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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      8
TIME: 18:39                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    091  Grayson
                                091-909  Whitesboro

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

PSU091 9925                      220,990               216,717           1.0197
TXG09 172156                   3,577,590             3,371,575           1.0611
TXO09 002579                      48,150                48,583            .9910
TXO09 014374                     977,150               974,052           1.0031
TXO09 014493                     848,320               865,006            .9807
TXO09 014874                      49,360                50,563            .9762
TXO09 015864                     100,990                99,926           1.0106
TXO09 018218                     580,390               641,709            .9044
TXO09 023098                     591,850               554,755           1.0668
TXO09 028749                     498,420               511,981            .9735
TXO09 029063                     564,370               443,074           1.2737
TXO09 029429                   4,210,020             3,374,404           1.2476
TXO09 029861                     352,990               323,897           1.0898



                     Total Self-Reported Mineral Value:          19,425,887

                     Divided by ISD Mineral Ratio:                   1.0773**

                     Estimated PTD Mineral Value:                18,032,012


          ** See Stratified Ratio Detail report for more data