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iii iiiiiiiiniiiiii <br />999 <br />CLAREMONT EXPLORATION, INC. <br />P.O. BOX 549 <br />G~LAREMORE, OKLA. 74018 <br />September 13, 1988 <br />Mr. Mike Long <br />Mined Land Reclamation <br />215 Centennial Building <br />1313 Sherman Street <br />Denver, C O 80203 <br />Division SFp 15 1998 <br />RECT. MIATION fJD <br />DI Jf510fv <br />RE : La Plata Coal Corporation <br />Dear Mr. Long: <br />Attached is the schedule of events that summarizes the <br />involvement of Claremont Exploration, Inc., and of Dugan <br />Production Corporation and Flag-Redfern Oil Company, the <br />investing partners, with La Plata Coal Corporation and the <br />La Plata #1 mine at Durango, Colorado. <br />The important points to note are as follows: <br />1. None of the investing partners now have or have <br />ever had any ownership or control interest in La Plata Coal <br />Corporation. None of the individuals that are officers, <br />directors or shareholders of the investing partners are now <br />or have ever been an employee, officer, director or shareholder <br />of La Plata Coal Corporation. <br />2. The permittee and operator of La Plata #1 is now <br />and has always been La Plata Coal Corporation. Pursuant <br />to the order of the District Court of La Plata County, Colorado, <br />dated February 12, the investing partners are authorized only <br />to wind up the affairs of the partnership. <br />3. O n June 4, 1987, the partnership was dissolved by <br />La Plata Coal Corporation. Pursuant to Colorado law (C.R.S. <br />7-60-101, et seq•), upon dissolution the partnership terminated <br />for all purposes except the winding up of partnership affairs <br />and the authority of one partner (in this case, La Plata Coal <br />Corporation) to act for the partnership or to bind the other <br />partners, also terminated. Permit C-87-072 was issued to La <br />Plata Coal Corporation on November 20, 1987, long after the <br />iissolution of the partnership and over the objection of the <br />investing partners. Pursuant to Colorado law, the permitting <br />of the coal mine by La Plata Coal Corporation would not be <br />binding on the investing partners. <br />918341 6622 <br />