0000950123-11-092401.txt : 20111027 0000950123-11-092401.hdr.sgml : 20111027 20111027142103 ACCESSION NUMBER: 0000950123-11-092401 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111027 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111027 DATE AS OF CHANGE: 20111027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PANHANDLE OIL & GAS INC CENTRAL INDEX KEY: 0000315131 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 731055775 STATE OF INCORPORATION: OK FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31759 FILM NUMBER: 111161379 BUSINESS ADDRESS: STREET 1: 5400 NW GRAND BLVD STREET 2: GRAND CENTRE STE 210 CITY: OKLAHOMA CITY STATE: OK ZIP: 73112 BUSINESS PHONE: 4059481560 MAIL ADDRESS: STREET 1: 5400 N GRAND BLVD STREET 2: GRAND CENTRE STE 300 CITY: OKLAHOMA CITY STATE: OK ZIP: 73112 FORMER COMPANY: FORMER CONFORMED NAME: PANHANDLE ROYALTY CO DATE OF NAME CHANGE: 19920703 8-K 1 d85351e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934.
Date of Report: (Date of Earliest Event Reported) October 27, 2011
PANHANDLE OIL AND GAS INC.
(Exact name of registrant as specified in its charter)
         
OKLAHOMA
(State or other jurisdiction
of incorporation) 		  001-31759
(Commission File Number) 		  73-1055775
(I.R.S. Employer
Identification No.)
         
5400 North Grand Blvd.,
Suite 300
Oklahoma City, OK
(Address of principal executive offices) 		      73112
(Zip code)
(405) 948-1560
(Registrant’s telephone number including area code)
Not Applicable
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act
 
 

 

 

ITEM 2.01   Enters Into A Material Definitive Agreement
Panhandle Oil and Gas Inc. (the “Company”), on October 25, 2011, closed on the acquisition of certain Fayetteville assets first reported in an October 4, 2011 press release and on Form 8-K filed with the Securities and Exchange Commission on October 4, 2011, reporting the signing of an intent to purchase the assets. The purchase price was $17,500,000 with an effective date of September 1, 2011.
The assets were acquired from a private seller and include interests in 193 producing non-operated natural gas wells and 1,531 acres of leasehold located in Van Buren, Conway and Cleburne Counties, Arkansas, in the core of the Fayetteville Shale. There are approximately 240 future infill drilling locations identified on the leasehold. Estimated net production from the existing producing wells is projected to be approximately 2.7 Mmcf per day in the fourth calendar quarter. The transaction was funded by utilizing cash on hand and the Company’s bank credit facility.
ITEM 9.01   Financial Statements and Exhibits
(d) Exhibits
     
Exhibit    
Number   Description
99.1
  Press Release issued by Panhandle Oil and Gas Inc., dated October 27, 2011
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  PANHANDLE OIL AND GAS INC.
 		  
  By:   /s/ Michael C. Coffman    
    Michael C. Coffman,   
    President and CEO   
 
DATE: October 27, 2011

 

 

EXHIBIT INDEX
     
Exhibit    
Number   Description
99.1
  Press Release issued by Panhandle Oil and Gas Inc., dated October 27, 2011

 

EX-99.1 2 d85351exv99w1.htm EX-99.1 exv99w1
EXHIBIT 99.1
PANHANDLE OIL AND GAS INC.
Reports Closing of Purchase of Fayetteville Assets
OKLAHOMA CITY, Oct. 27, 2011 — PR Newswire — PANHANDLE OIL AND GAS INC. (NYSE: PHX) today reported that on October 25, 2011, it closed on the acquisition of certain Fayetteville assets first reported in an October 4, 2011 press release reporting the signing of an intent to purchase the assets. The purchase price was $17,500,000.
The assets were acquired from a private seller and include interests in 193 producing non-operated natural gas wells and 1,531 acres of leasehold located in Van Buren, Conway and Cleburne Counties, Arkansas, in the core of the Fayetteville Shale. There are approximately 240 future infill drilling locations identified on the leasehold. Estimated net production from the existing producing wells is projected to be approximately 2.7 Mmcf per day in the fourth calendar quarter. The transaction was funded by utilizing cash on hand and the Company’s bank credit facility.
Panhandle Oil and Gas Inc. (NYSE-PHX) is engaged in the exploration for and production of natural gas and oil. Additional information on the Company can be found at www.panhandleoilandgas.com.