EXHIBIT 99.1


                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO

                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Panhandle Royalty Company
("Panhandle") on Form 10-Q for the period ended December 31, 2002 as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I, H W
Peace II, Chief Executive Officer of Panhandle, certify, pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, that:

(1)      The Report fully complies with the requirements of Section 13(a) or
         15(d) of the Securities Exchange Act of 1934; and

(2)      The information contained in the Report fairly presents, in all
         material respects, the financial condition and results of operations of
         Panhandle.


/s/ H W Peace II
-----------------------


H W Peace II
President &
Chief Executive Officer

February 11, 2003