<SEC-DOCUMENT>0000788965-19-000005.txt : 20190305
<SEC-HEADER>0000788965-19-000005.hdr.sgml : 20190305
<ACCEPTANCE-DATETIME>20190118184223
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000788965-19-000005
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190118

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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			comment_letter_2_01182019
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			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Correspondence Submission (non-public)</font>
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			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">January 18, 2019</font>
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			<font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Mr. James Giugliano</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Division of Corporation Finance</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Office of Beverages, Apparel and Mining</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">United States Securities and Exchange Commission</font>
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			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">Re: Hallador Energy Company</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">Form 10-K for Fiscal Year Ended December 31, 2017 Filed March 13, 2018</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">Form 8-K Filed November 7, 2018</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">File: No. 001-34743</font>
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			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 27.35pt;line-height:100%;text-indent: -27.35pt;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">Re:</font><font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;;font-size: 12pt;font-family:Calibri;text-indent:0pt;margin-left:0pt;padding:0pt 16.2pt 0pt 0pt;"></font><font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;"></font><font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:12pt;">Comment letter dated December 20, 2018 regarding (1) segment reporting (2) inventories, and (3) non-GAAP measures</font>
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			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Dear Mr. Giugliano:</font>
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			<font style="display: inline;">&nbsp;</font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">With regard to your item 1. Notes to Consolidated Financial Statements, (1) Summary of Significant Accounting Policies, page 48 &#x2013; below is our response as well as a draft disclosure we will make in future filings.</font>
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			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">&#xFEFF;</font>
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		<p style="margin:0pt 14.3pt 11pt 36pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">We have identified Lawrence D. Martin as our </font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">c</font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">hief </font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">o</font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">perating </font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">d</font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">ecision </font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">m</font><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">aker (&#x201C;CODM&#x201D;).&nbsp;&nbsp;Mr. Martin is President of Sunrise Coal, LLC, the largest subsidiary of Hallador Energy Company, which makes up 99% of Hallador revenues and 94% of total assets.&nbsp;&nbsp;The majority of Mr. Martin&#x2019;s time and compensation is related to the management of Sunrise Coal, LLC.&nbsp;&nbsp;Within Sunrise Coal, two primary operating segments exist, the Oaktown and Carlisle underground coal mines.&nbsp;&nbsp;Each segment engages in business activities from which it may earn revenues and incur expenses, its operating results are reviewed monthly by the CODM to make decisions about resources to be allocated and to assess performance, and discrete financial information is available.&nbsp;&nbsp;For reporting purposes, we aggregate the results of operations based on the aggregation criteria in FASB ASC 280-10-50-11.&nbsp;&nbsp;Each of the mines operates in the same seam, mines the same coal, utilizes the same mining process, customer contracts are generally interchangeable between the mines, distributes the coal via rail or truck, and are expected to have similar future economic characteristics.&nbsp;&nbsp;The Oaktown mine consists of two slopes which share a surface area, wash plant, and loading facility.&nbsp;&nbsp;Carlisle reserves are also contiguous to Oaktown reserves.</font>
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		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

			<font style="display: inline;font-family:Calibri;">January 18, 2019</font>

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			<font style="display: inline;font-family:Calibri;">Page | </font><font style="display: inline;font-family:Calibri;"></font><font style="display: inline;font-family:Calibri;">2</font><font style="display: inline;font-family:Calibri;"></font>

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			<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:10pt;">&#xFEFF;</font>
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		<p style="margin:0pt 14.3pt 11pt 36pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">Segment Information (draft disclosure)</font>
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		<p style="margin:0pt 14.3pt 11pt 36pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">The Company&#x2019;s significant operating segments include the Oaktown and Carlisle underground mines located in southwestern Indiana.&nbsp;&nbsp;The Company&#x2019;s chief operating decision maker (&#x201C;CODM&#x201D;) reviews the operating results, assesses performance and makes decisions about allocation of resources to these segments at the mine level, however, we aggregate the results of operations of the mines for reporting purposes since the nature of the product, production process, customer type, product distribution, and long-term economic characteristics at each location are similar.&nbsp; </font>
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		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">&#xFEFF;</font>
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		<p style="margin:0pt 14.3pt 11pt 0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">With regard to your item 2. Inventories, page 48 &#x2013; below is a draft disclosure we will make in future filings.</font>
		</p>
		<p style="margin:0pt 14.3pt 11pt 36pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:12pt;">Inventory and parts and supplies are valued at the lower of average cost or net realizable value.&nbsp;&nbsp;Inventory costs include labor, supplies, operating overhead, and other related costs incurred at or on behalf of the mining location, including depreciation, depletion, and amortization of equipment, buildings, mineral rights, and mine development costs.</font>
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		<p style="margin:0pt 14.3pt 11pt 0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">With regard to your item 3. Form 8-K Filed November 7, 2018, Exhibit 99.1 regarding non-GAAP measures, below are reconciliations based on the nine months and three months ended September 30, 2018 and 2017.&nbsp;&nbsp;Similar reconciliations will be included in future filings.</font>
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					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Nine Months Ended</font></p>
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						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Three Months Ended</font></p>
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					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">September 30,</font></p>
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						&nbsp;</p>
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						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">September 30,</font></p>
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						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2018</font></p>
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						&nbsp;</p>
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						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2017</font></p>
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						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2018</font></p>
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2017</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Net income</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$5,023&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$11,719&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$2,914&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$3,916&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Income tax expense (benefit)</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(546)
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">993&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(589)
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">10&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Loss from Hourglass Sands</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">871&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">314&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Loss (income) from equity method investments</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">198&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(427)
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">42&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(169)
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Purchased contract amortization</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">6,877&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,435&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">DD&amp;A</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">32,759&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">28,533&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">10,810&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">9,729&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">ARO accretion</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">866&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">640&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">293&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">219&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Loss (gain) on impairment &amp; disposal of assets</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">576&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(8)
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">4&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(12)
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Loss (gain) on marketable securities</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">60&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(134)
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Interest Expense</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">10,284&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">9,662&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">3,261&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">3,229&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Other amortization</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,517&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">1,669&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">935&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">705&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Stock-based compensation</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,755&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">6,388&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">389&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">994&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:204.80pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Adjusted EBITDA</font></p>
				</td>
				<td valign="bottom" style="width:69.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$55,363&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.45pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$66,046&nbsp;
				</td>
				<td valign="bottom" style="width:27.80pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:68.70pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$18,239&nbsp;
				</td>
				<td valign="bottom" style="width:00.35pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:70.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$21,056&nbsp;
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt 0pt 8pt;font-family:Calibri;line-height:107.92%;font-size: 11pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 8pt;font-family:Calibri;line-height:107.92%;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p><div style="width:100%">

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

			<font style="display: inline;font-family:Calibri;">January 18, 2019</font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 11pt">

			<font style="display: inline;font-family:Calibri;">Page | </font><font style="display: inline;font-family:Calibri;"></font><font style="display: inline;font-family:Calibri;">3</font><font style="display: inline;font-family:Calibri;"></font>

		</p>

</div>
		<p style="margin:0pt 0pt 8pt;font-family:Calibri;line-height:107.92%;;font-size: 10pt"><font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width:514.80pt;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:196.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:27.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Calibri;line-height:107.92%;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-style:italic;color:#000000;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td colspan="3" valign="bottom" style="width:145.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Nine Months Ended</font></p>
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="3" valign="bottom" style="width:145.60pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Three Months Ended</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td colspan="3" valign="bottom" style="width:145.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">September 30,</font></p>
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="3" valign="bottom" style="width:145.60pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">September 30,</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2018</font></p>
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2017</font></p>
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2018</font></p>
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:center;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">2017</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Net Income</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$5,023&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$11,719&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$2,914&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$3,916&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Equity method investments</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">198&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(427)
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">42&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(169)
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Purchased contract amortization</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">6,877&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;text-align:right;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,435&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Deferred income tax expense (benefit)</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(120)
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,151&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(385)
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,542&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">DD&amp;A</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">32,764&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">28,533&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">10,815&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">9,729&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">ARO accretion</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">866&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">640&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">293&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">219&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Deferred financing costs amortization</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">1,482&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">1,371&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">542&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">457&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Change in fair value of interest rate swaps</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">136&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(476)
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(708)
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(36)
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Loss (gain) on impairment &amp; disposal of assets</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">576&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(3)
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">4&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">56&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Maintenance capex</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(15,469)
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(8,880)
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(4,639)
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">(2,961)
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;color:#000000;font-size:10pt;">Stock-based compensation less taxes paid</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">2,744&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">3,926&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">389&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;height:15.00pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">824&nbsp;
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:196.55pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:106.67%;font-family:Calibri;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-weight:bold;color:#000000;font-size:10pt;">Adjusted Free Cash Flow</font></p>
				</td>
				<td valign="bottom" style="width:67.35pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$28,200&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.10pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$45,431&nbsp;
				</td>
				<td valign="bottom" style="width:27.10pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:66.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$9,267&nbsp;
				</td>
				<td valign="bottom" style="width:11.10pt;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:right;font-family:Calibri;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:67.75pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;height:15.75pt;color:#000000;font-family:Calibri;font-size:10pt;text-align:right;" nowrap="nowrap">$17,012&nbsp;
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt 0pt 8pt;font-family:Calibri;line-height:107.92%;font-size: 12pt">
			<font style="display: inline;font-size:12pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Please contact Todd Davis at (812) 299-2800, extension 228 or via e-mail at tdavis@sunrisecoal.com with any further questions.</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Sincerely,</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;text-decoration:underline;">/s/ Lawrence D. Martin</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Calibri;font-size: 12pt">
			<font style="display: inline;font-family:Calibri;color:#000000;font-size:12pt;">Lawrence D. Martin, CFO</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-align:center;font-family:Calibri;line-height:107.92%;font-size: 10pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
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