Panhandle Oil & Gas Inc

(PHX)

The majority of Panhandle Oil and Gas Inc.’s revenues are derived from the production and sale of oil and natural gas. The Company’s oil and gas holdings, including its mineral acreage and its interests in producing wells, both working interests and royalty interests, are centered in Oklahoma. Panhandle does not operate any of its oil and gas properties.

Exploration on and development of the Company’s oil and gas properties are conducted in association with operating oil and gas companies, primarily large independent companies. The Company has been an active working interest participant for many years in wells drilled on the Company’s mineral acreage. The Company has become very active in unconventional resource projects on its mineral acreage in the southeast Oklahoma Woodford shale, the Arkansas Fayetteville shale, the Anadarko Cana Woodford shale and the horizontal Anadarko Basin Granite Wash play in western Oklahoma.