Insider Trades - REECE ROBERT A

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REECE ROBERT A: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
PANHANDLE OIL & GAS Director NYSE:PHX (historical quotes, profile, other insiders)	11-Aug-08 18-Aug-09	50,176 45,276 95,452	Direct Indirect Total

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
18-Aug-09 *4,000 PHX Sale at $26.78 - $27.31 per share.
(Proceeds of about $108,000)
19-Jun-09 *900 PHX Sale at $24 per share.
(Proceeds of $21,600)
11-Aug-08 4,000 PHX Sale at $39 per share.
(Proceeds of $156,000)

* Indicates that some (or all) shares are held indirectly (e.g. in a trust, by a spouse, etc.)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
18-Aug-09	*4,000	PHX	Sale at $26.78 - $27.31 per share. (Proceeds of about $108,000)
19-Jun-09	*900	PHX	Sale at $24 per share. (Proceeds of $21,600)
11-Aug-08	4,000	PHX	Sale at $39 per share. (Proceeds of $156,000)