FOR IMMEDIATE RELEASE

Michael C. Coffman 405.948.1560

PANHANDLE OIL AND GAS INC.

Announces Dividend Payment

OKLAHOMA CITY, Oct. 28, 2016- PANHANDLE OIL AND GAS INC. (NYSE: PHX)

announced that its Board of Directors, at its Oct. 26, 2016, meeting, approved a payment of the regular 4 cents per share quarterly dividend. The dividend will be payable on Dec. 7, 2016, to shareholders of record on Nov. 23, 2016.

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 atwww.panhandleoilandgas.com.

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5400 N. Grand Blvd., Suite 300 Oklahoma City, OK 73112 Ph. (405) 948-1560 Fax (405) 948-2038

Panhandle Oil and Gas Inc. published this content on 28 October 2016 and is solely responsible for the information contained herein.
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