OKLAHOMA CITY, April 3, 2020 /PRNewswire/ -- PANHANDLE OIL AND
GAS INC. (NYSE: PHX) the "Company," today announced that
Robert E. Robotti is retiring from
the Company's Board of Directors effective May 1, 2020. Mr. Robotti has served on
Panhandle's Board of Directors since 2004. As a result of Mr.
Robotti's retirement, the Company's Board of Directors has decided
to reduce its size from six directors to five directors at this
time and will not fill the vacancy created by Mr. Robotti's
departure.
Mr. Robotti said, "After serving on the board for 16 years, I
will be stepping off the Panhandle Board effective May 1, 2020. I step off confident in Panhandle's
renewed focus on its historic mineral ownership. This is
particularly important to me as I continue to be a significant
shareholder in Panhandle."
"I want to thank Bob for his years of dedication to Panhandle
and wish him all the best in his future endeavors. We will miss
Bob's analytical perspective and market wisdom that he brought to
the Board," said Chad Stephens,
Panhandle's CEO.
Panhandle Oil and Gas Inc. (NYSE:
PHX) Oklahoma
City-based, Panhandle Oil and Gas Inc. is an oil and natural
gas mineral company with a strategy to proactively pursue the
acquisition of additional minerals in our core areas of focus.
Panhandle owns approximately 258,000 net mineral acres principally
located in Oklahoma, North Dakota, Texas, New
Mexico and Arkansas.
Approximately 71% of this mineral count is unleased and
undeveloped. Additional information on the Company can be found at
www.panhandleoilandgas.com.
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SOURCE PANHANDLE OIL AND GAS INC.