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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 17:31                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    037  Cherokee
                                037-901  Alto

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   PTD Lease Number        Appraised               Market
    or Mineral Type          Value                 Value              Ratio
--------------------------------------------------------------------------------
Oil & Gas Sample Leases:

PSU037 1417                      727,370               723,786           1.0049
PSU037 5455                      386,930               377,887           1.0239
TXG06 075961                     111,790               112,383            .9947
TXG06 076639                     690,250               695,703            .9921
TXG06 089096                     149,210               155,272            .9609
TXG06 138723                     230,930               240,279            .9610
TXG06 154154                     227,260               235,633            .9644
TXG06 156263                     397,580               390,521           1.0180
TXG06 165015                     142,310               144,784            .9829
TXG06 168323                     669,420               650,725           1.0287
TXG06 172058                     397,730               376,120           1.0574
TXG06 180155                     268,320               269,755            .9946



                     Total Self-Reported Mineral Value:          20,607,658

                     Divided by ISD Mineral Ratio:                   1.0060**

                     Estimated PTD Mineral Value:                20,484,750


          ** See Stratified Ratio Detail report for more data