EXHIBIT 99.3

January 5, 2005

Mr. Ron E. Hooper
Senior Vice President
Bank of America, N.A., Trustee
Williams Coal Seam Gas Royalty Trust
901 Main Street, Suite 1700
Dallas, Texas 75201

Re:	Proved Reserves and Future Net Revenues
	As of December 31, 2004

Dear Mr. Hooper:

      At your request, we estimated the proved reserves and projected the future net revenues from the gas reserves in the Fruitland Coal Formation that are attributable to the subject interests of the Williams Coal Seam Gas Royalty Trust (“WTU”). These interests consist of net profits interests in natural gas properties located in the San Juan Basin in Colorado and New Mexico.

      A summary of the reserves for the Underlying Properties and Royalty Interests (net to the Trust) is as follows:

	Net Gas		Future Net		Present Value
	Reserves,		Revenues,		at 10 Percent
	MMcf		M$		Per Annum, M$
The Underlying Properties
Proved Developed		99,091		309,731		217,300
Proved Undeveloped		14,661		35,426		20,689
Total Proved		113,752		345,157		237,989
The Royalty Interests (Net to the Trust)
Proved Developed		35,527		87,222		52,705
Proved Undeveloped		1,861		4,442		2,212
Total Proved		37,388		91,665		54,917

      In order to estimate the reserves to the WTU, it was necessary to estimate the reserves attributable to (i) the “Underlying Properties,” which are certain working interest properties (“Working Interest Properties”) and net profits interests properties (“Farmout Properties”) that are managed by Williams Production Company (“WPC”) and (ii) the “Royalty Interests,” the variable net revenue interest conveyed to WTU by WPC. WTU receives a “Specified Percentage” of “Net Proceeds” from gas produced and sold from the Working Interest Properties and from the revenue stream of the Farmout Properties.

Mr. Ron E. Hooper	January 5, 2005
Bank of America, N.A., Trustee	Page 2
Williams Coal Seam Gas Royalty Trust

Currently, for 320-acre spaced wells in the Working Interest Properties, and all wells in the Farmout Properties, the percentage of net proceeds is 60 percent.

      For the Working Interest Properties, overhead costs (beyond the standard overhead charges for the non-operated properties) have not been included, nor have the effects of depreciation, depletion, and Federal Income Tax. Net Proceeds is defined as revenues derived from the sale of Working Interest Properties gas volumes less severance and ad valorem taxes, lease royalty payments, and operating expenses in excess of the estimates shown in Exhibit B of the Trust Conveyance. The reserves attributable to the Royalty Interests from the Working Interest Properties were computed by multiplying the net gas reserves of the Working Interest Properties by the ratio of (i) the net revenue received by WTU from the Working Interest Properties to (ii) total revenues from the Working Interest Properties after deduction of severance and ad valorem taxes.

      The proved reserves were estimated in accordance with the definitions contained in Securities and Exchange Commission Regulation S-X, Rule 4-10(a). Estimates of future net revenues and discounted future net revenues are not intended and should not be interpreted to represent the fair market value of the estimated reserves.

      The production forecast for the total proved reserves and future net revenues as of December 31, 2004 attributable to the Underlying Properties and to the WTU are shown on Table 1. Forecasts for proved developed reserves and proved undeveloped reserves are shown on Tables 2 and 3. The proved reserves and future net revenues as of December 31, 2004 attributable to the individual Underlying Properties are shown on the attached one-line summary identified as Table 4.

      The gas reserves for the Fruitland Coal were primarily estimated by decline curve analyses utilizing type curves for the various areas in the San Juan Basin. These type curves were developed for each area and were based on production histories and the initial reservoir pressures of the wells in the separate areas.

      In October 2002, the field rules for the Basin Fruitland Coal Gas Pool in New Mexico were revised to allow an optional second (infill) well on the standard 320-acre spacing unit in certain designated areas of the pool. As of July 2003, the field rules were further modified to allow such infill drilling in all areas of the pool. The Working Interest Properties contain 450 infill locations of which 249 have been drilled and 201 additional locations are evaluated as containing proved undeveloped reserves. The Trust provides for an infill NPI, a net profits interest that entitles the Trust to receive 20 percent of the Infill Net Proceeds. Infill Net Proceeds is determined on an aggregate basis, not on a well-by-well basis.

      The gas price of $5.440 per MMBtu used in these projections for the Farmout Properties is based on the December 31, 2004 Blanco Hub Index Price reported by WPC. For the Working Interest Properties, the adjusted price of $3.720 per MMBtu was employed as provided for in the Gas Purchase Contract. Beginning in year 2013, after which the contract will no longer be in effect, the gas price is $5.440 per MMBtu, based on the December 31, 2004 Blanco Hub Index Price. Gathering and transportation charges, taxes, treating, and other costs payable prior to the delivery points were deducted

Mr. Ron E. Hooper	January 5, 2005
Bank of America, N.A., Trustee	Page 3
Williams Coal Seam Gas Royalty Trust

from the index price in order to determine the wellhead price used in this evaluation. These prices and deductions were held constant.

      Deductions for lease royalty and production and ad valorem taxes for the Working Interest Properties were based on the December 31, 2004 index gas price of $5.440 per MMBtu less appropriate deductions as reported by WPC.

      Operating expense estimates were based on expenses incurred during 2004 and were not escalated. Where appropriate, estimated operating expenses which exceeded the operating expenses in Exhibit B to the Conveyance were deducted in calculating Net Proceeds and, therefore, reduced the amounts payable to the WTU.

      In preparation of our estimates, we relied on production histories, accounting and cost data, engineering and geological information supplied by WPC, and data from public records. The ownership interests evaluated herein were provided by WPC and were employed as presented. No independent verification of these interests was made by Miller and Lents, Ltd.

      Capital expenditures to plug and abandon wells are considered to be equal to the salvage values of the wells at the time of abandonment. We did not include any consideration for the future environmental restoration that might be required as such was beyond the scope of our assignment. In our projection of future net revenues, no provisions are made for production prepayments or for the consequences of future production balancing. As instructed, we assumed for purposes of this report, that the Trust will continue as long as there is economic production from the contributing properties.

      The evaluations presented in this report, with the exceptions of those parameters specified by others, reflect our informed judgments based on accepted standards of professional investigation but are subject to those generally recognized uncertainties associated with interpretation of geological and engineering information. Government policies and market conditions different from those employed in this study may cause the total quantity of oil or gas to be recovered, actual production rates, prices received, and operating and capital costs to vary from those presented in this report

Very truly yours, MILLER AND LENTS, LTD.
By	/s/ Stephen M. Hamburg
	Stephen M. Hamburg
	Vice President

WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMICS AS OF DECEMBER 31, 2004
UNDERLYING PROPERTIES AND TRUST INTERESTS

NON-ESCALATED 12/31/2004 PRICES
TOTAL PROVED RESERVES

	Underlying Properties																				Trust Interests
	Natural Gas, MMCF						Revenue		Net Oper Costs, M$						Future Net Revenue, M$				Tax Credits, M$				Future Net Revenue, M$				Tax Credits, M$
					Price		to Net Intr		Oper		Adv&Sev		Future				Disc			Disc	Net				Disc			Disc
Year	Gross		Net		$/Mcf		M$		Expns		Taxes		Capital		Annual		@10%		Annual	@10%	MMCF		Annual		@10%		Annual	@10%
2005		236,961		20,731		3.830		79,399		5,154		8,189		6,499		59,557		57,187				6,106		12,678		12,079
2006		205,210		17,916		3.829		68,605		4,584		7,103		2,315		54,604		47,603				5,353		11,009		9,505
2007		174,080		14,551		3.829		55,722		3,840		5,763		506		45,612		36,078				4,528		9,276		7,257
2008		144,168		11,699		3.830		44,804		3,200		4,626		42		36,937		26,503				3,719		7,622		5,403
2009		116,207		9,384		3.830		35,941		2,677		3,703				29,561		19,238				3,000		6,166		3,962
2010		93,497		7,548		3.831		28,912		2,261		2,973				23,678		13,975				2,434		5,014		2,919
2011		75,423		6,090		3.831		23,330		1,930		2,395				19,005		10,173				1,987		4,100		2,163
2012		60,991		4,928		3.831		18,879		1,665		1,935				15,279		7,417				1,619		3,347		1,601
2013		49,426		3,997		3.831		15,313		1,450		1,567				12,296		5,413				1,660		6,228		2,685
2014		40,129		3,248		3.832		12,446		1,272		1,272				9,902		3,952				1,348		5,060		1,975
2015		32,633		2,646		3.832		10,139		1,127		1,035				7,977		2,887				1,096		4,114		1,455
2016		26,601		2,162		3.832		8,283		1,012		844				6,427		2,109				892		3,347		1,072
2017		21,682		1,767		3.832		6,771		911		690				5,170		1,538				725		2,722		790
2018		17,693		1,447		3.832		5,544		825		564				4,154		1,120				589		2,213		582
2019		14,424		1,182		3.833		4,531		744		460				3,327		813				478		1,795		428
2020		11,742		962		3.833		3,686		661		374				2,651		587				387		1,452		313
2021		9,444		774		3.833		2,969		575		300				2,094		420				311		1,168		228
2022		7,408		614		3.834		2,354		486		237				1,631		296				248		933		163
2023		5,669		476		3.835		1,824		397		183				1,245		205				197		739		118
2024		4,144		340		3.838		1,306		280		129				898		133				151		570		83
AFTER		14,014		1,292		3.834		4,954		1,308		493				3,153		343				562		2,113		137
TOTAL		1,361,543		113,752		3.830		435,712		36,359		44,835		9,361		345,157		237,989				37,388		91,665		54,917

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 1

WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMICS AS OF DECEMBER 31, 2004
UNDERLYING PROPERTIES AND TRUST INTERESTS

NON-ESCALATED 12/31/2004 PRICES
TOTAL PROVED DEVELOPED RESERVES

	Underlying Properties																				Trust Interests
	Natural Gas, MMCF						Revenue		Net Oper Costs, M$						Future Net Revenue, M$				Tax Credits, M$				Future Net Revenue, M$				Tax Credits, M$
					Price		to Net Intr		Oper		Adv&Sev		Future				Disc			Disc	Net				Disc			Disc
Year	Gross		Net		$/Mcf		M$		Expns		Taxes		Capital		Annual		@10%		Annual	@10%	MMCF		Annual		@10%		Annual	@10%
2005		225,612		19,705		3.831		75,483		4,884		7,754		—		62,844		60,459				6,106		12,678		12,079
2006		179,036		15,657		3.831		59,986		3,980		6,145		—		49,862		43,512				5,265		10,854		9,371
2007		141,979		12,403		3.832		47,524		3,250		4,852		—		39,422		31,192				4,260		8,804		6,889
2008		113,151		9,879		3.832		37,860		2,686		3,854		—		31,320		22,468				3,452		7,152		5,071
2009		90,547		7,906		3.833		30,302		2,244		3,076		—		24,981		16,247				2,781		5,781		3,716
2010		72,732		6,352		3.833		24,348		1,895		2,466		—		19,988		11,784				2,259		4,706		2,742
2011		58,617		5,123		3.834		19,637		1,618		1,984		—		16,035		8,570				1,848		3,855		2,035
2012		47,386		4,145		3.834		15,890		1,397		1,603		—		12,891		6,245				1,509		3,152		1,509
2013		38,412		3,363		3.834		12,894		1,217		1,298		—		10,379		4,557				1,526		5,733		2,472
2014		31,212		2,735		3.835		10,487		1,067		1,054		—		8,366		3,329				1,241		4,663		1,821
2015		25,411		2,231		3.835		8,553		945		859		—		6,749		2,434				1,010		3,796		1,343
2016		20,752		1,825		3.835		7,000		849		702		—		5,449		1,781				824		3,094		992
2017		16,944		1,495		3.835		5,732		764		574		—		4,394		1,301				671		2,521		732
2018		13,854		1,226		3.835		4,702		690		470		—		3,542		950				546		2,054		540
2019		11,316		1,004		3.836		3,850		619		385		—		2,847		692				444		1,671		398
2020		9,233		818		3.836		3,138		546		313		—		2,279		502				360		1,355		292
2021		7,460		662		3.836		2,539		471		252		—		1,816		362				291		1,094		214
2022		5,975		534		3.837		2,049		403		203		—		1,443		260				235		882		156
2023		4,753		424		3.838		1,626		337		160		—		1,128		185				188		707		114
2024		3,709		320		3.840		1,227		254		120		—		853		126				148		558		81
AFTER		13,854		1,287		3.836		4,937		1,302		492		—		3,143		342				561		2,110		137
TOTAL		1,131,945		99,091		3.833		379,763		31,415		38,617		—		309,731		217,300				35,527		87,222		52,705

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 2

WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMICS AS OF DECEMBER 31, 2004
UNDERLYING PROPERTIES AND TRUST INTERESTS

NON-ESCALATED 12/31/2004 PRICES
TOTAL PROVED UNDEVELOPED RESERVES

	Underlying Properties																						Trust Interests
	Natural Gas, MMCF						Revenue		Net Oper Costs, M$						Future Net Revenue, M$						Tax Credits, M$				Future Net Revenue, M$				Tax Credits, M$
					Price		to Net Intr		Oper		Adv&Sev		Future					Disc				Disc	Net				Disc			Disc
Year	Gross		Net		$/Mcf		M$		Expns		Taxes		Capital		Annual			@10%			Annual	@10%	MMCF		Annual		@10%		Annual	@10%
2005		11,348		1,026		3.816		3,916		270		435		6,499		(3,288	)		(3,272	)				—		—		—
2006		26,174		2,259		3.816		8,619		604		958		2,315		4,742			4,090					88		155		134
2007		32,101		2,148		3.816		8,198		590		911		506		6,191			4,886					268		471		367
2008		31,017		1,820		3.816		6,944		514		772		42		5,616			4,035					267		470		332
2009		25,660		1,478		3.816		5,640		433		627		—		4,580			2,991					218		384		246
2010		20,766		1,196		3.816		4,564		366		507		—		3,690			2,191					175		307		178
2011		16,807		968		3.816		3,693		312		411		—		2,970			1,603					139		245		128
2012		13,605		783		3.816		2,989		269		332		—		2,388			1,172					110		194		92
2013		11,014		634		3.816		2,420		233		269		—		1,917			855					133		496		213
2014		8,918		513		3.816		1,959		205		218		—		1,536			623					107		397		154
2015		7,222		416		3.816		1,586		182		176		—		1,228			453					85		318		112
2016		5,849		336		3.816		1,283		163		143		—		978			328					68		253		81
2017		4,738		272		3.816		1,039		148		116		—		776			237					54		201		58
2018		3,838		221		3.816		842		136		94		—		613			170					43		159		42
2019		3,108		178		3.816		680		125		76		—		480			121					34		125		29
2020		2,508		144		3.816		548		116		61		—		372			85					26		97		21
2021		1,984		113		3.816		430		104		48		—		278			58					20		73		14
2022		1,433		80		3.816		305		83		34		—		188			36					14		51		7
2023		916		52		3.816		199		60		22		—		117			20					9		32		4
2024		435		21		3.816		80		26		9		—		45			7					3		11		1
AFTER		160		5		3.816		17		6		1		—		10			2					1		2		0
TOTAL		229,599		14,661		3.816		55,950		4,944		6,219		9,361		35,426			20,689					1,861		4,442		2,212

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 3

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
STATE: COLORADO
PROVED DEVELOPED RESERVES
HENDRICKSON GU B #1 (NPI)		13385	NON-UNIT		32N10W20		1		23		1,677		282		1,131		0		0		0		1,131		770		12
SO UTE TRIBAL I 2 (NPI)		13389	NON-UNIT		32N10W07		1		19		1,917		322		1,293		0		0		0		1,293		947		17
SO UTE TRIBAL J #2 (NPI)		13390	NON-UNIT		32N10W07		1		26		1,545		260		1,042		0		0		0		1,042		671		22
TOTAL PROVED DEVELOPED 160-Acre Colorado							3				5,138		863		3,466		0		0		0		3,466		2,388
CARTER UTE #101 (NPI)		14449	NON-UNIT		32N10W12		1		26		2,774		466		1,871		0		0		0		1,871		1,264		6
CARTER UTE #106 NPI		13397	NON-UNIT		32N10W11		1		26		3,458		581		2,332		0		0		0		2,332		1,594		16
CARTER UTE #107(NPI)		13398	NON-UNIT		32N10W13		1		21		1,656		278		1,117		0		0		0		1,117		794		14
CLARK CUMMINS GU A #1 (NPI)		13383	NON-UNIT		32N10W19		1		32		3,082		518		2,079		0		0		0		2,079		1,294		13
HENDRICKSON GU A #1 (NPI)		13384	NON-UNIT		32N10W20		1		20		1,090		183		735		0		0		0		735		508		11
J B GARDNER GU A #1 (NPI)		13386	NON-UNIT		32N10W22		1		26		2,828		475		1,908		0		0		0		1,908		1,297		18
MONTGOMERY, M H #9 (NPI)		15248	NON-UNIT		32N10W12		1		29		4,273		718		2,882		0		0		0		2,882		1,915		15
ROBIN FRAZIER GU A #1 (NPI)		13387	NON-UNIT		32N10W23		1		24		2,314		389		1,561		0		0		0		1,561		1,075		19
SO UTE 10-3, 32-10 (NPI)		13399	NON-UNIT		32N10W10		1		26		3,147		529		2,123		0		0		0		2,123		1,454		21
SO UTE 15-3, 32-10 (NPI)		13400	NON-UNIT		32N10W15		1		33		4,056		681		2,736		0		0		0		2,736		1,717		9
SO UTE 16-2, 32-10 (NPI)		13401	NON-UNIT		32N10W16		1		27		3,234		543		2,181		0		0		0		2,181		1,468		10
SO UTE TRIBAL H #2 (NPI)		13388	NON-UNIT		32N10W18		1		29		2,151		361		1,451		0		0		0		1,451		916		2
SO UTE TRIBAL KK #1 (NPI)		13391	NON-UNIT		32N10W07		1		21		1,113		187		751		0		0		0		751		509		3
SO UTE TRIBAL LL #1 (NPI)		13392	NON-UNIT		32N10W08		1		21		1,524		256		1,028		0		0		0		1,028		720		4
SO UTE TRIBAL MM #1 (NPI)		13393	NON-UNIT		32N10W08		1		24		1,905		320		1,285		0		0		0		1,285		875		7
SO UTE TRIBAL NN #1 (NPI)		13394	NON-UNIT		32N10W17		1		21		1,491		250		1,006		0		0		0		1,006		700		5
SO UTE TRIBAL OO #1 (NPI)		13395	NON-UNIT		32N10W18		1		17		874		147		589		0		0		0		589		425		8
SO UTE TRIBAL SS #1 (NPI)		13396	NON-UNIT		32N10W21		1		24		1,883		316		1,270		0		0		0		1,270		852		20
TOTAL PROVED DEVELOPED: 320-Acre Colorado							18				42,852		7,199		28,905		0		0		0		28,905		19,376
TOTAL PROVED DEVELOPED: COLORADO							21				47,990		8,062		32,370		0		0		0		32,370		21,764
TOTAL PROVED RESERVES: COLORADO							21				47,990		8,062		32,370		0		0		0		32,370		21,764

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 4 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
STATE NEW MEXICO
PROVED DEVELOPED RESERVES
BLANCO #202A		5607	NON-UNIT		31N08W26		1		20		1,375		203		775		70		86		0		618		443		1166
BLANCO #203A		5610	NON-UNIT		31N08W35		1		17		761		112		429		45		48		0		336		243		1233
BLANCO #204A		5608	NON-UNIT		31N08W26		1		18		839		124		473		49		53		0		371		269		1165
DECKER GAS COM A #1S		5840	NON-UNIT		32N10W17		1		20		1,800		132		502		42		56		0		404		281		1133
HUERFANO UNIT #258S		2326	HUERFANO		27N10W36		1		14		274		39		148		22		16		0		109		80		1191
MOORE, WAYNE COM #2S		5268	NON-UNIT		31N09W16		1		16		380		14		54		7		6		0		40		29		1034
NE BLANCO UNIT #406A		5192	NEBU		31N07W22		1		17		761		6		23		2		3		0		18		13		1008
NE BLANCO UNIT #407A		17895	NEBU		30N07W21		1		12		218		2		6		1		1		0		5		4		695
NE BLANCO UNIT #408A		5196	NEBU		31N07W20		1		13		243		2		7		1		1		0		5		4		1215
NE BLANCO UNIT #410A		17897	NEBU		31N07W09		1		19		2,557		20		76		5		8		0		62		47		668
NE BLANCO UNIT #413A		17899	NEBU		30N07W20		1		1		6		0		0		0		0		0		0		0		692
NE BLANCO UNIT #418A		5210	NEBU		31N07W28		1		16		606		5		18		2		2		0		14		10		1217
NE BLANCO UNIT #422A		5146	NEBU		31N07W20		1		16		606		5		18		2		2		0		14		10		1011
NE BLANCO UNIT #426A		5231	NEBU		31N06W06		1		17		761		6		23		2		3		0		18		13		1219
NE BLANCO UNIT #430A		5245	NEBU		30N07W05		1		18		917		7		27		2		3		0		22		16		1013
NE BLANCO UNIT #433A		1000	NEBU		30N07W19		1		13		243		2		7		1		1		0		5		4		1208
NE BLANCO UNIT #435A		4894	NEBU		30N08W01		1		17		704		5		21		2		2		0		17		12		999
NE BLANCO UNIT #436A		1149	NEBU		31N06W19		1		16		1,288		10		38		3		4		0		31		24		1004
NE BLANCO UNIT #437A		5251	NEBU		30N08W12		1		17		715		6		21		2		2		0		17		12		1015
NE BLANCO UNIT #438A		1160	NEBU		31N06W18		1		18		846		7		25		2		3		0		20		14		1000
NE BLANCO UNIT #440A		709	NEBU		31N07W11		1		19		1,033		8		31		3		3		0		25		18		1207
NE BLANCO UNIT #441A		1545	NEBU		30N08W24		1		14		669		5		20		2		2		0		16		12		735
NE BLANCO UNIT #442A		17900	NEBU		31N07W11		1		19		2,035		16		60		4		7		0		49		37		666
NE BLANCO UNIT #445A		5250	NEBU		31N08W25		1		17		693		5		21		2		2		0		16		12		1017
NE BLANCO UNIT #447A		5248	NEBU		31N08W36		1		18		911		7		27		2		3		0		22		16		1018
NE BLANCO UNIT #448A		5181	NEBU		31N07W32		1		13		243		2		7		1		1		0		5		4		1019
NE BLANCO UNIT #449A		5183	NEBU		31N07W19		1		17		648		5		19		2		2		0		15		11		1020
NE BLANCO UNIT #457A		5189	NEBU		31N07W30		1		12		770		6		23		2		3		0		18		15		1022
NE BLANCO UNIT #458A		5247	NEBU		31N07W13		1		13		2,074		16		62		4		7		0		51		42		1023
NE BLANCO UNIT #460A		1810	NEBU		31N06W07		1		12		2,399		19		71		5		8		0		59		50		753
NE BLANCO UNIT #462A		5246	NEBU		31N07W01		1		14		318		2		9		1		1		0		7		5		1025
NE BLANCO UNIT #463A		5170	NEBU		30N07W18		1		13		243		2		7		1		1		0		5		4		1213
NE BLANCO UNIT #464A		17898	NEBU		31N07W10		1		16		1,247		10		37		3		4		0		30		23		667
NE BLANCO UNIT #468A		5163	NEBU		31N07W35		1		17		1,300		10		39		3		4		0		31		23		772
NE BLANCO UNIT #478A		5212	NEBU		31N07W21		1		10		141		1		4		1		0		0		3		2		1218
NE BLANCO UNIT #480A		5209	NEBU		31N07W14		1		16		502		4		15		2		2		0		12		9		1029
NE BLANCO UNIT #482A		4895	NEBU		31N07W15		1		16		1,090		8		32		3		4		0		26		20		1002
NE BLANCO UNIT #483A		5149	NEBU		31N07W36		1		17		761		6		23		2		3		0		18		13		774

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 5 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
NE BLANCO UNIT #484A		4896	NEBU		31N07W16		1		9		215		2		6		1		1		0		5		4		1003
NE BLANCO UNIT #486A		1150	NEBU		31N06W19		1		7		715		6		21		2		2		0		17		15		717
NE BLANCO UNIT #490A		5198	NEBU		31N07W14		1		18		917		7		27		2		3		0		22		16		1216
NE BLANCO UNIT #491A		5147	NEBU		31N07W25		1		17		761		6		23		2		3		0		18		13		1212
NE BLANCO UNIT #495A		1068	NEBU		31N06W30		1		18		1,300		10		39		3		4		0		31		22		754
NE BLANCO UNIT #496A		1161	NEBU		31N06W18		1		14		1,377		11		41		3		5		0		33		27		720
NE BLANCO UNIT #497A		1110	NEBU		31N06W30		1		13		518		4		15		1		2		0		12		9		713
NE BLANCO UNIT #498A		5193	NEBU		31N07W13		1		16		512		4		15		2		2		0		12		9		1214
NE BLANCO UNIT #499A		1152	NEBU		31N06W20		1		18		2,329		18		69		5		8		0		57		43		731
NE BLANCO UNIT #500A		1157	NEBU		31N06W20		1		18		917		7		27		2		3		0		22		16		1209
NE BLANCO UNIT #504A		1163	NEBU		31N07W16		1		15		1,809		14		54		4		6		0		44		35		738
PAYNE #201S		4128	NON-UNIT		32N10W20		1		20		1,291		24		91		8		10		0		72		52		743
SAN JUAN 28-6 UNIT #418S		19353	SJ 28-6		28N06W28		1		9		97		6		24		6		3		0		15		12		639
SAN JUAN 29-6 UNIT #201A		5403	SJ 29-6		29N06W06		1		17		733		89		339		35		38		0		266		193		740
SAN JUAN 29-6 UNIT #202A		5404	SJ 29-6		29N06W06		1		1		2		0		1		0		0		0		0		0		739
SAN JUAN 29-6 UNIT #203A		5406	SJ 29-6		29N06W07		1		20		1,401		169		647		57		72		0		518		371		816
SAN JUAN 29-6 UNIT #204A		5405	SJ 29-6		29N06W07		1		16		598		72		276		31		31		0		215		157		745
SAN JUAN 29-6 UNIT #205A		6095	SJ 29-6		29N06W21		1		17		800		97		369		37		41		0		292		202		926
SAN JUAN 29-6 UNIT #207A		5555	SJ 29-6		29N06W02		1		19		1,212		147		560		51		62		0		446		320		817
SAN JUAN 29-6 UNIT #208A		5551	SJ 29-6		29N06W17		1		11		185		22		85		15		9		0		61		46		995
SAN JUAN 29-6 UNIT #209A		5552	SJ 29-6		29N06W17		1		20		1,233		149		569		52		63		0		454		326		994
SAN JUAN 29-6 UNIT #210A		6093	SJ 29-6		29N06W20		1		17		800		97		369		37		41		0		292		204		924
SAN JUAN 29-6 UNIT #214A		5407	SJ 29-6		29N06W03		1		19		1,085		131		501		47		56		0		398		286		818
SAN JUAN 29-6 UNIT #215A		5408	SJ 29-6		29N06W03		1		22		2,055		249		949		77		105		0		766		546		775
SAN JUAN 29-6 UNIT #216A		5410	SJ 29-6		29N06W04		1		19		1,178		143		544		50		60		0		434		311		742
SAN JUAN 29-6 UNIT #217A		5411	SJ 29-6		29N06W05		1		15		469		57		217		26		24		0		166		122		741
SAN JUAN 29-6 UNIT #218A		5412	SJ 29-6		29N06W05		1		14		379		46		175		23		19		0		133		98		905
SAN JUAN 29-6 UNIT #236A		5553	SJ 29-6		29N06W18		1		16		527		64		244		28		27		0		188		138		819
SAN JUAN 29-6 UNIT #237A		5110	SJ 29-6		29N06W01		1		15		429		52		198		25		22		0		151		111		757
SAN JUAN 29-6 UNIT #238A		5033	SJ 29-6		29N06W01		1		15		445		54		206		25		23		0		158		116		734
SAN JUAN 29-6 UNIT #239A		5616	SJ 29-6		29N06W02		1		16		518		63		239		28		27		0		185		135		903
SAN JUAN 29-6 UNIT #240A		6078	SJ 29-6		29N06W18		1		19		979		118		452		43		50		0		358		258		921
SAN JUAN 29-6 UNIT #241A		6091	SJ 29-6		29N06W19		1		17		800		97		369		37		41		0		292		204		922
SAN JUAN 29-6 UNIT #242A		5554	SJ 29-6		29N06W19		1		19		1,489		180		688		58		76		0		553		406		820
SAN JUAN 29-6 UNIT #245A		5413	SJ 29-6		29N06W08		1		15		447		54		206		25		23		0		158		116		776
SAN JUAN 29-6 UNIT #72A		6098	SJ 29-6		29N06W22		1		18		839		125		475		49		53		0		374		270		1241
SAN JUAN 29-7 UNIT #176		707	SJ 29-7		29N07W22		1		13		161		16		62		12		7		0		43		30		684
SAN JUAN 29-7 UNIT #187		832	SJ 29-7		29N07W03		1		8		82		8		31		7		3		0		21		16		696
SAN JUAN 29-7 UNIT #188		18165	SJ 29-7		29N07W06		1		14		194		20		75		14		8		0		52		37		748
SAN JUAN 29-7 UNIT #189		8020	SJ 29-7		29N07W14		1		17		364		239		912		126		101		0		685		479		694
SAN JUAN 29-7 UNIT #191		945	SJ 29-7		29N07W22		1		12		120		12		46		11		5		0		31		22		749
SAN JUAN 29-7 UNIT #550S		1259	SJ 29-7		29N07W11		1		15		600		63		239		25		27		0		188		136		751

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 6 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 29-7 UNIT #563S		1195	SJ 29-7		29N07W24		1		4		171		75		285		28		32		0		226		209		693
SAN JUAN 30-5 UNIT #201A		5722	SJ 30-5		30N05W19		1		19		1,600		282		1,076		89		120		0		867		602		969
SAN JUAN 30-5 UNIT #202A		1551	SJ 30-5		30N05W06		1		19		1,600		238		907		77		101		0		729		519		947
SAN JUAN 30-5 UNIT #203A		9785	SJ 30-5		30N05W06		1		17		1,892		323		1,231		96		137		0		998		768		644
SAN JUAN 30-5 UNIT #206A		5721	SJ 30-5		30N05W18		1		19		1,600		282		1,076		89		120		0		867		612		967
SAN JUAN 30-5 UNIT #207A		5034	SJ 30-5		30N05W18		1		16		507		86		330		39		37		0		255		186		756
SAN JUAN 30-5 UNIT #208A		5723	SJ 30-5		30N05W19		1		19		1,600		282		1,076		89		120		0		867		602		968
SAN JUAN 30-5 UNIT #209A		5781	SJ 30-5		30N05W30		1		19		1,600		282		1,076		89		120		0		867		602		984
SAN JUAN 30-5 UNIT #210A		5780	SJ 30-5		30N05W30		1		19		1,600		282		1,076		89		120		0		867		607		985
SAN JUAN 30-5 UNIT #212A		5782	SJ 30-5		30N05W31		1		19		1,600		282		1,076		89		120		0		867		602		987
SAN JUAN 30-5 UNIT #213A		17901	SJ 30-5		30N05W05		1		6		280		48		182		18		20		0		144		127		643
SAN JUAN 30-5 UNIT #214A		8013	SJ 30-5		30N05W05		1		13		898		153		584		52		65		0		468		370		642
SAN JUAN 30-5 UNIT #215A		5702	SJ 30-5		30N05W08		1		19		1,600		1,400		5,343		428		594		0		4,321		3,073		993
SAN JUAN 30-5 UNIT #216A		5731	SJ 30-5		30N05W20		1		19		1,600		282		1,076		89		120		0		867		602		971
SAN JUAN 30-5 UNIT #217A		5734	SJ 30-5		30N05W21		1		19		1,020		174		664		63		74		0		527		379		1239
SAN JUAN 30-5 UNIT #218A		5720	SJ 30-5		30N05W17		1		19		1,600		273		1,041		86		116		0		839		597		965
SAN JUAN 30-5 UNIT #219A		5108	SJ 30-5		30N05W16		1		13		441		75		287		32		32		0		222		173		730
SAN JUAN 30-5 UNIT #223A		5733	SJ 30-5		30N05W20		1		18		917		156		596		58		66		0		472		340		1238
SAN JUAN 30-5 UNIT #229A		5735	SJ 30-5		30N05W21		1		19		1,600		282		1,076		89		120		0		867		612		972
SAN JUAN 30-5 UNIT #230A		5112	SJ 30-5		30N05W32		1		0		0		0		0		0		0		0		0		0		737
SAN JUAN 30-5 UNIT #231A		5139	SJ 30-5		30N05W32		1		10		124		21		81		16		9		0		55		43		736
SAN JUAN 30-5 UNIT #234A		5737	SJ 30-5		30N05W22		1		19		1,600		273		1,041		86		116		0		839		597		975
SAN JUAN 30-5 UNIT #237A		5052	SJ 30-5		30N05W16		1		15		886		453		1,730		155		192		0		1,382		1,061		725
SAN JUAN 30-5 UNIT #240A		5738	SJ 30-5		30N05W22		1		19		1,600		282		1,076		89		120		0		867		602		974
SAN JUAN 30-5 UNIT #243A		5718	SJ 30-5		30N05W15		1		19		1,600		273		1,041		86		116		0		839		587		963
SAN JUAN 30-5 UNIT #260A		9786	SJ 30-5		30N05W09		1		15		1,880		320		1,223		93		136		0		994		790		646
SAN JUAN 30-5 UNIT #264A		5710	SJ 30-5		30N05W09		1		19		1,600		282		1,076		89		120		0		867		612		956
SAN JUAN 30-5 UNIT #265A		5711	SJ 30-5		30N05W10		1		19		1,600		273		1,041		86		116		0		839		597		957
SAN JUAN 30-5 UNIT #266A		8017	SJ 30-5		30N05W10		1		19		3,195		545		2,079		152		231		0		1,696		1,285		645
SAN JUAN 30-6 UNIT #136		5428	SJ 30-6		30N06W11		1		18		1,000		1,000		3,816		305		424		0		3,087		2,121		729
SAN JUAN 30-6 UNIT #404S		5516	SJ 30-6		30N07W23		1		17		800		40		152		15		17		0		120		85		778
SAN JUAN 30-6 UNIT #405S		5436	SJ 30-6		30N06W09		1		18		1,000		50		191		18		21		0		151		105		779
SAN JUAN 30-6 UNIT #408S		19395	SJ 30-6		30N06W16		1		19		999		50		190		18		21		0		151		108		685
SAN JUAN 30-6 UNIT #411S		1258	SJ 30-6		30N07W27		1		13		557		28		106		11		12		0		83		64		648
SAN JUAN 30-6 UNIT #412S		996	SJ 30-6		30N07W24		1		17		800		40		152		15		17		0		120		85		781
SAN JUAN 30-6 UNIT #413S		5508	SJ 30-6		30N07W23		1		16		649		32		124		13		14		0		97		71		782
SAN JUAN 30-6 UNIT #414S		1260	SJ 30-6		30N07W35		1		8		66		3		13		4		1		0		8		6		651
SAN JUAN 30-6 UNIT #415S		5077	SJ 30-6		30N07W26		1		17		800		40		152		15		17		0		120		85		761
SAN JUAN 30-6 UNIT #422S		1261	SJ 30-6		30N07W27		1		17		625		31		119		13		13		0		93		68		690
SAN JUAN 30-6 UNIT #425S		1322	SJ 30-6		30N07W33		1		15		1,029		51		196		17		22		0		157		121		652
SAN JUAN 30-6 UNIT #426S		1271	SJ 30-6		30N07W34		1		17		675		34		129		14		14		0		101		73		650
SAN JUAN 30-6 UNIT #427S		1203	SJ 30-6		30N07W35		1		5		36		2		7		2		1		0		4		3		687

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 7 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-6 UNIT #431S		5450	SJ 30-6		30N06W10		1		16		606		30		115		13		13		0		90		65		1221
SAN JUAN 30-6 UNIT #432S		5448	SJ 30-6		30N06W10		1		19		1,020		51		194		18		22		0		154		111		1220
SAN JUAN 30-6 UNIT #434S		5469	SJ 30-6		30N06W12		1		13		963		48		184		16		20		0		147		118		1222
SAN JUAN 30-6 UNIT #437S		5504	SJ 30-6		30N06W11		1		21		980		49		187		19		21		0		147		102		790
SAN JUAN 30-6 UNIT #438S		5468	SJ 30-6		30N06W12		1		18		1,000		50		191		18		21		0		151		105		791
SAN JUAN 30-6 UNIT #443S		1206	SJ 30-6		30N06W36		1		15		527		26		100		11		11		0		78		57		649
SAN JUAN 30-6 UNIT #444S		19402	SJ 30-6		30N06W36		1		14		610		30		116		12		13		0		91		71		647
SAN JUAN 30-6 UNIT #445S		5479	SJ 30-6		30N06W13		1		19		1,000		50		191		18		21		0		151		103		794
SAN JUAN 30-6 UNIT #446S		5502	SJ 30-6		30N06W35		1		18		1,000		50		191		18		21		0		151		105		795
SAN JUAN 30-6 UNIT #450S		5437	SJ 30-6		30N06W07		1		18		1,000		50		191		18		21		0		151		105		796
SAN JUAN 30-6 UNIT #451S		5430	SJ 30-6		30N06W07		1		18		772		39		147		15		16		0		116		84		763
SAN JUAN 30-6 UNIT #452S		5438	SJ 30-6		30N06W08		1		18		1,000		50		191		18		21		0		151		105		797
SAN JUAN 30-6 UNIT #457S		5257	SJ 30-6		30N06W19		1		19		1,000		50		191		18		21		0		151		103		764
SAN JUAN 30-6 UNIT #460S		5487	SJ 30-6		30N06W20		1		18		1,000		50		191		18		21		0		151		105		798
SAN JUAN 30-6 UNIT #461S		5503	SJ 30-6		30N07W11		1		19		784		39		149		16		17		0		117		83		799
SAN JUAN 30-6 UNIT #463S		5505	SJ 30-6		30N07W13		1		17		800		40		152		15		17		0		120		85		800
SAN JUAN 30-6 UNIT #468S		5117	SJ 30-6		30N07W36		1		16		515		26		98		11		11		0		76		55		759
SAN JUAN 30-6 UNIT #471S		5488	SJ 30-6		30N06W21		1		22		1,214		61		231		22		26		0		184		125		803
SAN JUAN 30-6 UNIT #475S		5493	SJ 30-6		30N06W27		1		18		1,000		50		191		18		21		0		151		105		804
SAN JUAN 30-6 UNIT #477S		5130	SJ 30-6		30N06W28		1		18		2,011		100		383		30		43		0		311		236		760
SAN JUAN 30-6 UNIT #478S		5137	SJ 30-6		30N06W29		1		19		1,135		57		216		20		24		0		172		124		746
SAN JUAN 30-6 UNIT #481S		5431	SJ 30-6		30N06W30		1		18		1,000		50		191		18		21		0		151		104		765
SAN JUAN 30-6 UNIT #483S		5500	SJ 30-6		30N06W34		1		18		835		42		159		16		18		0		125		91		806
SAN JUAN 30-6 UNIT #484S		5499	SJ 30-6		30N06W34		1		18		1,000		50		191		18		21		0		151		105		807
SAN JUAN 30-6 UNIT #485S		5116	SJ 30-6		30N07W36		1		22		808		40		154		17		17		0		120		79		996
SAN JUAN 30-6 UNIT #486S		5143	SJ 30-6		30N06W23		1		18		917		46		175		17		19		0		138		100		766
SAN JUAN 30-6 UNIT #488S		5490	SJ 30-6		30N06W24		1		16		606		30		115		13		13		0		90		65		808
SAN JUAN 30-6 UNIT #489S		5489	SJ 30-6		30N06W24		1		18		1,000		50		191		18		21		0		151		105		809
SAN JUAN 30-6 UNIT #490S		5492	SJ 30-6		30N06W25		1		21		980		49		187		19		21		0		147		102		810
SAN JUAN 30-6 UNIT #491S		5491	SJ 30-6		30N06W25		1		18		968		48		184		18		20		0		146		102		811
SAN JUAN 30-6 UNIT #493S		5131	SJ 30-6		30N06W32		1		17		715		36		136		14		15		0		107		78		744
SAN JUAN 30-6 UNIT #496S		5501	SJ 30-6		30N06W35		1		18		1,000		50		191		18		21		0		151		105		814
SAN JUAN 31-6 UNIT #201A		1813	SJ 31-6		30N06W01		1		19		1,084		116		443		42		49		0		351		253		706
SAN JUAN 31-6 UNIT #202A		1812	SJ 31-6		30N06W01		1		17		614		66		251		28		28		0		195		142		1211
SAN JUAN 31-6 UNIT #203A		1819	SJ 31-6		30N06W03		1		18		787		84		322		33		36		0		252		183		718
SAN JUAN 31-6 UNIT #204A		1817	SJ 31-6		30N06W03		1		14		706		76		288		29		32		0		228		175		707
SAN JUAN 31-6 UNIT #205A		1821	SJ 31-6		30N06W04		1		6		63		7		26		6		3		0		17		14		712
SAN JUAN 31-6 UNIT #206A		1820	SJ 31-6		30N06W04		1		10		217		23		89		13		10		0		66		52		708
SAN JUAN 31-6 UNIT #210A		1816	SJ 31-6		30N06W02		1		22		1,186		127		485		47		54		0		383		262		719
SAN JUAN 31-6 UNIT #211A		1815	SJ 31-6		30N06W02		1		16		1,366		146		558		48		62		0		449		342		710
SAN JUAN 31-6 UNIT #212A		5613	SJ 31-6		30N06W05		1		18		1,000		107		409		40		45		0		324		221		935
SAN JUAN 31-6 UNIT #213A		5612	SJ 31-6		30N06W05		1		18		1,000		107		409		40		45		0		324		225		936

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 8 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 31-6 UNIT #214A		1360	SJ 31-6		31N06W36		1		19		1,155		124		472		44		52		0		375		270		702
SAN JUAN 31-6 UNIT #215A		1361	SJ 31-6		31N06W36		1		12		832		89		340		30		38		0		272		223		653
SAN JUAN 31-6 UNIT #217A		1363	SJ 31-6		31N06W35		1		15		552		59		226		25		25		0		175		131		703
SAN JUAN 31-6 UNIT #223A		1377	SJ 31-6		31N06W32		1		16		384		41		157		22		17		0		118		85		654
SAN JUAN 31-6 UNIT #229A		1386	SJ 31-6		31N06W28		1		21		1,684		180		688		59		76		0		552		394		715
SAN JUAN 31-6 UNIT #230A		1383	SJ 31-6		31N06W27		1		20		1,398		150		571		51		64		0		457		327		705
SAN JUAN 31-6 UNIT #231A		1384	SJ 31-6		31N06W27		1		14		488		52		199		23		22		0		154		115		704
SAN JUAN 31-6 UNIT #234A		1385	SJ 31-6		31N06W29		1		13		531		57		217		24		24		0		169		131		688
SAN JUAN 32-7 UNIT #203A		5109	SJ 32-7		32N07W22		1		11		446		74		283		30		31		0		222		181		664
SAN JUAN 32-7 UNIT #204A		4126	SJ 32-7		32N07W36		1		19		1,700		283		1,081		91		120		0		870		617		1176
SAN JUAN 32-7 UNIT #206A		719	SJ 32-7		32N07W27		1		17		1,712		285		1,088		89		121		0		879		669		722
SAN JUAN 32-7 UNIT #207A		5812	SJ 32-7		32N07W27		1		19		1,700		283		1,081		91		120		0		870		617		1174
SAN JUAN 32-7 UNIT #208A		970	SJ 32-7		32N07W34		1		9		639		245		936		83		104		0		748		639		670
SAN JUAN 32-7 UNIT #209A		1207	SJ 32-7		32N07W35		1		15		949		158		604		56		67		0		481		369		672
SAN JUAN 32-7 UNIT #210A		4125	SJ 32-7		32N07W36		1		19		1,700		283		1,081		91		120		0		870		617		1177
SAN JUAN 32-7 UNIT #211A		648	SJ 32-7		32N07W35		1		16		1,329		221		845		72		94		0		679		518		721
SAN JUAN 32-7 UNIT #214A		5804	SJ 32-7		32N07W34		1		19		1,700		652		2,489		209		277		0		2,003		1,420		1178
SAN JUAN 32-7 UNIT #215A		1210	SJ 32-7		32N07W32		1		17		1,398		233		889		75		99		0		715		545		671
SAN JUAN 32-7 UNIT #216A		6120	SJ 32-7		31N07W04		1		14		703		117		447		45		50		0		353		272		1242
SAN JUAN 32-7 UNIT #217A		655	SJ 32-7		31N07W04		1		12		1,143		190		727		59		81		0		587		486		716
SAN JUAN 32-7 UNIT #218A		1208	SJ 32-7		31N07W07		1		13		910		152		579		51		64		0		463		372		662
SAN JUAN 32-7 UNIT #219A		6122	SJ 32-7		31N07W05		1		15		1,737		289		1,105		87		123		0		895		714		1243
SAN JUAN 32-7 UNIT #221A		694	SJ 32-7		31N07W08		1		9		155		26		99		17		11		0		71		57		711
SAN JUAN 32-7 UNIT #224A		4795	SJ 32-7		32N07W21		1		18		2,315		289		1,104		86		123		0		896		680		659
SAN JUAN 32-7 UNIT #229A		4893	SJ 32-7		31N07W09		1		15		800		133		509		49		57		0		403		310		714
SAN JUAN 32-7 UNIT #230A		5798	SJ 32-7		31N07W17		1		18		917		153		583		58		65		0		460		332		1171
SAN JUAN 32-7 UNIT #231A		1323	SJ 32-7		31N07W17		1		10		287		48		183		23		20		0		140		114		663
SAN JUAN 32-7 UNIT #232A		4127	SJ 32-7		31N07W08		1		13		1,107		184		704		59		78		0		566		456		709
SAN JUAN 32-7 UNIT #234A		1229	SJ 32-7		32N07W32		1		16		568		95		361		42		40		0		279		203		661
SAN JUAN 32-7 UNIT #238A		1211	SJ 32-7		32N07W29		1		16		2,629		438		1,672		124		186		0		1,362		1,083		674
SAN JUAN 32-7 UNIT #242A		1212	SJ 32-7		32N07W33		1		14		1,200		200		763		65		85		0		614		485		669
SAN JUAN 32-8 UNIT #202A		1495	SJ 32-8		32N08W27		1		18		1,993		227		868		69		96		0		703		534		698
SAN JUAN 32-8 UNIT #203A		1213	SJ 32-8		32N08W33		1		12		777		89		339		31		38		0		270		217		686
SAN JUAN 32-8 UNIT #204A		5142	SJ 32-8		32N08W34		1		16		2,527		288		1,101		82		122		0		897		713		732
SAN JUAN 32-8 UNIT #205A		1504	SJ 32-8		32N08W34		1		15		2,395		273		1,043		78		116		0		849		675		680
SAN JUAN 32-8 UNIT #208A		4275	SJ 32-8		32N08W29		1		13		1,967		224		857		64		95		0		697		575		726
SAN JUAN 32-8 UNIT #218A		1514	SJ 32-8		32N08W35		1		15		2,136		244		930		71		103		0		756		602		691
SAN JUAN 32-8 UNIT #219A		1529	SJ 32-8		32N08W35		1		17		1,653		189		720		59		80		0		581		442		678
SAN JUAN 32-8 UNIT #220A		5602	SJ 32-8		31N08W24		1		16		1,302		149		567		49		63		0		455		348		1232
SAN JUAN 32-8 UNIT #221A		5583	SJ 32-8		31N08W09		1		19		1,020		116		444		43		49		0		352		254		1140
SAN JUAN 32-8 UNIT #222A		5584	SJ 32-8		31N08W09		1		17		1,859		212		810		65		90		0		655		498		1139
SAN JUAN 32-8 UNIT #223A		5588	SJ 32-8		31N08W10		1		13		2,349		268		1,023		75		114		0		834		688		1142

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 9 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 32-8 UNIT #224A		5589	SJ 32-8		31N08W10		1		15		2,220		253		967		73		108		0		787		626		1141
SAN JUAN 32-8 UNIT #225A		5592	SJ 32-8		31N08W15		1		15		923		105		402		37		45		0		320		246		1227
SAN JUAN 32-8 UNIT #226A		5593	SJ 32-8		31N08W15		1		16		1,181		135		514		45		57		0		412		315		1228
SAN JUAN 32-8 UNIT #227A		5594	SJ 32-8		31N08W16		1		17		994		113		433		40		48		0		344		257		1148
SAN JUAN 32-8 UNIT #228A		5595	SJ 32-8		31N08W16		1		16		1,357		155		591		50		66		0		475		363		1147
SAN JUAN 32-8 UNIT #229A		1204	SJ 32-8		32N08W20		1		15		1,980		226		863		66		96		0		700		558		660
SAN JUAN 32-8 UNIT #230A		1544	SJ 32-8		32N08W28		1		8		844		96		368		30		41		0		297		258		697
SAN JUAN 32-8 UNIT #231A		1541	SJ 32-8		32N08W28		1		17		2,668		305		1,162		87		129		0		946		734		677
SAN JUAN 32-8 UNIT #232A		972	SJ 32-8		32N08W29		1		12		675		77		294		28		33		0		233		188		665
SAN JUAN 32-8 UNIT #233A		5675	SJ 32-8		32N08W30		1		19		1,020		116		444		43		49		0		352		254		1237
SAN JUAN 32-8 UNIT #234A		4904	SJ 32-8		31N08W21		1		16		1,030		118		449		41		50		0		358		270		1150
SAN JUAN 32-8 UNIT #235A		5597	SJ 32-8		31N08W21		1		15		806		92		351		34		39		0		278		214		1149
SAN JUAN 32-8 UNIT #236A		5599	SJ 32-8		31N08W22		1		17		761		87		332		35		37		0		260		188		1229
SAN JUAN 32-8 UNIT #237A		5601	SJ 32-8		31N08W23		1		19		1,010		115		440		43		49		0		348		251		1231
SAN JUAN 32-8 UNIT #238A		5600	SJ 32-8		31N08W23		1		22		2,083		238		907		75		101		0		732		521		1230
SAN JUAN 32-8 UNIT #239A		5670	SJ 32-8		32N08W30		1		20		2,000		228		871		71		97		0		703		494		1161
SAN JUAN 32-8 UNIT #240A		5047	SJ 32-8		31N08W03		1		14		1,608		184		700		56		78		0		567		452		997
SAN JUAN 32-8 UNIT #241A		5558	SJ 32-8		31N08W04		1		13		1,807		206		787		60		87		0		640		528		1224
SAN JUAN 32-8 UNIT #242A		5557	SJ 32-8		31N08W04		1		17		735		84		320		34		36		0		251		182		1138
SAN JUAN 32-8 UNIT #243A		1884	SJ 32-8		31N08W11		1		14		644		74		281		29		31		0		221		170		679
SAN JUAN 32-8 UNIT #244A		5591	SJ 32-8		31N08W14		1		16		1,235		141		538		47		60		0		432		330		1226
SAN JUAN 32-8 UNIT #245A		5590	SJ 32-8		31N08W14		1		14		1,401		160		610		50		68		0		493		394		1225
SAN JUAN 32-8 UNIT #247A		5999	SJ 32-8		32N08W19		1		21		2,000		228		870		71		97		0		702		481		1199
SAN JUAN 32-8 UNIT #248A		1885	SJ 32-8		31N08W11		1		11		429		49		187		20		21		0		146		118		676
SAN JUAN 32-8 UNIT #249A		1886	SJ 32-8		31N08W03		1		12		465		53		202		23		23		0		157		123		675
SAN JUAN 32-8 UNIT #250A		5048	SJ 32-8		32N08W33		1		14		2,720		311		1,185		86		132		0		968		797		723
SAN JUAN 32-8 UNIT #253A		1887	SJ 32-8		32N08W27		1		20		2,225		254		969		77		108		0		784		575		699
SAN JUAN 32-8 UNIT #255A		1867	SJ 32-8		32N08W24		1		17		1,420		162		618		52		69		0		497		380		701
SAN JUAN 32-8 UNIT #256A		1888	SJ 32-8		32N08W25		1		15		1,689		193		736		58		82		0		596		473		700
SAN JUAN 32-8 UNIT #257A		6000	SJ 32-8		32N08W19		1		20		2,000		228		871		71		97		0		703		494		1200
SAN JUAN 32-9 UNIT #201S		5935	SJ 32-9		31N09W02		1		17		800		16		61		6		7		0		49		34		1076
SAN JUAN 32-9 UNIT #202S		5939	SJ 32-9		31N09W02		1		17		800		16		61		6		7		0		49		34		1075
SAN JUAN 32-9 UNIT #228S		5978	SJ 32-9		32N09W36		1		17		1,300		26		100		9		11		0		80		58		1127
SAN JUAN 32-9 UNIT #235S		5979	SJ 32-9		32N09W36		1		18		1,300		26		100		9		11		0		80		56		1126
SAN JUAN 32-9 UNIT #250S		5945	SJ 32-9		31N09W04		1		12		1,418		31		119		9		13		0		97		80		1240
SAN JUAN 32-9 UNIT #271S		1351	SJ 32-9		32N09W18		1		17		1,413		31		119		10		13		0		96		73		733
SAN JUAN 32-9 UNIT #277S		5966	SJ 32-9		32N09W30		1		17		1,300		26		100		9		11		0		80		58		1115
SAN JUAN 32-9 UNIT #282S		5975	SJ 32-9		32N09W33		1		17		1,300		26		100		9		11		0		80		58		1121
SAN JUAN 32-9 UNIT #283S		5976	SJ 32-9		32N09W33		1		17		1,300		26		100		9		11		0		80		58		1120
SAN JUAN 32-9 UNIT #284S		1357	SJ 32-9		32N10W13		1		10		1,354		30		114		9		13		0		93		79		998
SAN JUAN 32-9 UNIT #291S		5402	SJ 32-9		32N10W24		1		12		1,158		26		98		8		11		0		79		65		728
SAN JUAN 32-9 UNIT #301S		5857	SJ 32-9		32N10W12		1		20		1,800		36		138		11		15		0		112		79		1095

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 10 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
STATE COM FC #20A		6006	NON-UNIT		30N08W02		1		19		952		17		65		6		7		0		51		36		1069
TOTAL PROVED DEVELOPED: 160-Acre New Mexico							249				263,367		28,498		108,756		9,533		12,089		0		87,134		64,560
BARNES GAS COM F #1		14369	NON-UNIT		32N11W26		1		14		94		5		20		7		2		0		11		7		474
BLANCO #201		13592	NON-UNIT		31N08W35		1		23		1,262		186		711		69		79		0		563		384		413
BLANCO #202		13651	NON-UNIT		31N08W26		1		25		2,075		306		1,169		101		130		0		938		633		509
BLANCO #203		13649	NON-UNIT		31N08W35		1		14		633		93		357		37		40		0		280		215		498
BLANCO #204R		14451	NON-UNIT		31N08W26		1		17		836		123		471		48		52		0		370		270		591
BLANCO #330		14219	NON-UNIT		31N08W05		1		22		2,793		204		779		61		87		0		631		459		547
BONDS COM #100 (APO)		14220	NON-UNIT		32N10W15		1		22		4,218		210		801		57		89		0		655		484		455
DECKER GAS COM A #1		14370	NON-UNIT		32N10W17		1		25		3,144		230		877		68		97		0		711		496		477
EAGLE #750 (BPO)		14375	NON-UNIT		32N09W16		1		24		1,413		0		0		0		0		0		0		0		495
FC BARNES #1		14371	NON-UNIT		32N11W15		1		33		645		11		43		9		5		0		29		15		418
FC FEE COM #2		14277	NON-UNIT		32N11W30		1		9		57		1		4		2		0		0		2		1		497
FC STATE COM #19		14276	NON-UNIT		30N09W36		1		22		202		4		15		4		2		0		10		5		541
FC STATE COM #20		12651	NON-UNIT		30N08W02		1		25		2,790		50		190		15		21		0		154		106		466
FEDERAL G #4 COM.PI		4755	NON-UNIT		31N07W10		1		22		1,187		49		189		18		21		0		149		103		467
GRASSY CANYON UNIT #3		4762	SJ 32-7		32N07W31		1		29		3,024		195		745		60		83		0		602		394		580
HEIZER #100		14203	NON-UNIT		32N10W15		1		20		3,335		2		6		0		1		0		5		4		378
HUBBARD GAS COM A #1		14250	NON-UNIT		32N11W30		1		17		147		5		19		7		2		0		10		6		496
HUERFANO UNIT #12		14215	HUERFANO		26N10W04		1		1		6		1		3		2		0		0		2		1		352
HUERFANO UNIT #138		17003	HUERFANO		26N09W22		1		12		108		15		58		15		6		0		37		26		350
HUERFANO UNIT #14R		14218	HUERFANO		26N10W05		1		23		332		47		179		33		20		0		127		76		362
HUERFANO UNIT #18 COM		16974	HUERFANO		27N10W32		1		2		11		2		6		2		1		0		3		3		355
HUERFANO UNIT #182		17019	HUERFANO		26N09W28		1		0		1		0		0		0		0		0		0		0		360
HUERFANO UNIT #19		14221	HUERFANO		26N10W05		1		6		47		7		26		7		3		0		16		13		354
HUERFANO UNIT #22		14216	HUERFANO		27N10W33		1		30		482		68		260		44		29		0		187		101		356
HUERFANO UNIT #223		14004	HUERFANO		26N10W04		1		20		312		44		168		29		19		0		121		77		363
HUERFANO UNIT #231		17004	HUERFANO		26N09W06		1		24		501		71		270		39		30		0		201		123		364
HUERFANO UNIT #237		17005	HUERFANO		26N09W17		1		33		646		91		348		53		39		0		257		134		365
HUERFANO UNIT #24		14222	HUERFANO		27N10W29		1		11		171		24		92		16		10		0		65		49		357
HUERFANO UNIT #255		17006	HUERFANO		27N09W31		1		40		1,236		175		667		79		74		0		514		256		369
HUERFANO UNIT #257		17007	HUERFANO		27N10W36		1		40		1,021		144		550		71		61		0		418		207		367
HUERFANO UNIT #282		14512	HUERFANO		27N10W31		1		19		403		57		218		31		24		0		163		109		372
HUERFANO UNIT #286		14202	HUERFANO		27N10W35		1		40		986		139		532		70		59		0		402		190		374
HUERFANO UNIT #46		13951	HUERFANO		26N09W23		1		24		542		77		292		40		32		0		219		135		349
HUERFANO UNIT #501		17009	HUERFANO		26N09W20		1		27		621		88		335		46		37		0		252		148		599
HUERFANO UNIT #502		17010	HUERFANO		26N09W21		1		0		0		0		0		0		0		0		0		0		602
HUERFANO UNIT #503		13987	HUERFANO		26N09W21		1		7		86		12		46		10		5		0		31		26		601
HUERFANO UNIT #504		17011	HUERFANO		26N09W22		1		7		80		11		43		9		5		0		29		24		608
HUERFANO UNIT #505		17012	HUERFANO		26N09W30		1		40		943		133		508		69		57		0		383		182		600
HUERFANO UNIT #507		17013	HUERFANO		26N09W27		1		23		446		63		241		37		27		0		177		108		604
HUERFANO UNIT #508		13985	HUERFANO		26N09W26		1		40		1,087		154		586		74		65		0		448		216		605

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 11 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
HUERFANO UNIT #509		13999	HUERFANO		27N10W30		1		19		289		41		156		28		17		0		111		71		607
HUERFANO UNIT #518		17014	HUERFANO		26N09W16		1		31		517		73		279		46		31		0		202		107		609
HUERFANO UNIT #520		17015	HUERFANO		26N09W17		1		25		412		58		222		37		25		0		160		94		610
HUERFANO UNIT #521		17016	HUERFANO		27N10W35		1		40		1,365		193		736		83		82		0		571		274		612
HUERFANO UNIT #522		17017	HUERFANO		27N09W31		1		38		1,186		168		640		75		71		0		494		258		611
HUERFANO UNIT #523		14008	HUERFANO		26N09W23		1		24		495		70		267		39		30		0		199		122		613
HUERFANO UNIT #528		12464	HUERFANO		26N10W06		1		27		401		57		216		38		24		0		154		86		620
HUERFANO UNIT #549		13950	HUERFANO		27N10W33		1		16		242		34		131		23		15		0		93		63		598
HUERFANO UNIT #55		14223	HUERFANO		26N09W27		1		20		314		44		169		30		19		0		121		76		347
HUERFANO UNIT #550		17018	HUERFANO		27N10W29		1		25		301		42		162		34		18		0		110		61		606
HUERFANO UNIT #59		13952	HUERFANO		26N09W26		1		9		73		10		39		11		4		0		24		18		348
HUERFANO UNIT #6		14377	HUERFANO		27N10W31		1		25		486		69		262		40		29		0		193		114		359
HUERFANO UNIT #600		706	HUERFANO		27N10W32		1		8		106		15		57		11		6		0		40		32		673
HUERFANO UNIT #70		14224	HUERFANO		26N10W08		1		9		85		12		46		11		5		0		30		23		351
HUERFANO UNIT #74		13988	HUERFANO		27N10W19		1		4		23		3		12		5		1		0		6		5		358
HUERFANO UNIT COM #118		4765	HUERFANO		27N10W30		1		10		137		10		37		7		4		0		26		20		366
HUERFANO UNIT COM #551		4766	HUERFANO		26N09W16		1		10		144		8		29		5		3		0		21		16		626
JACQUEZ #331		14343	NON-UNIT		31N08W06		1		32		3,872		296		1,128		83		125		0		920		588		530
KEYS GAS COM G #1R		14212	NON-UNIT		32N10W27		1		20		1,138		2		6		1		1		0		5		4		375
MOORE, WAYNE COM #2		14442	NON-UNIT		31N09W16		1		23		1,097		41		155		16		17		0		122		82		578
NE BLANCO UNIT #400R		14350	NEBU		31N06W07		1		26		3,453		27		103		7		11		0		84		58		550
NE BLANCO UNIT #401		14278	NEBU		30N07W09		1		13		471		4		14		1		2		0		11		8		34
NE BLANCO UNIT #402		13561	NEBU		30N07W05		1		26		2,602		20		77		6		9		0		63		43		376
NE BLANCO UNIT #403R		14279	NEBU		30N07W09		1		29		2,585		20		77		6		9		0		63		40		189
NE BLANCO UNIT #404R		14280	NEBU		31N07W34		1		7		332		3		10		1		1		0		8		7		561
NE BLANCO UNIT #406		13560	NEBU		31N07W22		1		25		2,275		18		68		5		8		0		55		38		377
NE BLANCO UNIT #407		14281	NEBU		30N07W21		1		21		1,315		10		39		3		4		0		32		22		36
NE BLANCO UNIT #408		13562	NEBU		31N07W20		1		15		817		6		24		2		3		0		19		15		406
NE BLANCO UNIT #409		14282	NEBU		30N07W10		1		19		1,328		10		39		3		4		0		32		23		35
NE BLANCO UNIT #410		14283	NEBU		31N07W09		1		19		2,126		17		63		4		7		0		52		38		421
NE BLANCO UNIT #411		14284	NEBU		30N07W10		1		27		1,852		14		55		4		6		0		44		29		78
NE BLANCO UNIT #412		14285	NEBU		31N07W29		1		24		2,662		21		79		6		9		0		65		45		408
NE BLANCO UNIT #413R		14286	NEBU		30N07W20		1		16		817		6		24		2		3		0		19		15		257
NE BLANCO UNIT #414		13569	NEBU		31N07W30		1		22		2,041		16		61		4		7		0		49		35		403
NE BLANCO UNIT #415		14287	NEBU		30N07W02		1		24		1,373		11		41		3		5		0		33		22		71
NE BLANCO UNIT #416		13563	NEBU		31N07W21		1		23		973		8		29		3		3		0		23		15		395
NE BLANCO UNIT #417		14288	NEBU		30N07W02		1		32		3,345		26		99		7		11		0		81		51		72
NE BLANCO UNIT #418		14289	NEBU		31N07W28		1		11		776		6		23		2		3		0		19		15		410
NE BLANCO UNIT #419		14290	NEBU		30N07W03		1		20		1,811		14		54		4		6		0		44		32		77
NE BLANCO UNIT #420		13564	NEBU		31N07W28		1		6		42		0		1		0		0		0		1		1		394
NE BLANCO UNIT #421R		14291	NEBU		30N07W04		1		17		1,534		12		46		3		5		0		37		28		151
NE BLANCO UNIT #422		13570	NEBU		31N07W20		1		20		1,168		9		35		3		4		0		28		20		397

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 12 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
NE BLANCO UNIT #423R		14292	NEBU		30N07W08		1		22		2,367		18		70		5		8		0		57		41		286
NE BLANCO UNIT #424		14293	NEBU		30N07W04		1		25		2,934		23		87		6		10		0		71		49		385
NE BLANCO UNIT #425R		14294	NEBU		30N07W08		1		28		3,180		25		94		7		10		0		77		51		169
NE BLANCO UNIT #426		14262	NEBU		31N06W06		1		26		2,551		20		76		6		8		0		62		42		440
NE BLANCO UNIT #427R		14295	NEBU		30N07W16		1		14		784		6		23		2		3		0		19		15		194
NE BLANCO UNIT #428		13571	NEBU		31N07W24		1		21		2,089		16		62		4		7		0		51		36		420
NE BLANCO UNIT #429R		14296	NEBU		30N07W17		1		4		66		1		2		0		0		0		1		1		226
NE BLANCO UNIT #430		13565	NEBU		30N07W05		1		17		929		7		28		2		3		0		22		16		398
NE BLANCO UNIT #431		14297	NEBU		30N07W17		1		32		2,638		21		78		6		9		0		64		39		74
NE BLANCO UNIT #432		13566	NEBU		30N07W07		1		14		302		2		9		1		1		0		7		5		399
NE BLANCO UNIT #433		14298	NEBU		30N07W19		1		13		225		2		7		1		1		0		5		4		76
NE BLANCO UNIT #434		14299	NEBU		31N07W23		1		20		2,666		21		79		5		9		0		65		48		423
NE BLANCO UNIT #435		14300	NEBU		30N08W01		1		24		1,267		10		38		3		4		0		30		20		383
NE BLANCO UNIT #436		13572	NEBU		31N06W19		1		14		793		6		24		2		3		0		19		15		425
NE BLANCO UNIT #437		14301	NEBU		30N08W12		1		27		1,303		10		39		3		4		0		31		20		382
NE BLANCO UNIT #438		14361	NEBU		31N06W18		1		26		1,267		10		38		3		4		0		30		19		452
NE BLANCO UNIT #439		14302	NEBU		30N08W13		1		27		2,881		22		86		6		10		0		70		47		380
NE BLANCO UNIT #440		13573	NEBU		31N07W11		1		23		1,829		14		54		4		6		0		44		31		431
NE BLANCO UNIT #441R		14303	NEBU		30N08W24		1		22		1,092		8		32		3		4		0		26		18		475
NE BLANCO UNIT #442		14304	NEBU		31N07W11		1		24		1,989		15		59		4		7		0		48		33		436
NE BLANCO UNIT #443		14305	NEBU		30N08W24		1		22		1,079		8		32		3		4		0		26		17		381
NE BLANCO UNIT #444		14362	NEBU		31N07W23		1		22		2,724		21		81		6		9		0		66		48		461
NE BLANCO UNIT #445		14306	NEBU		31N08W25		1		27		2,092		16		62		5		7		0		50		33		388
NE BLANCO UNIT #446		14307	NEBU		31N07W33		1		14		511		4		15		2		2		0		12		9		400
NE BLANCO UNIT #447		14308	NEBU		31N08W36		1		17		694		5		21		2		2		0		16		12		379
NE BLANCO UNIT #448		13567	NEBU		31N07W32		1		18		1,054		8		31		3		3		0		25		18		384
NE BLANCO UNIT #449		14309	NEBU		31N07W19		1		24		1,242		10		37		3		4		0		30		20		391
NE BLANCO UNIT #450		14310	NEBU		31N07W32		1		18		930		7		28		2		3		0		22		16		389
NE BLANCO UNIT #451		14311	NEBU		30N07W06		1		26		1,817		14		54		4		6		0		44		29		405
NE BLANCO UNIT #452		13574	NEBU		31N07W15		1		2		21		0		1		0		0		0		0		0		422
NE BLANCO UNIT #453		14312	NEBU		30N07W06		1		25		1,880		15		56		4		6		0		45		30		390
NE BLANCO UNIT #454		14313	NEBU		31N07W33		1		18		1,166		9		35		3		4		0		28		21		409
NE BLANCO UNIT #455		14314	NEBU		31N07W31		1		25		3,342		26		99		7		11		0		81		57		387
NE BLANCO UNIT #456		13575	NEBU		31N07W26		1		15		793		6		24		2		3		0		19		14		417
NE BLANCO UNIT #457		14315	NEBU		31N07W31		1		20		1,308		10		39		3		4		0		31		22		392
NE BLANCO UNIT #458		13576	NEBU		31N07W13		1		27		1,861		14		55		4		6		0		45		29		416
NE BLANCO UNIT #459		14316	NEBU		31N07W19		1		29		3,664		29		109		7		12		0		89		59		415
NE BLANCO UNIT #460		14351	NEBU		31N06W07		1		27		3,157		25		94		7		10		0		77		52		424
NE BLANCO UNIT #461		14317	NEBU		30N07W07		1		23		1,282		10		38		3		4		0		31		21		543
NE BLANCO UNIT #462		14318	NEBU		31N07W01		1		26		3,338		26		99		7		11		0		81		56		428
NE BLANCO UNIT #463		14319	NEBU		30N07W18		1		23		1,091		8		32		3		4		0		26		17		411
NE BLANCO UNIT #464		13577	NEBU		31N07W10		1		18		1,040		8		31		3		3		0		25		18		429

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 13 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
NE BLANCO UNIT #465		14320	NEBU		30N08W01		1		21		1,938		15		58		4		6		0		47		34		404
NE BLANCO UNIT #466		14321	NEBU		31N07W34		1		21		2,040		16		61		4		7		0		49		35		462
NE BLANCO UNIT #467		14322	NEBU		30N08W12		1		14		414		3		12		1		1		0		10		7		407
NE BLANCO UNIT #468		14323	NEBU		31N07W35		1		23		2,209		17		66		5		7		0		53		37		457
NE BLANCO UNIT #469		14324	NEBU		30N08W13		1		28		3,489		27		104		7		12		0		85		57		393
NE BLANCO UNIT #470		14352	NEBU		31N07W27		1		21		969		8		29		3		3		0		23		16		438
NE BLANCO UNIT #471		14325	NEBU		31N08W25		1		26		2,976		23		88		6		10		0		72		50		402
NE BLANCO UNIT #472		14326	NEBU		31N07W29		1		13		502		4		15		1		2		0		12		9		401
NE BLANCO UNIT #473		14327	NEBU		31N08W36		1		12		715		6		21		2		2		0		17		14		396
NE BLANCO UNIT #474		14353	NEBU		31N07W26		1		14		644		5		19		2		2		0		15		12		437
NE BLANCO UNIT #475		14328	NEBU		30N07W19		1		25		1,097		9		33		3		4		0		26		17		298
NE BLANCO UNIT #476		14329	NEBU		31N07W22		1		24		2,275		18		68		5		8		0		55		38		435
NE BLANCO UNIT #477		14379	NEBU		30N07W29		1		8		137		1		4		1		0		0		3		2		93
NE BLANCO UNIT #478		14330	NEBU		31N07W21		1		23		1,828		14		54		4		6		0		44		31		386
NE BLANCO UNIT #479R		13942	NEBU		30N07W20		1		22		1,255		10		37		3		4		0		30		20		334
NE BLANCO UNIT #480		14332	NEBU		31N07W14		1		25		2,154		17		64		5		7		0		52		35		463
NE BLANCO UNIT #481		14333	NEBU		31N07W36		1		19		1,117		9		33		3		4		0		27		19		86
NE BLANCO UNIT #482		14334	NEBU		31N07W15		1		24		2,714		21		81		6		9		0		66		46		439
NE BLANCO UNIT #483		14335	NEBU		31N07W36		1		7		195		2		6		1		1		0		4		4		85
NE BLANCO UNIT #484		14336	NEBU		31N07W16		1		7		65		1		2		0		0		0		1		1		430
NE BLANCO UNIT #485		14337	NEBU		30N07W03		1		15		724		6		22		2		2		0		17		13		131
NE BLANCO UNIT #486		14338	NEBU		31N06W19		1		22		2,852		22		85		6		9		0		69		50		472
NE BLANCO UNIT #487		14339	NEBU		31N07W35		1		33		3,890		30		115		8		13		0		95		59		464
NE BLANCO UNIT #488		14340	NEBU		31N07W24		1		20		2,888		22		86		6		10		0		70		52		458
NE BLANCO UNIT #489		14364	NEBU		31N07W12		1		10		244		2		7		1		1		0		6		5		456
NE BLANCO UNIT #490		14363	NEBU		31N07W14		1		20		1,817		14		54		4		6		0		44		32		434
NE BLANCO UNIT #491		14368	NEBU		31N07W25		1		9		309		2		9		1		1		0		7		6		152
NE BLANCO UNIT #492		14354	NEBU		31N07W12		1		24		2,222		17		66		5		7		0		54		37		453
NE BLANCO UNIT #493		14380	NEBU		31N07W25		1		26		1,735		14		52		4		6		0		42		27		143
NE BLANCO UNIT #494		14341	NEBU		31N07W27		1		17		815		6		24		2		3		0		19		14		465
NE BLANCO UNIT #495		14381	NEBU		31N06W30		1		21		1,378		11		41		3		5		0		33		23		144
NE BLANCO UNIT #496		14355	NEBU		31N06W18		1		19		1,995		16		59		4		7		0		48		36		459
NE BLANCO UNIT #497		14382	NEBU		31N06W30		1		21		1,565		12		46		4		5		0		38		27		146
NE BLANCO UNIT #498		14365	NEBU		31N07W13		1		16		1,339		10		40		3		4		0		32		25		460
NE BLANCO UNIT #499		14383	NEBU		31N06W20		1		27		1,954		15		58		5		6		0		47		31		179
NE BLANCO UNIT #500		14356	NEBU		31N06W20		1		22		1,421		11		42		3		5		0		34		24		454
NE BLANCO UNIT #504		14342	NEBU		31N07W16		1		23		1,829		14		54		4		6		0		44		31		513
NE BLANCO UNIT #505		14384	NEBU		30N07W21		1		24		1,483		12		44		4		5		0		36		24		319
NORDHAUS #716		14360	NON-UNIT		31N09W13		1		27		2,481		180		689		58		77		0		554		368		549
PAYNE #201		14225	NON-UNIT		32N10W20		1		20		1,387		25		97		9		11		0		78		55		546
QUINN #336		14226	NON-UNIT		31N08W17		1		12		858		63		240		22		27		0		192		155		451
SAN JUAN 28-5 UNIT #219		13793	SJ 28-5		28N05W30		1		23		198		82		311		87		35		0		190		103		245

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 14 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 28-5 UNIT #223		13740	SJ 28-5		28N05W34		1		9		43		19		71		30		8		0		34		25		246
SAN JUAN 28-6 UNIT #400		13883	SJ 28-6		28N06W09		1		26		270		17		66		15		7		0		43		23		98
SAN JUAN 28-6 UNIT #404		14227	SJ 28-6		28N06W13		1		14		83		35		132		50		15		0		68		43		124
SAN JUAN 28-6 UNIT #405		13884	SJ 28-6		28N06W18		1		24		334		21		82		15		9		0		57		33		153
SAN JUAN 28-6 UNIT #406		13885	SJ 28-6		28N06W19		1		27		341		22		83		17		9		0		57		31		112
SAN JUAN 28-6 UNIT #410		14228	SJ 28-6		28N06W13		1		3		12		5		20		9		2		0		10		9		214
SAN JUAN 28-6 UNIT #414		13886	SJ 28-6		28N06W08		1		22		251		16		61		14		7		0		41		24		260
SAN JUAN 28-6 UNIT #418		13757	SJ 28-6		28N06W28		1		10		89		6		22		6		2		0		13		10		297
SAN JUAN 28-6 UNIT #421		13758	SJ 28-6		28N06W33		1		17		257		16		63		11		7		0		44		29		247
SAN JUAN 28-6 UNIT #433		14387	SJ 28-6		28N06W24		1		14		144		0		0		0		0		0		0		0		288
SAN JUAN 28-6 UNIT #436		14347	SJ 28-6		28N06W16		1		28		348		22		85		17		9		0		58		31		277
SAN JUAN 28-6 UNIT #437		14456	SJ 28-6		28N06W28		1		21		235		15		57		13		6		0		38		22		309
SAN JUAN 28-6 UNIT #438		14348	SJ 28-6		28N06W15		1		18		157		24		91		24		10		0		57		35		293
SAN JUAN 28-6 UNIT #439		14388	SJ 28-6		28N06W29		1		19		213		66		252		56		28		0		167		106		248
SAN JUAN 28-6 UNIT #440		13759	SJ 28-6		28N06W16		1		4		29		2		7		2		1		0		4		3		276
SAN JUAN 28-6 UNIT #441		14389	SJ 28-6		28N06W17		1		32		438		28		107		21		12		0		74		38		296
SAN JUAN 28-6 UNIT #448		13760	SJ 28-6		28N06W15		1		3		12		2		7		3		1		0		3		3		228
SAN JUAN 28-6 UNIT #449		13761	SJ 28-6		27N06W02		1		12		91		9		36		11		4		0		21		14		218
SAN JUAN 28-6 UNIT #455		13719	SJ 28-6		28N06W17		1		20		173		26		100		27		11		0		62		36		278
SAN JUAN 28-6 UNIT #456		14229	SJ 28-6		28N06W19		1		10		106		16		62		14		7		0		41		31		243
SAN JUAN 28-6 UNIT #457		13720	SJ 28-6		28N06W20		1		20		139		21		81		26		9		0		46		26		279
SAN JUAN 28-6 UNIT #458		14263	SJ 28-6		28N06W20		1		25		415		26		101		17		11		0		73		43		231
SAN JUAN 28-6 UNIT #459		13733	SJ 28-6		28N06W21		1		40		1,199		77		292		36		32		0		224		101		280
SAN JUAN 28-6 UNIT #460		13721	SJ 28-6		28N06W21		1		24		305		19		74		15		8		0		51		29		294
SAN JUAN 28-6 UNIT #461		13762	SJ 28-6		28N06W22		1		34		404		61		235		49		26		0		159		76		266
SAN JUAN 28-6 UNIT #462		13732	SJ 28-6		28N06W22		1		23		256		39		149		33		17		0		99		57		295
SAN JUAN 28-6 UNIT #467		13724	SJ 28-6		28N06W34		1		35		737		47		180		26		20		0		133		69		282
SAN JUAN 28-6 UNIT #474		13723	SJ 28-6		28N06W27		1		31		347		22		85		19		9		0		56		28		281
SAN JUAN 28-6 UNIT #475		13887	SJ 28-6		28N06W29		1		29		476		30		116		20		13		0		84		46		289
SAN JUAN 29-5 UNIT #201		14367	SJ 29-5		29N05W27		1		15		93		0		0		0		0		0		0		0		267
SAN JUAN 29-5 UNIT #203		13547	SJ 29-5		29N05W06		1		16		977		126		481		45		54		0		383		287		122
SAN JUAN 29-5 UNIT #213		13597	SJ 29-5		29N05W22		1		40		920		119		453		64		50		0		339		165		136
SAN JUAN 29-5 UNIT #217		13763	SJ 29-5		29N05W34		1		10		69		0		0		0		0		0		0		0		268
SAN JUAN 29-5 UNIT #219		14398	SJ 29-5		29N05W04		1		23		567		73		279		38		31		0		211		134		304
SAN JUAN 29-5 UNIT #223		13653	SJ 29-5		29N05W33		1		4		26		3		13		5		1		0		7		6		241
SAN JUAN 29-5 UNIT #225		14391	SJ 29-5		29N05W06		1		13		263		34		129		20		14		0		95		70		305
SAN JUAN 29-5 UNIT #226		14392	SJ 29-5		29N05W07		1		26		730		94		360		45		40		0		275		169		302
SAN JUAN 29-5 UNIT #230		14405	SJ 29-5		29N05W05		1		27		1,140		147		562		59		62		0		440		276		326
SAN JUAN 29-5 UNIT #231		14393	SJ 29-5		29N05W05		1		0		0		0		0		0		0		0		0		0		301
SAN JUAN 29-6 UNIT #201		13589	SJ 29-6		29N06W06		1		20		1,653		200		763		64		85		0		615		449		132
SAN JUAN 29-6 UNIT #202		13654	SJ 29-6		29N06W06		1		19		950		115		439		43		49		0		347		250		235
SAN JUAN 29-6 UNIT #203		13684	SJ 29-6		29N06W07		1		16		1,133		137		523		46		58		0		419		317		180

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 15 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 29-6 UNIT #204		13655	SJ 29-6		29N06W07		1		6		99		12		46		8		5		0		33		28		207
SAN JUAN 29-6 UNIT #205		13685	SJ 29-6		29N06W21		1		20		1,408		170		650		57		72		0		521		373		250
SAN JUAN 29-6 UNIT #206		13548	SJ 29-6		29N06W04		1		23		972		118		449		47		50		0		352		233		117
SAN JUAN 29-6 UNIT #207		13549	SJ 29-6		29N06W02		1		26		2,026		245		935		80		104		0		752		500		115
SAN JUAN 29-6 UNIT #208		13587	SJ 29-6		29N06W17		1		21		1,857		225		857		71		95		0		691		495		133
SAN JUAN 29-6 UNIT #209		13588	SJ 29-6		29N06W17		1		37		2,256		273		1,041		95		116		0		830		473		126
SAN JUAN 29-6 UNIT #210		14394	SJ 29-6		29N06W20		1		23		2,483		300		1,146		90		127		0		929		660		182
SAN JUAN 29-6 UNIT #211		14395	SJ 29-6		29N06W20		1		25		1,307		158		604		58		67		0		478		312		174
SAN JUAN 29-6 UNIT #213		13590	SJ 29-6		29N06W30		1		10		98		12		45		11		5		0		29		22		127
SAN JUAN 29-6 UNIT #214		13595	SJ 29-6		29N06W03		1		15		1,186		143		548		46		61		0		441		346		137
SAN JUAN 29-6 UNIT #215		13599	SJ 29-6		29N06W03		1		17		705		85		326		34		36		0		255		185		175
SAN JUAN 29-6 UNIT #216		13596	SJ 29-6		29N06W04		1		13		472		57		218		24		24		0		169		130		138
SAN JUAN 29-6 UNIT #217		13612	SJ 29-6		29N06W05		1		23		2,429		294		1,122		89		125		0		908		646		193
SAN JUAN 29-6 UNIT #218		13605	SJ 29-6		29N06W05		1		10		327		40		151		18		17		0		116		95		181
SAN JUAN 29-6 UNIT #219		13593	SJ 29-6		29N06W10		1		22		1,209		146		558		53		62		0		444		307		139
SAN JUAN 29-6 UNIT #220		13600	SJ 29-6		29N06W11		1		17		494		60		228		28		25		0		174		124		165
SAN JUAN 29-6 UNIT #221		13601	SJ 29-6		29N06W11		1		19		761		92		351		37		39		0		275		193		159
SAN JUAN 29-6 UNIT #222		13718	SJ 29-6		29N06W12		1		33		1,410		171		651		68		72		0		511		293		183
SAN JUAN 29-6 UNIT #223		13611	SJ 29-6		29N06W12		1		25		1,561		189		721		66		80		0		575		382		160
SAN JUAN 29-6 UNIT #224		13696	SJ 29-6		29N06W13		1		14		204		25		94		18		10		0		66		47		184
SAN JUAN 29-6 UNIT #225R		13947	SJ 29-6		29N06W13		1		3		13		2		6		3		1		0		3		2		332
SAN JUAN 29-6 UNIT #226		14396	SJ 29-6		29N06W14		1		36		4,978		602		2,298		173		255		0		1,870		1,154		154
SAN JUAN 29-6 UNIT #227		13765	SJ 29-6		29N06W14		1		0		2		0		1		0		0		0		0		0		155
SAN JUAN 29-6 UNIT #229		13766	SJ 29-6		29N06W35		1		21		259		31		119		24		13		0		82		50		162
SAN JUAN 29-6 UNIT #230		13602	SJ 29-6		29N06W35		1		19		211		8		30		7		3		0		20		12		140
SAN JUAN 29-6 UNIT #231		13594	SJ 29-6		29N06W36		1		1		5		1		3		1		0		0		1		1		141
SAN JUAN 29-6 UNIT #233		13767	SJ 29-6		29N06W26		1		12		176		20		76		14		8		0		54		41		176
SAN JUAN 29-6 UNIT #235		14513	SJ 29-6		29N06W34		1		34		509		62		235		43		26		0		166		83		208
SAN JUAN 29-6 UNIT #236		13694	SJ 29-6		29N06W18		1		26		1,347		163		622		60		69		0		492		316		177
SAN JUAN 29-6 UNIT #237		13674	SJ 29-6		29N06W01		1		23		1,048		127		484		49		54		0		381		254		197
SAN JUAN 29-6 UNIT #238		13675	SJ 29-6		29N06W01		1		14		634		77		293		30		33		0		231		178		198
SAN JUAN 29-6 UNIT #239		13676	SJ 29-6		29N06W02		1		14		683		83		315		31		35		0		249		192		170
SAN JUAN 29-6 UNIT #240		13686	SJ 29-6		29N06W18		1		25		2,046		247		944		80		105		0		760		510		251
SAN JUAN 29-6 UNIT #241		13687	SJ 29-6		29N06W19		1		31		2,054		249		948		84		105		0		759		470		252
SAN JUAN 29-6 UNIT #242		13688	SJ 29-6		29N06W19		1		29		1,571		190		725		69		81		0		576		358		178
SAN JUAN 29-6 UNIT #243		13768	SJ 29-6		29N06W31		1		23		216		8		31		8		3		0		19		11		255
SAN JUAN 29-6 UNIT #245		13667	SJ 29-6		29N06W08		1		20		1,126		136		520		49		58		0		413		291		242
SAN JUAN 29-6 UNIT #246		14397	SJ 29-6		29N06W08		1		7		61		7		28		8		3		0		17		14		209
SAN JUAN 29-6 UNIT #247R		13814	SJ 29-6		29N06W10		1		17		411		50		190		26		21		0		143		101		338
SAN JUAN 29-6 UNIT #249		13796	SJ 29-6		29N06W22		1		8		62		7		29		9		3		0		17		13		323
SAN JUAN 29-6 UNIT #251		13803	SJ 29-6		29N06W23		1		11		65		10		37		14		4		0		19		14		317
SAN JUAN 29-6 UNIT #257R		13815	SJ 29-6		29N06W09		1		26		1,263		153		583		58		65		0		460		294		339

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 16 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 29-6 UNIT #258		13695	SJ 29-6		29N06W16		1		26		2,053		248		948		80		105		0		762		510		186
SAN JUAN 29-6 UNIT #259		14399	SJ 29-6		29N06W09		1		9		243		29		112		14		12		0		85		70		185
SAN JUAN 29-6 UNIT #260		14400	SJ 29-6		29N06W16		1		12		205		25		95		16		11		0		68		51		187
SAN JUAN 29-6 UNIT #262		14401	SJ 29-6		29N06W21		1		25		1,857		225		858		74		95		0		688		463		307
SAN JUAN 29-6 UNIT #263		13802	SJ 29-6		29N06W22		1		7		67		10		38		10		4		0		24		20		320
SAN JUAN 29-6 UNIT #264		13841	SJ 29-6		29N06W27		1		10		67		8		31		10		3		0		17		13		341
SAN JUAN 29-7 UNIT #507R		12667	SJ 29-7		29N07W13		1		29		1,869		189		720		63		80		0		577		366		330
SAN JUAN 29-7 UNIT #520		12524	SJ 29-7		29N07W08		1		17		267		27		103		18		11		0		74		49		342
SAN JUAN 29-7 UNIT #521		12653	SJ 29-7		29N07W13		1		23		1,312		132		505		46		56		0		404		276		221
SAN JUAN 29-7 UNIT #530		13882	SJ 29-7		29N07W34		1		29		497		50		192		31		21		0		139		76		195
SAN JUAN 29-7 UNIT #532		14349	SJ 29-7		29N07W02		1		13		291		29		112		16		12		0		84		62		145
SAN JUAN 29-7 UNIT #533		14464	SJ 29-7		29N07W03		1		8		145		15		56		9		6		0		41		34		196
SAN JUAN 29-7 UNIT #534		12668	SJ 29-7		29N07W09		1		16		520		52		200		23		22		0		155		113		327
SAN JUAN 29-7 UNIT #537		12669	SJ 29-7		29N07W22		1		8		128		13		49		8		5		0		35		29		290
SAN JUAN 29-7 UNIT #538		14402	SJ 29-7		29N07W26		1		25		577		58		222		30		25		0		167		101		200
SAN JUAN 29-7 UNIT #540		12654	SJ 29-7		29N07W10		1		14		267		27		103		16		11		0		76		55		284
SAN JUAN 29-7 UNIT #543		12655	SJ 29-7		29N07W03		1		35		1,085		110		418		49		46		0		323		175		299
SAN JUAN 29-7 UNIT #544		12656	SJ 29-7		29N07W04		1		26		2,021		204		778		64		87		0		627		418		283
SAN JUAN 29-7 UNIT #545		12657	SJ 29-7		29N07W12		1		30		2,287		231		881		74		98		0		709		446		210
SAN JUAN 29-7 UNIT #547		14403	SJ 29-7		29N07W07		1		24		650		66		250		31		28		0		191		118		291
SAN JUAN 29-7 UNIT #548		14372	SJ 29-7		29N07W07		1		38		687		69		264		41		29		0		194		93		300
SAN JUAN 29-7 UNIT #550		12659	SJ 29-7		29N07W11		1		14		635		64		245		24		27		0		193		149		215
SAN JUAN 29-7 UNIT #552		12652	SJ 29-7		29N07W12		1		21		1,841		186		709		57		79		0		573		408		314
SAN JUAN 29-7 UNIT #553		12661	SJ 29-7		29N07W14		1		20		1,619		163		623		51		69		0		503		364		234
SAN JUAN 29-7 UNIT #554		12662	SJ 29-7		29N07W14		1		19		492		323		1,232		154		137		0		941		643		201
SAN JUAN 29-7 UNIT #559		14404	SJ 29-7		29N07W22		1		20		256		26		98		19		11		0		68		42		244
SAN JUAN 29-7 UNIT #562		12664	SJ 29-7		29N07W24		1		27		2,178		220		839		69		93		0		677		443		239
SAN JUAN 29-7 UNIT #563		12665	SJ 29-7		29N07W24		1		5		42		19		71		19		8		0		44		37		285
SAN JUAN 29-7 UNIT #565		14231	SJ 29-7		29N07W26		1		16		105		69		263		83		29		0		151		95		203
SAN JUAN 29-7 UNIT #577		14232	SJ 29-7		29N07W35		1		10		92		7		26		7		3		0		16		12		275
SAN JUAN 29-7 UNIT #580		14465	SJ 29-7		29N07W01		1		18		1,378		139		531		44		59		0		427		315		219
SAN JUAN 29-7 UNIT #582		12666	SJ 29-7		29N07W02		1		21		1,716		173		661		54		73		0		534		382		211
SAN JUAN 29-7 UNIT #583		12670	SJ 29-7		29N07W06		1		8		103		10		40		8		4		0		28		23		329
SAN JUAN 30-5 UNIT #201		13550	SJ 30-5		30N05W19		1		28		2,319		395		1,509		126		168		0		1,215		792		123
SAN JUAN 30-5 UNIT #202		13551	SJ 30-5		30N05W06		1		28		2,835		421		1,606		131		179		0		1,296		853		116
SAN JUAN 30-5 UNIT #203		13607	SJ 30-5		30N05W06		1		6		80		14		52		11		6		0		35		30		156
SAN JUAN 30-5 UNIT #204		13726	SJ 30-5		30N05W07		1		21		400		68		260		41		29		0		191		121		163
SAN JUAN 30-5 UNIT #205		13772	SJ 30-5		30N05W07		1		6		81		14		53		11		6		0		36		31		148
SAN JUAN 30-5 UNIT #206		13711	SJ 30-5		30N05W18		1		16		618		105		402		44		45		0		314		230		166
SAN JUAN 30-5 UNIT #207		13727	SJ 30-5		30N05W18		1		17		1,118		191		727		65		81		0		581		434		192
SAN JUAN 30-5 UNIT #208		13665	SJ 30-5		30N05W19		1		18		1,882		321		1,224		97		136		0		991		743		199
SAN JUAN 30-5 UNIT #209		13606	SJ 30-5		30N05W30		1		20		1,408		240		916		80		102		0		734		526		167

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 17 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-5 UNIT #210		13682	SJ 30-5		30N05W30		1		9		323		55		210		24		23		0		163		136		264
SAN JUAN 30-5 UNIT #211		13683	SJ 30-5		30N05W31		1		20		1,071		183		697		67		77		0		552		387		172
SAN JUAN 30-5 UNIT #212		13617	SJ 30-5		30N05W31		1		19		828		141		538		56		60		0		423		298		173
SAN JUAN 30-5 UNIT #213R		16986	SJ 30-5		30N05W05		1		24		1,777		303		1,156		100		129		0		928		631		624
SAN JUAN 30-5 UNIT #214		16987	SJ 30-5		30N05W05		1		17		1,510		257		983		80		109		0		793		604		638
SAN JUAN 30-5 UNIT #215		13660	SJ 30-5		30N05W08		1		18		1,252		1,095		4,180		352		465		0		3,363		2,495		190
SAN JUAN 30-5 UNIT #216R		13943	SJ 30-5		30N05W20		1		19		774		132		503		53		56		0		394		276		335
SAN JUAN 30-5 UNIT #217		13614	SJ 30-5		30N05W21		1		30		2,327		397		1,514		128		168		0		1,217		773		217
SAN JUAN 30-5 UNIT #218		13659	SJ 30-5		30N05W17		1		24		3,511		598		2,284		170		254		0		1,860		1,323		191
SAN JUAN 30-5 UNIT #219R		17250	SJ 30-5		30N05W16		1		4		143		24		93		11		10		0		72		65		625
SAN JUAN 30-5 UNIT #220R		15532	SJ 30-5		30N05W08		1		8		293		50		191		21		21		0		148		126		635
SAN JUAN 30-5 UNIT #223		13677	SJ 30-5		30N05W20		1		26		2,020		344		1,314		112		146		0		1,056		700		236
SAN JUAN 30-5 UNIT #224		12576	SJ 30-5		30N05W17		1		14		484		82		315		36		35		0		243		183		237
SAN JUAN 30-5 UNIT #225		14406	SJ 30-5		30N05W29		1		22		708		121		461		55		51		0		355		232		306
SAN JUAN 30-5 UNIT #226		13670	SJ 30-5		30N05W29		1		20		1,277		218		831		74		92		0		664		478		261
SAN JUAN 30-5 UNIT #226A		5772	SJ 30-5		30N05W29		1		19		1,600		282		1,076		89		120		0		867		607		983
SAN JUAN 30-5 UNIT #227		13672	SJ 30-5		30N05W28		1		24		1,125		192		732		74		81		0		577		377		232
SAN JUAN 30-5 UNIT #228		14407	SJ 30-5		30N05W28		1		17		540		92		351		41		39		0		271		195		310
SAN JUAN 30-5 UNIT #229		13673	SJ 30-5		30N05W21		1		31		2,669		455		1,736		144		193		0		1,399		875		270
SAN JUAN 30-5 UNIT #230		14366	SJ 30-5		30N05W32		1		19		1,471		251		957		81		106		0		769		564		238
SAN JUAN 30-5 UNIT #231		14409	SJ 30-5		30N05W32		1		18		544		93		354		43		39		0		272		191		233
SAN JUAN 30-5 UNIT #232		14408	SJ 30-5		30N05W33		1		1		7		1		4		2		0		0		2		2		321
SAN JUAN 30-5 UNIT #233		14443	SJ 30-5		30N05W33		1		25		920		157		599		66		67		0		466		295		322
SAN JUAN 30-5 UNIT #234		14410	SJ 30-5		30N05W22		1		36		4,246		724		2,762		213		307		0		2,242		1,370		318
SAN JUAN 30-5 UNIT #235		14411	SJ 30-5		30N05W27		1		16		407		69		265		35		29		0		200		142		311
SAN JUAN 30-5 UNIT #236		14412	SJ 30-5		30N05W27		1		6		76		13		50		10		6		0		34		30		303
SAN JUAN 30-5 UNIT #237		14413	SJ 30-5		30N05W16		1		0		1		0		2		1		0		0		1		1		308
SAN JUAN 30-5 UNIT #238		14414	SJ 30-5		30N05W34		1		10		173		29		112		18		12		0		82		64		312
SAN JUAN 30-5 UNIT #239		13949	SJ 30-5		30N05W15		1		20		994		169		647		64		72		0		511		355		315
SAN JUAN 30-5 UNIT #240		14415	SJ 30-5		30N05W22		1		30		3,263		556		2,123		167		236		0		1,720		1,113		324
SAN JUAN 30-5 UNIT #241		14416	SJ 30-5		30N05W23		1		16		410		70		267		36		30		0		201		143		325
SAN JUAN 30-5 UNIT #242		14444	SJ 30-5		30N05W34		1		3		26		4		17		5		2		0		11		10		316
SAN JUAN 30-5 UNIT #243		14069	SJ 30-5		30N05W15		1		30		1,859		317		1,209		110		134		0		965		600		346
SAN JUAN 30-5 UNIT #246		13948	SJ 30-5		30N05W26		1		16		598		102		389		43		43		0		303		223		331
SAN JUAN 30-5 UNIT #249		14068	SJ 30-5		30N05W23		1		15		819		140		533		50		59		0		424		326		632
SAN JUAN 30-5 UNIT #255		13842	SJ 30-5		30N05W14		1		15		782		133		509		49		57		0		403		306		340
SAN JUAN 30-5 UNIT #257		14025	SJ 30-5		30N05W11		1		22		2,018		344		1,313		107		146		0		1,060		749		345
SAN JUAN 30-5 UNIT #258		14026	SJ 30-5		30N05W14		1		27		2,901		495		1,887		149		210		0		1,529		1,027		344
SAN JUAN 30-5 UNIT #259		8011	SJ 30-5		30N05W13		1		16		935		159		608		57		68		0		484		362		630
SAN JUAN 30-5 UNIT #260		12646	SJ 30-5		30N05W09		1		5		610		104		397		31		44		0		322		295		633
SAN JUAN 30-5 UNIT #261		5424	SJ 30-5		30N05W11		1		15		829		141		539		51		60		0		429		329		682
SAN JUAN 30-5 UNIT #262		8012	SJ 30-5		30N05W12		1		13		900		153		586		51		65		0		470		378		631

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 18 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-5 UNIT #263		5425	SJ 30-5		30N05W13		1		17		1,098		187		714		64		79		0		571		430		683
SAN JUAN 30-5 UNIT #264		12619	SJ 30-5		30N05W09		1		22		3,781		645		2,460		179		273		0		2,008		1,465		634
SAN JUAN 30-5 UNIT #265		15533	SJ 30-5		30N05W10		1		20		3,929		670		2,556		182		284		0		2,090		1,581		637
SAN JUAN 30-5 UNIT #266		15534	SJ 30-5		30N05W10		1		23		3,915		667		2,547		185		283		0		2,079		1,513		636
SAN JUAN 30-5 UNIT #267		5046	SJ 30-5		30N05W24		1		13		780		133		508		47		56		0		405		320		1246
SAN JUAN 30-5 UNIT #268		10177	SJ 30-5		30N05W24		1		16		709		121		461		48		51		0		362		266		1247
SAN JUAN 30-6 UNIT #400		14164	SJ 30-6		30N07W14		1		16		1,450		72		276		23		31		0		223		172		23
SAN JUAN 30-6 UNIT #401R		14165	SJ 30-6		30N07W13		1		10		586		29		112		10		12		0		89		74		79
SAN JUAN 30-6 UNIT #403		13648	SJ 30-6		30N06W09		1		28		2,679		134		510		41		57		0		412		270		171
SAN JUAN 30-6 UNIT #404R		14459	SJ 30-6		30N07W23		1		9		453		23		86		9		10		0		68		57		328
SAN JUAN 30-6 UNIT #405		13580	SJ 30-6		30N06W09		1		19		862		43		164		17		18		0		129		92		128
SAN JUAN 30-6 UNIT #406R		14167	SJ 30-6		30N07W15		1		20		1,281		64		244		22		27		0		195		139		108
SAN JUAN 30-6 UNIT #407		13559	SJ 30-6		30N06W16		1		25		2,344		117		447		36		50		0		361		245		120
SAN JUAN 30-6 UNIT #408		13558	SJ 30-6		30N06W16		1		25		2,083		104		397		33		44		0		320		217		119
SAN JUAN 30-6 UNIT #409		14168	SJ 30-6		30N07W25		1		25		3,217		161		613		47		68		0		498		346		30
SAN JUAN 30-6 UNIT #410		14211	SJ 30-6		30N06W26		1		20		1,172		59		223		21		25		0		178		126		135
SAN JUAN 30-6 UNIT #411		14169	SJ 30-6		30N07W27		1		17		574		29		109		12		12		0		85		61		33
SAN JUAN 30-6 UNIT #412		14170	SJ 30-6		30N07W24		1		26		3,080		154		587		45		65		0		476		326		24
SAN JUAN 30-6 UNIT #413R		14171	SJ 30-6		30N07W23		1		23		2,020		101		385		32		43		0		310		217		84
SAN JUAN 30-6 UNIT #414		14172	SJ 30-6		30N07W35		1		24		980		49		187		20		21		0		146		96		25
SAN JUAN 30-6 UNIT #415		14173	SJ 30-6		30N07W26		1		29		2,930		146		558		44		62		0		452		296		32
SAN JUAN 30-6 UNIT #416		14174	SJ 30-6		30N07W24		1		24		3,183		159		607		46		67		0		493		349		28
SAN JUAN 30-6 UNIT #417		14175	SJ 30-6		30N07W25		1		21		1,820		91		347		29		39		0		280		202		29
SAN JUAN 30-6 UNIT #418		14176	SJ 30-6		30N07W26		1		25		3,095		155		590		45		66		0		479		318		31
SAN JUAN 30-6 UNIT #419		14177	SJ 30-6		30N07W11		1		15		664		33		127		13		14		0		100		76		26
SAN JUAN 30-6 UNIT #420		14178	SJ 30-6		30N07W12		1		20		945		47		180		18		20		0		142		100		27
SAN JUAN 30-6 UNIT #421		14179	SJ 30-6		30N07W34		1		5		37		2		7		2		1		0		4		4		37
SAN JUAN 30-6 UNIT #422		14264	SJ 30-6		30N07W27		1		24		1,079		54		206		21		23		0		162		106		59
SAN JUAN 30-6 UNIT #423		14462	SJ 30-6		30N07W28		1		25		744		37		142		17		16		0		109		67		95
SAN JUAN 30-6 UNIT #424		14463	SJ 30-6		30N07W33		1		15		451		23		86		10		10		0		66		49		56
SAN JUAN 30-6 UNIT #425		14385	SJ 30-6		30N07W33		1		17		1,205		60		230		20		26		0		184		137		47
SAN JUAN 30-6 UNIT #426		14180	SJ 30-6		30N07W34		1		4		53		3		10		2		1		0		7		6		54
SAN JUAN 30-6 UNIT #427		14181	SJ 30-6		30N07W35		1		17		977		49		186		17		21		0		148		109		60
SAN JUAN 30-6 UNIT #428		14358	SJ 30-6		30N07W28		1		24		1,317		66		251		24		28		0		199		132		82
SAN JUAN 30-6 UNIT #429		14359	SJ 30-6		30N07W32		1		6		98		5		19		3		2		0		13		12		67
SAN JUAN 30-6 UNIT #430		13543	SJ 30-6		30N06W08		1		17		1,562		78		298		24		33		0		240		183		38
SAN JUAN 30-6 UNIT #431		13544	SJ 30-6		30N06W10		1		24		2,417		121		461		37		51		0		372		258		40
SAN JUAN 30-6 UNIT #432		13545	SJ 30-6		30N06W10		1		27		1,931		96		368		32		41		0		295		194		39
SAN JUAN 30-6 UNIT #433		14182	SJ 30-6		30N06W11		1		20		1,327		66		253		22		28		0		202		146		48
SAN JUAN 30-6 UNIT #434		14183	SJ 30-6		30N06W12		1		22		1,941		97		370		30		41		0		298		212		58
SAN JUAN 30-6 UNIT #435		14184	SJ 30-6		30N06W13		1		24		1,571		78		299		27		33		0		239		161		70
SAN JUAN 30-6 UNIT #436		14185	SJ 30-6		30N06W15		1		21		1,900		95		362		30		40		0		292		212		41

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 19 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-6 UNIT #437		14186	SJ 30-6		30N06W11		1		31		2,660		133		507		42		56		0		409		258		62
SAN JUAN 30-6 UNIT #438		14187	SJ 30-6		30N06W12		1		17		1,512		75		288		24		32		0		232		177		68
SAN JUAN 30-6 UNIT #439		14188	SJ 30-6		30N06W14		1		23		1,396		70		266		24		30		0		212		145		49
SAN JUAN 30-6 UNIT #440		14189	SJ 30-6		30N06W15		1		7		113		6		22		4		2		0		16		13		50
SAN JUAN 30-6 UNIT #441		14190	SJ 30-6		30N06W31		1		19		604		30		115		14		13		0		89		62		53
SAN JUAN 30-6 UNIT #442		13568	SJ 30-6		30N06W14		1		29		2,972		148		566		45		63		0		458		298		96
SAN JUAN 30-6 UNIT #443		13532	SJ 30-6		30N06W36		1		4		30		2		6		2		1		0		3		3		69
SAN JUAN 30-6 UNIT #444		14208	SJ 30-6		30N06W36		1		26		1,650		82		314		28		35		0		251		166		66
SAN JUAN 30-6 UNIT #445		14209	SJ 30-6		30N06W13		1		23		1,660		83		316		27		35		0		254		176		73
SAN JUAN 30-6 UNIT #446		14204	SJ 30-6		30N06W35		1		35		4,542		227		866		66		96		0		703		436		129
SAN JUAN 30-6 UNIT #447		14206	SJ 30-6		30N07W31		1		17		615		31		117		13		13		0		91		66		147
SAN JUAN 30-6 UNIT #450		13536	SJ 30-6		30N06W07		1		27		2,748		137		524		42		58		0		424		285		43
SAN JUAN 30-6 UNIT #451		13534	SJ 30-6		30N06W07		1		32		3,930		196		749		58		83		0		608		387		42
SAN JUAN 30-6 UNIT #452		13535	SJ 30-6		30N06W08		1		19		1,442		72		275		23		31		0		221		162		61
SAN JUAN 30-6 UNIT #453		14191	SJ 30-6		30N06W17		1		22		1,439		72		274		25		30		0		219		152		57
SAN JUAN 30-6 UNIT #454		14192	SJ 30-6		30N06W17		1		26		2,539		127		484		39		54		0		391		266		44
SAN JUAN 30-6 UNIT #455		14161	SJ 30-6		30N06W18		1		22		1,405		70		268		24		30		0		214		147		52
SAN JUAN 30-6 UNIT #456		13537	SJ 30-6		30N06W18		1		23		2,800		140		534		41		59		0		433		310		51
SAN JUAN 30-6 UNIT #457		14193	SJ 30-6		30N06W19		1		24		2,501		125		477		38		53		0		386		267		45
SAN JUAN 30-6 UNIT #458		14194	SJ 30-6		30N06W19		1		18		1,153		58		220		20		24		0		175		128		63
SAN JUAN 30-6 UNIT #459		14195	SJ 30-6		30N06W20		1		16		1,072		54		204		18		23		0		164		125		64
SAN JUAN 30-6 UNIT #460		14162	SJ 30-6		30N06W20		1		16		1,254		63		239		20		27		0		192		146		55
SAN JUAN 30-6 UNIT #461		14251	SJ 30-6		30N07W11		1		20		858		43		163		17		18		0		128		89		80
SAN JUAN 30-6 UNIT #462		14196	SJ 30-6		30N07W12		1		28		1,920		96		366		32		41		0		293		189		83
SAN JUAN 30-6 UNIT #463		14197	SJ 30-6		30N07W13		1		24		1,413		71		269		25		30		0		214		143		81
SAN JUAN 30-6 UNIT #464		14198	SJ 30-6		30N07W14		1		18		767		38		146		15		16		0		115		82		46
SAN JUAN 30-6 UNIT #465		14199	SJ 30-6		30N07W15		1		22		1,512		75		288		25		32		0		231		161		65
SAN JUAN 30-6 UNIT #466		14200	SJ 30-6		30N07W22		1		12		495		25		94		10		10		0		74		59		75
SAN JUAN 30-6 UNIT #467 COM FRT.		4496	NEBU		30N07W22		1		19		999		28		106		10		12		0		84		61		105
SAN JUAN 30-6 UNIT #468		14252	SJ 30-6		30N07W36		1		30		3,364		168		641		50		71		0		520		336		91
SAN JUAN 30-6 UNIT #470		14253	SJ 30-6		30N06W21		1		19		1,410		70		269		23		30		0		216		157		102
SAN JUAN 30-6 UNIT #471		14254	SJ 30-6		30N06W21		1		17		1,152		58		220		19		24		0		176		132		113
SAN JUAN 30-6 UNIT #472		14255	SJ 30-6		30N06W22		1		21		757		38		144		16		16		0		112		76		107
SAN JUAN 30-6 UNIT #473		14256	SJ 30-6		30N06W22		1		19		1,136		57		217		20		24		0		172		124		106
SAN JUAN 30-6 UNIT #474		14257	SJ 30-6		30N06W27		1		27		2,652		132		505		41		56		0		409		272		97
SAN JUAN 30-6 UNIT #475		14258	SJ 30-6		30N06W27		1		29		3,565		178		679		52		76		0		552		364		109
SAN JUAN 30-6 UNIT #476		14163	SJ 30-6		30N06W28		1		24		1,945		97		371		31		41		0		298		205		100
SAN JUAN 30-6 UNIT #477		14210	SJ 30-6		30N06W28		1		31		3,718		186		708		55		79		0		575		370		111
SAN JUAN 30-6 UNIT #478		14205	SJ 30-6		30N06W29		1		26		2,782		139		530		42		59		0		429		290		101
SAN JUAN 30-6 UNIT #479		14259	SJ 30-6		30N06W29		1		22		1,835		92		350		29		39		0		281		197		134
SAN JUAN 30-6 UNIT #480		14260	SJ 30-6		30N06W30		1		19		1,108		55		211		20		23		0		168		121		110
SAN JUAN 30-6 UNIT #481		14261	SJ 30-6		30N06W30		1		33		3,939		197		751		58		83		0		609		387		99

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 20 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-6 UNIT #482		14266	SJ 30-6		30N06W31		1		30		3,145		157		599		48		67		0		485		313		142
SAN JUAN 30-6 UNIT #483		14207	SJ 30-6		30N06W34		1		23		1,229		61		234		22		26		0		186		126		104
SAN JUAN 30-6 UNIT #484		14249	SJ 30-6		30N06W34		1		40		2,137		107		407		39		45		0		323		174		103
SAN JUAN 30-6 UNIT #485		14233	SJ 30-6		30N07W36		1		27		2,766		138		527		42		59		0		426		285		204
SAN JUAN 30-6 UNIT #486		14234	SJ 30-6		30N06W23		1		14		951		47		181		16		20		0		145		115		271
SAN JUAN 30-6 UNIT #487		14235	SJ 30-6		30N06W23		1		25		2,134		107		407		34		45		0		328		221		292
SAN JUAN 30-6 UNIT #488		14236	SJ 30-6		30N06W24		1		15		484		24		92		11		10		0		71		52		222
SAN JUAN 30-6 UNIT #489		14237	SJ 30-6		30N06W24		1		23		2,012		100		383		32		43		0		309		214		249
SAN JUAN 30-6 UNIT #490		14238	SJ 30-6		30N06W25		1		15		1,034		52		197		18		22		0		158		121		223
SAN JUAN 30-6 UNIT #491		14239	SJ 30-6		30N06W25		1		23		1,757		88		335		29		37		0		269		187		224
SAN JUAN 30-6 UNIT #492		14240	SJ 30-6		30N06W26		1		23		1,244		62		237		23		26		0		188		126		230
SAN JUAN 30-6 UNIT #493		14241	SJ 30-6		30N06W32		1		20		1,203		60		229		21		25		0		183		129		205
SAN JUAN 30-6 UNIT #494		14242	SJ 30-6		30N06W33		1		32		4,042		202		770		59		86		0		626		399		212
SAN JUAN 30-6 UNIT #495		14243	SJ 30-6		30N06W33		1		26		2,132		106		406		34		45		0		327		220		213
SAN JUAN 30-6 UNIT #496		14244	SJ 30-6		30N06W35		1		21		842		42		160		17		18		0		126		86		225
SAN JUAN 30-6 UNIT #497		14245	SJ 30-6		30N07W29		1		28		884		44		168		20		19		0		130		78		259
SAN JUAN 30-6 UNIT #498R		13946	SJ 30-6		30N07W30		1		1		3		0		2		1		0		0		1		1		336
SAN JUAN 30-6 UNIT #500		14417	SJ 30-6		30N07W31		1		22		345		51		195		35		22		0		138		84		240
SAN JUAN 30-6 UNIT #501		14248	SJ 30-6		30N06W32		1		20		1,530		76		292		25		32		0		234		169		206
SAN JUAN 31 FEDERAL 3 #2		14418	NON-UNIT		31N09W03		1		29		2,235		332		1,267		110		141		0		1,016		654		559
SAN JUAN 31-6 UNIT #201		13540	SJ 31-6		30N06W01		1		25		1,243		133		508		51		56		0		401		261		130
SAN JUAN 31-6 UNIT #202		13552	SJ 31-6		30N06W01		1		29		2,471		265		1,010		86		112		0		812		523		118
SAN JUAN 31-6 UNIT #203		13539	SJ 31-6		30N06W03		1		15		509		55		208		24		23		0		161		120		88
SAN JUAN 31-6 UNIT #204		13541	SJ 31-6		30N06W03		1		18		1,350		145		552		49		61		0		442		326		90
SAN JUAN 31-6 UNIT #205R		12574	SJ 31-6		30N06W04		1		10		228		24		93		13		10		0		70		56		343
SAN JUAN 31-6 UNIT #206		13542	SJ 31-6		30N06W04		1		9		300		32		123		14		14		0		95		79		92
SAN JUAN 31-6 UNIT #207		13533	SJ 31-6		30N06W06		1		21		852		91		348		38		39		0		272		186		94
SAN JUAN 31-6 UNIT #208		14213	SJ 31-6		30N06W06		1		21		621		66		254		31		28		0		194		130		89
SAN JUAN 31-6 UNIT #209		14214	SJ 31-6		30N07W01		1		14		459		49		187		22		21		0		145		110		87
SAN JUAN 31-6 UNIT #210		13618	SJ 31-6		30N06W02		1		16		1,130		121		462		41		51		0		370		283		168
SAN JUAN 31-6 UNIT #211		13553	SJ 31-6		30N06W02		1		27		2,486		266		1,016		85		113		0		818		541		114
SAN JUAN 31-6 UNIT #212		13615	SJ 31-6		30N06W05		1		13		790		85		323		30		36		0		257		205		164
SAN JUAN 31-6 UNIT #213		13554	SJ 31-6		30N06W05		1		20		1,317		141		538		49		60		0		429		304		121
SAN JUAN 31-6 UNIT #214		13646	SJ 31-6		31N06W36		1		17		833		89		340		34		38		0		268		196		254
SAN JUAN 31-6 UNIT #215		13616	SJ 31-6		31N06W36		1		26		1,479		158		604		58		67		0		479		310		150
SAN JUAN 31-6 UNIT #216		13647	SJ 31-6		31N06W35		1		17		765		82		313		33		35		0		245		178		287
SAN JUAN 31-6 UNIT #217		13609	SJ 31-6		31N06W35		1		12		398		43		163		19		18		0		125		98		157
SAN JUAN 31-6 UNIT #218		13671	SJ 31-6		31N06W34		1		16		454		49		185		23		21		0		141		103		265
SAN JUAN 31-6 UNIT #219		13608	SJ 31-6		31N06W34		1		29		2,096		224		856		76		95		0		685		434		158
SAN JUAN 31-6 UNIT #220R		18278	SJ 31-6		31N06W33		1		0		0		0		0		0		0		0		0		0		641
SAN JUAN 31-6 UNIT #221		13656	SJ 31-6		31N06W33		1		22		861		92		352		39		39		0		274		183		253
SAN JUAN 31-6 UNIT #222		13666	SJ 31-6		31N06W32		1		12		320		34		131		17		15		0		99		76		220

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 21 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 31-6 UNIT #223		13613	SJ 31-6		31N06W32		1		23		1,214		130		496		49		55		0		392		265		149
SAN JUAN 31-6 UNIT #224		13691	SJ 31-6		31N06W31		1		11		395		42		161		19		18		0		125		99		274
SAN JUAN 31-6 UNIT #225R		13697	SJ 31-6		31N06W31		1		26		1,376		147		562		55		63		0		445		289		263
SAN JUAN 31-6 UNIT #228		14419	SJ 31-6		31N06W28		1		21		1,252		134		512		48		57		0		407		285		272
SAN JUAN 31-6 UNIT #229R		18279	SJ 31-6		31N06W28		1		16		590		63		241		27		27		0		187		136		640
SAN JUAN 31-6 UNIT #230		13555	SJ 31-6		31N06W27		1		28		1,817		195		743		68		83		0		592		381		125
SAN JUAN 31-6 UNIT #231R		17256	SJ 31-6		31N06W27		1		12		316		34		129		17		14		0		98		76		627
SAN JUAN 31-6 UNIT #232		13692	SJ 31-6		30N07W01		1		17		632		68		258		29		29		0		201		145		262
SAN JUAN 31-6 UNIT #233		13693	SJ 31-6		31N06W29		1		18		576		62		236		28		26		0		181		128		227
SAN JUAN 31-6 UNIT #234R		14007	SJ 31-6		31N06W29		1		8		165		18		68		10		8		0		50		41		337
SAN JUAN 32-7 UNIT #203R		12467	SJ 32-7		32N07W22		1		28		2,671		445		1,699		140		189		0		1,369		895		621
SAN JUAN 32-7 UNIT #204		13546	SJ 32-7		32N07W36		1		21		1,785		297		1,135		96		126		0		913		656		412
SAN JUAN 32-7 UNIT #206		12647	SJ 32-7		32N07W27		1		17		1,231		205		783		69		87		0		627		475		656
SAN JUAN 32-7 UNIT #207		13698	SJ 32-7		32N07W27		1		26		3,024		504		1,923		152		214		0		1,557		1,062		468
SAN JUAN 32-7 UNIT #208		13710	SJ 32-7		32N07W34		1		34		5,150		1,976		7,539		569		838		0		6,132		3,911		469
SAN JUAN 32-7 UNIT #209		13640	SJ 32-7		32N07W35		1		5		372		62		237		21		26		0		190		173		476
SAN JUAN 32-7 UNIT #210		13598	SJ 32-7		32N07W36		1		16		1,375		229		874		74		97		0		703		542		433
SAN JUAN 32-7 UNIT #211R		12642	SJ 32-7		32N07W35		1		16		940		157		598		56		66		0		476		362		618
SAN JUAN 32-7 UNIT #214		13717	SJ 32-7		32N07W34		1		7		81		31		119		26		13		0		79		66		551
SAN JUAN 32-7 UNIT #215		13700	SJ 32-7		32N07W32		1		15		987		164		627		58		70		0		500		383		481
SAN JUAN 32-7 UNIT #216		14422	SJ 32-7		31N07W04		1		10		204		34		130		20		14		0		95		75		581
SAN JUAN 32-7 UNIT #217		13701	SJ 32-7		31N07W04		1		11		322		54		204		26		23		0		156		122		570
SAN JUAN 32-7 UNIT #218		13702	SJ 32-7		31N07W05		1		25		1,627		271		1,035		94		115		0		826		554		571
SAN JUAN 32-7 UNIT #219		13703	SJ 32-7		31N07W05		1		21		2,003		334		1,274		105		142		0		1,027		735		572
SAN JUAN 32-7 UNIT #221		13704	SJ 32-7		31N07W08		1		26		1,988		331		1,265		110		141		0		1,014		676		552
SAN JUAN 32-7 UNIT #222		14423	SJ 32-7		32N07W20		1		16		1,234		186		710		61		79		0		570		436		588
SAN JUAN 32-7 UNIT #228		4816	SJ 32-7		31N07W07		1		18		2,456		209		798		61		89		0		648		492		617
SAN JUAN 32-7 UNIT #229		13729	SJ 32-7		31N07W09		1		26		2,021		337		1,285		111		143		0		1,031		689		566
SAN JUAN 32-7 UNIT #230		12620	SJ 32-7		31N07W17		1		26		2,448		408		1,557		128		173		0		1,256		850		616
SAN JUAN 32-7 UNIT #231		13664	SJ 32-7		31N07W17		1		11		207		34		132		21		15		0		96		75		567
SAN JUAN 32-7 UNIT #232		13705	SJ 32-7		31N07W08		1		14		564		94		358		39		40		0		279		211		556
SAN JUAN 32-7 UNIT #233		14452	SJ 32-7		32N07W20		1		22		2,330		388		1,482		119		165		0		1,198		858		592
SAN JUAN 32-7 UNIT #234		14425	SJ 32-7		32N07W32		1		19		1,321		220		840		75		93		0		672		491		583
SAN JUAN 32-7 UNIT #235		14426	SJ 32-7		32N07W29		1		30		5,927		988		3,769		274		419		0		3,077		2,064		589
SAN JUAN 32-7 UNIT #238		14455	SJ 32-7		32N07W29		1		25		3,015		502		1,917		150		213		0		1,554		1,077		593
SAN JUAN 32-7 UNIT #242		12643	SJ 32-7		32N07W33		1		20		2,740		457		1,742		134		194		0		1,415		1,048		657
SAN JUAN 32-7 UNIT COM #213 FRT.		4832	SJ 32-7		31N07W07		1		27		1,710		180		687		63		76		0		547		354		573
SAN JUAN 32-7 UNIT COM #220 FRT.		4835	SJ 32-7		31N07W05		1		24		2,342		341		1,303		107		145		0		1,051		730		619
SAN JUAN 32-7 UNIT COM #224		4792	SJ 32-7		32N07W21		1		26		3,296		412		1,572		122		175		0		1,275		874		582
SAN JUAN 32-7 UNIT COM #227 FRT.		4843	SJ 32-7		31N07W18		1		20		1,320		165		631		57		70		0		503		362		574
SAN JUAN 32-8 UNIT #202		13657	SJ 32-8		32N08W27		1		28		3,425		391		1,492		116		166		0		1,210		816		432
SAN JUAN 32-8 UNIT #203		14507	SJ 32-8		32N08W33		1		16		1,300		148		566		48		63		0		455		349		584

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 22 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 32-8 UNIT #204		14508	SJ 32-8		32N08W34		1		20		2,158		246		940		76		104		0		760		555		585
SAN JUAN 32-8 UNIT #205		14511	SJ 32-8		32N08W34		1		19		2,062		235		898		71		100		0		727		546		590
SAN JUAN 32-8 UNIT #206		14445	SJ 32-8		31N08W24		1		18		1,167		133		508		47		56		0		405		296		548
SAN JUAN 32-8 UNIT #207		13591	SJ 32-8		31N08W22		1		26		2,757		315		1,201		97		133		0		971		656		414
SAN JUAN 32-8 UNIT #208		13557	SJ 32-8		32N08W29		1		27		3,003		343		1,308		104		145		0		1,059		718		419
SAN JUAN 32-8 UNIT #213		12648	SJ 32-8		32N08W22		1		22		1,463		167		637		58		71		0		509		355		614
SAN JUAN 32-8 UNIT #218		14509	SJ 32-8		32N08W35		1		21		1,006		115		438		44		49		0		345		237		586
SAN JUAN 32-8 UNIT #219		14510	SJ 32-8		32N08W35		1		24		3,016		344		1,314		102		146		0		1,066		751		587
SAN JUAN 32-8 UNIT #220		13706	SJ 32-8		31N08W24		1		18		1,072		122		467		43		52		0		372		275		544
SAN JUAN 32-8 UNIT #221		13642	SJ 32-8		31N08W09		1		15		1,023		117		446		40		50		0		356		277		499
SAN JUAN 32-8 UNIT #222		13658	SJ 32-8		31N08W09		1		20		990		113		431		43		48		0		341		240		500
SAN JUAN 32-8 UNIT #223		13643	SJ 32-8		31N08W10		1		18		890		102		388		38		43		0		306		223		488
SAN JUAN 32-8 UNIT #224		13644	SJ 32-8		31N08W10		1		26		2,149		245		936		80		104		0		752		504		486
SAN JUAN 32-8 UNIT #225		14427	SJ 32-8		31N08W15		1		19		1,483		169		646		56		72		0		518		383		517
SAN JUAN 32-8 UNIT #226		13707	SJ 32-8		31N08W15		1		16		1,253		143		546		47		61		0		438		334		487
SAN JUAN 32-8 UNIT #227		14428	SJ 32-8		31N08W16		1		18		1,098		125		478		44		53		0		381		281		473
SAN JUAN 32-8 UNIT #228		14429	SJ 32-8		31N08W16		1		12		552		63		240		25		27		0		189		151		471
SAN JUAN 32-8 UNIT #229		13708	SJ 32-8		32N08W20		1		21		2,836		324		1,235		95		137		0		1,003		736		501
SAN JUAN 32-8 UNIT #230		13716	SJ 32-8		32N08W28		1		16		2,099		240		914		70		102		0		742		584		510
SAN JUAN 32-8 UNIT #231		13715	SJ 32-8		32N08W28		1		17		1,622		185		706		58		79		0		570		434		511
SAN JUAN 32-8 UNIT #232		13709	SJ 32-8		32N08W29		1		26		2,645		302		1,152		94		128		0		930		626		502
SAN JUAN 32-8 UNIT #233		13712	SJ 32-8		32N08W30		1		20		2,156		246		939		75		104		0		759		555		512
SAN JUAN 32-8 UNIT #234		14430	SJ 32-8		31N08W21		1		29		3,310		378		1,442		114		160		0		1,167		770		565
SAN JUAN 32-8 UNIT #235		14431	SJ 32-8		31N08W21		1		13		520		59		226		24		25		0		177		139		564
SAN JUAN 32-8 UNIT #236		14432	SJ 32-8		31N08W22		1		19		1,433		164		624		55		69		0		500		365		577
SAN JUAN 32-8 UNIT #237		13645	SJ 32-8		31N08W23		1		24		1,434		164		625		59		69		0		497		332		539
SAN JUAN 32-8 UNIT #238		13652	SJ 32-8		31N08W23		1		16		1,348		154		587		50		65		0		472		360		538
SAN JUAN 32-8 UNIT #239		13714	SJ 32-8		32N08W30		1		13		389		44		170		21		19		0		130		99		569
SAN JUAN 32-8 UNIT #240		13725	SJ 32-8		31N08W03		1		10		698		80		304		27		34		0		243		205		553
SAN JUAN 32-8 UNIT #241		13713	SJ 32-8		31N08W04		1		17		1,430		163		623		53		69		0		501		382		554
SAN JUAN 32-8 UNIT #242		14433	SJ 32-8		31N08W04		1		22		1,555		178		677		60		75		0		542		380		576
SAN JUAN 32-8 UNIT #243		14434	SJ 32-8		31N08W11		1		22		1,617		185		704		62		78		0		564		397		555
SAN JUAN 32-8 UNIT #244		13730	SJ 32-8		31N08W14		1		25		2,521		288		1,098		89		122		0		887		612		562
SAN JUAN 32-8 UNIT #245		14435	SJ 32-8		31N08W14		1		19		1,701		194		741		62		82		0		597		442		563
SAN JUAN 32-8 UNIT #247		12555	SJ 32-8		32N08W19		1		16		2,674		305		1,165		86		129		0		949		751		1195
SAN JUAN 32-8 UNIT #248		14436	SJ 32-8		31N08W11		1		19		1,417		162		617		54		69		0		495		362		568
SAN JUAN 32-8 UNIT #249		14437	SJ 32-8		31N08W03		1		17		1,541		176		671		56		75		0		541		410		557
SAN JUAN 32-8 UNIT #250		13731	SJ 32-8		32N08W33		1		28		3,081		352		1,342		107		149		0		1,086		727		558
SAN JUAN 32-8 UNIT #253		12649	SJ 32-8		32N08W27		1		15		871		99		379		36		42		0		301		230		615
SAN JUAN 32-8 UNIT #254		14084	SJ 32-8		32N08W23		1		17		449		51		195		25		22		0		148		106		622
SAN JUAN 32-8 UNIT #255		1874	SJ 32-8		32N08W24		1		13		515		59		224		25		25		0		175		136		1196
SAN JUAN 32-8 UNIT #256		19424	SJ 32-8		32N08W25		1		24		3,312		378		1,443		110		160		0		1,172		831		628

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 23 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 32-8 UNIT #257		16981	SJ 32-8		32N08W19		1		17		1,643		187		715		59		80		0		577		440		1197
SAN JUAN 32-8 UNIT #259A		5043	SJ 32-8		32N08W22		1		18		1,307		149		569		50		63		0		456		336		724
SAN JUAN 32-8 UNIT #261		17021	SJ 32-8		32N08W17		1		13		469		54		204		23		23		0		159		123		1198
SAN JUAN 32-8 UNIT #36		15041	SJ 32-8		32N08W25		1		15		189		22		82		17		9		0		56		38		371
SAN JUAN 32-9 UNIT #104		14466	SJ 32-9		32N10W24		1		27		3,442		76		290		22		32		0		236		160		426
SAN JUAN 32-9 UNIT #105		14467	SJ 32-9		31N09W08		1		16		553		12		47		5		5		0		36		27		427
SAN JUAN 32-9 UNIT #201		14438	SJ 32-9		31N09W02		1		14		479		11		40		5		4		0		31		24		441
SAN JUAN 32-9 UNIT #202		14439	SJ 32-9		31N09W02		1		9		417		9		35		4		4		0		28		23		442
SAN JUAN 32-9 UNIT #209		14273	SJ 32-9		31N10W02		1		12		161		4		14		3		2		0		9		7		443
SAN JUAN 32-9 UNIT #210		14274	SJ 32-9		31N10W02		1		15		206		20		75		14		8		0		52		36		444
SAN JUAN 32-9 UNIT #215		14468	SJ 32-9		32N09W10		1		17		694		15		58		6		6		0		46		33		503
SAN JUAN 32-9 UNIT #217		14275	SJ 32-9		32N09W16		1		18		887		17		64		6		7		0		51		37		482
SAN JUAN 32-9 UNIT #220		14000	SJ 32-9		31N10W11		1		27		3,517		78		296		23		33		0		241		163		594
SAN JUAN 32-9 UNIT #221		12458	SJ 32-9		31N10W11		1		4		26		1		2		1		0		0		1		1		595
SAN JUAN 32-9 UNIT #222		12556	SJ 32-9		31N10W12		1		2		17		0		1		0		0		0		1		1		596
SAN JUAN 32-9 UNIT #223		12459	SJ 32-9		31N10W12		1		11		191		4		16		3		2		0		12		9		597
SAN JUAN 32-9 UNIT #226		14469	SJ 32-9		32N09W32		1		16		1,192		26		100		9		11		0		81		62		445
SAN JUAN 32-9 UNIT #228		14440	SJ 32-9		32N09W36		1		6		228		5		19		2		2		0		15		13		446
SAN JUAN 32-9 UNIT #229		14267	SJ 32-9		32N10W36		1		24		2,624		58		221		17		25		0		179		126		447
SAN JUAN 32-9 UNIT #230		14470	SJ 32-9		32N10W36		1		21		544		12		46		6		5		0		35		23		448
SAN JUAN 32-9 UNIT #235		14450	SJ 32-9		32N09W36		1		18		1,613		36		136		11		15		0		110		81		449
SAN JUAN 32-9 UNIT #250		14268	SJ 32-9		31N09W04		1		22		2,910		64		245		19		27		0		199		144		531
SAN JUAN 32-9 UNIT #251		14269	SJ 32-9		31N09W04		1		24		3,374		74		284		21		32		0		231		163		478
SAN JUAN 32-9 UNIT #252		14471	SJ 32-9		31N09W05		1		22		2,135		47		180		14		20		0		145		104		479
SAN JUAN 32-9 UNIT #253		14472	SJ 32-9		31N09W05		1		16		1,387		31		117		10		13		0		94		72		504
SAN JUAN 32-9 UNIT #254		14473	SJ 32-9		31N09W06		1		16		1,184		26		100		9		11		0		80		62		483
SAN JUAN 32-9 UNIT #255		14474	SJ 32-9		31N09W06		1		17		1,378		30		116		10		13		0		93		70		489
SAN JUAN 32-9 UNIT #257		14475	SJ 32-9		31N09W08		1		22		781		17		66		7		7		0		51		34		545
SAN JUAN 32-9 UNIT #258		14476	SJ 32-9		31N09W09		1		26		1,968		43		166		14		18		0		133		88		506
SAN JUAN 32-9 UNIT #259		14477	SJ 32-9		31N09W09		1		25		1,447		32		122		11		14		0		97		64		490
SAN JUAN 32-9 UNIT #260		14270	SJ 32-9		31N09W10		1		16		1,185		26		100		9		11		0		80		62		484
SAN JUAN 32-9 UNIT #261		14271	SJ 32-9		31N09W10		1		2		14		0		1		0		0		0		1		1		491
SAN JUAN 32-9 UNIT #262		14478	SJ 32-9		31N09W15		1		25		853		19		72		8		8		0		56		35		492
SAN JUAN 32-9 UNIT #263		14479	SJ 32-9		31N09W15		1		19		803		18		68		7		8		0		53		37		485
SAN JUAN 32-9 UNIT #264		14480	SJ 32-9		31N09W17		1		25		851		19		72		8		8		0		55		35		514
SAN JUAN 32-9 UNIT #268		14482	SJ 32-9		31N10W01		1		18		1,035		23		87		8		10		0		69		51		535
SAN JUAN 32-9 UNIT #269		14483	SJ 32-9		31N10W01		1		16		777		17		65		7		7		0		52		38		518
SAN JUAN 32-9 UNIT #270		14484	SJ 32-9		32N09W18		1		30		3,809		84		321		24		36		0		261		172		519
SAN JUAN 32-9 UNIT #271		14485	SJ 32-9		32N09W18		1		24		4,474		99		377		27		42		0		308		223		520
SAN JUAN 32-9 UNIT #273		14486	SJ 32-9		32N09W19		1		20		2,835		63		239		18		27		0		194		145		521
SAN JUAN 32-9 UNIT #274		14272	SJ 32-9		32N09W28		1		17		1,804		40		152		12		17		0		123		94		575
SAN JUAN 32-9 UNIT #275		14487	SJ 32-9		32N09W29		1		20		1,597		35		135		11		15		0		108		79		536

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 24 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 32-9 UNIT #276		14344	SJ 32-9		32N09W27		1		22		2,222		49		187		15		21		0		151		108		579
SAN JUAN 32-9 UNIT #277		14488	SJ 32-9		32N09W30		1		17		1,776		39		150		12		17		0		121		93		516
SAN JUAN 32-9 UNIT #278		14489	SJ 32-9		32N09W31		1		19		1,614		36		136		11		15		0		110		80		515
SAN JUAN 32-9 UNIT #279		14490	SJ 32-9		32N09W31		1		21		2,100		46		177		14		20		0		143		103		528
SAN JUAN 32-9 UNIT #281		14491	SJ 32-9		32N09W32		1		30		2,285		50		193		16		21		0		155		98		470
SAN JUAN 32-9 UNIT #282		14345	SJ 32-9		32N09W33		1		23		2,037		45		172		14		19		0		138		98		522
SAN JUAN 32-9 UNIT #283		14346	SJ 32-9		32N09W33		1		31		4,039		89		340		26		38		0		277		180		480
SAN JUAN 32-9 UNIT #284		14492	SJ 32-9		32N10W13		1		20		3,177		70		268		20		30		0		218		165		523
SAN JUAN 32-9 UNIT #285		14493	SJ 32-9		32N10W13		1		18		2,981		66		251		18		28		0		205		158		537
SAN JUAN 32-9 UNIT #286		14494	SJ 32-9		32N10W14		1		23		3,230		71		272		20		30		0		222		160		493
SAN JUAN 32-9 UNIT #287		14495	SJ 32-9		32N10W14		1		21		3,090		68		260		19		29		0		212		156		533
SAN JUAN 32-9 UNIT #288		14496	SJ 32-9		32N10W23		1		16		2,543		56		214		16		24		0		175		138		534
SAN JUAN 32-9 UNIT #289		14497	SJ 32-9		32N10W23		1		29		4,371		97		368		27		41		0		300		202		524
SAN JUAN 32-9 UNIT #291		14498	SJ 32-9		32N10W24		1		20		2,036		45		172		14		19		0		139		103		505
SAN JUAN 32-9 UNIT #292		14499	SJ 32-9		32N10W25		1		23		3,038		67		256		19		28		0		208		148		525
SAN JUAN 32-9 UNIT #293		14500	SJ 32-9		32N10W25		1		18		2,001		44		169		13		19		0		137		103		494
SAN JUAN 32-9 UNIT #294		14501	SJ 32-9		32N10W26		1		18		1,625		36		137		11		15		0		110		82		529
SAN JUAN 32-9 UNIT #295		14502	SJ 32-9		32N10W26		1		17		1,529		34		129		11		14		0		104		79		526
SAN JUAN 32-9 UNIT #296		13928	SJ 32-9		32N10W35		1		12		704		16		59		6		7		0		47		38		560
SAN JUAN 32-9 UNIT #297		13929	SJ 32-9		32N10W35		1		5		128		3		11		1		1		0		8		7		527
SAN JUAN 32-9 UNIT #300		14503	SJ 32-9		32N10W11		1		21		3,849		85		324		23		36		0		265		198		507
SAN JUAN 32-9 UNIT #301		14504	SJ 32-9		32N10W12		1		31		4,609		102		388		29		43		0		316		207		508
SAN JUAN 32-9 UNIT #302		15548	SJ 32-9		32N09W09		1		19		1,143		25		96		9		11		0		77		55		658
SEYMOUR #720		14357	NON-UNIT		31N09W23		1		19		1,411		103		394		35		44		0		315		231		540
STATE GAS COM AA #1		14441	NON-UNIT		30N08W36		1		22		1,126		22		85		8		9		0		67		46		542
YAGER N COM #5 FRT.PI		4873	NON-UNIT		31N07W03		1		17		788		16		63		6		7		0		49		36		450
TOTAL PROVED DEVELOPED: 320-Acre New Mexico							612				820,588		62,531		238,637		21,883		26,527		0		190,227		130,977
TOTAL PROVED DEVELOPED NEW: MEXICO							861				1,083,954		91,029		347,393		31,415		38,616		0		277,361		195,536
PROVED UNDEVELOPED RESERVES
BLANCO #201A		5609	NON-UNIT		31N08W35		1		18		1,200		177		676		61		75		117		423		265		1168
BLANCO #330S		5559	NON-UNIT		31N08W05		1		18		1,200		88		334		31		37		58		209		132		1132
BONDS COM #100S		5140	NON-UNIT		32N10W15		1		20		1,800		90		342		28		38		38		238		156		1006
EAGLE #750S		5995	NON-UNIT		32N09W16		1		19		1,300		25		94		8		10		15		61		33		1179
FEDERAL G #4A COM.PI		5796	SJ 32-7		31N07W10		1		18		1,300		217		827		72		92		130		532		327		1129
FEDERAL G COM #5 FRT.PI		6009	NON-UNIT		31N07W03		1		19		1,300		27		103		9		11		16		67		38		1128
FRT 06-32N-7W		6011	SJ 32-7		31N07W06		1		18		1,300		217		827		72		92		130		532		312		1170
FRT 13-32N-10W		5855	SJ 32-9		32N10W13		1		22		1,800		36		138		11		15		15		96		49		1096
FRT 17-31N-8W (160-ACRE)		5596	NON-UNIT		31N08W17		1		20		1,200		88		336		31		37		58		210		110		1135
FRT 18-30N-7W (160-ACRE)		6048	NEBU		30N07W18		1		18		800		6		24		2		3		5		14		7		1062

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 25 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
FRT 18-32N-7W		740	SJ 32-7		32N07W18		1		20		1,700		283		1,081		91		120		130		740		441		1172
FRT 22-30N-7W		6051	SJ 30-6		30N07W22		1		18		800		40		152		15		17		38		82		39		859
FRT 23-32N-10W (160-ACRE)		5916	SJ 32-9		32N10W23		1		22		1,800		36		138		11		15		15		96		49		1106
FRT 24-31N-8W		5603	SJ 32-8		31N08W24		1		18		1,200		137		522		47		58		89		328		202		1158
FRT 24-32N-10W (160-ACRE)		5911	SJ 32-9		32N10W24		1		22		1,800		36		138		11		15		15		96		50		1107
FRT 25-31N-7W (160-ACRE)		6012	NEBU		31N07W25		1		20		1,300		10		39		3		4		5		26		14		830
FRT 25-31N-8W (160-ACRE)		5272	NEBU		31N08W25		1		20		1,200		9		36		3		4		5		23		12		1064
FRT 25-32N-10W (160-ACRE)		5925	SJ 32-9		32N10W25		1		22		1,800		36		138		11		15		15		96		49		1109
FRT 26-31N-7W (160-ACRE)		6015	NEBU		31N07W26		1		20		1,300		10		39		3		4		5		26		14		1049
FRT 27-31N-7W (160-ACRE)		6021	NEBU		31N07W27		1		20		1,300		10		39		3		4		5		26		13		1050
FRT 29-32N-7W		5811	SJ 32-7		32N07W29		1		20		1,700		283		1,081		91		120		130		740		462		1175
FRT 31-31N-7W (160-ACRE)		6014	NEBU		31N07W31		1		20		1,300		10		39		3		4		5		26		13		1055
FRT 31-32N-7W (160-ACRE.PI)		5809	SJ 32-7		32N07W31		1		20		1,700		283		1,081		91		120		130		740		458		1130
FRT 32-31N-7W		5801	NEBU		31N07W32		1		18		1,300		10		39		3		4		5		26		15		1056
FRT 32-32N-9W		5974	SJ 32-9		32N09W32		1		20		1,300		26		100		9		11		15		65		34		1118
FRT 33-31N-7W (160-ACRE)		6024	NEBU		31N07W33		1		20		1,300		10		39		3		4		5		26		14		1058
FRT 33-31N-7W (160-ACRE)		6025	NEBU		31N07W33		1		20		1,300		10		39		3		4		5		26		14		1057
FRT 35-32N-10W (160-ACRE)		5853	SJ 32-9		32N10W35		1		23		1,800		36		138		11		15		15		96		48		1123
FRT 36-30N-8W (160-ACRE)		10782	NON-UNIT		30N08W36		1		21		900		18		68		6		8		15		39		16		1205
FRT 36-32N-10W (160-ACRE)		5933	SJ 32-9		32N10W36		1		22		1,800		36		138		11		15		15		96		49		1125
HEIZER #100S		5114	NON-UNIT		32N10W15		1		21		1,800		1		3		0		0		0		2		1		1005
JACQUEZ #331S		5582	NON-UNIT		31N08W07		1		19		1,200		92		350		30		39		56		225		130		1136
NE BLANCO UNIT #401A		5317	NEBU		30N07W09		1		19		800		6		24		2		3		5		14		6		834
NE BLANCO UNIT #402A		5145	NEBU		30N07W05		1		17		800		6		24		2		3		5		14		7		1007
NE BLANCO UNIT #403A		5191	NEBU		30N07W09		1		17		800		6		24		2		3		5		14		8		767
NE BLANCO UNIT #404A		6026	NEBU		31N07W34		1		19		1,300		10		39		3		4		5		26		14		1060
NE BLANCO UNIT #409A		5273	NEBU		30N07W10		1		20		800		6		24		2		3		5		14		6		835
NE BLANCO UNIT #411A		5200	NEBU		30N07W10		1		17		800		6		24		2		3		5		14		8		768
NE BLANCO UNIT #414A		6023	NEBU		31N07W30		1		20		1,300		10		39		3		4		5		26		14		1054
NE BLANCO UNIT #415A		5207	NEBU		30N07W02		1		17		800		6		24		2		3		5		14		8		769
NE BLANCO UNIT #416A		5282	NEBU		31N07W21		1		20		1,300		10		39		3		4		5		26		13		1063
NE BLANCO UNIT #417A		5274	NEBU		30N07W02		1		19		800		6		24		2		3		5		14		6		832
NE BLANCO UNIT #419A		6031	NEBU		30N07W03		1		18		800		6		24		2		3		5		14		7		824
NE BLANCO UNIT #420A		5279	NEBU		31N07W28		1		20		1,300		10		39		3		4		5		26		13		1065
NE BLANCO UNIT #421A		6033	NEBU		30N07W04		1		18		800		6		24		2		3		5		14		7		825
NE BLANCO UNIT #423A		6037	NEBU		30N07W08		1		19		800		6		24		2		3		5		14		7		827
NE BLANCO UNIT #424A		6034	NEBU		30N07W04		1		18		800		6		24		2		3		5		14		7		1035
NE BLANCO UNIT #425A		6038	NEBU		30N07W08		1		18		800		6		24		2		3		5		14		7		826
NE BLANCO UNIT #427A		5148	NEBU		30N07W16		1		17		800		6		24		2		3		5		14		7		770
NE BLANCO UNIT #428A		6018	NEBU		31N07W24		1		19		1,300		10		39		3		4		5		26		14		1048
NE BLANCO UNIT #429A		5150	NEBU		30N07W17		1		17		800		6		24		2		3		5		14		7		771
NE BLANCO UNIT #431A		6046	NEBU		30N07W17		1		18		800		6		24		2		3		5		14		7		829

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 26 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
NE BLANCO UNIT #432A		5160	NEBU		30N07W07		1		17		800		6		24		2		3		5		14		8		1014
NE BLANCO UNIT #434A		6017	NEBU		31N07W23		1		19		1,300		10		39		3		4		5		26		14		1045
NE BLANCO UNIT #439A		5169	NEBU		30N08W13		1		18		900		7		27		2		3		5		16		10		1016
NE BLANCO UNIT #444A		6016	NEBU		31N07W23		1		20		1,300		10		39		3		4		5		26		14		1046
NE BLANCO UNIT #451A		6035	NEBU		30N07W06		1		18		800		6		24		2		3		5		14		7		1037
NE BLANCO UNIT #452A		5797	NEBU		31N07W15		1		19		1,300		10		39		3		4		5		26		15		1041
NE BLANCO UNIT #453A		6036	NEBU		30N07W06		1		18		800		6		24		2		3		5		14		7		1036
NE BLANCO UNIT #455A		5190	NEBU		31N07W31		1		18		1,300		10		39		3		4		5		26		16		1021
NE BLANCO UNIT #457		6022	NEBU		31N07W30		1		21		1,300		10		39		3		4		5		26		12		1066
NE BLANCO UNIT #459A		5800	NEBU		31N07W19		1		19		1,300		10		39		3		4		5		26		15		1043
NE BLANCO UNIT #461A		5182	NEBU		30N07W07		1		17		800		6		24		2		3		5		14		8		1024
NE BLANCO UNIT #465A		5243	NEBU		30N08W01		1		18		900		7		27		2		3		5		16		9		1027
NE BLANCO UNIT #466A		6027	NEBU		31N07W34		1		19		1,300		10		39		3		4		5		26		14		1059
NE BLANCO UNIT #467A		5269	NEBU		30N08W12		1		20		900		7		27		2		3		5		16		7		1061
NE BLANCO UNIT #469A		6007	NEBU		30N08W13		1		20		900		7		27		2		3		5		16		7		1040
NE BLANCO UNIT #472A		5803	NEBU		31N07W29		1		19		1,300		10		39		3		4		5		26		15		1052
NE BLANCO UNIT #473A		5281	NEBU		31N08W36		1		21		1,200		9		36		3		4		5		23		11		1067
NE BLANCO UNIT #475A		1787	NEBU		30N07W19		1		20		800		6		24		2		3		5		14		6		837
NE BLANCO UNIT #476A		5799	NEBU		31N07W22		1		19		1,300		10		39		3		4		5		26		15		1044
NE BLANCO UNIT #479A		1785	NEBU		30N07W20		1		20		800		6		24		2		3		5		14		6		839
NE BLANCO UNIT #481A		5153	NEBU		31N07W36		1		18		1,300		10		39		3		4		5		26		16		773
NE BLANCO UNIT #485A		6032	NEBU		30N07W03		1		18		800		6		24		2		3		5		14		7		823
NE BLANCO UNIT #487A		5201	NEBU		31N07W35		1		18		1,300		10		39		3		4		5		26		16		1030
NE BLANCO UNIT #488A		6019	NEBU		31N07W24		1		19		1,300		10		39		3		4		5		26		14		1047
NE BLANCO UNIT #489A		5792	NEBU		31N07W12		1		19		1,300		10		39		3		4		5		26		15		1039
NE BLANCO UNIT #492A		5795	NEBU		31N07W12		1		19		1,300		10		39		3		4		5		26		15		1038
NE BLANCO UNIT #494A		6020	NEBU		31N07W27		1		20		1,300		10		39		3		4		5		26		13		1051
NE BLANCO UNIT #505A		1784	NEBU		30N07W21		1		20		800		6		24		2		3		5		14		6		838
NORDHAUS #716S		5839	NON-UNIT		31N09W13		1		18		800		58		222		23		25		58		117		57		1131
SAN JUAN 29-5 UNIT #225A		5111	SJ 29-5		29N05W06		1		15		600		78		296		32		33		100		131		67		758
SAN JUAN 29-6 UNIT #206A		5409	SJ 29-6		29N06W04		1		18		800		97		369		37		41		93		198		99		904
SAN JUAN 29-6 UNIT #211A		6094	SJ 29-6		29N06W20		1		18		800		97		369		37		41		93		198		99		923
SAN JUAN 29-6 UNIT #219A		6079	SJ 29-6		29N06W10		1		17		800		97		369		37		41		93		198		106		910
SAN JUAN 29-6 UNIT #220A		6081	SJ 29-6		29N06W11		1		17		800		97		369		37		41		93		198		114		912
SAN JUAN 29-6 UNIT #221A		6082	SJ 29-6		29N06W11		1		17		800		97		369		37		41		93		198		109		911
SAN JUAN 29-6 UNIT #222A		6083	SJ 29-6		29N06W12		1		17		800		97		369		37		41		93		198		104		914
SAN JUAN 29-6 UNIT #223A		6084	SJ 29-6		29N06W12		1		17		800		97		369		37		41		93		198		104		913
SAN JUAN 29-6 UNIT #224A		6085	SJ 29-6		29N06W13		1		18		800		97		369		37		41		93		198		102		916
SAN JUAN 29-6 UNIT #226A		6088	SJ 29-6		29N06W14		1		18		800		97		369		37		41		93		198		102		917
SAN JUAN 29-6 UNIT #257A		5645	SJ 29-6		29N06W09		1		17		800		97		369		37		41		93		198		107		907
SAN JUAN 29-6 UNIT #258A		6089	SJ 29-6		29N06W16		1		18		800		97		369		37		41		93		198		102		920
SAN JUAN 29-6 UNIT #262A		6096	SJ 29-6		29N06W21		1		18		800		97		369		37		41		93		198		101		925

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 27 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 29-7 UNIT #507S		6070	SJ 29-7		29N07W13		1		16		600		63		239		25		27		78		110		48		894
SAN JUAN 29-7 UNIT #520S		6062	SJ 29-7		29N07W08		1		16		600		63		239		25		27		78		110		51		888
SAN JUAN 29-7 UNIT #521S		6069	SJ 29-7		29N07W13		1		17		600		63		239		25		27		78		110		47		895
SAN JUAN 29-7 UNIT #544S		6053	SJ 29-7		29N07W04		1		17		600		63		239		25		27		78		110		47		884
SAN JUAN 29-7 UNIT #545S		6068	SJ 29-7		29N07W12		1		16		600		63		239		25		27		78		110		49		892
SAN JUAN 29-7 UNIT #552S		6067	SJ 29-7		29N07W12		1		17		600		63		239		25		27		78		110		47		893
SAN JUAN 29-7 UNIT #553S		1546	SJ 29-7		29N07W14		1		18		600		63		239		25		27		78		110		43		901
SAN JUAN 29-7 UNIT #562S		6071	SJ 29-7		29N07W24		1		16		600		63		239		25		27		78		110		49		896
SAN JUAN 29-7 UNIT #577S		12177	SJ 29-7		29N07W35		1		15		600		42		160		18		18		58		66		30		1206
SAN JUAN 29-7 UNIT #580S		6052	SJ 29-7		29N07W01		1		17		600		63		239		25		27		78		110		47		881
SAN JUAN 30-5 UNIT #211A		5783	SJ 30-5		30N05W31		1		19		1,600		282		1,076		89		120		135		732		461		986
SAN JUAN 30-5 UNIT #220A		8014	SJ 30-5		30N05W08		1		20		1,600		282		1,076		89		120		135		732		429		1203
SAN JUAN 30-5 UNIT #224A		5719	SJ 30-5		30N05W17		1		19		1,600		282		1,076		89		120		135		732		453		966
SAN JUAN 30-5 UNIT #227A		5744	SJ 30-5		30N05W28		1		19		1,600		282		1,076		89		120		135		732		457		981
SAN JUAN 30-5 UNIT #228A		5745	SJ 30-5		30N05W28		1		20		1,600		282		1,076		89		120		135		732		446		980
SAN JUAN 30-5 UNIT #233A		5787	SJ 30-5		30N05W33		1		19		1,600		282		1,076		89		120		135		732		461		988
SAN JUAN 30-5 UNIT #239A		5716	SJ 30-5		30N05W15		1		19		1,600		282		1,076		89		120		135		732		453		964
SAN JUAN 30-5 UNIT #246A		5741	SJ 30-5		30N05W26		1		19		1,600		282		1,076		89		120		135		732		453		978
SAN JUAN 30-5 UNIT #249A		5740	SJ 30-5		30N05W23		1		19		1,600		282		1,076		89		120		135		732		461		976
SAN JUAN 30-5 UNIT #255A		5714	SJ 30-5		30N05W14		1		19		1,600		282		1,076		89		120		135		732		453		962
SAN JUAN 30-5 UNIT #257A		5712	SJ 30-5		30N05W11		1		20		1,600		282		1,076		89		120		135		732		446		959
SAN JUAN 30-5 UNIT #258A		5715	SJ 30-5		30N05W14		1		19		1,600		282		1,076		89		120		135		732		453		961
SAN JUAN 30-5 UNIT #261A		5713	SJ 30-5		30N05W11		1		19		1,600		282		1,076		89		120		135		732		457		958
SAN JUAN 30-5 UNIT #262A		5791	SJ 30-5		30N05W12		1		20		1,600		282		1,076		89		120		135		732		446		960
SAN JUAN 30-6 UNIT #400S		6042	SJ 30-6		30N07W14		1		18		800		40		152		15		17		38		82		41		845
SAN JUAN 30-6 UNIT #401S		6041	SJ 30-6		30N07W13		1		19		800		40		152		15		17		38		82		38		876
SAN JUAN 30-6 UNIT #403S		5435	SJ 30-6		30N06W09		1		18		1,000		50		191		18		21		38		113		67		777
SAN JUAN 30-6 UNIT #406S		6043	SJ 30-6		30N07W15		1		18		800		40		152		15		17		38		82		41		861
SAN JUAN 30-6 UNIT #407S		5527	SJ 30-6		30N06W16		1		19		1,000		50		191		18		21		38		113		60		849
SAN JUAN 30-6 UNIT #409S		5521	SJ 30-6		30N07W25		1		17		800		40		152		15		17		38		82		46		780
SAN JUAN 30-6 UNIT #410S		5539	SJ 30-6		30N06W26		1		20		1,000		50		191		18		21		38		113		58		864
SAN JUAN 30-6 UNIT #416S		5519	SJ 30-6		30N07W24		1		17		800		40		152		15		17		38		82		46		783
SAN JUAN 30-6 UNIT #417S		5429	SJ 30-6		30N07W25		1		17		800		40		152		15		17		38		82		43		762
SAN JUAN 30-6 UNIT #418S		5522	SJ 30-6		30N07W26		1		17		800		40		152		15		17		38		82		43		784
SAN JUAN 30-6 UNIT #419S		6028	SJ 30-6		30N07W11		1		19		800		40		152		15		17		38		82		38		842
SAN JUAN 30-6 UNIT #420S		6039	SJ 30-6		30N07W12		1		19		800		40		152		15		17		38		82		38		844
SAN JUAN 30-6 UNIT #435S		5484	SJ 30-6		30N06W13		1		19		1,000		50		191		18		21		38		113		64		789
SAN JUAN 30-6 UNIT #436S		5525	SJ 30-6		30N06W15		1		19		1,000		50		191		18		21		38		113		60		848
SAN JUAN 30-6 UNIT #439S		5524	SJ 30-6		30N06W14		1		19		1,000		50		191		18		21		38		113		63		846
SAN JUAN 30-6 UNIT #440S		5526	SJ 30-6		30N06W15		1		19		1,000		50		191		18		21		38		113		60		847
SAN JUAN 30-6 UNIT #441S		5495	SJ 30-6		30N06W31		1		19		1,000		50		191		18		21		38		113		61		792
SAN JUAN 30-6 UNIT #453		5528	SJ 30-6		30N06W17		1		19		1,000		50		191		18		21		38		113		60		851

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 28 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 30-6 UNIT #454S		5529	SJ 30-6		30N06W17		1		20		1,000		50		191		18		21		38		113		56		850
SAN JUAN 30-6 UNIT #455S		5530	SJ 30-6		30N06W18		1		20		1,000		50		191		18		21		38		113		56		853
SAN JUAN 30-6 UNIT #456S		5531	SJ 30-6		30N06W18		1		20		1,000		50		191		18		21		38		113		56		852
SAN JUAN 30-6 UNIT #458S		5532	SJ 30-6		30N06W19		1		20		1,000		50		191		18		21		38		113		56		854
SAN JUAN 30-6 UNIT #459S		5533	SJ 30-6		30N06W20		1		20		1,000		50		191		18		21		38		113		57		855
SAN JUAN 30-6 UNIT #462A		6040	SJ 30-6		30N07W12		1		18		800		40		152		15		17		38		82		41		843
SAN JUAN 30-6 UNIT #464S		5506	SJ 30-6		30N07W14		1		17		800		40		152		15		17		38		82		43		801
SAN JUAN 30-6 UNIT #465S		5507	SJ 30-6		30N07W15		1		17		800		40		152		15		17		38		82		43		802
SAN JUAN 30-6 UNIT #467A COM FRT		6049	NEBU		30N07W22		1		18		800		6		24		2		3		5		14		7		822
SAN JUAN 30-6 UNIT #470S		5534	SJ 30-6		30N06W21		1		20		1,000		50		191		18		21		38		113		57		856
SAN JUAN 30-6 UNIT #472		5536	SJ 30-6		30N06W22		1		20		1,000		50		191		18		21		38		113		57		857
SAN JUAN 30-6 UNIT #473S		5535	SJ 30-6		30N06W22		1		20		1,000		50		191		18		21		38		113		57		858
SAN JUAN 30-6 UNIT #474S		5540	SJ 30-6		30N06W27		1		20		1,000		50		191		18		21		38		113		58		866
SAN JUAN 30-6 UNIT #476S		5541	SJ 30-6		30N06W28		1		19		1,000		50		191		18		21		38		113		61		863
SAN JUAN 30-6 UNIT #479S		5542	SJ 30-6		30N06W29		1		20		1,000		50		191		18		21		38		113		58		869
SAN JUAN 30-6 UNIT #480S		5543	SJ 30-6		30N06W30		1		19		1,000		50		191		18		21		38		113		60		862
SAN JUAN 30-6 UNIT #482S		5494	SJ 30-6		30N06W31		1		19		1,000		50		191		18		21		38		113		61		805
SAN JUAN 30-6 UNIT #487S		5537	SJ 30-6		30N06W23		1		19		1,000		50		191		18		21		38		113		60		860
SAN JUAN 30-6 UNIT #494S		5498	SJ 30-6		30N06W33		1		19		1,000		50		191		18		21		38		113		62		812
SAN JUAN 30-6 UNIT #495S		5497	SJ 30-6		30N06W33		1		19		1,000		50		191		18		21		38		113		62		813
SAN JUAN 30-6 UNIT #501SR		5496	SJ 30-6		30N06W32		1		20		1,000		50		191		18		21		38		113		58		815
SAN JUAN 31 FEDERAL 3 #2A		5942	NON-UNIT		31N09W03		1		18		800		119		453		46		50		117		240		120		1169
SAN JUAN 31-6 UNIT #207A		5615	SJ 31-6		30N06W06		1		18		1,000		107		409		40		45		84		240		137		937
SAN JUAN 31-6 UNIT #208A		5614	SJ 31-6		30N06W06		1		20		1,000		107		409		40		45		84		240		123		938
SAN JUAN 31-6 UNIT #209A		6030	SJ 31-6		30N07W01		1		18		800		86		327		33		36		84		174		87		933
SAN JUAN 31-6 UNIT #224A		708	SJ 31-6		31N06W31		1		18		1,300		139		531		47		59		84		342		215		1164
SAN JUAN 31-6 UNIT #225A		5611	SJ 31-6		31N06W31		1		18		1,300		139		531		47		59		84		342		215		1163
SAN JUAN 31-6 UNIT #232A		6029	SJ 31-6		30N07W01		1		18		800		86		327		33		36		84		174		87		934
SAN JUAN 32-7 UNIT #222A		6008	SJ 32-7		32N07W20		1		19		1,700		256		978		81		109		117		672		442		1180
SAN JUAN 32-7 UNIT #233A		5819	SJ 32-7		32N07W20		1		20		1,700		283		1,081		91		120		130		740		470		1173
SAN JUAN 32-8 UNIT #207A		5598	SJ 32-8		31N08W22		1		18		1,200		137		522		47		58		89		328		202		1152
SAN JUAN 32-8 UNIT #213A		6003	SJ 32-8		32N08W22		1		21		2,000		228		870		71		97		89		613		375		1154
SAN JUAN 32-8 UNIT #259		6004	SJ 32-8		32N08W22		1		21		2,000		228		870		71		97		89		613		372		1153
SAN JUAN 32-8 UNIT #261A		6507	SJ 32-8		32N08W17		1		21		2,000		228		870		71		97		89		613		381		1202
SAN JUAN 32-9 UNIT #105S		5956	SJ 32-9		31N09W08		1		19		800		16		61		6		7		15		33		15		1084
SAN JUAN 32-9 UNIT #215S		5992	SJ 32-9		32N09W10		1		19		1,300		26		100		9		11		15		65		35		1089
SAN JUAN 32-9 UNIT #220S		5897	SJ 32-9		31N10W11		1		17		600		12		46		5		5		15		21		8		1090
SAN JUAN 32-9 UNIT #221S		5890	SJ 32-9		31N10W11		1		17		600		12		46		5		5		15		21		9		1091
SAN JUAN 32-9 UNIT #226S		5970	SJ 32-9		32N09W32		1		20		1,300		26		100		9		11		15		65		34		1119
SAN JUAN 32-9 UNIT #252S		5949	SJ 32-9		31N09W05		1		19		800		16		61		6		7		15		33		15		1080
SAN JUAN 32-9 UNIT #253S		5952	SJ 32-9		31N09W05		1		19		800		16		61		6		7		15		33		15		1079
SAN JUAN 32-9 UNIT #254S		5953	SJ 32-9		31N09W06		1		17		800		16		61		6		7		15		33		19		1082

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 29 of 30

WILLIAMS PRODUCTION CO.
FRUITLAND COAL RESERVES
UNDERLYING PROPERTIES/WILLIAMS COAL SEAM GAS ROYALTY TRUST
RESERVES AND ECONOMIC SUMMARY
PROVED RESERVES AS OF DECEMBER 31, 2004

														REVENUE		OPER.		ADV&SEV				BFIT NET		10% DISC
								LIFE		GROSS GAS		NET GAS		TO INT.		EXPENSE		TAXES		CAPITAL		REVENUE		REVENUE		SEQ
LEASE NAME	PROPID		UNIT	LOCATION		WELLS		YEARS		MMCF		MMCF		M$		M$		M$		M$		M$		M$		NUM
SAN JUAN 32-9 UNIT #255S		5955	SJ 32-9		31N09W06		1		19		800		16		61		6		7		15		33		15		1081
SAN JUAN 32-9 UNIT #257S		5957	SJ 32-9		31N09W08		1		17		800		16		61		6		7		15		33		18		1083
SAN JUAN 32-9 UNIT #258S		5958	SJ 32-9		31N09W09		1		19		800		16		61		6		7		15		33		15		1086
SAN JUAN 32-9 UNIT #259S		5959	SJ 32-9		31N09W09		1		19		800		16		61		6		7		15		33		15		1085
SAN JUAN 32-9 UNIT #260S		5960	SJ 32-9		31N09W10		1		19		800		16		61		6		7		15		33		15		1088
SAN JUAN 32-9 UNIT #261S		5961	SJ 32-9		31N09W10		1		18		800		16		61		6		7		15		33		17		1087
SAN JUAN 32-9 UNIT #262S		5834	SJ 32-9		31N09W15		1		18		800		16		61		6		7		15		33		16		1099
SAN JUAN 32-9 UNIT #270S		5991	SJ 32-9		32N09W18		1		17		1,300		26		100		9		11		15		65		42		1103
SAN JUAN 32-9 UNIT #273S		5980	SJ 32-9		32N09W19		1		18		1,300		26		100		9		11		15		65		40		1104
SAN JUAN 32-9 UNIT #274S		5962	SJ 32-9		32N09W28		1		18		1,300		26		100		9		11		15		65		40		1113
SAN JUAN 32-9 UNIT #275S		5965	SJ 32-9		32N09W29		1		18		1,300		26		100		9		11		15		65		41		1114
SAN JUAN 32-9 UNIT #276S		5964	SJ 32-9		32N09W27		1		18		1,300		26		100		9		11		15		65		41		1112
SAN JUAN 32-9 UNIT #278S		5967	SJ 32-9		32N09W31		1		20		1,300		26		100		9		11		15		65		34		1117
SAN JUAN 32-9 UNIT #279S		5968	SJ 32-9		32N09W31		1		20		1,300		26		100		9		11		15		65		34		1116
SAN JUAN 32-9 UNIT #286S		5914	SJ 32-9		32N10W14		1		20		1,800		36		138		11		15		15		96		61		1098
SAN JUAN 32-9 UNIT #287S		5915	SJ 32-9		32N10W14		1		20		1,800		36		138		11		15		15		96		61		1097
SAN JUAN 32-9 UNIT #289S		5918	SJ 32-9		32N10W23		1		20		1,800		36		138		11		15		15		96		61		1105
SAN JUAN 32-9 UNIT #293S		5927	SJ 32-9		32N10W25		1		20		1,800		36		138		11		15		15		96		61		1108
SAN JUAN 32-9 UNIT #294S		5930	SJ 32-9		32N10W26		1		20		1,800		36		138		11		15		15		96		62		1111
SAN JUAN 32-9 UNIT #295S		5931	SJ 32-9		32N10W26		1		20		1,800		36		138		11		15		15		96		62		1110
SAN JUAN 32-9 UNIT #297S		5854	SJ 32-9		32N10W35		1		21		1,800		36		138		11		15		15		96		56		1122
SAN JUAN 32-9 UNIT #300S		5856	SJ 32-9		32N10W11		1		20		1,800		36		138		11		15		15		96		62		1092
SEYMOUR #720S		5837	NON-UNIT		31N09W23		1		19		800		58		223		23		25		58		117		50		1134
TOTAL PROVED UNDEVELOPED: 160-Acre New Mexico							201				224,299		13,337		50,899		4,528		5,658		8,708		32,006		18,565
FRT 18-30N-7W		6047	NEBU		30N07W18		1		18		800		6		24		2		3		5		14		7		1042
FRT 18-31N-7W (PI)		6010	SJ 32-7		31N07W18		1		18		1,300		217		827		72		92		130		532		314		1162
SAN JUAN 30-5 UNIT #225A		5773	SJ 30-5		30N05W29		1		19		1,600		282		1,076		89		120		135		732		450		982
SAN JUAN 30-5 UNIT #237R		6123	SJ 30-5		30N05W16		1		19		1,600		819		3,125		253		347		382		2,143		1,353		1201
TOTAL PROVED UNDEVELOPED: 320-Acre New Mexico							4				5,300		1,323		5,051		416		561		653		3,420		2,124
TOTAL PROVED UNDEVELOPED: NEW MEXICO							205				229,599		14,661		55,950		4,944		6,219		9,361		35,426		20,689
TOTAL PROVED RESERVES: NEW MEXICO							1066				1,313,553		105,689		403,343		36,359		44,836		9,361		312,787		216,226
TOTAL PROVED RESERVES							1087				1,361,543		113,752		435,713		36,359		44,836		9,361		345,157		237,990

DATE: 12/31/2004 This page is a part of a Miller and Lents, Ltd. report and should not be used independently of the report. TABLE 4
Page 30 of 30