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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      5
TIME: 20:51                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    201  Rusk
                                201-907  Mount Enterprise

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

PSU201 62350                     427,790               436,959            .9790
PSU201 66927                      62,510                49,007           1.2755
PSU201 69710                     186,890               191,219            .9773
PSU20121800                      224,790               224,996            .9990
TXG06 016800                     359,810               299,717           1.2004
TXG06 051390                     528,190               467,567           1.1296
TXG06 094017                     193,270               177,277           1.0902
TXG06 094575                     157,580               152,621           1.0324
TXG06 096088                     405,050               435,574            .9299
TXG06 154976                      70,010                72,866            .9608
TXG06 156284                      63,320                65,280            .9699
TXG06 166608                     180,710               175,174           1.0316



                     Total Self-Reported Mineral Value:           2,950,050

                     Divided by ISD Mineral Ratio:                   1.0406**

                     Estimated PTD Mineral Value:                 2,834,951


          ** See Stratified Ratio Detail report for more data