<SEC-DOCUMENT>0000899681-18-000050.txt : 20180514
<SEC-HEADER>0000899681-18-000050.hdr.sgml : 20180514
<ACCEPTANCE-DATETIME>20180514112329
ACCESSION NUMBER:		0000899681-18-000050
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180514
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180514
DATE AS OF CHANGE:		20180514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARNWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000010048
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				720496921
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05103
		FILM NUMBER:		18829273

	BUSINESS ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813
		BUSINESS PHONE:		808-531-8400

	MAIL ADDRESS:	
		STREET 1:		1100 ALAKEA ST.
		STREET 2:		SUITE 2900
		CITY:			HONOLULU
		STATE:			HI
		ZIP:			96813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BMA CORP/TN
		DATE OF NAME CHANGE:	19770324

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BARNWELL OFFSHORE INC
		DATE OF NAME CHANGE:	19671101
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>p18-0030_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, DC 20549</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Current Report Pursuant to Section&#160;13 or 15(d)</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">of the Securities Exchange Act of 1934</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Date of Report (Date of earliest event reported):<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"> May 14, 2018</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">BARNWELL INDUSTRIES, INC.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Exact Name of Registrant as Specified in its Charter)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delaware</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">1-5103</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">72-0496921</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(State or other jurisdiction of Incorporation)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Commission File Number)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(IRS Employer Identification No.)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">1100 Alakea Street, Suite 2900</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Honolulu, Hawaii&#160; 96813</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Address of Principal Executive Offices) (Zip Code)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(808)&#160;531-8400</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Registrant's Telephone Number, Including Area Code)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; TEXT-ALIGN: left">&#168;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; TEXT-ALIGN: left">&#168;</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 96%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d&#8209;2(b))</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; TEXT-ALIGN: left">&#168;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 2%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 96%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e&#8209;4(c))</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Sec.230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Sec.240.12b-2 of this chapter). Emerging growth company [&#160; ]</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&#160; ]</div>
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<div>&#160;</div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Item 2.02</u></font>&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Results of Operations and Financial Condition</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">.</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">On May 14, 2018, Barnwell Industries, Inc. issued a press release announcing its financial results for its fiscal quarter ended March 31, 2018.&#160; A copy of such press release is furnished as Exhibit 99.1 to this Current Report.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Item 9.01</u></font>&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Financial Statements and Exhibits</u></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; WIDTH: 36pt; align: right">(d)</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Exhibits</div>
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<div style="TEXT-ALIGN: left"><u>Exhibit No.</u></div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; WIDTH: 80%">
<div style="TEXT-ALIGN: left"><u>Description</u></div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><a href="p18-0030_exh991.htm">99.1&#160;</a></div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80%"><a href="p18-0030_exh991.htm">&#160;Press release dated May 14, 2018</a></td>
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<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURE</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dated:&#160; May 14, 2018</div>

<div>
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<td valign="top" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><strong>BARNWELL INDUSTRIES, INC.</strong></div>
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<td style="WIDTH: 12%" valign="top">&#160;</td>
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<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td valign="top" colspan="2">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

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<td style="PADDING-BOTTOM: 2px; WIDTH: 50%" valign="top" align="left">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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<td style="PADDING-BOTTOM: 2px; WIDTH: 3%" valign="top">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By: </div>
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<td style="VERTICAL-ALIGN: top; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">/s/ Alexander C. Kinzler</div>
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<td style="PADDING-BOTTOM: 2px; WIDTH: 12%" valign="top">&#160;</td>
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<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 5%" valign="bottom" nowrap="nowrap" align="left">Name:</td>
<td style="WIDTH: 31%" valign="bottom" nowrap="nowrap" align="left">&#160;Alexander C. Kinzler</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
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<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td style="WIDTH: 5%" valign="top">Title:</td>
<td style="WIDTH: 31%" valign="top">&#160;Chief Executive Officer and President</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 50%" valign="top">&#160;</td>
<td style="WIDTH: 3%" valign="top">&#160;</td>
<td valign="top" colspan="2">&#160;</td>
<td style="WIDTH: 12%" valign="top">&#160;</td>
</tr>
</table>

<br>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center"><u>Exhibit Index</u></div>

<div style="TEXT-ALIGN: center">&#160;</div>

<div style="TEXT-ALIGN: center">&#160;</div>

<div style="TEXT-ALIGN: center">
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<div style="TEXT-ALIGN: left"><u>Exhibit No.</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 80%">
<div style="TEXT-ALIGN: left"><u>Description</u></div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 20%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><a href="p18-0030_exh991.htm">99.1&#160;</a></div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80%"><a href="p18-0030_exh991.htm">&#160;Press release dated May 14, 2018</a></td>
</tr>
</table>
</div>

<div><br>
</div>

<div><br>
</div>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>p18-0030_exh991.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 14, 2018
<TEXT>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: right"><u>Exhibit 99.1</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: right">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: right">
<table id="zfa54f2d1843945eba3edf05f508b8c9d" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div style="TEXT-ALIGN: left"><img style="HEIGHT: 98px; WIDTH: 131px" border="0" src="image00001.jpg"></div>

<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 56.74%">
<div>&#160;</div>

<div>&#160;</div>

<div>&#160; <font style="FONT-SIZE: 18pt; FONT-WEIGHT: bold">BARNWELL INDUSTRIES, INC.</font></div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM-COLOR: ; WIDTH: 29.99%">
<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left"><u>P&#160; R&#160; E&#160; S&#160; S</u></div>

<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">R E L E A S E</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">1100 Alakea Street, Suite 2900</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Honolulu, Hawaii 96813</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Telephone (808) 531-8400</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fax (808) 531-7181</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Website:&#160; www.brninc.com</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CONTACT:</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 80.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Alexander C. Kinzler</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 19.2%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Chief Executive Officer and President</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 19.2%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80.8%">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Russell M. Gifford</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 19.2%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Executive Vice President and Chief Financial Officer</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 19.2%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 80.8%">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Tel: (808) 531-8400</div>
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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 12.6pt">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">BARNWELL INDUSTRIES, INC. REPORTS RESULTS</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-BOTTOM-WIDTH: 1px; FONT-WEIGHT: bold; BORDER-BOTTOM-COLOR: #000000; TEXT-ALIGN: center">FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 2018<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
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<hr style="BORDER-TOP: medium none; HEIGHT: 2px; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; COLOR: #000000; TEXT-ALIGN: center; MARGIN-LEFT: auto; BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" align="center" noshade="noshade">
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">HONOLULU, HAWAII, May 14, 2018 -- Barnwell Industries, Inc. (NYSE American: BRN) today reported net earnings of $679,000, $0.08 per share, and a net loss of $338,000, $0.04 per share, for the three and six months ended March 31, 2018, respectively, as compared to a net loss of $615,000, $0.07 per share, and net earnings of $1,026,000, $0.12 per share, for the three and six months ended March 31, 2017, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Mr. Alexander Kinzler, Chief Executive Officer of Barnwell, commented, "The net earnings for the quarter ended March 31, 2018 were due to a $2,250,000 gain, before taxes, primarily from the sale of the Company's principal oil property located in the Red Earth area of Alberta, Canada.&#160; Approximately 50% of the proceeds were remitted by the buyer to the Canadian tax authorities as taxes withheld on the sale.&#160; This sale has provided the Company additional liquidity and reduced Barnwell's asset retirement obligations.&#160; Also impacting the Company's results this quarter as compared to the prior year quarter were lower oil production which declined 42% and lower natural gas production, down 28%, and prices, down 23%, and a decrease in contract drilling operating results in the current quarter as compared to the prior year's quarter.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">"The loss for the six months ended March 31,&#160;2018 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">as compared to last year's net earnings for the six months ended March 31, 2017 was largely due to a $1,678,000 decrease in land investment profits as there were no lot sales this six month period by the Kukio Resort land development partnerships whereas in last year's six month period one lot was sold by the partnerships for $20,975,000.&#160; This also resulted in a corresponding decrease in equity in earnings from affiliates, which decreased $2,389,000 to a loss of $233,000.&#160; This was partially offset by the aforementioned gain on the sale of the Red Earth oil properties and a $460,000 income tax benefit due to the enactment of changes to the U.S. federal income tax laws in December 2017.&#160; Additionally, general and administrative expenses decreased $737,000 due to decreases in fees related to the lot sold for $20,975,000 in the prior year, compensation costs and the closure of our New York office last year.&#160;&#160;</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;"At March 31, 2018 Barnwell had cash, cash equivalents and certificates of deposit of $16,588,000 and working capital of $18,646,000 and our third quarter, to end June 30, 2018, has begun with the receipt in April of a $310,000 percentage of sales payment by Kaupulehu Developments and a $373,000 distribution from the Kukio <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">Resort land development partnerships</font>."</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.&#160; A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts.&#160; These statements include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives, and other similar statements.&#160; Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions.&#160; Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved.&#160; Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements.&#160; The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell's expectations are set forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's annual report on Form 10-K for the last fiscal year and Barnwell's other filings with the Securities and Exchange Commission.&#160; Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">COMPARATIVE OPERATING RESULTS</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 100%" colspan="12">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Unaudited)</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.41%">&#160;</td>
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<td style="VERTICAL-ALIGN: top; WIDTH: 16.3%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.78%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.58%">&#160;</td>
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<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 33.49%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Three months ended</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 32.81%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Six months ended</div>
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<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; WIDTH: 33.49%" colspan="5">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">March 31,</div>
</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; WIDTH: 32.81%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">March 31,</div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 15.63%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2018</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 15.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2017</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 15.45%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2018</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 14.76%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2017</div>
</td>
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<tr style="HEIGHT: 12px">
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Revenues</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.63%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160;&#160;&#160;1,975,000</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">$&#160; &#160; 3,029,000</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.45%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160;&#160;&#160;3,831,000</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 4px double; WIDTH: 14.76%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">$&#160;&#160;&#160; 7,319,000</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 27.78%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;Net earnings (loss)&#160; &#160; attributable to Barnwell<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> Industries, Inc.</font></div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.63%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160;&#160;&#160;&#160;&#160;&#160;679,000</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.26%">
<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(615,000)</font></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.45%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160; &#160;&#160; (338,000)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 14.76%" colspan="2">
<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$&#160;&#160;&#160; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,026,000</font></div>
</td>
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<tr style="HEIGHT: 18px">
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Net earnings (loss) per </div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 4.5pt; TEXT-INDENT: 4.5pt">share &#8211; basic and diluted</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.63%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.08</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.26%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; (0.07)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 15.45%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">$&#160; &#160; &#160; &#160;&#160; &#160;&#160; (0.04)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; WIDTH: 14.76%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">$&#160; &#160; &#160;&#160;&#160; &#160; &#160;&#160; 0.12</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 27.78%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3.65%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 31.42%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Weighted-average shares and</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.63%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 14.76%" colspan="2">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 47.05%" colspan="4">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 9pt">equivalent shares outstanding:</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.26%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.28%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 15.45%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 2.6%">&#160;</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
