PERMFILE71244

• Permit No: C1982054
• IBM Index Class Name: Permit File
• Doc Date: 7/25/1990
• Doc Name: CARBON JUNCTION MINE PERMIT RENEWAL C-82-054
• From: PUEBLO COAL INC
• To: MLRD
• Media Type: D
• Archive: No

• PUEBLO COAL, INC. • III IIIIIIIIIIIIIIII
400 MIRST NATIONAL EVILDING
WIC VITA FALLS, TE%AO 76301 ggg
FNONC a17/32Z-Y461
July 25, 1990
Fred Banta, Director
State of Colorado
Mined Land Reclamation Division
215 Centennial Building
1313 Sherman Street
Denver, Colorado 80203-2273
Re: Carbon Junction Mine Permit Renewal
File No. C-82-054
Dear Mr. Banta:
In view of the hearing scheduled July Z5, 1990, at 11:00 A. M.,
this letter is to verify events and circumstances that are pertinent
to this hearing.
1, Oakridge Energy, Ina. has settled its lawsuit with Enserch
Corporation, eL al. A copy of the Notice of Compromise and
Settlement is enclosed.
2, The Bankruptcy Court has approved the Compromise and
Settlement Agreement.
3. Funds have been disbursed discharging Oakridge debt, as
well as Pueblo's guaranteed debt. Disbursements from the
escrow agent were as follows:
A. FAMCO $8,313,849.22
(Includes Pueblo bank debt)
B. Attorneys $5,066,766.52
C. Purchase of leases from
Enserch $3,500.000.DO
4. The remaining balance of $3,119,384,22 has been placed in
Oakridge account with Team Bank N. A. in Fort Worth.
Approximately $1,200,000 will be needed to discharge th~
balance of Oakridge and a portion of Pueblo's debt.
5. Team Bank N. A. of Fort Warth has been contacted regarding
the issuance of a lettez of credit for the reclamation
I bond. A meeting is scheduled for Friday , July 27, 1990.
We feel that the letter of credit will be in place and ^e
can have the bond in thirty days.