SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* HARDIE DAVID C (Last) (First) (Middle) PO BOX 15299 (Street) SACRAMENTO CA 95851 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HALLADOR PETROLEUM CO [ HPCO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board
	3. Date of Earliest Transaction (Month/Day/Year) 03/24/2006
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/24/2006		J(1)		823,041	D	$0	0	I	By Robert Hardie Q-Tip Trust
Common Stock	03/24/2006		J(1)		182,983	D	$0	0	I	By David Hardie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		65,094	D	$0	0	I	By Janice Hardie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		67,714	D	$0	0	I	By David & Janice Hardie CPT
Common Stock	03/24/2006		J(1)		198,692	D	$0	0	I	By Steven Hardie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		22,971	D	$0	0	I	By Marilyn Hardie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		115,004	D	$0	0	I	By Cory Ritchie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		10,917	D	$0	0	I	By Cory Ritchie SPT-Grandchildren Trust
Common Stock	03/24/2006		J(1)		8,000	D	$0	0	I	By Ryan Ritchie
Common Stock	03/24/2006		J(1)		78,662	D	$0	0	I	By Cory Ritchie Future Interest Trust
Common Stock	03/24/2006		J(1)		33,654	D	$0	0	I	By Kirk Hardie Sep. Prop. Trust
Common Stock	03/24/2006		J(1)		10,917	D	$0	0	I	By Kirk Hardie SPT-Grandchildren Trust
Common Stock	03/24/2006		J(1)		137,772	D	$0	0	I	By Kirk Hardie Future Interest Trust
Common Stock	03/24/2006		J(1)		10,930	D	$0	0	I	By Brad Hardie SPT-Grandchildren Trust
Common Stock	03/24/2006		J(1)		20,355	D	$0	0	I	By Bradford Hardie Future Interest Trust
Common Stock	03/24/2006		J(1)		16,382	D	$0	0	I	By Joseph Hardie Grandchildren Trust
Common Stock	03/24/2006		J(1)		16,194	D	$0	0	I	By Alexander Hardie Custodian
Common Stock	03/24/2006		J(1)		16,382	D	$0	0	I	By Alexander Hardie Grandchildren Trust
Common Stock	03/24/2006		J(1)		169,206	D	$0	0	I	By Alexander Hardie Present Interest Trust
Common Stock	03/24/2006		J(1)		75,035	D	$0	0	I	By Steven Hardie Issue Future Interest Trust
Common Stock	03/24/2006		J(1)		43,814	D	$0	0	I	By Three Gee Partners
Common Stock	03/24/2006		J(1)		56,279	D	$0	0	I	By K.R.H.I., L.P.
Common Shares	03/24/2006		J(1)		207,609	D	$0	0	I	By B.W.H.I., L.P.
Common Shares	03/24/2006		J(1)		184,913	D	$0	0	I	By J.S.H.I., L.P.
Common Stock	03/24/2006		J(1)		401,340	D	$0	0	I	By Hardie Descendants' Trust
Common Stock	03/24/2006		J(1)		298,315	D	$0	0	I	By Hallador Inc.
Common Stock	03/24/2006		J(1)		298,315	A	$0	298,315	I	By Hallador, Inc.(2)
Common Stock	03/24/2006		J(1)		823,041	A	$0	823,041	I	By Robert C. Hardie, L.P.(3)
Common Stock	03/24/2006		J(1)		2,201,742	A	$0	2,201,742	I	By Hallador Alternative Assets Fund LLC(4)
Common Stock	03/24/2006		P		227,272	A	$2.2	2,429,014	I	By Hallador Alternative Assets Fund LLC(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person and his brother (the "Nominees") were authorized to manage and control the disposition of the securities pursuant to an Assignment and Nominee Agreement dated December 1, 1997, as amended March 15, 2002 ("Nominee Agreement"). As of March 24, 2006 the Nominees initiated transfers of the securities without consideration in accordance with the management and disposition provisions set forth in the Nominee Agreement for asset management purposes. The transaction is further described on Schedule 13D, as amended, filed with the Securities and Exchange Commission on behalf of the Nominees on July 25, 2006.

2. The Reporting Person is a director of the holder of the securities and disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

3. The securities are held by a limited partnership, to which the Reporting Person is an executive officer of its General Partner, Browns Valley, Inc. The Reporting Person disclaims beneficial ownership of the securities except to the extent of his precuniary interest therein.

4. Hallador Inventment Advisors, Inc. ("HIA") is the investment advisor toHallador Alternative Assets Fund LLC ("HAAF"). HIA may be deemed to be the indirect beneficial owner of the securities by reason of its influence or control over HAAF's voting and disposition decisions in connection with its advisory servies to HAAF. Further, Silvertip Management LLC ("Silvertip") is a Managing Member and General Partner of HAA and may be deemed to be an indirect beneficial owner of the securities by reason of its influence on or control over HAAF's voting and disposition decisions. The Reporting Person is the President of HIA and a managing member of both HAAF and Silvertip. The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein.

	/s/ David C. Hardie	06/23/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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