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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      2
TIME: 14:55                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    117  Hutchinson
                                117-903  Sanford-Fritch

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

PSU117 10980                     270,100               274,048            .9855
PSU117 16680                     460,020               376,172           1.2228
PSU117 17520                     104,420               101,017           1.0336
PSU117 17680                     967,880               833,188           1.1616
PSU117 17960                     266,280               206,181           1.2914
PSU117 18160                   1,132,780             1,004,408           1.1278
PSU117 18180                     399,470               365,149           1.0939
PSU117 4420                      600,590               595,908           1.0078
PSU117 660                       121,460               169,345            .7172
TXG10 023670                     245,420               190,299           1.2896
TXG10 023789                     950,760               523,368           1.8166
TXG10 023809                     346,680               209,894           1.6516
TXG10 023810                      94,100                73,521           1.2799
TXG10 024488                   1,247,390               955,560           1.3054
TXG10 024868                     457,180               325,038           1.4065
TXG10 024889                     166,130                91,649           1.8126
TXG10 025224                     298,640               195,280           1.5292
TXG10 037694                     385,010               483,297            .7966
TXG10 041235                     240,460               292,159            .8230
TXG10 122804                     920,290               495,492           1.8573
TXG10 142722                   1,538,870             1,389,447           1.1075



                     Total Self-Reported Mineral Value:          31,064,320

                     Divided by ISD Mineral Ratio:                   1.2255**

                     Estimated PTD Mineral Value:                25,348,282


          ** See Stratified Ratio Detail report for more data