OKLAHOMA CITY, May 20 /PRNewswire-FirstCall/ -- PANHANDLE OIL
AND GAS INC. (NYSE: PHX) today announced that its Board of
Directors, at its May 19, 2010
meeting elected Darryl G. Smette to
the Company's Board of Directors. Employed by Devon since
1986, Mr. Smette was appointed Executive Vice President of
Marketing and Midstream for Devon Energy Corporation in 1999.
In this position, Mr. Smette has been part of an executive
team which guided that company through a series of strategic
acquisitions, which has increased the company's market value
substantially. Mr. Smette currently serves on the Executive
Committee and Capital Budget Committee of Devon. He holds a
Master's in Business Management degree from Wichita State University.
Michael C. Coffman, President and
CEO of Panhandle stated, "We are pleased and excited to add
Darryl Smette to our Board of
Directors. The expertise and experience he has accumulated during
his twenty plus years at Devon will be invaluable in helping guide
our Company as we continue our progression of Panhandle."
The Company also announced that the Board approved its regular
7 cents per share quarterly dividend
payment. The dividend will be payable on June 14, 2010 to shareholders of record on
June 1, 2010.
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 on the internet at
www.panhandleoilandgas.com.
SOURCE PANHANDLE OIL AND GAS INC.