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 * SMITH JEFFRY 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) Consulting Geologist (Last) (First) (Middle) P. O. BOX 1374 3. Date of Earliest Transaction (Month/Day/Year) 09/04/2009 (Street) MIDLAND, TX US 79702 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 MXC Common Stock 09/04/2009   M   500 A $ 7 10,719 D   MXC Common Stock 09/04/2009   S   500 D $ 11 10,219 (1) D

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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

MXC Common Stock

$ 7

09/04/2009

M

500

11/20/2004

11/20/2013

MXC Common Stock

500

$ 7

20,109 (2)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SMITH JEFFRY A P. O. BOX 1374 MIDLAND, TX US 79702				Consulting Geologist

Signatures

Jeffry A. Smith		09/07/2009
**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 beneficial holdings after the sale total 10,219 shares which include vested options to acquire 10,109 shares of the Registrant's Common Stock ($0.50 par value) at the following prices: 5,709 shares @ $8.24 per share and 4,400 shares @ $7.00 per share.
(2)	The shares vest 1/4 each year from grant date for four consecutive years as follows: 4,400 options @ $7.00 were granted on 11/20/2003 and expire on 11/20/2013; 8,209 options @ $8.24 were granted on 7/12/2006 and expire on 7/12/2011; 7,500 options @ $4.35 were granted on 12/10/2007 and expire on 12/10/2012. Of these 20,109 shares, 10,109 are vested.

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