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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      2
TIME: 20:12                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    165  Midland
                                165-902  Greenwood

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

TXG08 019496                     795,000               786,663           1.0105
TXO08 006390                   1,134,919               969,877           1.1701
TXO08 016363                   1,201,860             1,200,127           1.0014
TXO08 016417                   1,170,900             1,389,756            .8425
TXO08 016486                     489,420               470,594           1.0400
TXO08 018187                  10,855,208            11,053,188            .9820
TXO08 021487                  14,299,634            11,001,057           1.2998
TXO08 022456                     165,070               169,918            .9714
TXO08 033133                     212,930               234,415            .9083
TXO08 033432                     275,020               263,473           1.0438
TXO08 033711                     102,800               127,891            .8038
TXO08 033957                     554,850               553,205           1.0029
TXO08 036648                   1,240,400             1,228,832           1.0094
TXO08 036688                     832,600               790,924           1.0526



                     Total Self-Reported Mineral Value:         105,360,370

                     Divided by ISD Mineral Ratio:                   1.1022**

                     Estimated PTD Mineral Value:                95,590,973


          ** See Stratified Ratio Detail report for more data