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): January 12, 2001


                            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 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.  This agreement  prohibits,  without prior written
consent, the use of assets for the purchase,  redemption or retirement of shares
of the Company's own stock. The Bank has given the Company written permission to
repurchase  up to 25,000  shares of its common  stock for the fiscal  year ended
March 31, 2001,  and the Board of Directors  of the Company has  authorized  the
President and Treasurer of the Company,  or such officers as they designate,  to
repurchase shares from time to time as stock prices are deemed favorable.

     On January 12, 2001 the Company acquired,  in a private transaction,  1,906
shares of its common stock at $7.00 per share,  and  subsequently  retired those
shares.

     In 2000, Catherine B. Taylor, a former principal shareholder of the Company
made gifts to five charitable organizations of substantially all of her stock in
the Company.




     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:  March 9, 2001

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