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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      4
TIME: 16:03                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    169  Montague
                                169-908  Montague

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

TXO09 004517                      12,430                12,772            .9732
TXO09 004624                      65,900                66,813            .9863
TXO09 004889                      13,370                13,102           1.0204
TXO09 004890                     144,960               133,400           1.0866
TXO09 014663                      79,060                85,203            .9279
TXO09 015216                      96,850                93,628           1.0344
TXO09 016852                      34,120                42,232            .8079
TXO09 017966                     186,990               187,254            .9985
TXO09 018036                      96,170               101,989            .9429
TXO09 023835                      46,590                42,651           1.0923
TXO09 028017                      48,100                45,087           1.0668
TXO09 028320                     116,850               115,311           1.0133



                     Total Self-Reported Mineral Value:           1,288,490

                     Divided by ISD Mineral Ratio:                   1.0021**

                     Estimated PTD Mineral Value:                 1,285,790


          ** See Stratified Ratio Detail report for more data