _
<br />uy2003;SynCoal'transfeiied ownership of _. ,
<br />iCoal was sold.along tvitli.its i~ellectual ~=_x
<br />mge forassumption of certain liabilities and 1':
<br />Cthe right to develop the lignite deposits at
<br />~ ... -
<br />... _ ..
<br />--..
<br />e~Fmoreland Energy, Inc.); owns and
<br />~. -...
<br />9~l vgnqus-subsidurnes;:cuirently has
<br />inaL Each project has a single purchaser - _
<br />edtq,receive-distributions finm its ROVA __ -
<br />~sgli~iated Financial Statements for - -
<br />,._ .. _..
<br />y~prolect operational statistics. -
<br />h'lang-term power sales contracts to
<br />i;cogeneration projects -which provide two
<br />lt~:steatn); sequentially from a single
<br />""waste, Momass or other renewable
<br />);which provide electrical energy without
<br />ableriesources as fuel sources:. WELLC has
<br />'Gs. For WELLC, the key elements of an
<br />tle of electricity, long-term contracts for the
<br />icing. Cogeneration projects require another
<br />energy„ The economic benefits of
<br />electricity, a significant portion of the
<br />~Wre twater (thermal energy) for industrial
<br />,gnsa to, end-users of electrical power,
<br />i {~ogEgy, from the cogeneration plant is
<br />~~ users of.thermal energy include
<br />noces§ing, pharmaceutical, pulp and paper
<br />
<br />w~r')~~vasyfor>x}gj~ ' q elgert~in,}ights from Knife River Corporation
<br />t.power,cievelgpgt~~~hluary.-28,..2001, the Company announced
<br />1 to develop,;Qlv~can~ op~a~e„either independently or in partnership, a
<br />unite-fir„ed~o a ~c YneuNordr Dakota is connection with
<br />4VP~1~agt}ut~ ~qp~, e3rgmte; deposits at Gascoyne from
<br />~r t l0 t$aC~I-Il(i!e'J`d~ 1tt ~: ..
<br />~ , .~•~ i ,.b..lyd (114i~' I ITPe1RUR; . (, U. ...,
<br />:dear/data/106455I000010645503000050/wcc 1Ok02.htm 11/7/2006
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