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<SEC-DOCUMENT>0001144204-05-035855.txt : 20051115
<SEC-HEADER>0001144204-05-035855.hdr.sgml : 20051115
<ACCEPTANCE-DATETIME>20051115112207
ACCESSION NUMBER:		0001144204-05-035855
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20051114
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20051115
DATE AS OF CHANGE:		20051115

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:		051205171

	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>v029333_8k.txt
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                   -------------------------------------------


                                    FORM 8-K


                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                        SECURITIES EXCHANGE ACT OF 1934.
                        DATE OF REPORT: NOVEMBER 14, 2005
                        (Date of earliest event reported)

                            MEXCO ENERGY CORPORATION
             (Exact name of registrant as specified in its charter)

      CO                             0-6694                       84-0627918
(State or other                 (Commission File                (IRS Employer
jurisdiction of                      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 November 14, 2005, Mexco Energy Corporation issued a press release announcing
its financial results for the quarter ended September 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 November 14, 2005,
                   publicly announcing its second 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:  November 14, 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 November 14, 2005, publicly announcing
      its second quarter fiscal 2006 financial results.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v029333_ex99-1.txt
<TEXT>
FOR IMMEDIATE RELEASE:


Mexco Energy Corporation Reports Profitable Second Quarter

MIDLAND, TX - 11/14/05 - Mexco Energy Corporation (AMEX: MXC) reported net
income for the second quarter of fiscal 2006 of $285,723, or $0.15 per diluted
share, as compared to net income of $119,060, or $0.07 per diluted share, for
the second quarter of fiscal 2005, a 140% increase.

For the six months ended September 30, 2005, the Company reported net income of
$446,641, or $0.24 per diluted share, as compared to $221,761, or $0.12 per
diluted share, for the same period of fiscal 2005, a 101% increase. Operating
revenues increased $336,375 (24%) to $1,739,004 for the six month period from
$1,402,629 for the same period of fiscal 2005. The average sales price received
of $7.20 Mcfe was up 29% from the $5.58 per Mcfe received in the first six
months of fiscal 2005.

Oil and gas sales for the second quarter of fiscal 2006 increased $211,463 (29%)
to $933,915 from $722,452 in the second quarter of fiscal 2005. The average
sales price received of $7.78 per Mcfe was up 31% from the $5.93 per Mcfe
received in the second quarter of fiscal 2005. Oil production increased 2% and
gas production decreased 2% during the second quarter of fiscal 2006 as compared
to the second quarter of fiscal 2005.

Total operating expenses for the second quarter of fiscal 2006 increased $72,667
to $573,133 from $500,466 in the second quarter of fiscal 2005. Included in
operating expenses was a 7% 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 six months ended September
30, 2005 revenues from oil and gas royalty interests accounted for approximately
25% of the Company's revenues, compared to approximately 19% for the six months
ended September 30, 2004.

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. These risks include, but are not limited
to, production variance from expectations, volatility of oil and gas prices, the
need to develop and replace reserves, exploration risks, uncertainties about
estimates of reserves, competition, government regulation, and mechanical and
other inherit risks associated with oil and gas production. A discussion of
these and other factors, including risks and uncertainties, is set forth in the
Company's Form 10-K for the fiscal year ended March 31, 2005. Mexco Energy
Corporation disclaims any intention or obligation to revise any forward-looking
statements.

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>
                                                                     September 30      March 31
                                                                         2005            2005
                                                                     ------------    ------------
                                                                      (Unaudited)
<S>                                                                  <C>             <C>
ASSETS
     Current assets
       Cash and cash equivalents                                     $     31,986    $     85,209
       Accounts receivable:
         Oil and gas sales                                                547,047         418,348
         Trade                                                             18,634          23,258
         Related parties                                                    2,763           2,103
       Prepaid costs and expenses                                          57,677           7,362
                                                                     ------------    ------------
           Total current assets                                           658,107         536,280

     Investment in GazTex, LLC                                            282,126         282,126

     Property and equipment, at cost
       Oil and gas properties, using the full cost method
         ($965,601 and $921,719 excluded from amortization
         as of September 30, 2005 and March 31, 2005 respectively)     18,707,113      18,376,974
       Other                                                               36,855          36,855
                                                                     ------------    ------------
                                                                       18,743,968      18,413,829
       Less accumulated depreciation,
         depletion, and amortization                                   10,205,808       9,929,086
                                                                     ------------    ------------
           Property and equipment, net                                  8,538,160       8,484,743
                                                                     ------------    ------------
                                                                     $  9,478,393    $  9,303,149
                                                                     ============    ============

LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities
       Accounts payable and accrued expenses                         $    128,740    $    111,675
       Income tax payable                                                 131,387          48,127
                                                                     ------------    ------------
         Total current liabilities                                        260,127         159,802

     Long-term debt                                                     1,600,000       1,990,000
     Asset retirement obligation                                          370,407         374,506
     Deferred income tax liability                                        727,913         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                                       3,836,340       3,826,592
       Retained earnings                                                1,920,536       1,473,895
       Treasury stock, at cost (33,525 shares)                           (145,575)       (145,575)
                                                                     ------------    ------------
Total stockholders' equity                                              6,494,584       6,038,195
                                                                     ------------    ------------
                                                                     $  9,478,393    $  9,303,149
                                                                     ============    ============
</TABLE>


<PAGE>


                    MEXCO ENERGY CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                     Three Months Ended              Six Months Ended
                                                         September 30                  September 30
                                                     2005           2004            2005          2004
                                                 --------------------------    --------------------------
<S>                                              <C>            <C>            <C>            <C>
Operating revenue:
     Oil and gas sales                           $   933,915    $   722,452    $ 1,736,635    $ 1,397,447
     Other                                             1,996          3,174          2,369          5,182
                                                 -----------    -----------    -----------    -----------
         Total operating revenues                    935,911        725,626      1,739,004      1,402,629

Operating expenses:
     Production                                      249,231        206,226        425,676        397,964
     Accretion of asset retirement obligation          5,780          6,432         11,566         13,253
     Depreciation, depletion, and amortization       138,043        120,280        276,722        273,052
     General and administrative                      180,079        167,528        375,482        331,947
                                                 -----------    -----------    -----------    -----------
         Total operating expenses                    573,133        500,466      1,089,446      1,016,216
                                                 -----------    -----------    -----------    -----------

Operating profit                                     362,778        225,160        649,558        386,413

Other income (expense):
     Interest income                                     196             77            363            130
     Interest expense                                (26,891)       (20,963)       (56,874)       (37,806)
                                                 -----------    -----------    -----------    -----------

         Net other expense                           (26,695)       (20,886)       (56,511)       (37,676)
                                                 -----------    -----------    -----------    -----------

Earnings before income taxes and minority
     interest                                        336,083        204,274        593,047        348,737

Income tax expense:
     Current                                          67,501         70,006        141,943        113,431
     Deferred                                        (12,799)        15,208         12,630         13,545
                                                 -----------    -----------    -----------    -----------
                                                      54,702         85,214        154,573        126,976

Income before minority interest                      281,381        119,060        438,474        221,761

Minority interest in loss of subsidiary                4,342             --          8,167             --
                                                 -----------    -----------    -----------    -----------

Net income                                       $   285,723    $   119,060    $   446,641    $   221,761
                                                 ===========    ===========    ===========    ===========

Net income per common share:

Basic:                                           $      0.16    $      0.07    $      0.26    $      0.13
Diluted:                                         $      0.15    $      0.07    $      0.24    $      0.12
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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