<SEC-DOCUMENT>0001144204-15-015997.txt : 20150313
<SEC-HEADER>0001144204-15-015997.hdr.sgml : 20150313
<ACCEPTANCE-DATETIME>20150313165259
ACCESSION NUMBER:		0001144204-15-015997
CONFORMED SUBMISSION TYPE:	DEF 14C
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20150313
FILED AS OF DATE:		20150313
DATE AS OF CHANGE:		20150313
EFFECTIVENESS DATE:		20150313

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALLADOR ENERGY CO
		CENTRAL INDEX KEY:			0000788965
		STANDARD INDUSTRIAL CLASSIFICATION:	BITUMINOUS COAL & LIGNITE MINING [1220]
		IRS NUMBER:				841014610
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14C
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34743
		FILM NUMBER:		15699985

	BUSINESS ADDRESS:	
		STREET 1:		1660 LINCOLN ST STE 2700
		CITY:			DENVER
		STATE:			CO
		ZIP:			80264
		BUSINESS PHONE:		3038395505

	MAIL ADDRESS:	
		STREET 1:		1660 LINCOLN STREET
		STREET 2:		SUITE 2700
		CITY:			DENVER
		STATE:			CO
		ZIP:			80264

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALLADOR PETROLEUM CO
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK OIL & GAS CO /CO/
		DATE OF NAME CHANGE:	19900102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KIMBARK INC
		DATE OF NAME CHANGE:	19860624
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14C
<SEQUENCE>1
<FILENAME>v404430_def14c.htm
<DESCRIPTION>FORM DEF 14C
<TEXT>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNITED STATES <BR>
SECURITIES AND EXCHANGE COMMISSION <BR>
WASHINGTON, DC 20549</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><BR>
SCHEDULE 14C INFORMATION <BR>
Information Statement Pursuant to Section&nbsp;14(c) of the<BR>
 Securities Exchange Act of 1934 &nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Check the appropriate box:</FONT></TD></TR>
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 97%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Preliminary Information Statement</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Confidential, for Use of the Commission Only (as permitted by Rule
14c-5(d)(2)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Definitive Information Statement</FONT></TD></TR>
</TABLE>


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<P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_005.jpg" ALT="double logo" STYLE="height: 67px; width: 80px"></P>


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<P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>HALLADOR ENERGY COMPANY</B></FONT></P>

<P STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>(Name of Registrant As Specified in Charter)</B></FONT></P>



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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Payment of Filing Fee (Check the appropriate box):</FONT></TD></TR>
<TR>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 97%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">No Fee required.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Fee computed on table below per Exchange Act Rules 14c-5(g) and
0-11.</FONT></TD></TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(1)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 94%; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Title of each class of securities to which transaction applies:_________________________ </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(2)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Aggregate number of securities to which transaction applies:&nbsp;_________________________</FONT></TD></TR>
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    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(3)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):&nbsp;&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.1in; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Proposed maximum aggregate value of transaction:&nbsp;_________________________________&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Total fee paid:___________________________________ </FONT></TD></TR>
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    <TD STYLE="vertical-align: top; width: 3%"><FONT STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 97%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Fee paid previously
with preliminary materials</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Check box if
any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its
filing.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(1)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; width: 94%"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Amount Previously Paid:________________________________________&nbsp;&nbsp;</FONT></TD></TR>
<TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(2)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Form, Schedule or Registration Statement No.:______________________</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(3)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Filing Party:&nbsp;__________________________________________________</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">(4)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Date Filed:____________________________________________________ &nbsp;&nbsp;</FONT></TD></TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 62px; width: 296px"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dear Shareholders,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The 2015 Annual Meeting of Shareholders of Hallador Energy Company
will be held at 2:00 p.m. (NYC time) on Thursday, April 23, 2015 at the Yacht Club, 37 West 44<SUP>th</SUP> Street (between 5<SUP>th</SUP>
and 6<SUP>th</SUP> Avenue) in New York City, 10036-6613.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Only shareholders of record on February 27, 2015 are entitled
to this notice.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>SINCE THIS MEETING IS FOR INFORMATIONAL PURPOSES ONLY THERE
WILL BE NO VOTING.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT
TO SEND US A PROXY.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">A copy of the Information Statement and the Annual Report on
Form 10-K for the year ended December 31, 2014 will be hosted on our website, <U>www.halladorenergy.com</U>, on March 13, 2015.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Shareholders are encouraged to attend the meeting. If you plan
on attending, please RSVP by Wednesday, April 15, 2015 to Rebecca Palumbo at 303-839-5504, extension 316 or by e-mail to investorrelations@halladorenergy.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 184.5pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 184.5pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 184.5pt"></P>

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    <TD STYLE="width: 40%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 60%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">By order of the board of directors,</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;<IMG SRC="image_003.jpg" ALT="VICTOR_P_STABIO_SIGNATURE_BLUE" STYLE="height: 72px; width: 128px"></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">Victor P. Stabio</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black"></FONT><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">Chairman</FONT></P>

</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 184.5pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 184.5pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">March 9, 2015</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #000099">1660 Lincoln Street, Suite
2700, Denver, Colorado 80264, 303.839.5504</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #000099">www.halladorenergy.com</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #000099">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">INFORMATION STATEMENT AND NOTICE OF THE ANNUAL
MEETING OF SHAREHOLDERS</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Important notice regarding the availability
of the Information Statement for the </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Annual Meeting of Shareholders to be held
on April 23, 2015.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>This Information Statement and our Annual
Report on Form 10-K for the year ended </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>December 31, 2014 will be hosted on our
website at <U>www.halladorenergy.com </U>by March 13, 2015.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">TO OUR SHAREHOLDERS:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">NOTICE IS HEREBY GIVEN that the following actions were taken
pursuant to a written consent by a majority of our shareholders effective April 23, 2015:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></td>
    <TD STYLE="font-size: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The election of seven Directors to hold office until the 2016 Annual Meeting of Shareholders or until their respective successors are duly elected and qualified.</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><font style="font: 10pt Symbol">&middot;</font><font style="font: 10pt Arial, Helvetica, Sans-Serif"></font></td>
    <TD STYLE="font-size: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The 2014 compensation paid to our Named Executive Officers was approved. </font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><font style="font: 10pt Symbol">&middot;</font><font style="font: 10pt Arial, Helvetica, Sans-Serif"></font></td>
    <TD STYLE="font-size: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">The 2015 compensation to our Named Executive Officers was approved.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Board of Directors set February 27,
2015 as the record date (the &ldquo;Record Date&rdquo;) for determining the shareholders entitled to notice of the foregoing.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT
TO SEND US A PROXY.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">We have asked brokers and other custodians,
nominees and fiduciaries to forward this notice to the beneficial owners and will reimburse such persons for out-of-pocket expenses
incurred in forwarding such material.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">No proxies will be solicited in connection with this Information
Statement. The elimination of the need for voting at a meeting of shareholders to approve these actions is made possible by the
Colorado Business Corporation Act of the State of Colorado and our Bylaws.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This Notice of Annual Meeting, Information Statement and Annual
Report on Form 10-K for the year ended December 31, 2014 will be hosted on our website, <U>www.halladorenergy.com</U>. If you want
to receive free copies of these documents, please make your request to Hallador Energy Company, Attention: Rebecca Palumbo, 1660
Lincoln Street, Suite 2700, Denver, Colorado 80264 or by e-mail to investorrelations@halladorenergy.com or call 303-839-5504 extension
316.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>WHO CAN ATTEND THE MEETING?</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Any of our shareholders may attend the meeting. If you plan
on attending the meeting, please RSVP to Hallador Energy Company by April 15, 2015, via e-mail to <U>investorrelations@halladorenergy.com</U>,
or by telephone to 303-839-5504, ext. 316. Cameras, recording devices and other electronic devices will not be permitted at the
meeting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>ELECTION OF DIRECTORS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Pursuant to a written consent by a majority of our shareholders,
the following seven nominees have been elected to hold office until the 2016 Annual Meeting or until their successors are duly
elected and qualified. Each agreed to be named in this Information Statement and to serve on the Board. Five of our seven directors
are expected to attend our annual 2015 meeting; Sheldon Lubar, and John Van Heuvelen are not expected to attend.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0"><B>Information about Directors </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Below is information about each nominee, including biographical
data for at least the past five years and an assessment of the skills and experience of each nominee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">Name</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center">Age</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">Position(s) and year appointed</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 32%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">David C. Hardie</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 32%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">64</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; font: 10pt Arial, Helvetica, Sans-Serif">Director (1989)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">Steven Hardie</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">61</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Director (1994)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">Bryan H. Lawrence</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">72</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Director (1995)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">Sheldon B. Lubar</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">85</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Director (2008)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">John Van Heuvelen</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">68</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Director (2009)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">Victor P. Stabio</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center">67</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Chairman of the Board (2014) and Director (1991)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">Brent K. Bilsland</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt">41</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">President and CEO (2014) and Director (2009)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Our directors are appointed for a one-year term to hold office
until the next Annual Meeting of Shareholders or until removed from office. Each director will hold office after the expiration
of his term until his successor is elected and qualified, or until he resigns or is removed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>DAVID C. HARDIE </B></FONT>was our
Chairman of the Board until January 24, 2014.&nbsp; He continues to serve as a director, a position he has held since July 1989.&nbsp;
He is the Chairman of the Board and Chief Executive Officer of Hallador Investment Advisors Inc., which manages Hallador Equity
Fund, Hallador Cash Fund LP, Hallador Alternative Assets Fund, Hallador Special Holdings, and Hallador Balanced Fund. Mr. Hardie
is and serves as a director and partner of other private entities that are owned by members of his family and also serves as Chairman
of Parasol Tahoe Community Foundation.&nbsp; Mr. Hardie is a graduate of California Polytechnic University, San Luis Obispo.&nbsp;&nbsp;He
also attended the Owner/President Management program offered by Harvard Business School.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>STEVEN HARDIE</B> </FONT>has been
a director since 1994.&nbsp;&nbsp;He and David Hardie are brothers.&nbsp;&nbsp;For the last 29 years, he has been a private investor.&nbsp;
He is the Vice Chairman of Hallador Investment Advisors, which manages Hallador Equity Fund, Hallador Cash Fund LP, Hallador Alternative
Assets Fund and Hallador Balanced Fund. He also serves as a director and partner of other private entities owned by members of
his family.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Messrs. David and Steven Hardie have served as our board members
for the last 25 and 21 years, respectively.&nbsp;&nbsp;Both have been private investors in many companies over their careers and
served on numerous boards.&nbsp;&nbsp;At one time, the two brothers and their family owned over 50% of our stock.&nbsp;&nbsp;Currently,
the two brothers beneficially own through various entities about 13% of our stock giving them a vested interest in monitoring the
wellbeing of our Company, although Messrs. David and Steven Hardie disclaim any beneficial ownership in any other shares held by
such entities. Their significant broad experiences, as well as intimate knowledge of our Company, are significant benefits to us
in planning and executing our corporate strategy.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>BRYAN H. LAWRENCE </B></FONT>has
been one of our directors since November 1995.&nbsp; He is a founder and senior manager of Yorktown Partners LLC, which manages
investment partnerships formerly affiliated with Dillon, Read &amp; Co. Inc., an investment-banking firm (Dillon, Read).&nbsp;
He had been employed with Dillon, Read since 1966, serving most recently as a Managing Director until the merger of Dillon, Read
with SBC Warburg in September 1997.&nbsp; He also serves as a Director of Approach Resources, Inc. and Star Gas Partners, L.P.,
and certain non-public companies in the energy industry in which Yorktown partnerships hold equity interests.&nbsp;&nbsp;Mr. Lawrence
is a graduate of Hamilton College and has a MBA from Columbia University.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Lawrence, who controls about 34% of our stock, has been a
board member for the last 19 years. He sits on numerous boards for both private and public companies that are involved in the energy
business. His experience with us and in other energy companies, gives us a significant benefit. As most of our other board members,
he too has a significant indirect monetary investment in our Company and accordingly has a vested interest in our success.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>SHELDON B. LUBAR </B></FONT>was elected
to our board in July 2008. Since 1977, Mr. Lubar has been Chairman of the Board of Lubar &amp; Co. Incorporated, a private investment
and venture capital firm he founded. During the past five years he served on the board of Crosstex Energy, Inc., Crosstex Energy
L.P., and Ellora Energy and other private companies. Mr. Lubar currently serves on the board of Star Gas Partners L.P. and Approach
Resources, Inc. and on the boards of a number of private companies. Mr. Lubar holds a bachelor's degree in Business Administration
and a law degree from the University of Wisconsin-Madison. He was awarded Honorary Doctorate degrees from the University of Wisconsin-Milwaukee,
University of Wisconsin-Madison and the Medical College of Wisconsin.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Lubar, who controls just under 10% of our stock, has been
on our board for about seven years.&nbsp;&nbsp;Mr. Lubar is a very successful entrepreneur and sits on numerous boards in the energy
business along with Mr. Lawrence. With his 10% stake, he too has a vested interest in our success.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>JOHN VAN HEUVELEN</B> </FONT>was
appointed to our board in September 2009. Additionally, he is a member of the board of directors of MasTec, Inc. (NYSE:MTZ), a
position he has held for the last 13 years. At MasTec, Mr. Van Heuvelen is a lead director who also serves on the executive, nominating
and audit committees. MasTec is a $4 billion (revenue) specialty contractor in the power generation and transmission industry.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Van Heuvelen is also a member of the board of directors of
Orchid Island Capital (NYSE), a residential mortgage REIT. Since February 2013, Mr. Van Heuvelen has served as Orchid Island&rsquo;s
audit committee chairman, lead director and as a member of the compensation committee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Van Heuvelen was formerly audit chair and chairman of
the board at LifeVantage (OTC: LFVN). For the last 16 years, Mr. Van Heuvelen has been a private equity investor based in
Denver, Colorado. His investment activities have included private telecom and technology firms, where he remains active.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Previously, Mr. Van Heuvelen spent 14 years with Morgan Stanley
and Dean Witter Reynolds in various senior management positions in the asset management unit, investment trust and municipal bond
divisions before serving as president of Morgan Stanley Dean Witter Trust Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Early in his career, Mr. Van Heuvelen was actively involved in
the energy business while living in Montana. Mr. Van Heuvelen&rsquo;s contacts with investment banking firms will prove invaluable
to us as we seek to grow our Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>VICTOR P. STABIO</B> </FONT>was appointed
our Chairman of the Board and stepped down as CEO on January 24, 2014. Mr. Stabio has been with us since March 1991 and has been
active in oil and gas exploration and production for the past 37 years and coal mining for the past 10 years. Mr. Stabio is a director
of Savoy Exploration, the general partner of Savoy Energy, LP, of which we own 40%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Stabio has a personal investment in us and owns 177,596 shares
of our stock, and has 240,000 Restricted Stock Units (&ldquo;RSUs&rdquo;) that will lapse/vest equally over three years annually
in December. He has been responsible principally for our business strategy since March 1991. His industry experience and vision
are a primary component of our successful operations since that time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>BRENT K. BILSLAND</B> </FONT>was
named our CEO on January 24, 2014 and has been our President and director since September 2009. He has been President of Sunrise
Coal, LLC, our primary operating subsidiary, since July 31, 2006. Previously, Mr. Bilsland was Vice President of Knapper Corporation;
a family owned farming business from 1998 to 2004.&nbsp;&nbsp;Mr. Bilsland is a graduate of Butler University located in Indianapolis,
Indiana.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Mr. Bilsland brings broad industry experience and significant
operational capabilities to our Company. He has an intimate understanding of our business and its operations that benefits us.
He also has a personal investment in us and owns 985,368 shares of our stock and has 300,000 RSUs which will lapse/vest equally
over three years annually in December.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We believe that board members who are willing and able to have
a sizable portion, or in some case a substantial portion, of their personal net worth invested in us tend to be conscientious directors.&nbsp;&nbsp;In
other words, our directors&rsquo; interests are closely aligned with our shareholders&rsquo; interests.&nbsp;&nbsp;If our stock
increases, our directors&rsquo; benefit directly and so do our other shareholders.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Officers are appointed by and serve at the
discretion of the Board.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>INFORMATION REGARDING BOARD OF DIRECTORS AND COMMITTEES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Criteria for Director Nominations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">General criteria for the nomination of director candidates include
experience and successful track record, integrity, skills, ability to make analytical inquiries, understanding of our business
environment, and willingness to devote adequate time to director duties, and diversity (although no formal policy exists, considered
along with the aforementioned factors), all in the context of the perceived needs of the Board at that time. Stock ownership could
also be a consideration.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Board Leadership Structure</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">The Board does not have a policy regarding
the separation of the roles of CEO and Chairman of the Board, as our Board believes it is in our best interests to make that determination
based on our position and direction, and membership of the Board. Currently, the position of CEO and Chairman are separate, with
Victor Stabio serving as Chairman of the Board and Brent Bilsland serving as the CEO.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">The Board believes that separating these
roles allows the CEO the opportunity to focus on running our business and managing the day-to-day challenges, while providing the
Board the opportunity to benefit from the Chairman's ability to support the other members of the Board and work closely with the
other members of the executive team.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Director Independence</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As required by NASDAQ rules, the Board will evaluate the independence
of its members at least annually, and at other appropriate times when a change in circumstances could potentially impact a director&rsquo;s
independence or effectiveness (e.g., in connection with a change in employment status or other significant events). This process
is administered by our Audit Committee, which consists entirely of directors who are independent under applicable NASDAQ and SEC
rules. After considering all relevant relationships with us, the Audit Committee submits its recommendations regarding independence
to the full Board, which then makes a determination with respect to each director.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In making independence determinations, our Audit Committee and
Board consider relevant facts and circumstances, including (i)&nbsp;the nature of any relationships with us, either directly or
as a partner, shareholder or officer of an organization that has a relationship with us, (ii)&nbsp;the significance of the relationship
to us, the other organization and the individual director, (iii)&nbsp;whether or not the relationship is solely a business relationship
in the ordinary course for us and the other organization and does not afford the director any special benefits, and (iv)&nbsp;any
commercial, industrial, banking, consulting, legal, accounting, charitable and familial relationships. For purposes of this determination,
the Board deems any relationships that have expired more than three years ago to be immaterial.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">After considering the standards for independence adopted by NASDAQ
and various other factors as described herein, the Board has determined that all directors other than Messrs.&nbsp;Stabio and Bilsland
are independent. None of the directors, other than Mr.&nbsp;Van Heuvelen, receives any compensation from us.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Policy for Approval of Related Person Transactions</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Audit Committee is responsible for reviewing and approving
all related party transactions in accordance with our written policy. Such transactions are generally reviewed before entry into
the related person transaction. In addition, if any of our specified officers or directors becomes aware of a related party transaction
that has not been previously approved or ratified, such related person transaction will be promptly submitted thereafter to the
Audit Committee for its review. In reviewing a transaction, the Audit Committee considers the relevant facts and circumstances,
including the benefits to us, any impact on director independence and whether the terms are consistent with a transaction available
on an arms-length basis. Only those related person transactions that are determined to be in (or not inconsistent with) our best
interests are permitted to be approved. No member of the Audit Committee may participate in any review of a transaction in which
the member or any of his or her family members is the related person.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1F497D"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>BOARD OF DIRECTORS MEETINGS AND COMMITTEES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We had eight Board meetings during 2014. All members attended
at least 75% of the meetings. Other Board actions were taken by written unanimous consent.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Director Attendance at the
2014 Annual Meeting</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Sheldon Lubar and Bryan Lawrence did not attend.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #365F91">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Committee Composition</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #365F91">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 24%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Name</FONT></TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 24%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Audit
    <BR>Committee</FONT></TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 23%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Compensation
    <BR>and <BR>Nominating <BR>Committee</FONT></TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 23%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Executive
    <BR>Committee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">David C. Hardie</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="color: Black">Chairman</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Steven Hardie</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Bryan H. Lawrence</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Sheldon B. Lubar</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">John Van Heuvelen</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="color: Black">Chairman
    and Financial Expert</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">X</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Victor P. Stabio</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="color: Black">Chairman</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Brent
    K. Bilsland</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="color: Black">X</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Audit Committee and Financial
Expert</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Audit Committee met four times during 2014. The Audit Committee
assists the Board in fulfilling its oversight responsibilities with respect to: (i) the integrity of the financial reports and
other financial information provided by us to the public or any governmental body; (ii) our compliance with legal and regulatory
requirements; (iii) our systems of internal controls over financial reporting; (iv) the qualifications and independence of our
independent auditors; (v) our auditing, accounting, and financial reporting processes generally; and (vi) the performance of such
other functions as the Board may assign from time to time. To this end, the Audit Committee will maintain free and open communication
with the Board, the independent auditors, and any other person responsible for our financial management.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #365F91"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Compensation and Nominating
Committee</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In January 2014, the Board increased the Compensation and Nominating
Committee from three to five members. It held three meetings in 2014. The purpose of our Compensation and Nominating Committee
is to (1) oversee our executive and director compensation; (2) oversee and administer our stock incentive plans; (3) assist our
Board by identifying individuals qualified for election and re-election as Board members and to recommend to our Board the director
nominees for each annual meeting of shareholders, subject to the provisions of any shareholder or similar agreement binding on
us; (4) recommend to the Board director nominees for each committee of the Board, subject to the provisions of any shareholder
or similar agreement binding on us; and (5) act on specific matters within its delegated authority, as determined by the Board
from time to time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">All Compensation Committee members are &ldquo;independent&rdquo;
as defined by the NASDAQ listing standards, including those standards applicable specifically to compensation committee members.
In addition, no member of the Compensation Committee has served as one of our officers or employees at any time. All members of
the Compensation Committee are &ldquo;non-employee directors&rdquo; as defined in SEC rules.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Executive Committee</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Our Executive Committee did not meet during 2014. When the Board
is not in session, the Executive Committee has all of the power and authority as delegated by the Board, except with respect to:
(i) amending our articles of incorporation and bylaws; (ii) adopting an agreement of merger or consolidation; (iii) recommending
to shareholders the sale, lease or exchange of all or substantially all of our property and assets; (iv) recommending to shareholders
our dissolution or revocation of any dissolution; (v) declaring a dividend; (vi) issuing stock; (vii) appointing members of Board
committees;&nbsp;and (viii) changing major lines of business.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>DIRECTOR COMPENSATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Other than Mr. Van Heuvelen, our outside directors receive no
compensation for their services but they are reimbursed for reasonable expenses in attending meetings. Mr. Van Heuvelen is paid
$100,000 per year. He has the option to be paid in cash or shares of our stock. Since 2009, he has elected to be paid in stock.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>AUDIT COMMITTEE REPORT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>The Audit Committee evaluates the performance
of EKSH, including the senior audit engagement team, each year and determines whether to reengage EKSH or consider other audit
firms. In doing so, the Audit Committee considers the quality and efficiency of the services provided by EKSH and their technical
expertise, tenure as our independent auditors and knowledge of our operations and industry. Based on this evaluation, the Audit
Committee decided to engage EKSH&nbsp;as our independent auditors for the year ended December 31, 2014. The Audit Committee reviewed
with senior members of our financial management team and EKSH the overall audit scope and plans,&nbsp;and the quality of our financial
reporting. The Audit Committee has the sole authority to appoint the independent auditors.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>Management has reviewed and discussed
the audited financial statements in our Annual Report on Form 10-K with the Audit Committee including a discussion of the quality,
not just the acceptability, of the accounting principles, the reasonableness of significant accounting judgments and estimates,
and the clarity of disclosures in the financial statements. In addressing the quality of management&rsquo;s accounting judgments,
members of the Audit Committee asked for management&rsquo;s representations and reviewed certifications prepared by the&nbsp;CEO
and the CFO&nbsp;that our unaudited quarterly and audited consolidated financial statements fairly present in all material respects,
our financial condition, results of operations and cash flows, and have expressed to both management and EKSH their general preference
for conservative policies when a range of accounting options is available.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>In its meetings with EKSH, the Audit
Committee asks them to address, and discusses their responses to, several questions that the Audit Committee believes are particularly
relevant to its oversight.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>These questions include:</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; width: 0.25in"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>&bull;</i></font></td>
    <TD STYLE="text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Are there any significant accounting judgments or estimates made by management in preparing the financial statements that would have been made differently had EKSH themselves prepared and been responsible for the financial statements?</i></font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>&bull;</i></font></td>
    <TD STYLE="text-align: justify"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><i>Based on EKSHs&rsquo; experience, and their knowledge of us, do our financial statements fairly present to investors, with clarity and completeness, our financial position and performance for the reporting period in accordance with generally accepted accounting principles and SEC disclosure requirements?</i></font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>The Audit Committee believes that, by
thus focusing its discussions with EKSH, it can promote a more meaningful dialogue that provides a basis for its oversight judgments.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>The Audit Committee also discussed with&nbsp;EKSH
those matters required to be discussed by the auditors with the Audit Committee under the rules adopted by the Public Company Accounting
Oversight Board (PCAOB). The Audit Committee received the written disclosures and the letter from&nbsp;EKSH required by applicable
requirements of the PCAOB regarding&nbsp;EKSH's communication with the Audit Committee concerning independence, and has discussed
with&nbsp;EKSH their independence. </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>In performing all of these functions,
the Audit Committee acts in an oversight capacity. The Audit Committee reviews our quarterly and annual reports on Form 10-Q and
Form 10-K prior to filing with the SEC. In its oversight role, the Audit Committee relies on the work and assurances of management,
which has the primary responsibility for establishing and maintaining adequate internal control over financial reporting and for
preparing the financial statements, and other reports, and of EKSH, who are engaged to audit and report on our consolidated financial
statements.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>In reliance on these reviews and discussions,
and the reports of EKSH, the Audit Committee has recommended to the Board of Directors, and the Board has approved, that the audited
financial statements be included in our Annual Report on Form 10-K for the year ended December 31, 2014, for filing with the SEC.</I></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>MEMBERS OF THE AUDIT COMMITTEE:</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>John Van Heuvelen-Chairman, David C. Hardie and Sheldon B.
Lubar</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Board Risk Oversight</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Our Board has ultimate responsibility for general oversight of
risk management processes. The Board receives regular reports from Mr. Bilsland on areas of risk we face. Our risk management processes
are intended to identify, manage and control risks so that they are appropriate considering our scope, operations and business
objectives. The full Board (or the appropriate committee in the case of risks in areas for which responsibility has been delegated
to a particular committee) engages with the appropriate members of management to enable its members to understand and provide input
and oversight of our risk identification, risk management and risk mitigation strategies. The Audit Committee also meets without
management present to, among other things, discuss our risk management culture and processes. In the event a committee receives
a report from a member of management regarding areas of risk, the Chairman of the relevant committee will report on the discussion
to the full Board to the extent necessary or appropriate. This enables the Board to coordinate risk oversight, particularly with
respect to interrelated or cumulative risks that may involve multiple areas for which more than one committee has responsibility.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Compensation Committee Risk Assessment</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In 2014, the Compensation Committee reviewed and discussed an
internal risk assessment of our executive and non-executive compensation programs and the outcomes of such assessment. Based on
such review, the Compensation Committee believes that our compensation programs (i) do not motivate our executives or our non-executive
employees to take excessive risks, (ii) are aligned with shareholders&rsquo; best interests, and (iii) are not reasonably likely
to have a material adverse effect on us. Our compensation programs are designed to support, reward appropriate risk taking, and
include the following:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">A proper balance of operating and financial performance;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Long-term performance periods; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Multi-year vesting schedules for RSUs.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Corporate Governance Matters</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Good corporate governance is a priority to us. Our key governance
practices are outlined in our committee charters, and Code of Conduct. These documents can be found on our website, <FONT STYLE="color: blue">www.halladorenergy.com</FONT>
by clicking on &ldquo;Corporate Governance,&rdquo; and are available in print to any Shareholder, without charge, upon request.
Information on our website is not considered part of this Information Statement. The Code of Conduct applies to our directors,
executive officers and our other personnel. Any updates or amendments to the Code of Conduct will be posted on the website.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Audit Committee and Compensation and Nominating&nbsp;Committee
of the Board are responsible for reviewing the Corporate Governance Guidelines annually and reporting and making recommendations
to the Board concerning corporate governance matters.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table sets forth certain information regarding
the beneficial ownership of our common stock as of February 27, 2015 by (i) each person who is known by us to own beneficially
more than five&nbsp;percent of our outstanding voting stock; (ii) each of our directors; (iii) each of our executive officers;
and (iv) all of our executive officers and directors as a group. As of February 27, 2015, the Record Date, 28,962,711 shares of
our common stock were issued and outstanding.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">Name and Address <BR>of Beneficial Owner</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Shares of Common <BR>Stock Beneficially <BR>Owned</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">RSUs Vesting within 60 Days</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Total Shares of Common Stock Beneficially Owned <sup>(1)</sup> </b></font></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>&nbsp;</b></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>&nbsp;</b></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>Percent <sup>(2)</sup></b></P></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Hardie Family Shares <sup>(3)</sup></b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>940 Southwood Blvd.</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Suite 201</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Incline Village, NV 89451</b></P></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,771,641</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,771,641</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">13.0</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Yorktown Energy Partners <sup>(3)</sup></b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>410 Park Avenue</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>New York, NY 10022</b></P></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9,700,727</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9,700,727</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">33.5</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">Lubar Equity Fund LLC <BR>700 North Water Street <BR>Suite 1200 <BR>Milwaukee, WI 53202</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,788,685</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,788,685</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9.6</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>David and Steven Hardie <sup>(4)</sup></b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>940 Southwood Blvd.</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Suite 201</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Incline Village, NV 89451</b></P></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,771,641</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,771,641</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">13.0</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Bryan H. Lawrence <sup>(5)</sup></b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>410 Park Avenue</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>New York, NY 10022</b></P></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9,991,022</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9,991,022</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">34.5</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Sheldon B. Lubar <sup>(6)</sup></b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>700 North Water Street</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Suite 1200</b></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b>Milwaukee, WI 53202</b></P></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,788,685</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,788,685</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">9.6</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">John Van Heuvelen <BR>1660 Lincoln Street <BR>Suite 2700 <BR>Denver, CO 80264</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">77,548</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">77,548</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">*</font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Victor P. Stabio <sup>(7)</sup></b></font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">177,596</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">177,596</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">*</font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Brent K. Bilsland <sup>(8)</sup></b></font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">985,368</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">985,368</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3.4</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left">W. Anderson Bishop</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">236,392</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">236,392</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">*</font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Lawrence D. Martin <sup>(9)</sup></b></font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">74,878</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">10,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">84,878</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">*</font></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">All the Officers and Directors as a group (9 persons)</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">18,103,130</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">10,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">18,113,130&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">62.5</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">* Indicates beneficial ownership
of less than 1% of the total outstanding common stock.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(1)</I></TD><TD><I>Includes shares of common stock held as well as shares of common stock subject to the Restricted Stock Unit Plan that lapse
within 60 days of the Record Date.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(2)</I></TD><TD><I>Based on shares issued and outstanding as of the Record Date. Additionally, shares of common stock subject to the Restricted
Stock Unit Plan that vest within 60 days of February 27, 2015, are deemed to be outstanding and to be beneficially owned by the
person holding such shares for the purpose of computing the percentage ownership of such person, but are not treated as outstanding
for the purpose of computing the percentage ownership of any other person or group.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(3)</I></TD><TD><I>Hallador Alternative Assets Fund LLC (&ldquo;HAAF&rdquo;) beneficially owns 3,093,558 shares.&nbsp;&nbsp;Robert C. Hardie
QTIP Trust beneficially owns 556,358 shares.&nbsp;&nbsp;Hallador Special Holdings beneficially owns 86,755 shares.&nbsp;&nbsp;Steven
Robert Hardie Trust beneficially owns 21,489 shares. Sandra Hardie Trust beneficially owns 13,481 shares. </I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.45in"><I>Mr. David Hardie, the reporting person, is a 25%
beneficiary of the Robert Hardie QTIP Trust, the holder of the securities and disclaims beneficial ownership of the securities
except to the extent of his pecuniary interest therein. Hallador Special Holdings, LLC is owned by David and Steven Hardie and
their immediate family and is a private equity investment fund directed or controlled by its managing members, Hallador Management
LLC, David C. Hardie and Steven Hardie. Hallador Alternative Assets Fund LLC is a limited liability company organized under the
laws of the State of Delaware (&quot;HAAF&quot;). HAAF is a private equity investment fund directed or controlled by its managing
members, Hallador Management LLC, David C. Hardie and Steven Hardie.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.45in"><I>Mr. Steven Hardie, the reporting person, is a 25%
beneficiary of the Robert Hardie QTIP Trust, the holder of the securities and disclaims beneficial ownership of the securities
except to the extent of his pecuniary interest therein. Hallador Special Holdings, LLC is owned by David and Steven Hardie and
their immediate family and is a private equity investment fund directed or controlled by its managing members, Hallador Management
LLC, David C. Hardie and Steven Hardie. Hallador Alternative Assets Fund LLC is a limited liability company organized under the
laws of the State of Delaware (&quot;HAAF&quot;). HAAF is a private equity investment fund directed or controlled by its managing
members, Hallador Management LLC, David C. Hardie and Steven Hardie. Mr. Steven Hardie is also trustee of the Steven Robert Hardie
Trust, which owns 21,489 shares of our stock. &nbsp;In addition, the Sandra W. Hardie Revocable Family Trust owns 13,481 shares.
Mr. Steven Hardie&rsquo;s spouse, Sandra Hardie, is trustee. Mr. Steven Hardie disclaims any beneficial ownership in any other
shares held by the above-described entities.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(4)</I></TD><TD><I>Includes 1,050,637 shares owned by Yorktown Energy Partners, VI L.P., 5,700,090 shares owned by Yorktown Energy Partners,
VII L.P., and 2,950,000 shares owned by Yorktown Energy Partners VIII, L.P. </I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(5)</I></TD><TD><I>Mr. Lawrence owns 290,295 shares directly. The remainder is held by Yorktown Energy Partners VI, L.P., Yorktown Energy Partners
VII, L.P., and Yorktown Energy Partners, VIII L.P., each affiliated with Mr. Lawrence. He disclaims beneficial ownership of the
shares held by each entity.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(6)</I></TD><TD><I>Includes 2,788,685 shares owned by Lubar Equity Fund LLC.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(7)</I></TD><TD><I>Includes 7,000 shares owned by Mr. Stabio&rsquo;s spouse. Mr. Stabio disclaims beneficial ownership of such shares.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(8)</I></TD><TD><I>Includes 428,917 shares owned by Mr. Bilsland&rsquo;s spouse and minor children. Mr. Bilsland disclaims beneficial ownership
of such shares.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-indent: -13.5pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><I>(9)</I></TD><TD><I>Includes 10,000 Restricted Stock Units that vest on April 1, 2015. </I></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in"><I></I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>ADVISORY APPROVAL OF OUR NAMED EXECUTIVES&rsquo;
COMPENSATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>In 2014, a majority of our shareholders voted to have a &ldquo;Say
on Pay&rdquo; vote every year.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This advisory vote, commonly referred to as a &ldquo;say-on-pay&rdquo;,
is not binding on the Board. However, the Board and the Compensation Committee considers the voting results when evaluating our
executive compensation program.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>Pursuant to a written consent of a majority of our shareholders,
the compensation paid to our Named Executive Officers (&ldquo;NEOs&rdquo;) for 2014 as disclosed pursuant to Item 402 of Regulation
S-K, including the compensation tables and narrative discussion below, was approved.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We also included a compensation table that covers the last six
years, 2009-2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Our NEOs are at-will employees and they do not have employment
agreements. Nor do they have any retirement benefits other than participating in the same 401(k) Plan that is offered to all employees.
They also participate in the same health benefit programs that are offered to all of the employees and their families. We believe
in a compensation program that emphasizes direct compensation rather than perquisites and other benefits.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I></I></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The basis of our compensation philosophy is to align our NEOs&rsquo;
compensation with the long-term interests of our shareholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Although we do not require our officers to own any particular
amount of equity in us, as set forth in the ownership table above, our CEO holds shares of our common stock worth several millions
of dollars. Accordingly, we believe that his interests are aligned with the interests of our shareholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Furthermore, the members of the Compensation and Nominating Committee,
which approve our NEOs&rsquo; compensation, collectively control 57.4% of our shares. In other words, they too have a significant
equity interest in us and are a testament of the appropriateness of our NEOs&rsquo; compensation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">As set forth in the compensation table disclosing our NEOs&rsquo;
compensation based on Form W-2s filed with the IRS, our NEOs at risk compensation was over 58% for each of the last five years
for Mr. Bilsland, Mr. Stabio and Mr. Bishop. Mr. Martin&rsquo;s at risk compensation for the past three years has been over 31%.
We believe that these percentages clearly indicate that we provide substantial, meaningful incentives with regard to our philosophy
of alignment of NEO compensation with the interests of our shareholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><FONT STYLE="text-transform: uppercase"><B>Advisory
APPROVAL ON FUTURE COMPENSATION FOR EXECUTIVES</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>Pursuant to a written consent of a majority of our shareholders,
it was resolved that future compensation to our executive officers was approved as set forth in the table &ldquo;2015 Future Compensation
to NEOs&rdquo;. With regard to the issuance of the RSU awards, such RSUs will lapse/vest only if performance criteria established
by the Compensation Committee are met. </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I STYLE="text-decoration: none; font-style: normal; font-weight: normal">The Board determined that the </I>purchase of Vectren Fuels,
Inc. effective August 29, 2014 met our 2014 goals set for success. Specifically, the performance criteria included criteria for
a successful purchase of Vectren Fuels, Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Compensation Committee set three performance criteria for
success including consummating the purchase of Vectren Fuels, Inc. at a reasonable fair market value, structuring our bank debt
using an administrative agent to structure a new debt vehicle and executing on an integration plan that included the successful
transition of skilled and motivated workers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">These measures encompass both the economies of the acquisition
transaction and maximizing the accretive nature of the acquisition.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Subsequent to the closing of the acquisition of Vectren Fuels,
Inc., the Compensation Committee reviewed documented materials regarding each of the three performance criteria and concluded that
performance of each of the criteria was successful.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Based on these measures of successful performance, the Committee
registered no objection to the lapsing of awarded RSUs scheduled to lapse December 16, 2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Committee also approved a future cash bonus of 3% of
the agreed-upon value of Hallador Energy Company&rsquo;s interest in Savoy Energy, L.P. to Victor Stabio. The cash bonus has
been earned by Mr. Stabio based on his initial and instrumental support in initiating the investment in Savoy Energy, L.P.
and his representation of Hallador Energy Company&rsquo;s interest in the investment for the previous ten years and into the
future.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Additionally, the Committee approved cash bonus payments in the
aggregate amount of $3.5 million to the NEOs and a certain employee. $1.2 million was paid on December 20, 2014, for leading extraordinary
work that resulted in successfully meeting goals for a successful purchase of Vectren Fuels, Inc. The remainder is to be paid in
December 2015 if our EBITDA (earnings before interest, taxes, depreciation, amortization) is $100 million or more.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">Name</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 58%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Brent Bilsland</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">429,000</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">871,000</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">1,300,000</TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Lawrence D. Martin</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">214,500</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">435,500</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">650,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">Victor Stabio</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">198,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">402,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">600,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">W. Anderson Bishop</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">99,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">201,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">300,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">Employee</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">214,500</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">435,500</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">650,000</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">Total</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">1,155,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">2,345,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">3,500,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Finally, the Compensation Committee established a performance
goal of $75 million in EBITDA for 2015 when considering the 2015 lapsing of RSUs.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Compensation Committee confirmed that the goal for awarding
cash bonuses in 2015 and the goal for finding no objection to the lapsing of awarded RSUs in 2015 have been set at different levels
in recognition of the long time use of awarding full value equity to officers in order to align their interests with retail and
institutional shareholders. Meeting the goal for lapsing of RSUs in 2015 of EBITDA equal to or greater than $75 million confirms
that the continued stewardship over a long-term horizon requires as much or more tenacity and long-term planning than meeting higher
short-term goals.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Compensation Committee intends to establish annual performance
goals relating to NEO compensation for 2016 and beyond.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>SHAREHOLDER COMMUNICATIONS WITH OUR BOARD </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">We invite shareholders to send written communications to the
entire Board or to individual Board members. Please send your letter in care of the Chairman at the address show on the front page
of this Information Statement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">If a shareholder communication raises concerns about management
or our ethical conduct, you can report it confidentially by e-mail at <U>http://www.openboard.info/hpco/</U> or by telephone to
866-229-6923. The communications submitted through this hotline are forwarded to the Chairman of our Audit Committee and, if appropriate,
the Audit Committee will take such actions as it authorizes to ensure that the subject matter is addressed by the appropriate
Board committee, management and/or by the full Board.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">If a shareholder or other interested person seeks to communicate
exclusively with our non-management directors, such shareholder communication should be sent directly to the Corporate Secretary
who will forward any such communications directly to the Chair of the Audit Committee. The Corporate Secretary will first consult
with and receive the approval of the Chair of the Audit Committee before disclosing or otherwise discussing the communication with
members of management or directors who are members of management.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At the direction of the Board, we reserve the right to screen
all materials sent to its directors for potential security risks, harassment purposes or routine solicitations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Shareholders have an opportunity to communicate with the Board
at our Annual Meeting of Shareholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Chairman shall be the spokesperson for the Board except in
circumstances where the inquiry or comment is about the Chairman. In such instances, the Chairman of the Audit Committee shall
become the spokesperson.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>INFORMATION ABOUT OUR NAMED EXECUTIVE OFFICERS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Named Executive Officers</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 49%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">NEO</FONT></TD><TD STYLE="width: 2%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">Position</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="color: Black">Victor Stabio</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">Chairman</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="color: Black">Brent Bilsland</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="color: Black">President
    and CEO <BR></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="color: Black">W. Anderson
    Bishop</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="color: Black">CFO, Hallador
    Energy Company</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Lawrence
    D. Martin</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">CFO,
    Sunrise Coal, LLC</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Information about Non-Director NEOs</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>W. ANDERSON BISHOP</B></FONT>, 61,
CPA, was named our CFO and Chief Accounting Officer in September 2009.&nbsp;&nbsp;He was our CFO and a board member during 1990-1993.&nbsp;&nbsp;From
1975 through 1990, he was with Price Waterhouse, predecessor to PricewaterhouseCoopers, in their Oklahoma City and Denver offices.&nbsp;&nbsp;Mr.
Bishop graduated from the University of Oklahoma in 1975.&nbsp;&nbsp;From 1993 to March 2009, he was the Executive Vice President,
CFO and 1/3 owner of the SEC Institute Inc., a private company in the business of training employees of private and public companies
in the filing and reporting requirements of the U.S. Securities and Exchange Commission.&nbsp;&nbsp;During those 16 years, he also
assisted us in preparing our SEC filings. In July 2009, he sold his interest in such company and is no longer involved with the
SEC Institute.&nbsp;&nbsp;He also served on the audit committee of SemGroup Energy Partners, L.P., now called Blueknight Energy
Partners, L.P. (NASDAQ:BKEP) from July 2007 through July 2008.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: red"><B>LAWRENCE D. MARTIN</B></FONT>, 49,
CPA, was appointed Chief Financial Officer of Sunrise Coal, LLC, our primary operating subsidiary, in January 2008.&nbsp;&nbsp;Prior
to his employment with Sunrise in October 2007, he worked 19 years for CliftonLarsonAllen from January 1989 to October 2007.&nbsp;(Due
to a merger, Clifton Gunderson is now called CliftonLawsonAllen LLP.) Mr. Martin was a Senior Manager in Tax for the previous six
years and an Audit Senior Manager for the five preceding years.&nbsp;&nbsp;&nbsp;Mr. Martin is a graduate from Indiana State University
and received his Bachelor of Science degree in Accounting in 1988.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Executive Compensation</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Compensation paid to officers is set forth in the Summary Compensation
Table below. We do not have any written employment agreements with any of our officers, all of whom are employed on an at-will
basis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">There are no &ldquo;change in control&rdquo; agreements other
than outstanding RSUs (see below).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Realized Compensation per W-2s and &ldquo;At
Risk&rdquo; Compensation</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Name
    and Principal Position</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Fiscal
    Year</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Salary</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Bonus</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Dividends
    on outstanding RSUs and Stock Options</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Stock
    Option Buyout for Cash</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Value
    Realized on Vesting </FONT><FONT STYLE="color: Black"><BR><FONT STYLE="font-size: 7pt">($)</FONT></FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Other</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Total
    W-2 </FONT><FONT STYLE="color: Black"><BR><FONT STYLE="font-size: 7pt">Compensation</FONT></FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Percentage
    of &ldquo;At Risk&rdquo; Compensation</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 19%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Victor
    P. Stabio </FONT><FONT STYLE="color: Black"><BR><FONT STYLE="font-size: 7pt">Chairman</FONT></FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">323,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">223,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">51,200</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">821,600</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,285</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,421,085</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">61</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">629,475</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,667</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">965,519</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">66</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">259,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,440,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">665,775</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,286</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,690,738</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">88</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">53,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">837,375</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,287</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,215,439</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">73</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">195,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">59,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">53,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">995,775</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,536</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,305,311</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">80</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">184,846</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,846</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">20,769</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">(1)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">231,461</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">0</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Brent K.
    Bilsland President and CEO</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">344,615</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">455,923</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">64,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,027,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,891,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">58</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">280,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">476,875</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">785,913</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">62</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">280,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">100,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">504,375</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">905,913</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">67</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">277,981</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">22,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">634,375</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">956,394</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">69</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">171,250</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">13,462</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">754,375</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">964,087</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">81</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">157,470</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">13,333</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">170,803</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">0</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">W. Anderson
    Bishop CFO- Hallador Energy</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">209,168</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">111,115</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">19,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">616,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,188</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">956,871</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">68</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">6,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">381,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,188</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">600,238</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">65</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">403,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">774</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">695,824</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">69</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">18,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">507,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">839</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">737,889</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">71</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">130,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">20,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">603,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">839</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">761,839</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">82</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">5,769</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">30,769</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">0</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Lawrence
    Martin </FONT><FONT STYLE="color: Black"><BR><FONT STYLE="font-size: 7pt">CFO- Sunrise Coal</FONT></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">205,770</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">245,915</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">14,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">410,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">876,885</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">48</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">155,850</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">36,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">84,750</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">278,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">31</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">151,873</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">36,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">103,750</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">295,623</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">36</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">137,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">40,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">180,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">125,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">27,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">154,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">113,578</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">9,455</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">123,033</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">0</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><U>_________________</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>(1)</SUP> Bonus awarded in 2008, but paid in 2009.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Summary Compensation Table Pursuant To Item 402
of Regulation S-K</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">(2009 - 2012 Are Not Required, But Are Shown
For Discussion Purposes.)</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Name
    and Principal Position</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Fiscal
    Year</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Salary</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Bonus</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black"><B>Stock
                                         Awards <SUP>(1)</SUP></B></FONT></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt; color: Black"><B>&nbsp;</B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Dividends
    on outstanding RSUs and Stock Options</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Other
    (2)</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">Total</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Victor
    P. Stabio <BR>Chairman</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">323,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">223,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,451,200</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">51,200</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">14,880</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">$</FONT></TD><TD STYLE="width: 6%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,063,280</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">14,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">347,777</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">259,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,453,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">(3)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,036,177</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">23,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">53,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">388,077</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">195,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">59,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">53,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">308,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">184,849</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,846</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,607,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,817,692</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Brent
    K. Bilsland <BR>President &amp; CEO</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">344,615</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">455,923</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,064,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">64,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,938,938</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">280,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">319,438</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">280,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">100,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">411,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">277,981</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">21,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">22,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">9,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">331,819</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">171,250</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">13,462</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">6,291</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">216,003</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">157,470</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">13,333</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,975,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">5,124</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,150,927</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">W.
    Anderson Bishop <BR>CFO &ndash; Hallador Energy</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">209,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">111,115</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">919,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">19,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">14,119</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,272,634</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">6,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">12,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">230,250</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">13,394</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">304,944</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">200,012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">11,538</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">18,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">9,849</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">239,399</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">130,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">20,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">159,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">5,769</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,580,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,610,769</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">Lawrence
    Martin <BR>CFO &ndash; Sunrise Coal</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2014</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">205,770</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">245,915</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">612,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">14,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">10,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,089,285</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2013</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">155,850</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">36,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">1,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,742</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">201,292</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2012</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">151,873</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">36,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">90,100</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,675</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">289,648</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2011</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">137,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">40,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">7,435</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">188,135</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2010</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">125,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">27,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">105,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">2,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">4,098</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">263,598</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="font-size: 7pt; color: Black">2009</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">113,578</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">9,455</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">95,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">3,675</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: right"><FONT STYLE="font-size: 7pt; color: Black">221,708</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: left"><FONT STYLE="font-size: 7pt; color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">______________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>(1)</SUP>&#9;RSUs: value based on grant date fair value.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>(2)</SUP>&#9;Consists primarily of 401(k) contributions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>(3)</SUP>&#9;Includes $1.44 million cash for the buyout
of Mr. Stabio&rsquo;s stock options.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">No stock options were granted or exercised during the past six
years and none are outstanding</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Outstanding Equity Awards at December 31, 2014</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table sets forth information concerning the outstanding
stock awards held at December 31, 2014 by the named executive officers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">STOCK
    AWARDS</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Name</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Number
    of Shares or Units of Stock That Have Not Vested (1)</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Market
    Value of Shares or Units of Stock That Have Not Vested (2)</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="color: Black">(#)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91; text-align: center"><FONT STYLE="color: Black">($)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #365F91"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Victor Stabio</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">240,000
                                         <SUP>(3)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">2,642,400</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Brent K. Bilsland</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">300,000
                                         <SUP>(3)</SUP></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">3,303,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">W. Anderson Bishop</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&#9;&nbsp;&nbsp;&nbsp;&#9;60,000
                                         <SUP>(4)</SUP></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">660,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Lawrence Martin</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Black">&nbsp;&nbsp;&nbsp;40,000
                                         <SUP>(4)</SUP></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">440,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.25in"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(1)</font></td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">Lapsing/vesting anniversary date each year is December 16.</font></td></tr>
<tr style="vertical-align: top">
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">(2) </font></td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">Reflects the closing market price of the Company&rsquo;s common stock on December 31, 2014, $11.01, multiplied by the number of restricted stock units that were not vested as of December 31, 2014.</font></td></tr>
<tr style="vertical-align: top">
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">(3)</font></td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">If the performance criteria set by the Compensation Committee is met,&nbsp;the RSUs will lapse ratably over three years and will fully lapse on December 16, 2017.</font></td></tr>
<tr style="vertical-align: top">
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">(4)</font></td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">If the performance criteria set by the Compensation Committee is met, the RSUs will fully lapse on December 16, 2015.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Stock Vested in 2014</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table sets forth information concerning RSUs that
vested during the last fiscal year with respect to the named executive officers.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #365F91"><FONT STYLE="color: Black"><B>Stock
Awards</B></FONT></P>

</TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Name</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #365F91"><FONT STYLE="color: Black"><B>Number
                                         of Shares&nbsp;Acquired</B><br><B> on&nbsp;Vesting</B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; color: #365F91"><FONT STYLE="color: Black"><B>Value
                                         Realized on Vesting<SUP>(1)</SUP></B></FONT></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #365F91"><FONT STYLE="color: Black"><B>($)</B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Victor P. Stabio</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">821,600</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Brent K. Bilsland</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">1,027,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">W. Anderson Bishop</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">60,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">616,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Lawrence
    Martin</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">40,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">410,800</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>(1)</SUP></TD><TD>Amount is the number of shares of stock acquired upon vesting multiplied by the market price (closing price) of our common
stock on the vesting date. The closing stock price on the day of vesting was $10.27 per share on December 16, 2014.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Equity Compensation Plan Information</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Our stock bonus plan was authorized in late 2009 with 250,000
shares. We did not issue any shares from the Stock Bonus Plan in 2014 and there are 86,383 shares remaining in the plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">At December 31, 2014, we had 1,042,000 RSUs outstanding and 1,257,900
available for future issuance.&nbsp;&nbsp;Our RSU and stock option plans were approved by our Board and collectively they and their
affiliates control about 61% of our stock. Currently, there are 1,259,400 shares available for future issuance.</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>2015 FUTURE COMPENSATION TO NEOS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The RSUs issued to Mr. Stabio and Mr. Bilsland lapse/vest ratably
on an annual basis over the next three years and the RSUs issued to Mr. Bishop and Mr. Lawrence lapse/vest on December 16, 2015
upon successfully attaining the performance criteria set by the Compensation Committee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Name
                                         and</B></FONT></P> <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Principal
                                         Position</B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Salary</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Bonus</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Bonus
                                         to be paid in December 2015 <SUP>(1)</SUP></B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="color: Black">Total</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; text-align: center"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>RSU
                                         Awards that Lapse on December 16, 2015 <SUP>(1)</SUP></B></FONT></P></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Victor P. Stabio
    <BR>Chairman</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">325,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">25,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">402,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">$</FONT></TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">752,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">80,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">Brent K. Bilsland <BR>CEO
    &amp; President</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">350,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">26,923</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">871,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">1,247,923</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">100,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">W. Anderson Bishop <BR>CFO-Hallador
    Energy</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">210,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">12,115</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">201,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">423,115</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">60,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Lawrence
    Martin <BR>CFO-Sunrise Coal, LLC</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">210,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">12,115</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">435,500</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">657,615</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="color: Black">40,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">___________________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><SUP>(1) Assuming the performance criteria set by the Compensation
Committee is met.</SUP></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>OWNERSHIP OF EQUITY SECURITIES OF THE COMPANY</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #0070C0">Section 16 (a) Beneficial Ownership Reporting
Compliance</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">All reports were timely filed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>INDEPENDENT AUDITORS&rsquo; FEES AND SERVICES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Auditors</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">EKSH has served as our independent auditors since June 2003 and
has been selected by the Audit Committee as independent auditors for 2015. A representative from EKSH is not expected to attend
the meeting. Doug Reeb (age 40) is our Audit Partner and Joe Adams (age 55) is the concurring partner. After being our designated
Audit Partner for the past five years, it is expected Mr. Reeb will be replaced in April 2015 by Brent Petersen (age 49) at EKSH.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Audit Fees</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">EKSH billed us $250,000 for the 2014 audit and quarterly reviews
and an additional $13,750 for the 401(k) audit. For 2013 they billed us $132,500 for the audit and quarterly reviews and $13,750
for the 401(k) audit.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #0070C0">Pre-Approval Policy</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">In 2003, the Audit Committee adopted a formal policy concerning
approval of audit and non-audit services to be provided by EKSH. The policy requires that all services EKSH provides to us be pre-approved
by the Audit Committee. The Audit Committee approved all services provided by EKSH during 2014 and 2013.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>PROPOSALS BY SECURITY HOLDERS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Board did not receive any proposals for consideration to
be voted upon at the 2015 Annual Meeting of Shareholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>OTHER MATTERS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Board does not intend to bring any other matters before the
2015 Annual Meeting of Shareholders and has not been informed that any other matters are to be presented by others.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>INFORMATION ABOUT 2016 SHAREHOLDER PROPOSALS </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Any qualified shareholder desiring to have their proposal included
in the 2016 Proxy Statement must submit it in writing to us no later than November 1, 2015. The submission of a shareholder proposal
does not guarantee that it will be acted upon.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><B>CONTACT INFORMATION</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">All inquiries should be addressed by mail to: Hallador Energy
Company, 1660 Lincoln Street, Suite 2700, Denver, Colorado 80264; by phone to 303-839-5504 ext. 316; or by e-mail at: <U>investorrelations@halladorenergy.com</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 50%"><font style="font: 10pt Arial, Helvetica, Sans-Serif">By Order of the Board of Directors:</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><img src="image_004.jpg" alt="VICTOR_P_STABIO_SIGNATURE_BLUE" style="height: 69px; width: 130px"></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">March 9, 2015</FONT></td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">Victor P. Stabio</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Arial, Helvetica, Sans-Serif">Chairman</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
