HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

VAN DEN BERG MANAGEMENT I, INC's Holding History (CIK: 0001142062)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 40,424 Value ($000) $337 Avg Close $10.10 Range $7.58 - $12.23

Q1 2015

Shares 65,659 Value ($000) $768 Avg Close $11.63 Range $10.25 - $12.94

Q4 2014

Shares 72,400 Value ($000) $797 Avg Close $11.20 Range $9.04 - $12.23

Q3 2014

Shares 90,515 Value ($000) $1,072 Avg Close $12.82 Range $9.50 - $14.35

Q2 2014

Shares 105,454 Value ($000) $1,001 Avg Close $9.01 Range $8.41 - $9.96

Q1 2014

Shares 73,269 Value ($000) $626 Avg Close $8.20 Range $7.47 - $8.99

Q4 2013

Shares 65,494 Value ($000) $528 Avg Close $7.44 Range $6.58 - $8.55

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	40,424	$337	$10.10	$7.58 - $12.23
Q1 2015	65,659	$768	$11.63	$10.25 - $12.94
Q4 2014	72,400	$797	$11.20	$9.04 - $12.23
Q3 2014	90,515	$1,072	$12.82	$9.50 - $14.35
Q2 2014	105,454	$1,001	$9.01	$8.41 - $9.96
Q1 2014	73,269	$626	$8.20	$7.47 - $8.99
Q4 2013	65,494	$528	$7.44	$6.58 - $8.55