X0303 4 2010-12-08 0 0000788965 HALLADOR ENERGY CO HNRG 0001167757 HARDIE STEVEN 940 SOUTHWOOD BLVD. SUITE 201 INCLINE VILLAGE NV 89451 1 0 1 0 Common Stock 2010-12-09 4 S 0 155 12.0663 D 21489 D Common Stock 2010-12-08 4 S 0 542 12.2515 D 21664 D Common Stock 2010-12-09 4 S 0 588 12.0663 D 3118558 I By Hallador Alternative Assets Fund LLC Common Stock 2010-12-08 4 S 0 2060 12.2515 D 3119146 I By Hallador Alternative Assets Fund LLC Common Stock 2010-12-09 4 S 0 54 12.0663 D 24481 I By Sandra Hardie Trust Common Stock 2010-12-08 4 S 0 190 12.2515 D 24535 I By Sandra Hardie Trust Common Stock 2010-12-09 4 S 0 70 12.0663 D 297648 I By Halldor, Inc. Common Stock 2010-12-08 4 S 0 244 12.2515 D 297718 I By Halldor, Inc. Formerly held by Marilyn Hardie Separate Property Trust and transferred on or about 11/19/10 to Steven Robert Hardie Trust as a result of a Marital Settlement Agreement. Hallador Investment Advisors, Inc. ("HIA") is the investment advisor to Hallador 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 services to HAAF. Further, Silvertip Management LLC ("Silvertip") is a Managing Member and General Partner of HAAF 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 Vice 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. The Reporting Person is a spouse of Sandra Hardie, the trustee of the Sandra Hardie Trust. As such, the Reporting Person may be deemed to be the indirect beneficial owner of the securities by reason of its influence or control over the Sandra Hardie Trust's voting and disposition decisions. The Reporting Person disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein. The Reporting Person is an executive officer of the holder of the securities and disclaims beneficial ownership of the securities except to the extent of his pecuniary interest therein. Sold pursuant to Rule 10b5-1. /s/ Steven Hardie 2010-12-10