U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
(x) Form 3 Holdings Reported
(x) Form 4 Transactions Reported
1. Name and Address of Reporting Person
Foree, Jr., Robert L.
8235 Douglas Ave. LB 27
Dallas, TX 75225
2. Issuer Name and Ticker or Trading Symbol
THE EXPLORATION COMPANY TXCO
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
08/31/97
If Amendment, Date of Original (Month/Year)
Relationship of Reporting Person to Issuer (Check all applicable)
(x) Director ( ) 10% Owner ( ) Officer (give title below)
( ) Other (specify below)
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, $0.01 par value|5/4/94|L3 |1000 |A |4.00 |10000 |D | |
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Common Stock, $0.01 par value|10/10/|L3 |2000 |A |2.847 |10000 |D | |
|95 | | | | | | | |
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Common Stock, $0.01 par value|10/10/|L3 |1000 |A |2.847 |1000 |I [1] |by Pension Plan |
|95 | | | | | | | |
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Common Stock, $0.01 par value|2/21/9|P3 |6000 |A |6.11 |10000 |D | |
|7 | | | | | | | |
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Common Stock, $0.01 par value|10/22/|L4 |1000 |A |5.125 |10000 |D | |
|97 | | | | | | | |
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TOTAL SECURITIES HELD | | | | | |11000 | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incentive Stock Option |5.96875 |5/1/9|A4 |75000 | |5/1/9|5/1/0|Common |75000 | |0 | | |
| |7 [2]| | | |8 [3]|7 |Stock, $0.01| | | | | |
| | | | | | | |par value | | | | | |
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</TABLE>
Explanation of Responses:
1. 1000 shares purchased on 10/10/95 by Pension Plan for benefit of Mr. Foree.
2. Incentive stock options issed to new Directors of the Company. Vesting at 1/
3 of the option after each completed year of service.
3. Incentive stock options issed to new Directors of the Company. Vesting at 1/
3 of the option after each completed year of service.
ROBERT L. FOREE, JR.
SIGNATURE OF REPORTING PERSON
DATE
1/23/98
