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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      3
TIME: 14:18                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    093  Grimes
                                093-904  Navasota

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

TXG03 148290                     477,795               468,235           1.0204
TXG03 149117                     145,544               151,378            .9614
TXG03 151151                     604,868               722,531            .8371
TXG03 151503                     164,892               197,265            .8358
TXG03 153774                     697,570               760,289            .9175
TXG03 154729                   1,469,400             1,417,636           1.0365
TXG03 156029                   1,048,115             1,054,967            .9935
TXG03 157682                     785,607               781,065           1.0058
TXG03 164025                   2,022,349             2,049,870            .9865
TXG03 173651                   1,219,472             1,152,351           1.0582
TXG03 192047                   1,991,373             1,939,153           1.0269
TXG03 192756                   1,530,830             1,324,755           1.1555



                     Total Self-Reported Mineral Value:          55,868,590

                     Divided by ISD Mineral Ratio:                   1.0115**

                     Estimated PTD Mineral Value:                55,233,406


          ** See Stratified Ratio Detail report for more data