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Snell &. Wilmer <br />L.L.P. <br />lAW OFFICES <br />1200 Seventeenth Street, Suite 1950 <br />Tabor Center <br />Denver, Colorado 80202 <br />(303)634-2000 <br />Fax: (303)634-2020 <br />www.swlaw.com <br />Robert D. Comer <br />303fi34-2015 <br />roomer@swlaw.com <br />RECEIVED <br />APR 1 3 2001 <br />Division of Minerals and Geology <br />April 13, 2001 <br />VIA HAND DELIVERY AND FACSIMILE TRANSMISSION <br />Cheryl A. Linden, Esq. <br />Robert D. Clazk, Esq. <br />Office of the Attorney General <br />1525 Sherman Street, 5th Floor <br />Denver, CO 80203 <br />iii iiiiiiiiniu iii <br />999 <br />PHOENI%. ARIZONA <br />TUCSON, ARIZONA <br />IRVINE, CALIPORNIA <br />DENY ER, COLORADO <br />SALT LAKE CITY, UTAN <br />Fax: 303-866-3558 <br />Fax: 303-866-5671 <br />Re: Fifth and Sixth Fortnightly Reports, NOV # CV-2000-010 <br />S&W File No. 38283.0001 <br />Deaz Cheryl and Bob: <br />This letter constitutes Powderhom's Fifth and Sixth Fortnightly Reports pursuant to the <br />Modified NOV. Powderhorn appreciates the willingness exhibited by the Colorado Division of <br />Minerals and Geology (DMG) and the Colorado Attorney Genera] to work with Powderhorn in <br />seeking to resolve the financial assurance issue created by the federal delisting of Frontier <br />Insurance Company ("Frontier"). <br />The report contains three parts. Part I identifies the efforts taken by Powderhorn during <br />the period between Mazch 9, 2001 and April 13, 2001, to obtain a replacement bond. Part II <br />identifies the steps taken by Powderhorn during this period to have Frontier obtain or provide an <br />alternative form of financial assurance. Part III identifies other activities undertaken by <br />Powderhorn during this period to resolve this matter. <br />Part I. Efforts To Obtain A New Bond <br />Powderhom has not initiated any new efforts during the intervening period to obtain a <br />replacement bond and awaits the outcome of negotiations between Frontier and the State of <br />Colorado as the State conducts its reseazch and evaluation into the adequacy of the Frontier <br />Reinsurance Agreement with National Indemnity Company (see Part II). <br />10236.1 <br />Member. LEX MUNDI, • `lobal avociauoR of iodepeRdeut law turns with memhen iR <br />the URiled Slates and 60 eouuvies Ibmughout the wosll <br />