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Gold/Mining/Energy : Esprit Exploration Ltd.

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From: no1coalking	10/8/2008 10:34:44 AM
	of 2774

EEE well Thought out Report: Where we are/How we got here 8-Oct-08 08:38 am In the spring of 2008 Evergreen realized that Ft Union was not fixable and the company would run out of money if they did not try to change their course and build a revised Bechtel design. There was more than one major problem. Not only did the plant not work Evergreen didn't have any way to move K-Fuel out of the PRB if they could produce it. The Ft Union plant could only produce 3 million tons of K-Fuel if it had been designed correctly. That is nothing in tonnage for the railroads and Evergreen had no clout with BNSF. I have been wrong in my belief that K-Fuel might have transportation problems and that is the reason for Evergreen not constructing its new plant in the PRB area. I am sure we will see a K-Fuel refining plant constructed in partnership with a major coal company like Arch in the near future. The transportation issue would evaporate when connected with a large coal producer. I firmly believe rail transportation has been Evergreens second largest problem. Soon after Collins realized he had to change the course of the company William Walker became Chairman of the Board . It looks as if it took about 800,000 stock options to get Walker's attention and come aboard. Since that time the concept of working out of the liens started and freeing up assets. The market has not like the dilution, but I think the idea has been brilliant. I don't see how else Evergreen could move ahead and build its much needed refining plant. In a perfect world the Ft Union plant would have been designed correctly, K-Fuel would have been a huge success and Arch would have partnered with Evergreen to produce huge quantities of K-Fuel in the PRB. Transportation would have not been an issue and all investors would be sipping champagne instead of sour grapes. It is not a perfect world. Things are now moving quickly and I am sure we will have a plant announcement very soon. At the end of August the dilution news started and by the first of October it had been completed and the stock sunk to all time lows. While this was taking place Evergreen was placing employment ads for personal to help build a coal cleaning plant. Collins has the ability to walk, talk and chew gum all at the same time. He is working to get the project on track. He has take the reigns of Evergreen when every problem that could have gone wrong did. What we can see from the company is the admission: Ft. Union failed, PRB rail did not work, Evergreen's cash burn rate did not allow for any other mistakes, desperate times require desperate action (dilution) All of these problems have been addressed and with the proper capitol Evergreen will succeed. This is not rocket science. Big mistakes have been made, and big knowledge has been gained. The investors that are giving away their stock at these oversold prices are making a huge mistake. K-Fuel works and big profits will be made from refining low grade coal around the globe into higher BTU cleaner burning fuel. The process is available now, not ten years from now, and this is one of the solutions to the world energy problem.

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