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DATE:   1/27/2004        Comptroller Of Public Accounts             PAGE:      2
TIME: 09:21                  Property Tax Division                   RPT: MIN704
                           2003 Property Value Study
                          Minerals Category Worksheet
                                    233  Val Verde
                                233-903  Comstock

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

PSU233 B1700                   2,243,830             3,567,124            .6290
PSU233 B2100                     754,460               756,419            .9974
PSU233 B7050                     316,170               319,911            .9883
PSU233 E5000                  24,688,950            23,996,043           1.0288
PSU233 J1900                     922,590             1,018,869            .9055
PSU233 J1950                     189,160               243,089            .7781
PSU233 J8300                     184,670               185,112            .9976
PSU233 N5060                   3,374,330             3,154,367           1.0697
PSU233 N5065                     454,630               846,500            .5370
PSU233 N7000                   3,290,260             2,679,441           1.2279
PSU233 N7050                   1,912,140             1,934,251            .9885
TXG01 000376                     663,950               645,812           1.0280
TXG01 000498                     166,440               110,612           1.5047
TXG01 000499                     306,810               251,290           1.2209
TXG01 000505                     596,690               657,955            .9068
TXG01 052352                     327,460               377,857            .8666
TXG01 075468                     150,660               414,185            .3637
TXG01 077182                     311,500               507,095            .6142
TXG01 079224                     266,000               246,516           1.0790
TXG01 079446                   1,032,200             1,379,200            .7484
TXG01 089655                   1,563,380             1,246,061           1.2546
TXG01 093366                     885,500               875,928           1.0109
TXG01 094155                   1,507,690             1,722,541            .8752
TXG01 100974                   1,032,260             1,012,536           1.0194
TXG01 113570                     231,270               202,015           1.1448
TXG01 141043                     142,190               139,308           1.0206
TXG01 150759                   1,457,830             1,629,053            .8948
TXG01 161504                   1,862,810             1,614,820           1.1535
TXG01 161987                     542,260               986,723            .5495
TXG01 163603                   1,073,820             1,016,471           1.0564
TXG01 165989                     409,190               414,264            .9877
TXG01 167077                     290,470               414,991            .6999
TXG01 173823                   1,701,050             1,636,840           1.0392
TXG01 179191                     806,410               967,152            .8337
TXG01 182475                   1,744,130             1,726,379           1.0102



                     Total Self-Reported Mineral Value:          59,571,230

                     Divided by ISD Mineral Ratio:                    .9733**

                     Estimated PTD Mineral Value:                61,205,415


          ** See Stratified Ratio Detail report for more data