Panhandle Royalty Company
FORM 8-K
December 16, 2005
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
December 16, 2005
Date of Report: (Date of Earliest Event Reported)
PANHANDLE ROYALTY COMPANY
(Exact name of registrant as specified in its charter)
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| OKLAHOMA
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0-9116
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73-1055775 |
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| (State of Incorporation)
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(Commission File)
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(I.R.S. Employer
Identification No.) |
Grand Centre Suite 305,
5400 North Grand Blvd.,
Oklahoma City, OK 73112
(Address of principal executive offices)
(
405) 948-1560
Registrant’s telephone number including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Panhandle Royalty Company
FORM 8-K
December 16, 2005
ITEM 5.02 (b) (c) OFFICER RETIREMENT & APPOINTMENT OF NEW OFFICERS
This Form 8-K contains the Company’s press release dated December 16, 2005, announcing
the naming of co-presidents.
OKLAHOMA CITY, OK— PANHANDLE ROYALTY COMPANY (AMEX-PHX) Board of Directors has
selected Co-Presidents to replace HW Peace II who retires as President, CEO and a Director on March
1, 2006. Ben D. Hare will be President/Chief Operating Officer and Michael C. Coffman will be
President/Chief Financial Officer. They are both currently Vice Presidents of Panhandle and hold
the positions of Chief Operating Officer and Chief Financial Officer respectively.
Michael C. Coffman — has been employed by Panhandle since 1990. He has held
the positions of vice president, treasurer and corporate secretary since that date, with his most
recent position being vice president and chief financial officer, treasurer and secretary. He
holds a Bachelor of Science degree in business administration from Oklahoma State University and is
a certified public accountant. Since 1975, he has worked in public accounting and as a financial
officer with companies involved in the oil and gas industry.
Ben D. Hare — served on the Board of Directors from 2002-2004 and became
Chief Operating Officer in May, 2004. Prior to joining Panhandle, he had been the owner of Cazador
Enterprises, LLC and a partner in Legends Exploration, LP both based in Houston, Texas. Mr. Hare
was previously employed by Atlantic Richfield Corporation and Vastar Resources, Inc. He has M.S.
and PH. D. degrees in Geology from the University of Oklahoma.
E. Chris Kauffman, the Company Board Chairman stated:
“After lengthy and due deliberation, the board of directors chose to name Michael C. Coffman
and Ben D. Hare as co-presidents. The board believes their knowledge, experience and tenure with
Panhandle will continue its growth into the future. Their background and devotion to the Company
made them the best candidates to jointly administer this 79 year-old exploration, production and
mineral business. The board of director’s looks forward to working with Michael and Ben and
believes their leadership will continue the outstanding growth of Panhandle Royalty Company.”
Panhandle Royalty Company (AMEX-PHX) is publicly held diversified mineral holding
company 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 Stock Exchange 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 19 other states.
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