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<SEC-DOCUMENT>0001144204-06-005868.txt : 20060214
<SEC-HEADER>0001144204-06-005868.hdr.sgml : 20060214
<ACCEPTANCE-DATETIME>20060214135730
ACCESSION NUMBER:		0001144204-06-005868
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060214
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060214
DATE AS OF CHANGE:		20060214

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:		06612197

	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>v035524_mexco-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: February 14, 2006
                        (Date of earliest event reported)

                            Mexco Energy Corporation
             (Exact name of registrant as specified in its charter)
      CO
(State or other                                                 84-0627918
jurisdiction of                    0-6694                     (IRS Employer
incorporation)            (Commission File Number)        Identification 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 February 14, 2006, Mexco Energy Corporation issued a press release announcing
its financial results for the quarter ended December 31, 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 February 14, 2006,
                        publicly announcing its third 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:  February 14, 2006               By: /s/ Nicholas C. Taylor
                                            ------------------------------------
                                            Nicholas C. Taylor
                                            CEO

                                INDEX TO EXHIBITS

Exhibit
Number                              DESCRIPTION

99.1        Copy of Mexco's press release dated February 14, 2006, publicly
            announcing its third quarter fiscal 2006 financial results.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v035524_ex99-1.txt
<TEXT>
FOR IMMEDIATE RELEASE:

Mexco Energy Corporation Reports Profitable Third Quarter

MIDLAND, TX - 2/14/06 - Mexco Energy Corporation (AMEX: MXC) reported net income
for the third quarter of fiscal 2006 of $354,608, or $0.19 per diluted share, as
compared to net income of $183,359, or $0.10 per diluted share, for the third
quarter of fiscal 2005, a 93% increase.

For the nine months ended December 31, 2005, the Company reported net income of
$801,249, or $0.43 per diluted share, as compared to $405,120, or $0.22 per
diluted share, for the same period of fiscal 2005, a 98% increase. Operating
revenues increased $672,946 (31%) to $2,850,914 for the nine month period from
$2,177,968 for the same period of fiscal 2005. The average sales price received
of $7.97 Mcfe was up 37% from the $5.80 per Mcfe received in the first nine
months of fiscal 2005.

Oil and gas sales for the third quarter of fiscal 2006 increased $336,558 (43%)
to $1,111,524 from $774,966 in the third quarter of fiscal 2005. The average
sales price received of $9.56 per Mcfe was up 53% from the $6.23 per Mcfe
received in the third quarter of fiscal 2005. Oil production increased 2% and
gas production decreased 9% during the third quarter of fiscal 2006 as compared
to the third quarter of fiscal 2005.

Total operating expenses for the third quarter of fiscal 2006 increased $65,012
to $553,130 from $488,118 in the third quarter of fiscal 2005. Included in
operating expenses was a 45% 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 a substantial portion of its efforts on the
acquisition of royalties in areas with significant development potential. For
the nine months ended December 31, 2005 revenues from oil and gas royalty
interests accounted for approximately 26% of the Company's revenues, compared to
approximately 21% for the nine months ended December 31, 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 oil and natural gas reserves, through exploration and
development as well as acquisition of royalties.

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>
                                                                     December 31      March 31
                                                                        2005            2005
                                                                    ------------    ------------
                                                                     (Unaudited)
<S>                                                                 <C>             <C>
ASSETS
     Current assets
       Cash and cash equivalents                                    $     81,125    $     85,209
       Accounts receivable:
         Oil and gas sales                                               581,347         418,348
         Trade                                                             3,021          23,258
         Related parties                                                   1,062           2,103
       Prepaid costs and expenses                                         64,080           7,362
                                                                    ------------    ------------
           Total current assets                                          730,635         536,280

     Investment in GazTex, LLC                                           282,126         282,126

     Property and equipment, at cost
       Oil and gas properties, using the full cost method
         ($970,831 and $921,719 excluded from amortization
         as of December 31, 2005 and March 31, 2005 respectively)     18,792,530      18,376,974
       Other                                                              39,848          36,855
                                                                    ------------    ------------
                                                                      18,832,378      18,413,829
       Less accumulated depreciation,
         depletion, and amortization                                  10,335,206       9,929,086
                                                                    ------------    ------------
           Property and equipment, net                                 8,497,172       8,484,743
                                                                    ------------    ------------
                                                                    $  9,509,933    $  9,303,149
                                                                    ============    ============

LIABILITIES AND STOCKHOLDERS' EQUITY
     Current liabilities
       Accounts payable and accrued expenses                        $    103,094    $    111,675
       Income tax payable                                                295,740          48,127
                                                                    ------------    ------------
         Total current liabilities                                       398,834         159,802

     Long-term debt                                                    1,125,000       1,990,000
     Asset retirement obligation                                         375,714         374,506
     Deferred income tax liability                                       730,933         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                                      3,841,238       3,826,592
       Retained earnings                                               2,275,144       1,473,895
       Treasury stock, at cost (33,525 shares)                          (145,575)       (145,575)
                                                                    ------------    ------------
Total stockholders' equity                                             6,854,090       6,038,195
                                                                    ------------    ------------
                                                                    $  9,509,933    $  9,303,149
                                                                    ============    ============
</TABLE>


<PAGE>

                    Mexco Energy Corporation and Subsidiaries
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                      Three Months Ended              Nine Months Ended
                                                          December 31                    December 31
                                                     2005            2004            2005            2004
                                                 ----------------------------    ----------------------------
<S>                                              <C>             <C>             <C>             <C>
Operating revenue:
     Oil and gas sales                           $  1,111,524    $    774,966    $  2,848,159    $  2,172,413
     Other                                                387             372           2,755           5,555
                                                 ------------    ------------    ------------    ------------
         Total operating revenues                   1,111,911         775,338       2,850,914       2,177,968

Operating expenses:
     Production                                       223,169         206,493         648,844         604,458
     Accretion of asset retirement obligation           6,566           5,824          18,132          19,077
     Depreciation, depletion, and amortization        129,398         141,764         406,120         414,816
     General and administrative                       193,997         134,037         569,478         465,984
                                                 ------------    ------------    ------------    ------------
         Total operating expenses                     553,130         488,118       1,642,574       1,504,335
                                                 ------------    ------------    ------------    ------------

Operating profit                                      558,781         287,220       1,208,340         673,633

Other income (expense):
     Interest income                                      232             107             594             238
     Interest expense                                 (25,286)        (23,309)        (82,159)        (61,115)
                                                 ------------    ------------    ------------    ------------

         Net other expense                            (25,054)        (23,202)        (81,565)        (60,877)
                                                 ------------    ------------    ------------    ------------

Earnings before income taxes and minority
     interest                                         533,727         264,018       1,126,775         612,756

Income tax expense:
     Current                                          179,287          (6,910)        321,230         106,522
     Deferred                                           3,019          87,569          15,649         101,114
                                                 ------------    ------------    ------------    ------------
                                                      182,306          80,659         336,879         207,636

Income before minority interest                       351,421         183,359         789,896         405,120

Minority interest in loss of subsidiary                 3,187              --          11,353              --
                                                 ------------    ------------    ------------    ------------

Net income                                       $    354,608    $    183,359    $    801,249    $    405,120
                                                 ============    ============    ============    ============

Net income per common share:

Basic:                                           $       0.20    $       0.11    $       0.46    $       0.23
Diluted:                                         $       0.19    $       0.10    $       0.43    $       0.22
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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