Deferred Compensation Plan For Directors

12 Months Ended

Sep. 30, 2011

Employee Stock Ownership Plan/Deferred Compensation Plan For Directors [Abstract]

DEFERRED COMPENSATION PLAN FOR DIRECTORS

8. DEFERRED COMPENSATION PLAN FOR DIRECTORS

The Panhandle Oil and Gas Inc. Deferred Compensation Plan for Non-Employee Directors (the “Plan”) provides that each eligible director can individually elect to receive shares of Company stock rather than cash for Board and committee chair retainers, Board meeting fees and Board committee meeting fees. These shares are unissued and vest as earned. The shares are credited to each director’s deferred fee account at the closing market price of the stock on the date earned. As of September 30, 2011, there were 129,776 shares (114,323 shares at September 30, 2010) included in the Plan. The deferred balance outstanding at September 30, 2011 under the Plan was $2,665,583 ($2,222,127 at September 30, 2010). Expenses totaling $443,456, $359,628 and $256,688 were charged to the Company’s results of operations for the years ended September 30, 2011, 2010 and 2009, respectively, and are included in general and administrative expense in the accompanying Statement of Operations.