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Super RAC

Super RAC. February 24-25, 2009. Items to be Discussed. Coal Program Oil Shale. COAL. 9 mines 7 Underground 2 Surface Production ≈ 22.8 million tons Revenue ≈ $55.38 million. Recent Coal Activities. LBA. New Elk Coal – near Trinidad late 09

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Super RAC

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  1. Super RAC February 24-25, 2009

  2. Items to be Discussed • Coal Program • Oil Shale

  3. COAL 9 mines 7 Underground 2 Surface Production≈ 22.8 million tons Revenue ≈ $55.38 million

  4. Recent Coal Activities LBA • New Elk Coal – near Trinidad late 09 • CAM, Red Cliff – adj McClane Canyon late 09 • Oxbow Mining – Elk Creek Mine expansion ? Modifications • Mountain Coal – modify 2 leases to access bypass coal

  5. Coal Mine Methane • Vessels decision • West Elk Coal Lease Addendum • West Elk Coal – R2P2 • Other Leases ?

  6. Oil Shale • Est. 800 billion barrels of oil • Approximately enough to meet US demand for oil at current levels for next 100 years

  7. Oil Shale • PEIS - (ROD) published 11/28/08 • Final Regulations published 11/18/08 • Law Suits - currently responding to FOIA requests concerning the PEIS & the Regs

  8. Oil Shale Regs • 20 year lease • Royalty 5% - 5 yr 1%/year up to 12½% • NEPA • at prior to lease sale • at mine plan approval • Diligence provisions w/penalties • Bonding to cover the cost of reclamation

  9. Oil Shale RDD #1 • Energy Policy Act of 2005 • 6 RDD leases • 5 insitu Colorado • 1 underground w/surface retort Utah • Shell - AMSOL – Chevron • 160 acres Preference Right to additional 4,960 • $2,000 application fee

  10. Oil Shale RDD #1 Lease addendum • Addendum January 18, 2009 • Sect 1 - if no existing regulations companies agree to use the regs published Nov 18, 2008 when converting • Sect 2 – if new regs (not 11/18/08) can choose which regulations to use at conversion

  11. Oil Shale RDD #2 ? • January 15, 2009 • 640 acres • 10 years • No preference to larger lease • $4,000 application fee

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