SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 15, 2002 THE EXPLORATION COMPANY OF DELAWARE, INC. (Exact name of registrant as specified in its charter) Delaware 0-9120 84-0793089 (State of incorporation) (Commission File Number) (IRS Employer Identification No.) 500 North Loop 1604 East, Suite 250 San Antonio, Texas 78232 (Address of principal executive offices) (Zip Code) (210) 496-5300 (Registrant's telephone number, including area code) 1 Item 5. Other Events. On May 15, 2002, The Exploration Company ("TXCO") completed the acquisition of The Maverick Pipeline System from Aquila Southwest Pipeline Corporation for a total purchase price of $4.9 million. TXCO's 80% interest ($3.9 million) was purchased through its newly formed Maverick-Dimmit Pipeline, Ltd. partnership. The remaining 20% of the partnership is held by an unaffiliated private energy concern. TXCO funded the acquisition from cash available from the closing of its recent $15 million private placement. The assets include a 69-mile natural gas pipeline from approximately 12 miles north of Eagle Pass, Texas in Maverick County to Carrizo Springs, Texas in Dimmit County. The terminus is the El Paso Energy Field Services delivery point. Also included is a compressor station with three compressors and three dehydrators which allow the system to have maximum deliverable capacity of 35 MMcf/d of which 50 percent is currently filled. Adding this system to TXCO's Maverick Basin infrastructure now gives the company control of approximately 80 miles of pipeline in the Basin. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: May 30, 2002 THE EXPLORATION COMPANY OF DELAWARE, INC. /s/ Roberto R. Thomae Roberto R. Thomae Chief Financial Officer Secretary/Treasurer (Principal Accounting Officer) 2