OKLAHOMA CITY, Aug. 22, 2018– PANHANDLE OIL AND GAS INC. (NYSE: PHX) today reported that on August 21, 2018, it closed on the acquisition of the mineral acreage and producing oil and gas properties announced in its July 19, 2018, press release. The purchased assets are primarily located in the Bakken/Three Forks play in North Dakota. Activity on the acreage is ongoing with eight of the twenty previously drilled uncompleted Bakken/Three Forks wells (DUCs) now producing. The purchase price was $9 million and was funded utilizing the Company’s bank credit facility.

OKLAHOMA CITY, July 19, 2018– PANHANDLE OIL AND GAS INC. (NYSE: PHX) today reported that it has entered into a definitive agreement to acquire certain mineral acreage and producing oil and gas properties from a private seller for total consideration of $9,000,000 cash. The transaction is expected to close within 45 days and will have an effective date of June 1, 2018.