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DATE:   1/22/2004        Comptroller Of Public Accounts             PAGE:      6
TIME: 16:13                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    178  Nueces
                                178-906  London

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

PSU178 C5600                   4,122,929             4,148,284            .9938
PSU178 C5650                     715,243               725,926            .9852
PSU178 C5730                   1,056,976               982,252           1.0760
PSU178 C7030                     160,404               177,251            .9049
PSU178 C7600                     476,463               564,006            .8447
PSU178 C8450                     246,479               265,999            .9266
TXG04 075659                      21,686                20,474           1.0591
TXG04 095717                     447,950               483,855            .9257
TXO04 001584                      53,827                56,525            .9522
TXO04 010366                     183,400               187,693            .9771
TXO04 011108                      71,682                82,769            .8660
TXO04 012841                      54,195                59,509            .9107
TXO04 013108                      45,703                42,856           1.0664



                     Total Self-Reported Mineral Value:           7,872,720

                     Divided by ISD Mineral Ratio:                    .9816**

                     Estimated PTD Mineral Value:                 8,020,293


          ** See Stratified Ratio Detail report for more data