HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

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

Q1 2017
Shares 32,378 Value ($000) $259 Avg Close $8.82 Range $7.30 - $9.87
Q4 2016
Shares 32,625 Value ($000) $297 Avg Close $8.79 Range $7.16 - $10.40
Q3 2016
Shares 32,281 Value ($000) $254 Avg Close $5.99 Range $4.41 - $8.70
Q2 2016
Shares 38,412 Value ($000) $177 Avg Close $4.51 Range $3.95 - $5.25
Q2 2015
Shares 27,157 Value ($000) $226 Avg Close $10.10 Range $7.58 - $12.23
Q1 2015
Shares 28,697 Value ($000) $335 Avg Close $11.63 Range $10.25 - $12.94
Q4 2014
Shares 27,232 Value ($000) $300 Avg Close $11.20 Range $9.04 - $12.23
Q3 2014
Shares 38,988 Value ($000) $462 Avg Close $12.82 Range $9.50 - $14.35
Q2 2014
Shares 42,164 Value ($000) $400 Avg Close $9.01 Range $8.41 - $9.96
Q1 2014
Shares 42,926 Value ($000) $367 Avg Close $8.20 Range $7.47 - $8.99