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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      5
TIME: 13:17                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    039  Clay
                                039-905  Midway

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

TXG09 111870                     224,940               240,155            .9366
TXO09 001763                      10,930                13,068            .8363
TXO09 001806                     229,550               215,358           1.0658
TXO09 008670                      63,090                59,842           1.0542
TXO09 009218                      47,580                56,785            .8378
TXO09 010435                     547,400               532,486           1.0280
TXO09 014182                     216,180               187,573           1.1525
TXO09 014427                     143,130               145,318            .9849
TXO09 018435                     312,530               296,218           1.0550
TXO09 018615                      31,830                27,007           1.1785
TXO09 019208                      57,690                55,376           1.0417
TXO09 020753                      19,810                24,189            .8189
TXO09 020797                     174,570               171,312           1.0190
TXO09 020990                      25,320                28,040            .9029
TXO09 021042                     441,580               475,506            .9286
TXO09 021076                     284,920               229,204           1.2430
TXO09 021222                     197,440               180,088           1.0963
TXO09 021601                      80,170                76,104           1.0534
TXO09 021638                      33,690                31,743           1.0613
TXO09 021694                      16,990                16,956           1.0020
TXO09 022124                     227,550               220,916           1.0300
TXO09 022466                     150,800               150,214           1.0039
TXO09 022544                      14,050                14,400            .9756
TXO09 022574                     118,480               122,701            .9655
TXO09 024074                      69,900                54,570           1.2809
TXO09 024594                      55,760                47,809           1.1663
TXO09 024993                     131,600               117,856           1.1166
TXO09 026919                     178,570               190,081            .9394
TXO09 027408                     162,060               161,581           1.0029
TXO09 030050                      59,810                59,453           1.0060



                     Total Self-Reported Mineral Value:          11,331,660

                     Divided by ISD Mineral Ratio:                   1.0300**

                     Estimated PTD Mineral Value:                11,001,612


          ** See Stratified Ratio Detail report for more data