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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      5
TIME: 14:00                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    075  Fayette
                                075-906  Fayetteville

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

TXG03 132269                     522,390               465,851           1.1213
TXG03 132918                   1,196,091             1,224,436            .9768
TXG03 147989                     645,040               518,754           1.2434
TXG03 148929                     300,310               255,926           1.1734
TXG03 149891                     466,880               380,001           1.2286
TXG03 156821                     154,770               168,353            .9193
TXG03 157280                     158,570               166,937            .9498
TXG03 161535                   1,011,270             1,109,502            .9114
TXG03 164837                   1,099,600             1,126,265            .9763
TXG03 166348                     423,360               398,310           1.0628
TXG03 168242                   1,490,861             1,476,027           1.0100
TXO03 024044                     967,140               846,757           1.1421



                     Total Self-Reported Mineral Value:          16,659,070

                     Divided by ISD Mineral Ratio:                   1.0368**

                     Estimated PTD Mineral Value:                16,067,776


          ** See Stratified Ratio Detail report for more data