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SUBSEQUENT EVENTS | 3 Months Ended
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Dec. 31, 2014
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | 16.SUBSEQUENT EVENTS In January 2015, the real estate loan was amended from monthly principal and interest payments to monthly interest-only payments effective February 1, 2015. All other terms of the loan remained unchanged. On January 30, 2015, Kaupulehu Developments received a percentage of sales payment of $640,000 from the sale of two lots within Phase II of Increment I. Financial results from the receipt of this payment will be reflected in Barnwell’s quarter ending March 31, 2015. In January 2015, there was an oil and salt water spill at one of our operated oil properties in Alberta. Total clean up expenses are expected to be approximately $880,000. Barnwell’s working interest in the well is 58% and we expect to recover monies from the other working interest owners for their share of the costs. We have notified our insurance carrier of our intent to file a claim under our policy which has a deductible of approximately $220,000. The estimated impact of the spill will be reflected in Barnwell’s quarter ending March 31, 2015.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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