Date:12/14/2011

ct"). Through June 2011, and in cooperation with the Nevada Division of Environmental Protection, we worked to develop the formal design, engineering and permitting of the Expansion Project.  Based on data obtained through that  date, which was largely comprised of firm quotations, we determined that significant modifications to our Fiscal 2009 assumptions were required.  As a result, in June 2011, we accrued an additional $6.0 million for the estimated increase in the cost of the capital component of the Expansion Project, offset slightly by reductions in operating and maintenance ("O&M") cost estimates.  The estimated capital costs of the Expansion Project increased by approximately $6.4 million. The increase reflects (i) an increase in the capacity of the FBR bioremediation treatment equipment to accommodate technical requirements based on the testing of new extraction wells in the fall of 2010, and (ii) higher than initially anticipated cost associated with the installation of the equipment and construction of the pipeline.  Our estimate of total O&M costs was reduced by approximately $0.4 million.  This change in estimate reflects (i) a reduction in the estimated life of the project by four years, offset by (ii) an increase in the estimated annual O&M cost to approximately $1.9 million per year once the Expansion Project is placed in service.  We anticipate that the Expansion Project will be placed in service during the fiscal year ending September 30, 2012 ("Fiscal 2012").  Due to uncertainties inherent in making estimates, our estimates of capital and O&M costs may later require significant revision as new facts become available and circumstances change.  

Including this $6.0 million increase in our accruals, our total estimated cost of the Henderson, Nevada remediation activities is $45.7 million, of which, $19.5 million was spent from September 2005 through September 2011.  We anticipa
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