U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
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).
1. Name and Address of Reporting Person
GOSE, MARGARET ANN
HCR BOX 1010 - HWY212 MM86
ROBERTS, MT 59070
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
06/30/99
If Amendment, Date of Original (Month/Year)
Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner ( ) Officer (give title below)
(x) Other (specify below)
SPOUSE OF DIRECTOR
<TABLE>
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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 |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, $0.01 par |6/22/9|P [1| |12500 |A |1.025 |309908 |I |BY RETAMCO OPERATING |
value |9 |] | | | | | | | |
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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 | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price 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 |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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Explanation of Responses:
1. Ms. Margaret Ann Gose, the spouse of Mr. Stephen M. Gose, Jr., previously
owned 0% of outstanding stock of Retamco Operating, Inc. This corporation owned
1,189,630 shares of TXCO common stock prior to the gift on December 31, 1997, of
25% of Retamco Operating, Inc. stock by Mr. Thomas H. Gose to Ms. Margaret Ann
Gose. An additional 25% of Retamco Operating, Inc. stock was gifted to Mr.
Stephen M. Gose, Jr. , the spouse of Margaret Ann Gose and is reported on a
separate Form 4. The 12,500 shares acquired on June 22, 1999 represent
Margaret Ann Gose's 25% interest in the 50,000 shares of TXCO common stock
purchased by Retamco Operating, Inc.
Margaret Ann Gose
SIGNATURE OF REPORTING PERSON
/Signature/
By: Roberto R. Thomae, per power of attorney
DATE
7/7/99
