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and Canon City. <br />Appendix 1 lists coal ownership within the Northfield and <br />Midfield Areas, along with mailing addresses as on file at the Fremont <br />County Courthouse. Two owners, the Slanovich Brothers and Santa Fe <br />Pacific Minerals control a majority of the land within both areas. <br />Gus and Dan Slanovich control the property designated as Slanovich and <br />as Chandler Creek Coal Company. (lailiano & Sons Coal also control <br />'large land holdings within the Midfield Area. <br />Currently projected as-received quality for the coals in the <br />Northfield Area is expected to have the following value ranges: <br />OCEAN V~,VE ROYAL OCRGE <br />BTU/lb. 10013 - 11995 8070 - 11549 <br />Moisture (~) 6.39 - 8.66 6.06 - 11.51 <br />psh ($) 6.69 - 19.88 7.35 - 32.80 <br />Sulfur (%) 0.57 - 2.59 0.87 - 2.25 <br />SO2/mn BTU .0.95 - 5.15 1.55 - 5.58 <br />Allowing for a 3.5' coal thiclmess cutoff, the Northfield Area <br />has 12.73 million tons of proven/probable coal reserves in the Royal <br />Gorge Seam and 24.04 million tons of coal reserves in the Ocean Wave <br />Seam. Presently none of the coal has been leased by EFCI. <br />Negotiations are ongoing with Gus and Dan Slanovich to acquire a 320 <br />acre expansion of the Southfield Mine. Santa Fe Pacific Minerals has <br />expressed an interest in selling all or portions of their properties, <br />but not in leasing their reserves in the areas. <br />Portal development will be necessary to exploit the combined <br />36.77 million ton reserve contained in the Northfield Area. The most <br />promising location is shown on Map 4, Proposed Lease / Development Map <br />and illustrates proposed development into the Ocean Wave Seam. <br />4 <br />