General Development of Business

 

Hallador Petroleum Company (Hallador), a Colorado corporation, was organized by our predecessor in 1949.

 

About nine years ago, Yorktown Energy Partners II and affiliates (Yorktown) invested $5,025,000 in Hallador Petroleum, LLP, a newly formed limited liability limited partnership, (the "Partnership").  We are the general partner and received a 70% interest in the partnership in return for contributing our net assets and Yorktown representing the limited partners, received a 30% interest for its $5,025,000 cash...