Mexco Energy Corporation Announces Royalty Purchase
MIDLAND, Texas, March 19 /PRNewswire-FirstCall/ -- Mexco Energy Corporation
announced today the purchase of partially developed royalty interests in
Limestone County, Texas. These properties operated by XTO Energy, Inc. and in
the Lower Cotton Valley formation, contain 21 producing wells and an additional
7 permitted and/or drilling wells. This acreage contains approximately 100
potential undrilled locations on 40 acre spacing. This purchase furthers the
primary goal of the Company 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 America Stock Exchange under the
symbol MXC. DATASOURCE: Mexco Energy Corporation CONTACT: Tammy McComic of Mexco Energy Corporation, +1-432-682-1119
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