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I agree with you on that it could be setting up to do very well as oil prices continue to increase into 2012.
Mexco is an oil and gas exploration and production company engaged in assets within the United States. Mexco will generally seek out areas and obtain leases for the purpose of exploration.
Historically this company has focused on natural gas reserves. On August 17th, 2010, this company acquired the royalty interest in 5,120 gross acres covering eight sections in the Haynesville trend.
The operators in this area are PetroHawk (HK) and Chesapeake. This stock is also speculative, and seems to have significant momentum traders in the name.
This chart is starting to look bullish!
Nothing but ugly since February.
For the week: +3.40%
-2.28% is the scorecard for the week...
I cant believe it is around $10.
10.13 -15% I picked some up on the pullback today at 10.10.Thing is down from 18.50 peak. Looking for a bounce on it.
For the week so far: +68%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Yesssss!
My friends, for the week: +1%!!!
NOPE, BUT, 2011 IS LOOKING MUCH BETTER I THINK!
2010 was not very kind to MXC...
The website is really pathetic: http://www.mexcoenergy.com/index.html
Market likes the news - +5%.
You are correct sir. dang it!
Not happening right now... a beat down for 18 months.
I believe there is a turn around here. Just a guess.
I don't get this... unending downtrend.
I see that. I bet things will turn around. Wow are you doing bro?
This one is struggling with holding share value...
wow! Just saw the price!! Been working alot off the computer of late.
Thank you for the PRAYER! You rock!
Hey vegas... I hope things are getting brighter for you... you had a freind in trouble and I put both of you on my prayer list - I hope I did the right thing... anyway, I got ya added as a mod so feel free to pump away!!!
Yes, I agree! Like that other stock you where in. When I saw you and this other guy in it, I knew it was going to go!
Mexco Energy Corporation Adds Member to Board of Directors
MIDLAND, Texas, April 9 /PRNewswire-FirstCall/ --
Mexco Energy Corporation (Amex: MXC) (the "Company") today reported the Board of Directors appointed Paul Garry Hines to the company's Board of Directors and Chairman of the Audit Committee effective April 1, 2010, increasing the total Board count to six members. Mr. Hines is expected to stand for election at the 2010 Annual Meeting of Shareholders on September 14, 2010 to serve for a term of one year.
"The addition of Paul to the Mexco Board will strengthen our Board composition by adding expertise in finance and business strategy," stated Nicholas C. Taylor, President and CEO of Mexco. "Paul is a seasoned executive whose activities have concentrated on advising on business matters related to strategy, operations and finance as well as growth, change and improvement."
Paul Hines served with E. F. Hutton and Company, Inc. from 1970 through 1986 in a variety of positions including Vice President of Corporate Development, Executive Vice President and member of the Board of Directors of the broker dealer.
Within the broker dealer, principal responsibilities were Corporate Development, internal consulting, and Control. In the early 1980's, Hines established a Treasury function within the Hutton Group. Prior to establishing that function, all cash flowed through operations, as it did in most broker dealers.
Hines served as Chief Financial Officer for William E. Simon and Sons from 1987 to 1989. From 1990 to 2000, he was involved in venture capital and as an independent consultant. He was a member of the Board of Directors of investment bank and broker, Ryan Beck and Company.
From 2000 to the present, he has served in a number of capacities with various charitable organizations. He is a contributor to several publications including Controllers Handbook (Dow Jones Irwin, 1978), Chief Financial Officers Handbook (Dow Jones Irwin, 1986) and Financial Services Handbook (Wiley, 1987).
Mexco Energy Corporation owns oil and gas properties in ten states, with the majority of its activity centered in West Texas. The Company continues to focus its efforts on accumulating oil and natural gas reserves, through exploration and development as well as acquisition of royalties with significant development potential.
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, 2009. Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.
SOURCE Mexco Energy Corporation
For the week, up +24%... just the start I think.
Yes... and it is putting in quite a move right now...
Perhaps a bottom is forming here... the market will tell us.
I KNEW THAT WAS GOING TO HAPPEN!
Mexco Energy Corporation Announces Additional Development of Properties
http://finance.yahoo.com/news/Mexco-Energy-Corporation-prnews-14645060.html?x=0&.v=1
Press Release
Source: Mexco Energy Corporation
On 1:34 pm EST, Wednesday November 18, 2009
MIDLAND, Texas, Nov. 18 /PRNewswire-FirstCall/ -- Mexco Energy Corporation (Amex: MXC - News) today announced additional development of oil and gas properties in which it holds an interest.
Mexco announced development of its natural gas property in the Newark East (Barnett Shale) Field in Tarrant County, Texas. Mexco owns a 21.45% royalty interest in a 122 acre tract. Three additional wells have been drilled on subsequently pooled acreage and are currently producing natural gas into the sales pipeline. This property, operated by Chesapeake Operating, Inc., now contains the original 3 wells plus the 3 new wells for a total of 6 wells. Mexco's royalty interests in these pooled acreage wells range from 5.39% to 6.57%. The Newark East Field is one of the largest gas fields in the United States.
Mexco is participating in drilling 3 development oil wells in the Brahaney Field in Yoakum County, Texas. All wells are to be drilled to a total depth of approximately 5,500 feet to test the long-lived San Andres formation. Two of these wells have been completed with the third well currently being drilled. Mexco's working interest in these wells is 3.75% (2.3985% net revenue interest).
Mexco also is participating in the drilling of 5 infill oil wells in the Fuhrman-Mascho and Nix (Clearfork) Fields of Andrews County, Texas. All of these wells have been drilled to a total depth of approximately 7,200 feet to test the long-lived Clearfork and San Andres formations and are in the process of being completed. Mexco's working interest in these wells range from 0.399% to 0.7% (respectively, from 0.225% to 0.399% net revenue interest).
Mexco also participated in the drilling of 4 infill wells in the Dodd-Federal Unit in the Grayburg Jackson Field of Eddy County, New Mexico. These wells were drilled to a total depth of approximately 5,000 feet. The unit, operated by Marbob Energy Corporation, currently contains approximately 100 wells and is expected to contain approximately 140 wells when completely drilled. Mexco's working interest in this unit is .1848% (.14% net revenue interest).
Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties. For more information on Mexco Energy Corporation, go to www.mexcoenergy.com.
FORWARD-LOOKING STATEMENTS
Except for historical information, statements made in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Actual events or results may differ materially from the forward-looking statements.
Estimates of potential typically do not take into account all the risks of drilling and completion nor do they take into account the fact that hydrocarbon volumes are never 100% recoverable. Such estimates are part of the complex process of trying to measure and evaluate risk and reward in an uncertain industry.
Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, the substantial capital expenditures required to fund operations, exploration risks, uncertainties about estimates of reserves, competition, government regulation, costs and results of drilling new projects, equipment availability, or other things that are associated with oil and gas production or may be beyond the control of the Company. Operations that are anticipated, planned or scheduled may be changed, delayed, take longer than expected, fail to accomplish intended results, or not take place at all. These risks and uncertainties are described in the Company's annual report on Form 10-K filed with the Securities and Exchange Commission ("SEC").
Pretty sure this will spike sometime.
I agree... watching closely for a sudden surge.
Member mark #22 for coming to share observations... thanks.
I believe it should hold well, and, then track up a nice amount this fall.
10 seems to be the floor... the market will tell us.
I still see that tempting reverse H&S on the weekly... all the best.
Looks like a reverse H&S pattern on the weekly chart...
Mexco cannot be stopped!!!
Nearly 10% higher... did I answer my own question???
Is this turning a corner headed higher???
Was a great buy!
thinking about buying some MXC. I watched it last year shoot up when the oil rose. Is this a good point to buy or wait till it dips below 10$ ? I dont want to miss the run this time.
Not sure. Just know they have a proven biz model to make $ if nat gas is $4 or more. so if they get under tangible book value then I'm a buyer. tried to get some when it dropped into the $5s briefly but went on the bid only to see it take off before I got anything on my bids.
Of course, nat gas has been under $4 lately so the next Q could be tough.
Also, those wells they purchased last year that got me so excited are drawing down in production levels. Fairly steep the first year for those Barnett shale wells. But they level out eventually and keep a decent run rate for years.
The company doesn't control the wells (maintenance, shut-in etc) though so if CHK decides to shut them in, then off goes the revs spigot. But it also helps build for when they come back online. i used to have links to the actual well production (it was only one well out of their group of a few of them I think and a 2 month lag for the rates) awhile back but couldn't get the link to work any more. Was a pain in the arse locating the flow rates though so was disappointed not to be able to get that data again.
Got the name of the wells from Tammi after some conversations. It is public record for flow rates but as mentioned they're 2 month lag.
If this drops back into the $5s and I get enough of a chunk I'll find it all again. Takes time though as I recall.
Doesn't seem cheap at this level but if the mojos get hold of it who knows. I'm not chasing it.
Good luck.
WHAT A GREAT WILD RIDE WE HAVE HAD LATELY!!!
Littlefish, where do you see MXC going this time?
Oil is hot! very nice gain on very low volume.
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WELCOME TO MEXCO ENERGY CORPORATION ONLINE
Mexco Energy Corporation is an independent, publicly owned oil and gas company engaged in acquiring and developing oil and gas properties and the exploration for and production of oil and gas. Mexco Energy Corporation, a Colorado corporation founded in 1972, currently conducts all of its drilling, exploration and production activities in the United States. All of its oil and gas assets are located in the United States and all of its revenues are derived from sales to customers within the United States, primarily in the Permian Basin of West Texas.
Mexco focuses primarily on the exploration for and development primarily of natural gas reserves and secondarily oil reserves.
In addition to exploration and development, Mexco acquires interests in producing and non-producing oil and gas leases from landowners and leaseholders in areas considered favorable for oil and gas exploration, development and production.
Mexco also engages in the business of acquiring proved reserves and continually searches for opportunities to acquire proved oil and gas properties, including royalties and mineral interests with development potential.
Mexco common stock is listed and trades on the American Stock Exchange under the symbol MXC.
CORPORATE GOVERNANCE | ||
Directors of Mexco Energy Corporation Thomas Graham, Jr. - Chairman of the Board of Directors | Officers of Mexco Energy Corporation Nicholas C. Taylor - President, Chief Executive Officer, Director |
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