Mexco Energy Corporation Announces Royalty Purchase
MIDLAND, Texas, Dec. 10 /PRNewswire-FirstCall/ -- Mexco Energy Corporation
announced today the purchase of partially developed royalty interests in Jackson
Parish, Louisiana. These properties, operated by Anadarko Petroleum Corporation
in the Lower Cotton Valley formation, contain 8 producing wells and an
additional 3 permitted and/or drilling wells. This purchase advances the
Company's primary goal of acquiring natural gas reserves. Previous acquisitions
of partially developed royalty interests generally have provided high yield and
high quality reserves at favorable fixed costs to the Company. As of March 31,
2003, approximately 15% of the Company's revenues were from royalty interests.
Mexco Energy Corporation's stock trades on the American Stock Exchange under the
symbol MXC. DATASOURCE: Mexco Energy Corporation CONTACT: Tammy L. McComic, Vice President of Finance of Mexco Energy Corporation, +1-432-682-1119
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