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<br />Snell ~ Wilmer RECEIVED <br />~.~.P. APR 1 3 2GC1 <br />April 13, 2001 <br />Page 2 Division of Minerals and Geology <br />Part II. Efforts Involving Frontier <br />On March 9, 2001, representatives of the State of Colorado (M. Long, R. Clark, C. <br />Linden, D. Berry) Frontier (W. Gorton, M. Mishler) and Powderhom (M. Jamison, R. Comer, E. <br />Fogel and T. Munno) participated either in person or by telephone in a discussion of the issues <br />involving the Frontier Bond of the Powderhom property. The meeting was very productive and <br />at the conclusion, the State agreed to evaluate the adequacy of the Frontier Reitisurance <br />Agreement with National Indemnity Company, among other things. To the best of our <br />knowledge, the State continues to conduct its evaluation and discuss coverage with Frontier. We <br />have not been informed as to the status of this activity. <br />Part III. Other Efforts and Activities <br />At the meeting discussed in Part II, the parties recognized the then pending NOV <br />abatement deadline. Powderhom timely requested an extension of time to abate the NOV, filed <br />its appeal of the NOV to the MLRB and moved to stay the action pending the outcome of the <br />State's discussions with Frontier. The State stipulated to the extension and has agreed to a May <br />23-24, 2001 hearing before the MLRB. Powderhom presently intends to rely on the papers it has <br />filed with the MLRB. <br />Please let me know should you have any questions regarding this report or any other <br />aspect of this matter. <br />Very truly yours, <br />Snell & Wilmer <br />//~~~~~ <br />Robert D. Comer <br />cc: Michael B. Long, Division Director, State of Colorado <br />Division of Minerals & Geology (Via Hand Delivery) <br />RDC <br />raxu.r <br />