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<br />and agree to correct and compensate for damages <br />incurred before entering. <br />III Summary <br />A. Likelihood of oil & gas or mining operations occur- <br />ring on Spirit Mountain Ranch. <br />1. It would be very difficult for anyone to con- <br />sider overcoming all of the various hurdles <br />required to move-in and begin production of <br />oil & gas or mining of coal or other minerals <br />in econo~aical quantities in today's market. <br />2. Since there are only 320 acres of mineral own- <br />ership deeded to Victor-American Company in <br />1946 and since of the 320 acres only 105 are <br />owned 100% by Victor-American ( and these <br />are not on contiguous 35 acre Parcels), the <br />possibility of subsequent lessors being able <br />to launch a successful attempt to drill for <br />oil & gas or mine for coal or other minerals <br />is very remote. <br />3. Sterling Petroleum Co, of Sterling, Kansas, did <br />drill and complete 3 coal-bed methane gas wells <br />on the property. The production from them was <br />very marginal and after sitting in a non-pro- <br />ductive status for several years, all of the <br />wells were plugged and abandoned by Olmstead <br />Oilf'ieltl Services in 1994. The owner of the <br />existing o11 & gas leases taken £rom Victor- <br />American ($vergreen Resources) made no attempt <br />to acquire these existing wells and use them <br />to pursue a gas play on the acreage they have <br />under lease. <br />Respectfully Submitted, <br />John D. Howard Jr. <br />Mountain Property Specialist <br />& Geologist <br />Member of': Rocky Mt. Assoc of <br />Geologists, American Associa- <br />tion of Petroleum Geologists, <br />Kansas Independent Oil & Gas <br />Association. <br />