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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      3
TIME: 20:33                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    182  Palo Pinto
                                182-902  Graford

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

PSU182 1621                      422,410               405,480           1.0417
PSU182 1925                       83,360                65,730           1.2682
PSU182 847                        23,770                28,060            .8471
TXG07B043334                     142,400               101,920           1.3971
TXG07B043537                     144,520               122,060           1.1840
TXG07B094543                     103,580               105,360            .9831
TXG07B186167                     209,180               169,824           1.2317
TXG07B186247                     260,410               203,926           1.2769
TXG07B186647                     489,960               306,039           1.6009
TXG07B189352                     255,970               265,490            .9641
TXO07B028320                      38,880                36,495           1.0653
TXO07B029203                   1,887,270             1,426,496           1.3230



                     Total Self-Reported Mineral Value:          22,653,150

                     Divided by ISD Mineral Ratio:                   1.2548**

                     Estimated PTD Mineral Value:                18,053,196


          ** See Stratified Ratio Detail report for more data