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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      3
TIME: 20:15                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    168  Mitchell
                                168-903  Westbrook

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

TXO08 002890                  12,071,470            12,015,536           1.0046
TXO08 002891                   1,593,420             1,538,449           1.0357
TXO08 002910                   2,531,819             2,478,813           1.0213
TXO08 011428                     498,270               484,914           1.0275
TXO08 020831                   7,574,044             6,966,190           1.0872
TXO08 020847                  41,197,922            42,585,507            .9674
TXO08 021120                   3,192,021             3,102,776           1.0287
TXO08 024946                     180,970               201,619            .8975
TXO08 027888                      83,130                86,055            .9660
TXO08 035242                     139,700               139,495           1.0014
TXO08 035495                   2,060,520             2,122,855            .9706
TXO08 036005                      79,080                76,489           1.0338
TXO08 037009                     303,910               299,305           1.0153



                     Total Self-Reported Mineral Value:          80,324,800

                     Divided by ISD Mineral Ratio:                    .9955**

                     Estimated PTD Mineral Value:                80,687,896


          ** See Stratified Ratio Detail report for more data