MEXCO ENERGY CORP — Director's Dealing 2004

Jul 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MEXCO ENERGY CORP (MXC)
CIK: 0000066418
Period of Report: 2004-07-02

Reporting Person: GRAHAM THOMAS JR (Director, Chairman of the Board)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-07-02	Stock Options (right to buy)	$6.70	A	20000	Acquired	2014-07-02	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	118600	Direct
Common Stock	7000	Indirect

Footnotes

F1: Options granted pursuant to Mexco Energy Corporation 1997 Employee Incentive Stock Plan.

F2: The shares vest 1/4 each year for four consecutive years (1/4 in 2005, 1/4 in 2006, 1/4 in 2007 and 1/4 in 2008).

F3: Of these 60,000 shares, 37,500 shares are vested and can be acquired at the following prices: 10,000 shares @ $7.75 per
share, 10,000 shares @ $7.50 per share, 10,000 shares @ $5.25 per share and 7,500 shares @ $6.75 per share.