Mexco Energy Corporation reported strong year over year increases in net income and sales in the first quarter of fiscal 2011, ending 6/30/2010. The increase was due mostly to higher realized prices for the sale of oil and natural gas.

Mexco Energy Corporation reported net income of $5,776 in the first quarter of fiscal 2011 compared to a net loss of $68,003, or ($0.04) per diluted share, in the corresponding quarter of fiscal 2010.

Mexco Energy Corporation reported sales of $836,393 in the first quarter of fiscal 2011 compared to sales of $658,177 in the corresponding quarter of fiscal 2010. The increase in revenues for Mexco Energy Corporation was led by higher prices received from the company’s customers for oil and natural gas sales during the first fiscal quarter of 2011.

Mexco Energy Corporation received $5.65 per thousand cubic feet equivalents during the quarter, compared to only $3.98 per thousand cubic feet equivalents in the first quarter of fiscal 2011. Mexco Energy Corporation reported a four percent increase in oil production and a thirteen percent decrease in natural gas production in the first quarter of fiscal 2011.

Mexco Energy Corporation is an exploration and production company that owns and operates oil and gas properties in ten states.

For more information on the company, go to www.mexcoenergy.com

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