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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      7
TIME: 19:05                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    107  Henderson
                                107-908  Murchison

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

PSU107 22180                     929,890               923,639           1.0067
PSU107 27000                   3,945,219             3,979,313            .9914
TXG05 015566                     137,530               136,737           1.0057
TXG05 154845                     153,040               137,498           1.1130
TXO05 002873                     144,630               142,165           1.0173
TXO05 003463                     248,570               245,102           1.0141
TXO05 003674                     729,700               791,413            .9220
TXO05 003710                   1,875,130             1,944,470            .9643



                     Total Self-Reported Mineral Value:           8,614,180

                     Divided by ISD Mineral Ratio:                    .9837**

                     Estimated PTD Mineral Value:                 8,756,918


          ** See Stratified Ratio Detail report for more data