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DATE:   1/27/2004        Comptroller Of Public Accounts             PAGE:      1
TIME: 09:21                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    233  Val Verde
                                233-901  San Felipe-Del Rio CISD

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

PSU233 F6000                   5,392,460             5,539,523            .9734
PSU233 G7050                   3,409,710             3,240,272           1.0522
PSU233 G9000                     788,950               735,900           1.0720
PSU233 K1150                   1,924,590             2,116,357            .9093
PSU233 O4500                   2,164,160             2,341,973            .9240
PSU233 O5000                   5,967,780             7,120,476            .8381
TXG01 164283                     704,880               693,343           1.0166
TXG01 173879                     939,480             1,306,189            .7192
TXG01 174615                   1,358,800             2,548,874            .5330
TXG01 183314                   6,678,970             5,766,802           1.1581
TXG01 185981                     427,360               427,247           1.0002
TXG01 189622                   3,628,800             3,612,099           1.0046



                     Total Self-Reported Mineral Value:          38,646,520

                     Divided by ISD Mineral Ratio:                    .9418**

                     Estimated PTD Mineral Value:                41,034,742


          ** See Stratified Ratio Detail report for more data