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PANHANDLE OIL AND GAS INC. Reports Intent To Purchase Fayetteville Assets

Michael C. Coffman, President and CEO said, "We are pleased to be able to add this package of high quality properties to our existing holdings in the Fayetteville. These properties will increase our acreage holdings in the core area of the Fayetteville by 18 percent and the current production from the properties will increase total Panhandle production by approximately 12 percent.  In addition to this acquisition, we have purchased 1,160 net fee mineral acres in the Fayetteville over the last couple of months.  The total acreage added in the combined transactions amounts to 2,691 net acres, an addition of 37 percent to our net acreage holdings in the Fayetteville."

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

SOURCE Panhandle Oil and Gas Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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