Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

GHK Royalty LLC

2. Date of Event Requiring Statement (MM/DD/YYYY) 9/1/2020

3. Issuer Name and Ticker or Trading Symbol

PANHANDLE OIL & GAS INC [PHX]

(Last) (First) (Middle)

6305 WATERFORD BLVD, #470

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___X___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

OKLAHOMA CITY, OK 73118

(City) (State) (Zip)

5. If Amendment, Date Original Filed(MM/DD/YYYY)

6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Panhandle Class A Common	3500000	D
Panhandle Class A Common	177795	D

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

Remarks:
1. Robert A. Hefner III is a Manager of GHK Royalty LLC. GHK Royalty LLC is the direct beneficial owner of the 3,500,000 shares. Robert A. Hefner III is the indirect beneficial owner of the 3,500,000 shares, as he owns 100% of GHK Royalty LLC.
2. These securities are owned directly by Robert A. Hefner III.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
GHK Royalty LLC 6305 WATERFORD BLVD #470 OKLAHOMA CITY, OK 73118		X

Signatures
GHK Royalty LLC; by Robert A. Hefner III, Manager		9/10/2020
^**Signature of Reporting Person		Date
Robert A. Hefner III		9/10/2020
^**Signature of Reporting Person		Date