Vulcan Power Company, a Colorado Corporation v. Ce Exploration Company, a Delaware Corporation

78 F.3d 596 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. VULCAN POWER COMPANY, a Colorado corporation, Plaintiff-Appellee, v. CE EXPLORATION COMPANY, a Delaware corporation, Defendant-Appellant. No. 94-36054. United States Court of Appeals, Ninth Circuit. Argued and Submitted Jan. 11, 1996. Decided Feb. 20, 1996. Before: NOONAN, LEAVY and HAWKINS, Circuit Judges. 1 MEMORANDUM * STATEMENT OF THE CASE 2 The core question in this appeal is whether an option to purchase was properly exercised. We REVERSE the district court conclusion that the option was timely and validly exercised and VACATE the assignment order. 3 The option, first granted in 1980, was for the purchase of federal geothermal lease interests which have since been approved for inclusion in a pilot federal energy project (the "Project") at Newberry Crater in Oregon. CE Exploration Company ("Exploration"), a subsidiary of California Energy Company, Inc. ("Energy"), appeals the district court decision ordering…