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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      5
TIME: 20:03                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    158  Matagorda
                                158-906  Van Vleck

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

PSU158 10200                   2,065,400             2,007,049           1.0290
PSU158 10240                  12,922,077            12,299,404           1.0506
PSU158 10285                   3,423,550             3,569,369            .9591
PSU158 455                       389,560               352,339           1.1056
PSU158 810                     1,694,360             1,776,215            .9539
TXG03 075192                   1,101,250             1,262,781            .8720
TXG03 094134                     341,420               274,431           1.2441
TXG03 094833                   1,499,910             1,443,846           1.0388
TXG03 171285                   1,223,000             1,220,176           1.0023
TXG03 175397                     970,930               963,025           1.0082
TXG03 182592                   1,119,730             1,103,961           1.0142
TXG03 185361                   3,468,980             3,491,768            .9934
TXG03 187137                   1,237,890             1,298,831            .9530
TXG03 188424                   1,791,970             1,716,742           1.0438
TXG03 189090                     197,470               223,955            .8817
TXG03 189735                     540,830               530,249           1.0199
TXG03 191429                   2,496,760             2,518,294            .9914
TXG03 192511                   2,252,180             2,291,197            .9829
TXO03 009495                     287,700               276,884           1.0390
TXO03 020364                     207,580               181,554           1.1433
TXO03 024176                     656,020               653,041           1.0045



                     Total Self-Reported Mineral Value:          39,844,304

                     Divided by ISD Mineral Ratio:                   1.0110**

                     Estimated PTD Mineral Value:                39,410,785


          ** See Stratified Ratio Detail report for more data