[GBRIMLEY 2/14/2023 4:03:29 PM]

A copy of the articles of incorporation of Marchant Extension Irrigation Company has
been provided to the State Engineer and will be kept on the water right files of the
rights held by the company. Said articles of incorporation indicate an outstanding
issuance of 780 Class A shares and 633 & 1/3 Class B shares. Additionally they indicate
the Class B shares are valued at 1 acre-foot per share as a reflection of storage rights
the company holds.

The company holds a 300 acre-foot storage right in 35-8732. I think Marchant Extension
Irrigation Company also holds a share in Fish Lake Reservoir Company, which owns
35-8734, 35-8735, and 35-8736, which collectively reflect a right to store 2000
acre-feet to be used as a supplemental supply on 2717 acres. Fish Lake Reservoir
Company`s page is https://waterrights.utah.gov/forms/waterCompanies.asp?companyId=652.
It may be desirable for the Fish Lake Reservoir Company to vouch for Marchant
Extension`s ownership of a portion of its stock. The afore-said valuation would appear
valid if Marchant Extension`s portion of Fish Lake Reservoir were one sixth (1/6).
(Because a sixth of FLRC is 2000 / 6 = 333.33 acre-feet; then add 300 acre-feet from
35-8732; it totals 300 + 333.33 = 633.33, which is the number of Class B Shares Marchant
issued.)



[GBRIMLEY 7/8/2016 9:14:09 AM]

New company contacts entered after phone conversation with Scott Crandall.