Estate of H.A. True, Jr. - Page 176





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                  3. Summary of Proposed Values and Court’s Determinations of Values of Interests              
                  in Eighty-Eight Oil                                                                          

          Value as of            Book value  Statutory   Kimball    Final Lax Respondent’s  Court’s            
          January 1, 1993       reported onnotice value  reports     report    position     values             
                                  return                                                                       
          Marketable Minority Value N/A        N/A     $25,174,683    N/A      $25,174,683$25,174,683          
          Less: Marketability                          (8,811,139)             (2,517,468)(2,517,468)          
          Discount                  N/A        N/A         35%        N/A         10%        10%               
          Nonmarketable Minority                                                                               
          Value                     N/A        N/A      16,363,544    N/A      22,657,215 22,657,215           
          Value of 24.84% Interests                                                                            
          (total) Transferred to                                                                               
          True Sons              2,556,378  13,248,002  4,064,704     N/A      5,628,052   5,628,052           


          Value as of                                                                                          
          June 4, 1994                                                                                         
          Marketable Minority Value N/A        N/A      31,069,285  40,000,000 40,000,000 31,069,285           
          Less: Marketability                          (10,874,250) (18,000,000)          (3,106,928)          
          Discount                  N/A        N/A         35%        45%         N/A        10%               
          Nonmarketable Minority                                                                               
          Value                     N/A        N/A      20,195,035  22,000,000 40,000,000 27,962,357           
          Value of 38.47% Interest                                                                             
          Owned at Dave True’s                                                                                 
          Death                  9,546,285  26,505,830  7,769,030   8,463,400  15,388,000 10,757,119           












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