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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      4
TIME: 14:18                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    093  Grimes
                                093-905  Richards

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

TXG03 166267                   1,062,052             1,139,269            .9322
TXG03 169101                   1,821,958             1,854,442            .9824
TXG03 170353                   1,384,063               934,637           1.4808
TXG03 171200                   1,846,517             2,118,099            .8717
TXG03 172609                     808,875               749,091           1.0798
TXG03 173242                     497,252               567,350            .8764
TXG03 173280                     439,951               449,251            .9792
TXG03 174461                   1,182,929             1,395,144            .8478
TXG03 190197                   1,961,970             1,961,393           1.0002
TXG03 191566                     800,068               412,039           1.9417



                     Total Self-Reported Mineral Value:          14,907,350

                     Divided by ISD Mineral Ratio:                   1.0194**

                     Estimated PTD Mineral Value:                14,623,651


          ** See Stratified Ratio Detail report for more data