Abstract: A waferboard having at least one surface rendered water resistant and stabilized against wafer loss is disclosed. In the past heavy paper overlays have been used on panel surfaces. However, these paper overlays are specially treated non-porous paper and generally have to be specially applied by the addition of a glue. The waferboard of the present invention is formed of wood wafers bonded together in a hot press with adhesive resin and wax, and having a layer of porous paper bonded in the hot press to at least one surface of the waferboard. In one embodiment, the contours of the wood wafers on the surface of the waferboard are transmitted through the layer of porous paper.