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SHOTT CAPITAL MANAGEMENT LLC
> HPCO
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2013 | HALLADOR ENERGY CO | HPCO | 121,094 | 32,248 | 836,000 | 102,000 | $6.90 |
| 12/31/2012 | HALLADOR ENERGY CO | HPCO | 88,846 | 24,063 | 734,000 | 194,000 | $8.26 |
| 09/30/2012 | HALLADOR ENERGY CO | HPCO | 64,783 | 22,295 | 540,000 | 180,000 | $8.34 |
| 06/30/2012 | HALLADOR ENERGY CO | HPCO | 42,488 | -21,556 | 360,000 | -206,000 | $8.47 |
| 03/31/2012 | HALLADOR ENERGY CO | HPCO | 64,044 | 32,237 | 566,000 | 250,000 | $8.84 |
| 12/31/2011 | HALLADOR ENERGY CO | HPCO | 31,807 | 9,907 | 316,000 | 129,000 | $9.93 |
| 09/30/2011 | HALLADOR ENERGY CO | HPCO | 21,900 | 6,152 | 187,000 | 36,000 | $8.54 |
| 06/30/2011 | HALLADOR ENERGY CO | HPCO | 15,748 | 15,748 | 151,000 | 151,000 | $9.59 |
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