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Panhandle Royalty Company ( AMEX-PHX )

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Panhandle royalty company amex phx

is engaged in the acquisition, ownership, management and development of its fee minerals. It actively participates in the exploration, drilling, production and acquisition of hydrocarbons on internally and externally generated prospects. Its stock is traded on the American StockExchange (AMEX) under the symbol PHX. The Company's office is located in Oklahoma City while its mineral holdings and production are situated in Oklahoma, New Mexico, Texas, and nineteen(19)

other states.

Panhandle Royalty Company(AMEX-PHX)


Panhandle royalty company amex phx

As of September 30, 2003

Panhandle’s Principal Properties consisted of perpetual ownership of 259,390 Net Mineral Acres within 1,709,054 Gross Acres. The Company also held Leases on 20,227 Net Acres of Minerals in Arkansas, Louisiana, Oklahoma, Kansas, Texas and New Mexico. Panhandle held Royalty and/or Working Interests in 4,898 total Oil or Gas Wells, including 98 Successfully Completed but Not Yet Producing Wells. There were 60 Wells in the process of being Drilled or Completed.


Net fee minerals owned

Net Fee Minerals Owned


Panhandle royalty company amex phx

Arkansas - 10,050

Colorado - 8,327

Florida - 6,901

Illinois - 1,068

Kansas - 3,122

Montana - 1,008

Nebraska - 1,319

North Dakota - 11,179

New Mexico - 57,456

Oklahoma - 113,146

South Dakota - 1,825

Texas - 43,085

Other States(10)- 906

259,390

Acres ofMineral InterestOwned Fee

As of 9/30/2003


P anhandle r oyalty c ompany financial d ata s heet s ummary

PANHANDLE ROYALTY COMPANYFinancialDATA SHEET SUMMARY

FISCALYearly %

2003Change

REVENUE$22,456,03865%

NETINCOME$ 5,961,622 1,638%

INCOME/SHARE$ 2.83 1,565%

OPERATINGCASHFLOW$13,198,368 76%

CAPITALEXP. (E&P)$ 9,195,916 32%

DIVIDENDS$ 582,797 1%

ASSETS$49,402,534 10%

SHAREHOLDERSEQUITY$22,527,685 33%

TOTALDEBT$14,666,665 (19)%

STOCKPRICE$ 22.69 56%

(FiscalYearEnd9/30/03)

PRICE EARNING RATIO(PE)8/1


Dollars paid in dividends

Dollars Paid In Dividends

One Time Extra Dividend


P anhandle r oyalty c ompany s ummary o perating d ata s heet

PANHANDLE ROYALTY COMPANYSUMMARY OPERATING DATA SHEET

FISCALYearly %

2003Change

PRODUCTION

OIL(BBLS)112,746(15)%

GAS(MCF)3,926,124 1%

BOE767,102 (2)%

MCFE4,602,600 (2)%

PROVED RESERVES

OIL(BBLS)835,978 (25)%

GAS(MCF)28,269,873 1%

BOE5,547,624 (4)%

MCFE33,285,741 (4)%

Undiscounted Value(M$)115,741,342 22%

10% Discounted(M$)75,497,304 23%

RESERVE PRICE

$/BBL27.39 (1)%

$/MCF4.4342%


Panhandle royalty company amex phx

Average per Year Increase

is 19% since 1991


Annual production

ANNUAL PRODUCTION

Average 17 % Increase

Per Year Over

1991 Base Year


Total proved reserves

Total Proved Reserves


Panhandle royalty company amex phx

Estimated Future Net Cash Flows From

Proved Oil & Gas Reserves


P anhandle r oyalty c ompany s ummary o perating d ata s heet1

PANHANDLE ROYALTY COMPANYSUMMARY OPERATING DATA SHEET

FISCALYearly %

2003Change

WORKING INTEREST WELLS

Pending & Scheduled17425%

Drilling129%

Testing249%

Producing(11 Oil, 102 Gas)1138%

P&A20(23)%

TOTALS29311%

ROYALTY INTEREST WELLS

Pending & Scheduled603%

Drilling3(57)%

Testing210%

Producing(14 Oil, 100 Gas)11430%

P&A1233%

TOTALS21015%

Combined Total Wells50313%

Gross Producing Wells4,89828%

Average Net Interest 2003 W.I.Completions = 4.88%W.I., 4.49%NRI

Average Net Interest 2003 R.I.Completions = 0.91%R.I.


Total gross producing wells

Total Gross Producing Wells


P anhandle r oyalty c ompany f inancial d ata s heet first quarter 2004

PANHANDLE ROYALTY COMPANYFINANCIAL DATA SHEET – FirstQuarter2004

FISCALYearly%

2004Change

REVENUE…………………….........................................…$ 4,973,46211%

NET INCOME…………………………………………….……$ 990,23352%

INCOME/SHARE …………………………………….$ .4752%

CASH FROM OPERATING

ACTIVITIES………………….............................….…….$ 3,791,53861%

CAPITAL EXPENDITURES…….…$ 1,992,211(11) %

BARRELSAVERAGEMCFAVERAGESOLD PRICESOLDPRICE

2004 QTR30,086 $ 30.30 934,032 $ 4.16

2003 QTR27,609$ 27.76 951,535 $ 3.82


Significant activity 2003

Significant Activity 2003


Panhandle royalty company end

PANHANDLE ROYALTY COMPANY…....End…….


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