HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

Spark Investment Management LLC's Holding History (CIK: 0001554871)

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

Q1 2017

Shares 63,600 Value ($000) $509 Avg Close $8.82 Range $7.30 - $9.87

Q4 2016

Shares 102,900 Value ($000) $935 Avg Close $8.79 Range $7.16 - $10.40

Q1 2016

Shares 36,700 Value ($000) $167 Avg Close $4.82 Range $3.95 - $6.47

Q3 2013

Shares 11,400 Value ($000) $82 Avg Close $7.62 Range $6.75 - $8.46

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	63,600	$509	$8.82	$7.30 - $9.87
Q4 2016	102,900	$935	$8.79	$7.16 - $10.40
Q1 2016	36,700	$167	$4.82	$3.95 - $6.47
Q3 2013	11,400	$82	$7.62	$6.75 - $8.46