-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TodIqD9UMvLtirnHvmmQULJaOpSBQosF3oQuP2rHFAdgWtE5iLaujnAJHXVgA6bp pzZVp1IBat6Ta2V2PegqFQ== 0001012709-02-000784.txt : 20020523 0001012709-02-000784.hdr.sgml : 20020523 20020523134505 ACCESSION NUMBER: 0001012709-02-000784 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020523 ITEM INFORMATION: Other events FILED AS OF DATE: 20020523 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: 000-06694 FILM NUMBER: 02660790 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 8-K 1 x8k-502.txt MEXCO ENERGY CORPORATION SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Act of 1934 Date of Report (date of earliest event reported): May 23, 2002 MEXCO ENERGY CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its Charter) Colorado 0-6694 84-0627918 - -------------------------------------------------------------------------------- (State or other (Commission File (I.R.S. Employer jurisdiction of Number) Identification No.) incorporation) 214 W. Texas, Suite 1101, Midland, Texas 79701 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: 915-682-1119 ITEM 5. OTHER EVENTS - ------- ------------ The estimates of the Company's proved oil and gas reserves, which are located entirely within the United States, were prepared in accordance with the guidelines established by the Securities and Exchange Commission and Financial Accounting Standards Board. The estimates as of March 31, 2002, 2001 and 2000 are based on evaluations prepared by Joe C. Neal and Associates, Petroleum Consultants. For information concerning costs incurred by the Company for oil and gas operations, net revenues from oil and gas production, estimated future net revenues attributable to the Company's oil and gas reserves, present value of the future net revenues discounted at 10% and changes therein, see Notes to the Company's consolidated financial statements. Financial statements for the fiscal year ended March 31, 2002, will be available in late June, 2002. The Company emphasizes that reserve estimates are inherently imprecise and there can be no assurance that the reserves set forth below will be ultimately realized. In estimating reserves as of March 31, 2002, average prices of $23.00 per barrel for oil and $3.00 per mcf (thousand cubic feet) for gas were used, which were the average actual prices in effect for the Company's production. The Company has not filed any oil or gas reserve estimates or included any such estimates in reports to any other federal or foreign governmental authority or agency within the past twelve months. The estimated proved oil and gas reserves and present value of estimated future net revenues from proved oil and gas reserves for the Company in the periods ended March 31 are summarized below. PROVED RESERVES
March 31, -------------------------------------------- 2002 2001 2000 ------------ ------------ ------------ Oil (Bbls): Proved developed - Producing 143,003 145,954 138,839 Proved developed - Non-producing 1,404 88,700 -- Proved undeveloped 92,900 -- -- ------------ ------------ ------------ Total 237,307 234,654 138,839 ============ ============ ============ Natural gas (Mcf): Proved developed - Producing 3,822,715 4,447,379 4,165,396 Proved developed - Non-producing 1,336,190 1,889,833 589,951 Proved undeveloped 5,023,328 8,234 -- ------------ ------------ ------------ Total 10,182,233 6,345,446 4,755,347 ============ ============ ============ Present value of estimated future Net revenues before income taxes $ 11,925,260 $ 15,988,820 $ 6,144,644 ============ ============ ============
The preceding tables should be read in connection with the following definitions: PROVED RESERVES. Estimated quantities of oil and gas, based on geologic and engineering data, appear with reasonable certainty to be economically recoverable in future years from known reservoirs under existing economic and operating conditions. PROVED DEVELOPED RESERVES. Proved oil and gas reserves expected to be recovered through existing wells with existing equipment and operating methods. Developed reserves include both producing and non-producing reserves. Producing reserves are those reserves expected to be recovered from existing completion intervals producing as of the date of the reserve report. Non-producing reserves are currently shut-in awaiting a pipeline connection or in reservoirs behind the casing or at minor depths above or below the producing zone and are considered recoverable by production either from wells in the field, by successful drill-stem tests, or by core analysis. Non-producing reserves require only moderate expense for recovery. PROVED UNDEVELOPED RESERVES. Proved oil and gas reserves expected to be recovered from additional wells yet to be drilled or from existing wells where a relatively major expenditure is required for completion. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Mexco Energy Corporation Registrant /s/ Nicholas C. Taylor ------------------------------------- Nicholas C. Taylor, President Dated: May 23, 2002 -----END PRIVACY-ENHANCED MESSAGE-----