On March 9, 2020, Panhandle Oil and Gas Inc. (the “Company”) accepted the resignation of Robb P. Winfield from his positions as the Vice President, Chief Financial Officer, Controller, and Corporate Secretary and as an employee of the Company, with his last day at the Company being March 13, 2020. Mr. Winfield had served as an officer of the Company since 2009. In his resignation letter, Mr. Winfield stated that he had no disagreements with the Company, its management, the Board, any committee of the Board or with respect to its financial reporting.

In connection with Mr. Winfield's departure, the Company's board of directors (the “Board”) appointed Raphael D'Amico as the Company's Chief Financial Officer, effective March 9, 2020. Mr. D'Amico, age 44, currently serves as the Company's Vice President, Corporate Development and Investor Relations, a position he has held since joining the Company on January 2, 2019. In addition to assuming the position of Chief Financial Officer of the Company, Mr. D'Amico will continue to serve the Company as Vice President, Corporate Development and Investor Relations.