EXHIBIT 99.1

May 19, 2008

FOR IMMEDIATE RELEASE

MEXCO ENERGY CORPORATION ANNOUNCES EXPLORATION AND DEVELOPMENT RESULTS

MIDLAND, TEXAS, May 19, 2008 - Mexco Energy Corporation (AMEX: MXC) today announced completion of a well in Loving County, Texas.

Mexco Energy Corporation acted as operator of a discovery well drilled to a depth of approximately 6,680 feet in the Cherry Canyon producing interval in Loving County, Texas. This well produced from a 45 acre drilling and spacing unit on a 24/64” choke flow test on May 16, 2008 at a rate of 3,450,000 cubic feet of gas per day with a flowing tubing pressure of 1,000 pounds per square inch, 912 barrels of water and 48 barrels of oil per day. Mexco’s working interest in this well is 31.25 % (net revenue interest of 22.94%). Further testing, exploration and development of this discovery is anticipated and we will issue an update later in the week.

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.

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”).

Mexco Contact:

Tammy L. McComic, Vice President and Chief Financial Officer,

mexco@sbcglobal.net, (432) 682-1119