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)


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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)



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