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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 12:43                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    008  Austin
                                008-901  Bellville

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

PSU008 1097                      194,580               184,035           1.0572
PSU008 1122                      764,690               734,565           1.0410
TXG03 164970                   1,356,370             1,400,197            .9686
TXG03 167650                   1,458,500             1,448,495           1.0069
TXG03 169525                   3,397,650             3,416,563            .9944
TXG03 170779                     711,120               652,554           1.0897
TXG03 171931                     916,880               906,495           1.0114
TXG03 174174                   4,241,610             4,518,492            .9387
TXG03 175403                     834,490               725,354           1.1504
TXG03 182413                     259,230               283,685            .9137
TXO03 008909                   1,521,600             1,438,437           1.0578
TXO03 023774                     232,800               230,117           1.0116



                     Total Self-Reported Mineral Value:          21,302,030

                     Divided by ISD Mineral Ratio:                    .9969**

                     Estimated PTD Mineral Value:                21,368,272


          ** See Stratified Ratio Detail report for more data