____________________
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 5)
MEXCO ENERGY CORPORATION
(Name of Issuer)
__________
Common Stock, $0.50 Par Value Per Share
(Title of Class of Securities)
__________
592770101
(CUSIP Number)
Catherine B. Taylor
3300 North "A" Street
Building 2, Suite 102
Midland, Texas 79705
(Name, Address and Telephone Number
of Person Authorized to Receive Notices
and Communications)
__________
June 17, 1999
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
this acquisition that is the subject of this Schedule 13D, and is filing this
Schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box: [ ]
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act.
<PAGE>
CUSIP NO: 592770101
AMENDMENT NO. 5 TO SCHEDULE 13D
1 Name of Reporting Person; S.S. or IRS Identification Number
Catherine B. Taylor SSN ###-##-####
2 Check the Appropriate Box If A Member of a Group
(a) [ ]
(b) [ ]
3 SEC Use Only
4 Source of Funds
PF
5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Item
2(d) or 2(e)
[ ]
6 Citizenship or Place of Organization
United States of America
7 Sole Voting Power
269,942
8 Shared Voting Power
0
9 Sole Dispositive Power
269,942
10 Shared Dispositive Power
0
11 Aggregate Amount Beneficially Owned by Each Reporting Person
269,942
12 Check Box If The Aggregate Amount in Row (11) Excludes Certain Shares
[ X ]
13 Percent of Class Represented by Amount in Row (11)
16.63%
14 Type of Reporting Person
IN
<PAGE>
SCHEDULE 13D
AMENDMENT NUMBER 5
Unless otherwise defined or indicated in this Amendment No. 5, capitalized
terms which are used herein and are defined in the Schedule 13D filed April 27,
1983 ("Original 13D") shall have the meanings assigned them in the Original 13D.
All information herein with respect to Mexco Energy Corporation, a Colorado
corporation, is to the best knowledge and belief of the Reporting Person, as
defined herein.
ITEM 1. SECURITY AND ISSUER
This Amendment is filed by Ms. Catherine B. Taylor, an individual residing
in Midland, Midland County, Texas. This Amendment relates to the $0.50 par value
common stock of MEXCO ENERGY CORPORATION (herein called the "Issuer"), a
Colorado corporation maintaining its principal executive offices at 214 W. Texas
Avenue, Suite 1101, Midland, Texas, 79701. The Issuer's principal executive
offices were formerly at 906 Western United Life Building, Midland, Texas,
79701.
The Issuer's corporate name was formerly MILLER OIL COMPANY. In April,
1980, the Shareholders of the issuer adopted a proposal to amend the Articles of
Incorporation ("Articles") of the issuer to change the corporate name to that
indicated above. Also, at that time, the Shareholders of the Issuer approved
amendments to the Articles, which resulted in a one-for-fifty reverse stock
split of the Issuer's common stock ($0.50 par value). The corporate name change
and reverse stock split became effective April 30, 1980, upon the filing of the
Amendment to the Articles of Incorporation with the Colorado Secretary of State.
ITEM 2. IDENTITY AND BACKGROUND
(a) - (c) Catherine B. Taylor, whose address is #20 Hialeah Drive, Midland,
Texas, 79705, is the former spouse of Nicholas C. Taylor who is the President of
Mexco Energy Corporation.
(d) Criminal Proceedings: During the last five (5) years, the Reporting
Person has not been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) Civil Proceedings Involving Violations of Federal or State Securities
Laws: During the last five (5) years, the Reporting Person has not been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction that resulted in their being subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, Federal and State Securities Laws or finding any violation with
respect to such laws.
(f) Citizenship: The Reporting Person is a citizen of the United States of
America.
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On April 18, 1983, Nicholas C. Taylor made his initial purchase of shares
of the Issuer purchasing FIVE HUNDRED SEVENTY SEVEN THOUSAND FIVE HUNDRED FIFTY
(577,550) shares of the Issuer's common stock for a purchase price of FOUR
HUNDRED FIFTY THOUSAND DOLLARS ($450,000.00). Subsequently, Mr. Taylor acquired
additional shares of the Issuer's common stock in open market transaction and in
exchange for oil and gas properties. Also, in a separate transaction on January
1, 1993, Nicholas C. Taylor and Catherine B. Taylor acquired an additional
21,000 shares of the Issuer's common stock in exchange for oil and gas
properties. Mr. Taylor did not vote on any of the transactions involving the
exchange of stock for oil and gas properties and the vote of the other directors
of the Issuer was based on engineering or economic studies as to value of such
properties. Mr. Taylor purchased 20,000 shares of the Issuer's common stock on
May 23, 1997, from the Issuer pursuant to a private placement of the Issuer's
common stock. Mr. Taylor paid ONE HUNDRED THOUSAND DOLLARS ($100,000.00) ($5.00
per share) for such stock from his personal funds. Mr. Taylor also acquired
30,000 shares of the Issuer's common stock for his minor daughter, Christie
Taylor, under the Uniform Gift to Minors Act for a consideration of ONE HUNDRED
FIFTY THOUSAND DOLLARS ($150,000.00) paid from her personal funds. On December
27, 1997 Mr. Taylor gifted 1,000 shares each to their three children. All
1,079,770 shares (excluding 31,000 shares held as custodian for the minor
daughter) were held by Nicholas C. Taylor and Catherine B. Taylor as community
property by the couple until their divorce on April 27, 1999. Nicholas C. Taylor
and Catherine B. Taylor disclaim any beneficial ownership of 45,000 shares
purchased for $5.00 per share on May 23, 1997, from the Issuer, also pursuant to
the private placement and 1,000 shares, gifted on December 27, 1997, owned by
each of their two adult children.
ITEM 4. PURPOSE OF TRANSACTION
All of these shares of common stock were acquired by Mr. Taylor for
investment with the view to capital appreciation. The Reporting Person has no
present plans or proposals to acquire or dispose of any securities of the
Issuer. The Reporting Person has present plans and/or proposals which relate to
or would result in certain events or actions described in Item 4 of Schedule 13D
or which may be declared to be similar thereto. As a result his divorce from
Catherine B. Taylor, Nicholas C. Taylor and Catherine B. Taylor have signed and
entered into a Divorce Decree and Agreement Incident to Divorce incorporated
therein, whereby as part of a larger community property settlement agreement,
after the Divorce Order has been rendered, Nicholas C. Taylor will now own as
his own separate property 809,828 shares of the original 1,079,770 shares of
Issuer acquired by Nicholas C. Taylor and Catherine B. Taylor as community
property, 21,000 shares of which were in the name of Catherine B. Taylor and the
balance in the name of Nicholas C. Taylor. Catherine B. Taylor will now own as
her separate property 269,942 shares of the original 1,079,770 shares of Issuer
acquired by Nicholas C. Taylor and Catherine B. Taylor, including the 21, 000
shares already in her name. The 31,000 shares of Issuer held by Nicholas C.
Taylor for his minor daughter, Christie Taylor, will now be held by Texas Gulf
Bank, N.A., of Freeport, Texas, for trust purposes to benefit Christie Taylor.
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) - (c) Nicholas C. Taylor owns individually EIGHT HUNDRED NINE THOUSAND
EIGHT HUNDRED TWENTY EIGHT (809,828) shares of common stock of the Issuer.
Catherine B. Taylor owns individually TWO HUNDRED SIXTY NINE THOUSAND NINE
HUNDRED FORTY TWO (269,942) shares of Issuer. Christie Taylor owns beneficially
and in trust for her benefit THIRTY ONE THOUSAND shares of Issuer. Catherine B.
Taylor's ownership interest in Issuer represents approximately 16.6% of the
common stock of the Issuer. Nicholas C. Taylor and Catherine B. Taylor each have
the sole power to vote or dispose of their respective shares of common stock in
Issuer. Texas Gulf Bank, N.A., of Freeport, as trustee for Christie Taylor under
the Texas Trust Code, holds an additional THIRTY ONE THOUSAND (31,000) shares of
common stock, over which it has sole voting and dispositive power.
(d) Right to Receive Dividends or Sales Proceeds: No persons or entities,
other than Nicholas C. Taylor, Catherine B. Taylor, and Texas Gulf Bank, N.A.,
of Freeport for the benefit of Christie Taylor, are known to have the right to
receive, or the power to direct, the receipt of dividends or sale proceeds with
respect to the securities for whose sale this statement is filed.
(e) Termination of Beneficial Ownership: On June 17, 1999, pursuant to a
Divorce Decree and Agreement Incident to Divorce dated April 27,1999
incorporated therein, Nicholas C. Taylor ceased to be beneficial co-owner of TWO
HUNDRED SIXTY NINE THOUSAND NINE HUNDRED FORTY TWO (269,942) shares of Issuer,
and Catherine B. Taylor ceased to be beneficial co-owner of EIGHT HUNDRED
THOUSAND EIGHT HUNDRED TWENTY EIGHT (809,828) shares of common stock of the
Issuer.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
DATED: June 17, 1999
/s/ CATHERINE B. TAYLOR
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CATHERINE B. TAYLOR
