UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 10-Q

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2000

                          Commission file number 0-6994


                            MEXCO ENERGY CORPORATION
             (Exact name of registrant as specified in its charter)




            Colorado                                       84-0627918
    (State or other jurisdiction                          (IRS Employer
         of incorporation)                            Identification Number)


             214 West Texas Avenue, Suite 1101, Midland, Texas 79701
                    (Address of principal executive offices)


                                 (915) 682-1119
              (Registrant's telephone number, including area code)




     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. YES  X   NO
                                              ---     ---


                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     State the number of shares  outstanding of each of the issuer's  classes of
common stock as of the latest practicable date.

                         Common Stock, $0.50 par value:
                  1,623,293 shares outstanding at June 30, 2000

<PAGE>
                            MEXCO ENERGY CORPORATION


                                Table of Contents

                                                                            Page

PART I.  FINANCIAL INFORMATION


  Consolidated Balance Sheets as of June 30, 2000 (Unaudited)
  and March 31, 2000                                                          3

  Consolidated Statements of Operations (Unaudited) for the
  three month periods ended June 30, 2000 and June 30, 1999                   4

  Consolidated Statements of Cash Flows (Unaudited) for the
  three month periods ended June 30, 2000 and June 30, 1999                   5

  Notes to Unaudited Consolidated Financial Statements                        6

  Management's Discussion and Analysis of Financial Condition
  and Results of Operations                                                   8

  Quantitative and Qualitative Disclosures About Market Risk                 10


PART II.  OTHER INFORMATION                                                  11

SIGNATURES                                                                   12


                                       2
<PAGE>
                     MEXCO ENERGY CORPORATION AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS


                                                    June 30,         March 31,
                                                      2000             2000
                                                  ------------     ------------
                                                   (Unaudited)
ASSETS
Current assets:
Cash and cash equivalents                         $    115,613     $     97,712
Accounts receivable:
  Oil and gas sales                                    363,199          255,121
  Trade                                                    770            2,070
  Related parties                                        1,709           18,105
  Other                                                  5,000            5,000
Prepaid expenses                                        24,884           15,789
                                                  ------------     ------------
    Total current assets                               511,175          393,797

Property and equipment, at cost:
Oil and gas properties and equipment,
  using full cost method, pledged                   10,821,488       10,630,903
Office and computer equipment
  and software                                          22,586           22,586
                                                  ------------     ------------
                                                    10,844,074       10,653,489
Less accumulated depreciation,
  depletion and amortization                         7,305,967        7,193,967
                                                  ------------     ------------
    Property and equipment, net                      3,538,107        3,459,522
                                                  ------------     ------------
Total assets                                      $  4,049,282     $  3,853,319
                                                  ============     ============


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses             $     53,618     $     86,091
Current portion of long-term debt                         --               --
                                                  ------------     ------------
    Total current liabilities                           53,618           86,091

Long-term debt                                       1,150,000        1,200,000

Stockholders' equity:
Preferred stock, par value $1 per share;
  10,000,000 shares authorized;
    none issued                                           --               --
Common stock, par value $0.50 per share;
  40,000,000 shares authorized; 1,623,293
    and 1,623,289 shares issued and
    outstanding as of June 30, 2000 and
    March 31, 2000, respectively                       811,646          811,644
Additional paid in capital                           2,875,397        2,875,399
Retained earnings (deficit)                           (841,379)      (1,119,815)
                                                  ------------     ------------
    Total stockholders' equity                       2,845,664        2,567,228
                                                  ------------     ------------
Total liabilities and stockholders'
  equity                                          $  4,049,282     $  3,853,319
                                                  ============     ============

                    The accompanying note is an integral part
                    of the consolidated financial statements.


                                       3
<PAGE>
                    MEXCO ENERGY CORPORATION AND SUBSIDIARY
                     CONSOLIDATED STATEMENTS OF OPERATIONS
               For the Three Months ended June 30, 2000 and 1999
                                  (Unaudited)



                                                        2000            1999
                                                    -----------     -----------
Operating revenue:
   Oil and gas sales                                $   592,807     $   332,502
   Other                                                  1,470           1,151
                                                    -----------     -----------
      Total operating revenue                           594,277         333,653

Operating costs and expenses:
   Oil and gas production                                91,293         175,109
   Depreciation, depletion and amortization             112,000         106,298
   General and administrative                            85,042          62,910
                                                    -----------     -----------
      Total operating costs and expenses                288,335         344,317
                                                    -----------     -----------
                                                        305,942         (10,664)
Other income and (expenses):
   Interest income                                          316             433
   Interest expense                                     (27,822)        (25,692)
                                                    -----------     -----------
      Net other income and expenses                     (27,506)        (25,259)
                                                    -----------     -----------
Income (loss) before income taxes                       278,436         (35,923)

Income tax expense                                         --              --
                                                    -----------     -----------
Net income (loss)                                   $   278,436     $   (35,923)
                                                    ===========     ===========


Net income (loss) per share:
   Basic                                            $      0.17     $     (0.02)
   Diluted                                          $      0.17     $     (0.02)


Weighted average shares outstanding:
   Basic                                              1,623,293       1,623,289
   Diluted                                            1,623,293       1,623,289


                    The accompanying note is an integral part
                    of the consolidated financial statements.

                                       4
<PAGE>
                     MEXCO ENERGY CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                For the Three Months ended June 30, 2000 and 1999
                                   (Unaudited)



                                                         2000           1999
                                                       ---------      ---------
Cash flows from operating activities:
   Net income (loss)                                   $ 278,436      $ (35,923)
   Adjustments to reconcile net loss
       to net cash provided by operating
       activities:
       Depreciation, depletion and
           amortization                                  112,000        106,298
       Increase in accounts receivable                   (90,382)       (15,823)
       Decrease in accounts payable                      (14,908)       (31,434)
       Increase in prepaid assets                         (9,095)        (6,674)
                                                       ---------      ---------
       Net cash provided by operating
           activities                                    276,051         16,444

Cash flows from investing activities:
   Additions to property and equipment                  (208,150)       (93,537)
   Sale of property and equipment                           --          597,337
                                                       ---------      ---------
       Net cash provided by (used in)
           investing activities                         (208,150)       503,800

Cash flows from financing activities:
   Long-term borrowings                                     --          100,000
   Principal payments on long-term debt                  (50,000)      (643,000)
                                                       ---------      ---------
       Net cash used in financing activities             (50,000)      (543,000)
                                                       ---------      ---------
Net increase (decrease) in cash                           17,901        (22,756)

Cash, beginning of the period                             97,712         96,198
                                                       ---------      ---------
Cash, end of period                                    $ 115,613      $  73,442
                                                       =========      =========


Interest paid                                          $  27,775      $  29,085
Income taxes paid                                      $    --        $    --


Non-cash investing and financing activities:
Included  in  trade  accounts  payable  at  June  30,  2000  are  capital  costs
attributable to oil and gas properties of $7,126.

                    The accompanying note is an integral part
                    of the consolidated financial statements.

                                       5
<PAGE>
                     MEXCO ENERGY CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A.    Organization and Significant Accounting Policies

      Organization and Basis of Presentation

     Mexco Energy Corporation, a Colorado corporation, was organized in 1972 and
maintains its  principal  office in Midland,  Texas.  The Company and its wholly
owned subsidiary,  Forman Energy  Corporation,  (collectively the "Company") are
engaged in the acquisition,  exploration,  development and production of oil and
gas. While the Company owns  producing  properties  and  undeveloped  acreage in
eleven states,  the majority of its activities are centered in the Permian Basin
of West Texas. Although most of the Company's oil and gas interests are operated
by others, the Company operates several properties in which it owns an interest.

     In the  opinion of  management,  the  accompanying  unaudited  consolidated
financial  statements  contain all  adjustments  necessary to present fairly the
financial position of the Company and its wholly owned subsidiary as of June 30,
2000, and the results of its  operations and cash flows for the interim  periods
ended  June 30,  2000 and  1999.  The  results  of  operations  for the  periods
presented  are not  necessarily  indicative  of the results to be expected for a
full year. The accounting policies followed by the Company are set forth in more
detail in Note A of the  "Notes to  Consolidated  Financial  Statements"  in the
Company's  annual  report on Form 10-K filed with the  Securities  and  Exchange
Commission.  Certain information and footnote  disclosures  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles  have been  condensed  or omitted in this Form 10-Q  pursuant  to the
rules and regulations of the Securities and Exchange  Commission.  However,  the
disclosures   herein  are  adequate  to  make  the  information   presented  not
misleading.  It  is  suggested  that  these  financial  statements  be  read  in
conjunction with the financial statements and notes thereto included in the Form
10-K.

Principles of Consolidation

     The  accompanying  consolidated  balance sheets include the accounts of the
Company and its wholly owned subsidiary.  All significant inter-company accounts
and transactions have been eliminated in consolidation.

Stock Options

     The Company  accounts for employee  stock option grants in accordance  with
Accounting Principles Board ("APB") Opinion No. 25, "Accounting for Stock Issued
to Employees,"  whereby  compensation  costs are  recognized  only in situations
where stock  compensatory  plans award intrinsic value to recipients at the date
of grant. On March 31, 2000, the Financial  Accounting  Standards Board ("FASB")
issued  FASB  Interpretation  No.  44,  "Accounting  for  Certain   Transactions
involving Stock  Compensation"  an  interpretation  of APB Opinion No. 25, which
requires the Company to recognize  compensation  costs  related to stock options
granted to independent  consultants  in accordance  with FASB Statement No. 123,


                                       6
<PAGE>
                     MEXCO ENERGY CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


"Accounting for Stock-Based Compensation". The provisions of this Interpretation
are effective  July 1, 2000 and apply to new awards  granted after  December 15,
1998. The effects of applying this  Interpretation  will be recognized only on a
prospective  basis for those  previous  awards to independent  consultants,  and
accordingly,  no adjustments will be made upon initial  application to financial
statements  for periods prior to July 1, 2000.  Compensation  cost measured upon
application of this Interpretation that is attributable to periods subsequent to
July 1, 2000, will be recognized.

Income Taxes

     During the quarter  ended June 30, 2000 the  Company had no  provision  for
income taxes due to a reduction in valuation allowance for deferred tax assets.



                                       7
<PAGE>
                     MEXCO ENERGY CORPORATION AND SUBSIDIARY
          Management's Discussion and Analysis of Financial Condition
                           and Results of Operations


Forward-Looking Statements

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations ("MDA") contains  "forward-looking  statements" within the meaning of
Section 27A of the  Securities Act of 1933, as amended (the  "Securities  Act"),
and  Section  21E of the  Securities  Exchange  Act of  1934,  as  amended  (the
"Exchange  Act").  All  statements,  other than  statements of  historical  fact
included  in  MD&A,  including  statements  regarding  the  Company's  operating
strategy,  plans,  objectives and beliefs of management  for future  operations,
planned capital  expenditures and acquisitions are  forward-looking  statements.
Although   the  Company   believes   that  the   assumptions   upon  which  such
forward-looking  statements are based are  reasonable,  it can give no assurance
that such assumptions will prove to be correct.

Liquidity and Capital Resources

Historically,  the  Company's  sources  of  funding  have  been  from  operating
activities, bank financing and the issuance of common stock.

The Company's focus is on increasing  profit margins while  concentrating on gas
reserves with low cost operations.

For the first  three  months  of fiscal  2001,  cash  flow from  operations  was
$276,051, which included the effects of an increase in accounts receivable and a
decrease in accounts  payable.  Net cash flow was $17,901.  Cash of $208,150 was
used for additions to property and equipment. Cash of $50,000 reduced bank debt.

In April 1999 and July 1999, the Company acquired interests in non-producing and
producing  acreage in  Schleicher  County,  Texas and assumed  operations of two
producing  gas  wells  at  a  cost  of   approximately   $66,000  and  $138,000,
respectively.  Funds for these acquisitions were provided by the credit facility
discussed  below,  cash flow from  operations  and existing  cash  balances.  In
September,  the Company re-worked one of these producing wells and increased the
Company's average daily production from the well from 5 mcf to approximately 239
mcf,  which is declining as the reservoir is depleted over time, at a cost of to
the Company of approximately  $15,000.  Operating cash flow from these two wells
was  approximately  $113,508 and $33,430 for the twelve  months and three months
ended June 30, 2000,  respectively.  In February 2000, the Company, as operator,
completed the re-entry of a gas well on this non-producing  acreage at a cost to
the Company of approximately  $189,000.  Funds were provided from cash flow from
operations  and existing cash  balances.  Operating cash flow from this re-entry
was approximately $25,000 and $17,000 for the five months and three months ended
June 30, 2000,  respectively.  The Company owns approximate working interests in
these wells ranging from 67% to 97%.

                                       8
<PAGE>
In July 1999, the Company acquired royalty  interests in a producing gas well in
Winkler County, Texas at a cost to the Company of approximately  $94,000.  Funds
for this  acquisition  were  provided by its credit  facility  discussed  below.
Operating cash flow from this well was approximately  $14,000 and $4,000 for the
twelve months and three months ended June 30, 2000, respectively.

The Company has entered into an exploration  agreement relating to non-producing
acreage in Pecos  County,  Texas.  Approximately  3,795  gross acres and 432 net
acres have been leased and a 3-D  seismic  survey  covering 23 square  miles has
been completed at a cost to the Company of approximately $151,000 as of June 30,
2000.  Two test  wells  will be drilled on this  acreage.  The  Company  prepaid
drilling costs of $42,875 in July,  and the first test well  commenced  drilling
August 1, 2000.  The total  cost of this well to the  Company  is  estimated  at
$61,250.  Depending on the results of this well and the next test well, a number
of wells may be drilled on these prospects. The Company owns approximate working
interests in these prospects ranging from 10.41% to 15.51% and a third party has
assumed  operations.  Funds to date for this project have been  provided by cash
flows from operations.

The Company is reviewing several other projects in which it may participate. The
cost of such projects  would be funded,  to the extent  possible,  with existing
cash balances and cash flow from operations. The remainder may be funded through
borrowings on its bank credit facility discussed below.

At June 30,  2000,  the Company had working  capital of  approximately  $458,000
compared to working  capital of  approximately  $308,000 at March 31,  2000,  an
increase of  $150,000.  This is due  primarily  to higher oil and gas prices and
increased production.

The  Company  has a  revolving  credit  agreement  with  Bank of  America,  N.A.
("Bank"),  which  provides  for a credit  facility of  $3,000,000,  subject to a
borrowing base determination. The credit facility was amended on August 15, 1999
to increase the borrowing base to $2,200,000,  with scheduled monthly reductions
of the  available  borrowing  base of $28,000 per month  beginning  September 5,
1999,  and extend the maturity date to August 15, 2001. As of June 30, 2000, the
balance  outstanding  under this agreement was $1,150,000 and the borrowing base
was $1,870,000.  No required principal payments are anticipated for fiscal 2001.
A letter  of  credit  for  $50,000,  in lieu of a  plugging  bond with the Texas
Railroad  Commission  covering  the  properties  the Company  operates,  is also
outstanding under the facility. The borrowing base is subject to redetermination
on or about August 1, of each year.  Amounts  borrowed  under this agreement are
collateralized  by the  common  stock of Forman  and the  Company's  oil and gas
properties. Interest under this agreement is payable monthly at prime rate (9.5%
at June 30, 2000). This agreement  generally  restricts the Company's ability to
transfer assets or control of the Company, incur debt, extend credit, change the
nature of the Company's business,  substantially  change management personnel or
pay dividends.

                                       9
<PAGE>
The prices of natural gas and crude oil have fluctuated  significantly in recent
years as well as in recent  months.  Fluctuations  in price  have a  significant
impact on the Company's financial condition and liquidity.  However,  management
is of the  opinion  that cash  flow from  operations  and funds  available  from
financing will be sufficient to provide for its working capital requirements and
capital expenditures for the current fiscal year.

Results of Operations - Three Months Ended June 30, 2000 and 1999
-----------------------------------------------------------------

Net income for the quarter  ended June 30, 2000 was  $278,436.  The net loss for
the quarter ended June 30, 1999 was $35,923. Individual categories of income and
expense are discussed below.

Oil and gas sales  increased  from $332,502 for the first quarter of fiscal 2000
to $592,807 for the same period of fiscal 2001. This increase of $260,305 or 78%
resulted  primarily  from  higher oil and gas prices  and  increased  production
attributable to property  acquisitions  and the re-entry of a gas well discussed
above as well as remedial  work done.  Oil and gas  production  quantities  were
4,104  barrels  ("bbls") and 134,743  thousand  cubic feet ("mcf") for the first
quarter  of fiscal  2000 and 4,757 bbls and  142,807  mcf for  fiscal  2001,  an
increase of 653 bbls,  or 16%, and an increase of 8,064 mcf, or 6%.  Average gas
prices  increased  from $1.98 per mcf for the first  quarter  of fiscal  2000 to
$3.25 per mcf for fiscal 2001,  while average oil prices  increased  from $15.97
per bbl for fiscal 2000 to $26.90 per bbl for fiscal 2001.

Production costs decreased from $175,109 for the first quarter of fiscal 2000 to
$91,293  for the same  period of fiscal  2001,  a  decrease  of  $83,816 or 48%.
Nonrecurring remedial repairs and plugging costs in fiscal 2000 account for this
decrease.

General and administrative expenses increased from $62,910 for the first quarter
of fiscal  2000 to $85,042 for the same  period of fiscal  2001,  an increase of
$22,132 or 35%. Increases in salary costs and contract services  ($11,394),  and
increases and changes in the timing of engineering  services  ($12,454)  account
for this.

Depreciation,  depletion and amortization  based on production and other methods
decreased from $106,298 for the first quarter of fiscal 2000 to $112,000 for the
same period of fiscal 2001, an increase of $5,702 or 5%.

Interest expense  increased from $25,692 for the first quarter of fiscal 2000 to
$27,822  for the same  period of fiscal  2001,  an increase of $2,130 or 8%, due
primarily  to higher  interest  rates,  offset in part by  decreased  borrowings
outstanding.

           Quantitative and Qualitative Disclosures About Market Risk

All of the Company's financial instruments are for purposes other than trading.

     Interest Rate Risk. The following table  summarizes  fiscal year maturities
for the Company's  variable rate bank debt,  which is tied to prime rate. If the
interest  rate  on  the  Company's  bank  debt  increases  or  decreases  by one
percentage  point,  the Company's  annual pretax income would change by $11,500.

                                       10
<PAGE>
                                        2001          2002          2003
                                     ----------    ----------    ----------
    Variable rate bank debt          $   --        $1,150,000    $   --

     Credit Risk.  Credit risk is the risk of loss as a result of nonperformance
by counterparties of their contractual obligations. The Company's primary credit
risk is related to oil and gas  production  sold to various  purchasers  and the
receivables  are  generally  uncollateralized.  At June 30, 2000,  the Company's
largest  credit risk  associated  with any single  purchaser  was  $72,070.  The
Company has not experienced any significant credit losses.

     Volatility of Oil and Gas Prices. The Company's revenues, operating results
and future rate of growth are  dependent  upon the prices  received  for oil and
gas. Historically, the markets for oil and gas have been volatile and are likely
to continue to be so in the future.  Various  factors  beyond the control of the
Company affect the price of oil and gas,  including but not limited to worldwide
and  domestic  supplies  of oil and  gas,  the  ability  of the  members  of the
Organization of Petroleum Exporting Countries to agree to and maintain oil price
and   production   controls,   political   instability   or  armed  conflict  in
oil-producing  regions,  the price and level of  foreign  imports,  the level of
consumer  demand,   the  price  and  availability  of  alternative   fuels,  the
availability  of pipeline  capacity,  weather  conditions,  domestic and foreign
governmental  regulation and the overall economic  environment.  Any significant
decline in prices would  adversely  affect the Company's  revenues and operating
income and may require a reduction in the carrying  value of the  Company's  oil
and gas  properties.  If the  average  oil price for the first  three  months of
fiscal 2001 had  increased or decreased  by one cent per barrel,  the  Company's
pretax  income would have changed by $48. If the average gas price for the first
three months of fiscal 2001 had  increased or decreased by one cent per mcf, the
Company's pretax income would have changed by $1,428.

PART II - OTHER INFORMATION

Item 1.  Legal proceedings

                  None.

Item 2.  Changes in securities

                  None.

Item 3.  Defaults upon senior securities

                  None.

Item 4.  Submission of matters to a vote of security holders

                  None.

Item 5.  Other Information

                  None.

Item 6.  Exhibits and Reports on Form 8-K

                  None.

                                       11
<PAGE>
                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                             MEXCO ENERGY CORPORATION
                                             (Registrant)



Dated: August 9, 2000                       /s/ Nicholas C. Taylor
                                             ------------------------------
                                                 Nicholas C. Taylor
                                                 President



Dated: August 9, 2000                       /s/ Linda J. Crass
                                             ------------------------------
                                                 Linda J. Crass
                                                 Treasurer, Controller, and
                                                 Assistant Secretary


                                       12