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<SEC-DOCUMENT>0001144204-05-024924.txt : 20050812
<SEC-HEADER>0001144204-05-024924.hdr.sgml : 20050812
<ACCEPTANCE-DATETIME>20050812144304
ACCESSION NUMBER:		0001144204-05-024924
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050812
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050812
DATE AS OF CHANGE:		20050812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEXCO ENERGY CORP
		CENTRAL INDEX KEY:			0000066418
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				840627918
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31785
		FILM NUMBER:		051020918

	BUSINESS ADDRESS:	
		STREET 1:		214 W TEXAS AVENUE
		STREET 2:		SUITE 1101
		CITY:			MIDLAND
		STATE:			TX
		ZIP:			79701
		BUSINESS PHONE:		9156821119

	MAIL ADDRESS:	
		STREET 1:		214 W TEXAS AVENUE
		STREET 2:		SUITE 1101
		CITY:			MIDLAND
		STATE:			TX
		ZIP:			79701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MILLER OIL CO
		DATE OF NAME CHANGE:	19800702
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v023682_8-k.txt
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                [GRAPHIC OMITTED]

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                  Securities Exchange Act of 1934.

                         Date of Report: August 12, 2005
                        (Date of earliest event reported)

                            Mexco Energy Corporation
             (Exact name of registrant as specified in its charter)

       CO                                                           84-0627918
(State or other                       0-6694                      (IRS Employer
jurisdiction of               Commission File Number)             Identification
 incorporation)                                                      (Number)

        214 W. Texas Avenue, Suite 1101                           79701
    (Address of principal executive offices)                    (Zip Code)

        Registrant's telephone number, including area code: 432-682-1119

                                 Not applicable
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.13e-4(c))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

- --------------------------------------------------------------------------------
Item 2.02. Results of Operations and Financial Condition.

On August 12, 2005, Mexco Energy Corporation issued a press release announcing
its financial results for the quarter ended June 30, 2005. A copy of the press
release is furnished as a part of this current report on Form 8-K as Exhibit
99.1 and is incorporated herein in its entirety by reference. The press release
is being furnished pursuant to Item 2.02, Results of Operations and Financial
Condition. The information furnished is not deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to
the liabilities of that section and is not deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended.


<PAGE>

Item 9.01. Financial Statements and Exhibits.

(c)   Exhibits

      Exhibit 99.1      Copy of Mexco's press release dated August 12, 2005,
                        publicly announcing its first quarter fiscal 2006
                        financial results.

Pursuant to the requirements of the Securities and Exchange Act of 1934, Mexco
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.

                                          MEXCO ENERGY CORPORATION

Dated:  August 12, 2005                   By: /s/ Nicholas C. Taylor
                                              ----------------------------------
                                              Nicholas C. Taylor
                                              CEO

                                INDEX TO EXHIBITS

Exhibit
Number                                  DESCRIPTION
- -------     --------------------------------------------------------------------
99.1        Copy of Mexco's press release dated August 12, 2005, publicly
            announcing its first quarter fiscal 2006 financial results.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v023682_ex99-1.txt
<TEXT>
Mexco Energy Corporation Reports Profitable First Quarter

MIDLAND, TX - 08/12/05 - Mexco Energy Corporation (AMEX: MXC) announced net
income of $160,918, or $0.09 per diluted share, for the first quarter of
fiscal 2006, up 57% from net income of $102,702, or $0.06 per diluted share
in the first quarter of fiscal 2005. Operating revenues rose to $803,092 in
the quarter, up 19% from $677,003 in the first quarter of fiscal 2005. The
average sales price received of $6.62 Mcfe was up 26% from the $5.25 per Mcfe
received in the first quarter of fiscal 2005.

Total operating expenses were $516,312 for the first quarter of fiscal 2006,
compared to $515,749 for the first quarter of fiscal 2005. Included in
operating expenses was a 19% increase in general and administrative expense.
The increase in general and administrative expense was primarily attributable
to consulting costs directly associated with the Company's Russian Venture.

The Company continues to focus its efforts on the acquisition of royalties in
areas with significant development potential. For the three months ending
June 30, 2005 revenues from oil and gas royalty interests accounted for
approximately 26% of the Company's revenues, compared to approximately 23%
for the first quarter of fiscal 2005.

The Company owns oil and gas properties in ten states, with the majority of
its activity centered in West Texas. The Company plans to continue to focus
its efforts to increase natural gas reserves, not only through the
acquisition of royalties, but through exploration and development as well.

In accordance with the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995, Mexco Energy Corporation cautions that
statements in this press release which are forward-looking and which provide
other than historical information involve risks and uncertainties that may
impact the Company's actual results of operations. Please see the Company's
Form 10-K for the fiscal year ended March 31, 2005 for a more complete
discussion of such risk factors.

For additional information, please contact:

Nicholas C. Taylor, CEO
Tammy L. McComic, CFO
432-682-1119


<PAGE>

                    Mexco Energy Corporation and Subsidiaries
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                               June 30,        March 31,
                                                                 2005            2005
                                                             ------------    ------------
                                                              (Unaudited)
ASSETS
     Current assets
<S>                                                          <C>             <C>
       Cash and cash equivalents                             $     89,024    $     85,209
       Accounts receivable:
         Oil and gas sales                                        419,410         418,348
         Trade                                                      7,286          23,258
         Related parties                                            1,275           2,103
       Prepaid costs and expenses                                  35,215           7,362
                                                             ------------    ------------
           Total current assets                                   552,210         536,280

     Investment in GazTex, LLC                                    282,126         282,126

     Property and equipment, at cost
       Oil and gas properties, using the full cost method
         ($965,018 and $983,680 excluded from amortization
         as of June 30, 2005 and 2004, respectively)           18,547,694      18,376,974
       Other                                                       36,855          36,855
                                                             ------------    ------------
                                                               18,584,549      18,413,829
       Less accumulated depreciation,
         depletion, and amortization                           10,067,765       9,929,086
                                                             ------------    ------------
           Property and equipment, net                          8,516,784       8,484,743
                                                             ------------    ------------
                                                             $  9,351,120    $  9,303,149
                                                             ============    ============

LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities
       Accounts payable - trade                              $    121,535    $    111,675
       Income tax payable                                          74,278          48,127
       Current portion of long-term debt                        1,815,000              --
                                                             ------------    ------------
         Total current liabilities                              2,010,813         159,802

     Long-term debt                                                  --         1,990,000
     Asset retirement obligation                                  364,884         374,506
     Deferred income tax liability                                740,713         715,284
     Minority interest                                             25,362          25,362
     Commitments and contingencies

     Stockholders' equity
       Preferred stock - $1.00 par value;
         10,000,000 shares authorized; none outstanding                --              --
       Common stock - $0.50 par value;
         40,000,000 shares authorized;
         1,766,566 shares issued                                  883,283         883,283
       Additional paid-in capital                               3,836,827       3,826,592
       Retained earnings                                        1,634,813       1,473,895
       Treasury stock, at cost (33,525 shares)                   (145,575)       (145,575)
                                                             ------------    ------------
     Total stockholders' equity                                 6,209,348       6,038,195
                                                             ------------    ------------
                                                             $  9,351,120    $  9,303,149
                                                             ============    ============
</TABLE>


<PAGE>

                    Mexco Energy Corporation and Subsidiaries
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                       For the Three Months Ended June 30,
                                   (Unaudited)

                                                       2005            2004
                                                   ------------    ------------
Operating revenues:
    Oil and gas                                    $    802,720    $    674,995
    Other                                                   372           2,008
                                                   ------------    ------------
       Total operating revenues                         803,092         677,003

Operating expenses:
    Production                                          176,445         191,738
    Accretion of asset retirement obligation              5,785           6,820
    Depreciation, depletion, and amortization           138,679         152,772
    General and administrative                          195,403         164,419
                                                   ------------    ------------
       Total operating expenses                         516,312         515,749
                                                   ------------    ------------

Operating profit                                        286,780         161,254

Other income (expense):
    Interest income                                         167              53
    Interest expense                                    (29,982)        (16,843)
                                                   ------------    ------------

       Net other expense                                (29,815)        (16,790)

Minority interest in loss of subsidiary                   3,824              --
                                                   ------------    ------------

Earnings before income taxes                            260,789         144,464

Income tax expense:
    Current                                              74,442          43,425
    Deferred                                             25,429          (1,663)
                                                   ------------    ------------
                                                         99,871          41,762
                                                   ------------    ------------

Net income                                         $    160,918    $    102,702
                                                   ============    ============

Net income per common share:

Basic:                                             $       0.09    $       0.06
Diluted:                                           $       0.09    $       0.06
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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