a spacer panel is incorporated into building walls to drain accumulated moisture from the wall structure . the spacer panel is formed with spacer members that project on opposing sides of a central planar web member . each spacer member is formed independently and has a planar portion extending around the spacer member to provide a location for the insertion of apertures to allow moisture to pass from one side of the panel to the other . each spacer member includes a planar surface that facilitates an application of adhesive for attachment of a barrier member thereto . the spacer members can be oriented in a herringbone pattern alternating on opposing sides of the central web member . the spacer members can be formed as a circular projection extending on one side of the central web with a truncated conical member projecting to the opposing side of the central web from the circular projection .