Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
YANKO WILLIAM A
   2. Issuer Name and Ticker or Trading Symbol
MEXCO ENERGY CORP [MXC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
directors' spouse
(Last)
(First)
(Middle)
4109 DEVON DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
08/31/2006
(Street)

EDMOND, OK US 73034		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   10,000 A $ 5.25 10,944 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   2,200 D $ 6.422 8,744 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   2,100 D $ 6.4 6,644 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   2,000 D $ 6.39 4,644 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   1,000 D $ 6.708 3,644 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   600 D $ 6.85 3,044 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   500 D $ 6.42 2,544 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   400 D $ 6.36 2,144 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   300 D $ 6.6 1,844 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   300 D $ 6.72 1,544 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   300 D $ 6.68 1,244 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   200 D $ 6.35 1,044 D  
Mexco Energy-Common Stock 08/31/2006 08/31/2006 M   100 D $ 6.46 944 (1) D (1)  
Mexco Energy-Common Stock               30,668 (2) I (2) owned by spouse

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Mexco Energy-Common Stock $ 5.25 08/31/2006 08/31/2006 M     10,000 03/21/2004 10/15/2006 Mexco Energy Common Stock 10,000 $ 5.25 10,000 (3) D  
Mexco Energy-Common Stock (4)               (5)   (5) Mexco Energy Common Stock 50,000   50,000 (4) I owned by spouse

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
YANKO WILLIAM A
4109 DEVON DRIVE
EDMOND, OK US 73034		       directors' spouse

Signatures

 /s/ William A. Yanko   09/12/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Direct benefical ownership of non-derivative securities owned by Mr. Yanko total 944 shares of the Registrant's Common Stock ($0.50 par value).
(2) Indirect beneficial ownership of non-derivative securities total 30,668 shares of the Registrant's Common Stock ($0.50 par value) owned by Mr. Yanko's spouse, Donna Gail Yanko. Ms. Yanko is a director and employee of Mexco Energy Corporation.
(3) Direct beneficial ownership of stock options (right to buy) total 10,000 shares of the Registrant's Common Stock ($0.50 par value), which can be acquired at $6.75 per share.
(4) Indirect beneficial ownership of stock options (right to buy) is 50,000 shares owned by Mr. Yanko's spouse, Donna Gail Yanko. Of these 50,000 shares, 43,750 shares are vested and can be acquired at the following prices: 10,000 shares @ $7.75 per share, 10,000 shares @ $7.50 per share, 10,000 shares @ $5.25 per share, 10,000 shares @ $6.75 per share and 3,750 shares @ $6.00 per share.
(5) The shares vest 1/4 each year from grant date for four consecutive years as follows: 10,000 options @ $7.75 were granted on 4/2/98 and expire 4/2/08; 10,000 options @ $7.50 were granted on 3/3/99 and expire 3/3/09; 10,000 options @ $5.25 were granted on 3/21/00 and expire on 3/21/10; 10,000 options @ $6.75 were granted on 1/23/01 and expire on 1/23/11; 5,000 options @ $6.00 were granted on 7/10/03 and expire on 7/10/13; 5,000 options @ $8.24 on 7/12/06 and expire on 7/12/11.

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