SCHEDULE 13G/A 0001085946 XXXXXXXX LIVE 3 Common Stock, Par Value $0.01666 03/31/2025 0000315131 PHX MINERALS INC. 698477106 1320 South University Drive Suite 720 Fort Worth TX 76107 Rule 13d-1(c) HEFNER ROBERT A III X1 3043870 0 3043870 0 3043870 N 8.03 IN PHX MINERALS INC. 1320 South University Drive, Suite 720, Fort Worth, Texas, 76107 Robert A Hefner III 6305 Waterford Boulevard, Suite 470 Oklahoma City, OK 73118 United States of America 3,043,870 shares of Common Stock 8.03 3,043,870 shares of Common Stock 0 3,043,870 shares of Common Stock 0 Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. HEFNER ROBERT A III /s/ Robert A Hefner III 06/05/2025