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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 15:46                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    156  Martin
                                058-909  Sands

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

TXO08 032841                     141,890               137,409           1.0326
TXO08 034001                   3,786,680             3,917,313            .9666
TXO08 034069                     185,520               184,168           1.0073
TXO08A060465                   5,070,020             4,856,631           1.0439
TXO08A060521                   5,144,148             5,319,374            .9670
TXO08A060687                  11,596,687            11,599,572            .9997
TXO08A066847                   2,394,910             2,451,761            .9768
TXO08A067333                   3,454,610             3,448,543           1.0017
TXO08A067619                     445,380               487,965            .9127
TXO08A067883                   3,024,300             2,878,790           1.0505
TXO08A068277                   3,662,670             3,672,859            .9972
TXO08A068327                   3,742,250             3,809,625            .9823



                     Total Self-Reported Mineral Value:          65,941,910

                     Divided by ISD Mineral Ratio:                    .9973**

                     Estimated PTD Mineral Value:                66,120,435


          ** See Stratified Ratio Detail report for more data