8-K

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) July 16, 2007

PANHANDLE OIL AND GAS INC.

(Exact name of registrant as specified in its charter)

OKLAHOMA	001-31759	73-1055775
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer
of incorporation)		Identification No.)

5400 North Grand Blvd.,
Suite 300
Oklahoma City, OK	73112
(Address of principal executive offices)	(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

TABLE OF CONTENTS

Press Release

ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

Ben D. Hare will relinquish his duties as Co-President/Chief Operating Officer for health reasons on August 8, 2007. Michael C. Coffman, currently Co-President/Chief Financial Officer, will assume the title of President on August 8, 2007 and will be in charge of all executive responsibilities for the Company. Mr. Coffman has been with Panhandle for seventeen years in various executive positions. Mr. Coffman and Mr. Hare have served as Co-Presidents since March, 2006.

Mr. Hare will assume the title of Technical and Operations Advisor to the President, and will continue to serve as a member of the board of directors.

ITEM 7.01 Regulation FD Disclosures

On July 16, 2007 the Company issued a press release announcing the Changes in Management. The full text of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

In accordance with General Instruction B.2 to Form 8-K, the information contained in Exhibit 99.1 is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

     Exhibit

Number	Description
99.1	Press Release issued by Panhandle Oil and Gas Inc., dated July 16, 2007

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,
	Co-President and CFO

DATE: July 16, 2007

 2

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press Release issued by Panhandle Oil and Gas Inc., dated July 16, 2007

EX-99.1

EXHIBIT 99.1

PANHANDLE OIL AND GAS INC. REPORTS

CHANGES IN MANAGEMENT

OKLAHOMA CITY, OK– PANHANDLE OIL AND GAS INC. (AMEX-PHX) announced today that Ben D. Hare will relinquish his duties as Co-President/Chief Operating Officer for health reasons on August 8, 2007. Mr. Hare stated “My family and I have concluded that my personal needs and those of the Company are best served by focusing on my treatment and hopeful return to good health.”

Michael C. Coffman, currently Co-President/Chief Financial Officer, will assume the title of President on August 8, 2007 and will be in charge of all executive responsibilities for the Company. The Company will immediately begin a search for a new Chief Operating Officer. Mr. Coffman has been with Panhandle for seventeen years in various executive positions. Mr. Coffman and Mr. Hare have served as Co-Presidents since March, 2006.

Mr. Hare will assume the title of Technical and Operations Advisor to the President, and will continue to serve as a member of the board of directors. He joined Panhandle as a director in 2002, became Vice President/Chief Operating Officer in 2004 and was named Co-President in March 2006.

E. Chris Kauffman, Chairman of the Board stated “It is with sadness that the board will accept Mr. Hare’s relinquishment of his duties as Co-President/COO but we understand and fully support his decision to focus on his health. The Company is fortunate to have Co-Presidents and the board is certain the Company, under Michael’s leadership, will continue the positive momentum generated in the last sixteen months.”

Panhandle Oil and Gas Inc. (AMEX-PHX) is engaged in the exploration for and production of natural gas and oil. Additional information on the Company can be found on the internet at www.panhandleoilandgas.com.