UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP ( ) Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instructions 1(b). 1. Name and Address of Reporting Person ZWICKL, MICHAEL D. BEECH STREET LAW OFFICES 123 S. DURBIN STREET CASPER, WY 82602 2. Issuer Name and Ticker or Trading Symbol CRESTED CORP. CBAG 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year January 31, 2001 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 7. Individual or Joint/Group Filing (Check Applicable Line) (X) Form filed by One Reporting Person ( ) Form filed by More than One Reporting Person

Explanation of Responses: a) Payment for services as a director for calendar 2000. SIGNATURE OF REPORTING PERSON /s/ Michael D. Zwickl DATE February 6, 2000

CRESTED CORP 4