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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 15:56                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    162  McMullen
                                162-904  McMullen County

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

PSU162 B7700                   7,721,294             8,253,443            .9355
PSU162 D4400                   3,850,174             3,998,437            .9629
PSU162 F1500                   2,337,542             2,428,413            .9625
PSU162 G5950                   1,500,043             1,583,316            .9474
PSU162 L3651                   1,961,698             1,933,297           1.0146
PSU162 M1960                   1,300,047             1,323,193            .9825
PSU162 R5354                   4,348,280             4,355,174            .9984
PSU162 S0750                  19,120,671            18,861,647           1.0137
PSU162 W0500                     226,341               260,804            .8678
TXG01 168200                     128,486               139,090            .9237
TXG01 191548                  10,406,464            10,663,810            .9758
TXO01 009228                     292,582               301,914            .9690



                     Total Self-Reported Mineral Value:         126,321,070

                     Divided by ISD Mineral Ratio:                    .9832**

                     Estimated PTD Mineral Value:               128,479,526


          ** See Stratified Ratio Detail report for more data