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EXPLORATION AND PROSPECT DRILLING AGREEMENT <br />Made as of this 16th day of July, 2008 ( "Effective Date ") <br />This EXPLORATION AND PROSPECT DRILLING AGREEMENT ( "Agreement ") is <br />made by and between WILTON EARLE & SONS, with an address of 531 4t Ave,, Craig, <br />CO 81625 -3303 ( "LICENSOR ") and COLORADO COAL RESOURCES, LLC with an <br />address of 701 Market Street, Ste. 832, St. Louis, MO 63101 ( "LICENSEE "). In <br />consideration of the sum of $10.00, the receipt of which LICENSOR hereby <br />acknowledges, and in further consideration of the mutual covenants set forth below, <br />LICENSOR and LICENSEE agree as follows: <br />Exploration Rights. LICENSOR grants LICENSEE or its agents or subcontractors, <br />for the term of this Agreement, the nonexclusive right to enter the lands depicted or <br />described on Exhibit A attached hereto and depicted on map also attached hereto <br />and both incorporated herein by reference (the "Property "), from time to time, to <br />prospect for, drill, take core samples, conduct general surveying for infrastructure, <br />conduct archaeological surveys, vegetation surveys, conduct vibrosonic seismic line <br />surveys, excavate pits and use hand auger to determine and verify top soil depth, <br />and otherwise evaluate coal and other minerals and strata underlying the surface of <br />the Property. LICENSEE shall also have the nonexclusive right to perform all <br />studies necessary or convenient to obtain governmental approvals and permits <br />necessary for coal exploration and related operations. No new roads will be <br />constructed on LICENSOR'S Property, however LICENSEE shall have the right to <br />improve or enhance existing roads. <br />2. Compensation. LICENSEE shall pay LICENSOR the following amounts: <br />(a) For each drill hole site located by LICENSEE on Property (maximum of five <br />(5) holes), LICENSEE shall pay LICENSOR the sum of $2000. Payment for each <br />drill hole site shall be made to LICENSOR within forty -eight (48) hours of <br />LICENSEE accessing the subject drill hole site. In the event a hole is not drilled, no <br />payment shall be due. Payment for each drill hole site shall be considered full <br />compensation for all damages caused by such drilling operation. <br />(b) For all vibrosonic (truck mounted) seismic lines run of LICENSOR'S <br />Property, LICENSEE shall pay LICENSOR the sum of $0.50 per linear foot of <br />distance, but the total amount to be paid LICENSOR for such use of Property shall <br />not exceed $6000.00. LINCENSOR shall be advised of all seismic activity prior to <br />commencement and payment will be made at the conclusion of seismic operations <br />on Property and as soon as final distance is confirmed by LICENSEE and its <br />seismic contractor after field survey. <br />(c) For use of existing roads and two -track trails on the Property and any off - <br />road use where agreed to by LICENSOR for movement of vehicles, including the <br />drilling rig and other related vehicles, LICENSEE shall pay LICENSOR $1.00 per <br />