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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QrlcDo+mUyBU7qdWWZNw6HjKuy0NsNtHNpmVMF+/WzCu89zFuNtI++Lhvv1R6flN
 oy9C1TlP9vRd32Xhj06lkg==

<SEC-DOCUMENT>0001209191-05-013772.txt : 20050304
<SEC-HEADER>0001209191-05-013772.hdr.sgml : 20050304
<ACCEPTANCE-DATETIME>20050304114922
ACCESSION NUMBER:		0001209191-05-013772
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050225
FILED AS OF DATE:		20050304
DATE AS OF CHANGE:		20050304

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PANHANDLE ROYALTY CO
		CENTRAL INDEX KEY:			0000315131
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				731055775
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		5400 NW GRAND BLVD
		STREET 2:		GRAND CENTRE STE 210
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73112
		BUSINESS PHONE:		4059481560

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Spriestersbach Ben
		CENTRAL INDEX KEY:			0001319858

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31759
		FILM NUMBER:		05660309

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		405-948-1560

	MAIL ADDRESS:	
		STREET 1:		5400 N GRAND BLVD.
		STREET 2:		SUITE 305
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73112
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<DESCRIPTION>FORM 3 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-02-25</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000315131</issuerCik>
        <issuerName>PANHANDLE ROYALTY CO</issuerName>
        <issuerTradingSymbol>PHX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001319858</rptOwnerCik>
            <rptOwnerName>Spriestersbach Ben</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5400 N GRAND BLVD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 305</rptOwnerStreet2>
            <rptOwnerCity>OKLAHOMA CITY</rptOwnerCity>
            <rptOwnerState>OK</rptOwnerState>
            <rptOwnerZipCode>73112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Panhandle Royalty Company Class A Common</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1552</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes></footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Ben Spriestersbach</signatureName>
        <signatureDate>2005-03-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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