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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      7
TIME: 20:34                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    183  Panola
                                183-904  Gary

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

PSU183 20371                   1,080,190             1,158,135            .9326
PSU183 23150                     563,290               456,529           1.2338
PSU183 24675                     703,350               743,438            .9460
PSU183 24763                   1,289,540             1,100,641           1.1716
PSU183 25667                     297,800               280,109           1.0631
PSU183 40816                     860,030             1,058,308            .8126
PSU183 41814                   1,102,140             1,132,029            .9735
TXG06 029979                   1,756,010             1,699,621           1.0331
TXG06 133473                     191,370               195,689            .9779
TXG06 135120                     121,140               122,516            .9887
TXG06 142239                     157,090               162,830            .9647
TXG06 153458                     344,780               351,518            .9808
TXG06 153609                   1,246,470             1,289,314            .9667
TXG06 157583                     366,800               266,832           1.3746
TXG06 159809                     519,600               516,422           1.0061
TXG06 163223                     340,990               315,177           1.0819
TXG06 164601                     388,860               286,020           1.3595
TXG06 166870                     436,340               270,175           1.6150
TXG06 168109                     225,670               209,299           1.0782
TXG06 168329                     541,000               467,038           1.1583
TXG06 168873                     121,270               125,267            .9680
TXG06 178465                   1,042,550               744,233           1.4008
TXG06 178983                     830,770               809,506           1.0262



                     Total Self-Reported Mineral Value:          50,862,620

                     Divided by ISD Mineral Ratio:                   1.0557**

                     Estimated PTD Mineral Value:                48,179,047


          ** See Stratified Ratio Detail report for more data