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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      6
TIME: 19:52                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    146  Liberty
                                146-906  Liberty

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

TXG03 064503                     405,171               382,213           1.0600
TXG03 136648                   2,626,238             2,209,834           1.1884
TXG03 166334                   4,281,907             4,521,719            .9469
TXG03 177580                   8,700,620             8,227,880           1.0574
TXG03 177617                   4,088,250             4,205,770            .9720
TXG03 177913                  15,348,054            16,103,581            .9530
TXG03 178217                  11,371,158             7,943,176           1.4315
TXG03 182273                   2,442,047             2,912,779            .8383
TXG03 185403                   6,970,057             7,026,694            .9919
TXG03 189035                   3,918,563             3,968,622            .9873
TXG03 191474                   7,818,828             8,006,235            .9765
TXG03 194212                  20,968,349            21,783,065            .9625
TXO03 002676                   1,229,266             1,260,317            .9753



                     Total Self-Reported Mineral Value:         107,255,000

                     Divided by ISD Mineral Ratio:                   1.0211**

                     Estimated PTD Mineral Value:               105,038,684


          ** See Stratified Ratio Detail report for more data