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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 21:36                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    238  Ward
                                238-902  Monahans-Wickett-Pyote

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

PSU238     900517             23,661,660            23,457,434           1.0087
TXG08 042885                   2,447,090             2,265,720           1.0800
TXG08 048613                   6,053,770             5,983,010           1.0118
TXG08 178573                   7,706,520             7,440,067           1.0358
TXG08 180059                   4,064,600             3,844,084           1.0573
TXG08 181240                   2,256,510             2,252,912           1.0015
TXG08 184830                   4,243,650             3,302,986           1.2847
TXG08 185569                     710,080               714,949            .9931
TXG08 189155                   8,262,400             6,135,120           1.3467
TXG08 189706                   4,621,950             4,624,922            .9993
TXO08 014440                     936,750               903,982           1.0362
TXO08 036033                   1,102,850             1,111,739            .9920



                     Total Self-Reported Mineral Value:         473,755,750

                     Divided by ISD Mineral Ratio:                   1.0650**

                     Estimated PTD Mineral Value:               444,841,080


          ** See Stratified Ratio Detail report for more data