ARTICLES OF AMENDMENT
ARTICLES OF INCORPORATION
(Filed with the Colorado Secretary of State on December 31, 1990.)
Pursuant to the provisions of the Colorado Corporation Code, the undersigned corporation adopts the following
Articles of Amendments to its Articles of Incorporation:
FIRST: The name of the corporation is (note 1) Hallador Petroleum Company.
SECOND: The following amendment to the Articles of Incorporation was adopted on December 31, 1990, as
prescribed by the Colorado Corporation Code, in the manner marked with an X below:
___ Such amendment was adopted by the board of directors where no shares have been issued.
_X_ Such amendment was adopted by a vote of the shareholders. The number of shares voted for the
amendment was sufficient for approval.
RESOLVED, that Articles of Incorporation of Hallador Petroleum Company (the "Corporation") be amended by
deleting paragraph (a) of Article Fourth and substituting therefor the following new paragraph (a):
FOURTH: (a) The aggregate number of shares of capital stock which the Corporation shall have authority to
issue shall be 110,000,000 shares, consisting of 100,000,000 shares of Common Stock, with a par value of each
share of $0.01, and 10,000,000 shares of Preferred Stock, with a par value of each share of $0.10, issuable in
series. Each ten (10) shares of the Corporation's Common Stock issued and outstanding at the time Articles of
Amendment containing this amendment are filed with the Secretary of State of Colorado shall be and hereby are
automatically changed and reclassified without further action into one (1) fully paid and nonassessable share of the
Corporation's Common Stock, provided that no fractional shares shall be issued pursuant to such change and
reclassification as a result of such change and reclassification the cash value of such fractional share based upon
the average of the closing bid and asked quotations on the National Association of Securities Dealers trading
period commencing on November 27, 199