<SEC-DOCUMENT>0001140361-21-024256.txt : 20210713
<SEC-HEADER>0001140361-21-024256.hdr.sgml : 20210713
<ACCEPTANCE-DATETIME>20210713170944
ACCESSION NUMBER:		0001140361-21-024256
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210713
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210713
DATE AS OF CHANGE:		20210713

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:		211088576

	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>p21-0051_8k.htm
<DESCRIPTION>8K BARNWELL
<TEXT>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, DC 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Current Report Pursuant to Section&#160;13 or 15(d)</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">of the Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;">Date of Report (Date of earliest event reported):<font style="font-weight: bold;"> July 13, 2021</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BARNWELL INDUSTRIES, INC.</div>
    <div style="text-align: center; font-size: 12pt;">(Exact Name of Registrant as Specified in its Charter)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z23b06440f09f4498884ffb5297d55b4e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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          <td style="width: 39.55%; vertical-align: top; border-bottom: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 27.13%; vertical-align: top; border-bottom: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">1-5103</div>
          </td>
          <td style="width: 33.32%; vertical-align: top; border-bottom: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">72-0496921</div>
          </td>
        </tr>
        <tr>
          <td style="width: 39.55%; vertical-align: top; border-top: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt;">(State or other jurisdiction of Incorporation)</div>
          </td>
          <td style="width: 27.13%; vertical-align: top; border-top: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt;">(Commission File Number)</div>
          </td>
          <td style="width: 33.32%; vertical-align: top; border-top: #000000 1px solid;">
            <div style="text-align: center; font-size: 12pt;">(IRS Employer Identification No.)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">1100 Alakea Street, Suite 2900</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Honolulu, Hawaii&#160; 96813</div>
    <div style="text-align: center;">(Address of Principal Executive Offices) (Zip Code)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">(808)&#160;531-8400</div>
    <div style="text-align: center;">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center; color: #000000; font-size: 12pt; font-weight: bold;">Not Applicable</div>
      <div style="text-align: center; color: #000000;">(Former Name or Former Address, if Changed Since Last Report)</div>
    </div>
    <div>
      <div style="color: #000000; font-size: 12pt;">&#160;</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <div style="text-align: justify;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z1df0b6b0fe9546a3847a141a72c258a1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 32.01%; vertical-align: top; border-bottom: #000000 2px double;">
            <div style="text-align: center;">Title of each class</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 24%; vertical-align: top; border-bottom: #000000 2px double;">
            <div style="text-align: center;">Trading Symbol(s)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 40%; vertical-align: top; border-bottom: #000000 2px double;">
            <div style="text-align: center;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 32.01%; vertical-align: top;">
            <div style="text-align: center;">Common Stock, $0.50 Par Value</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 24%; vertical-align: top;">
            <div style="text-align: center;">BRN</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: center;">NYSE American</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">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>
    <div>&#160;</div>
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            <div>[&#160;&#160;]</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: top;">
            <div>[&#160;&#160;]</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: top;">
            <div>[&#160;&#160;]</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: middle;">
            <div>&#160;</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.85%; vertical-align: top;">
            <div>[&#160;&#160;]</div>
          </td>
          <td style="width: 96.15%; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;">&#160;</div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).&#160; Emerging growth company [&#160;&#160;]</div>
    <div><br>
    </div>
    <div style="text-align: justify;">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;&#160;]</div>
    <div>
      <div style="margin-bottom: 2pt;"><br>
      </div>
      <div><br>
      </div>
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    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    </div>
    <font style="font-weight: bold;"><u>Item 8.01</u></font>&#160; <font style="font-weight: bold;"><u>Other Events.</u></font>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">As previously reported, on January 13, 2020, Barnwell Industries, Inc. (the &#8220;Company&#8221;, &#8220;we&#8221; and &#8220;our&#8221;) received notice from the NYSE American that the Company was not in compliance
      with Section 1003(a)(i) and Section 1003(a)(ii) of the NYSE American Company Guide (the &#8220;Guide&#8221;), which respectively require an issuer to have (i) stockholders&#8217; equity of $2.0 million or more if such issuer reported losses from continuing operations
      and/or net losses in two of its three most recent fiscal years and (ii) stockholders&#8217; equity of $4.0 million or more if such issuer reported losses from continuing operations and/or net losses in three of its four most recent fiscal years, since we
      reported stockholders&#8217; equity of $1.2 million as of September 30, 2019 and net losses in three of the last four most recent fiscal years then ended, and that the Company&#8217;s common stock could be at risk of being delisted.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">In accordance with the NYSE American&#8217;s policies and procedures, we subsequently submitted a plan (the &#8220;Plan&#8221;) to the NYSE American detailing the steps we planned to take to raise our
      stockholders&#8217; equity above $4.0 million and regain compliance with Section 1003(a)(i) and Section 1003(a)(ii) of the Guide. On April 2, 2020, the NYSE American notified the Company that it accepted the Plan and granted the Company an extension for
      its continued listing until July 13, 2021 (the &#8220;Plan Period&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">As a result of many actions by the Company during the Plan Period,
        including, without limitation, the at-the-market offering program initiated on March 16, 2021 pursuant to which the Company has sold shares of its common stock from time to time and the termination of the Company&#8217;s Executive Retiree Medical Plan,
        which covered officers of the Company, who had attained at least&#160;20&#160;years of service of which at least&#160;10&#160;years were at the position of Vice President or higher, their spouses and qualifying dependents, effective June 4, 2021, our pro forma
        stockholders&#8217; equity (unaudited) as of July 13, 2021 is projected to be above the $4.0 million required to comply with Section 1003(a)(i) and Section 1003(a)(ii) of the Guide. As a result, we believe that we will have regained compliance with
        Section 1003(a)(i) and Section 1003(a)(ii) of the Guide as of the end of the Plan Period. Subject to review by the NYSE American, the Company may be deemed back in compliance with the NYSE American&#8217;s continued listing standards.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">On July 13, 2021, the Company issued a press release regarding the matters discussed above. A copy of this press release is attached as Exhibit 99.1 hereto and incorporated in this
      Item 8.01 by reference.</div>
    <div><br>
    </div>
    <div style="margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;"><u>Item 9.01</u></font>&#160; <font style="font-weight: bold;"><u>Financial Statements and Exhibits.</u></font></div>
    <div style="margin-bottom: 12pt;"><font style="font-size: 12pt;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;">Exhibits</font></div>
    <table cellspacing="0" cellpadding="0" id="zbc6740e512f8413285152f525b2b588f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <div style="font-size: 12pt;"><u>Exhibit No.</u></div>
          </td>
          <td style="width: 74.95%; vertical-align: top;">
            <div style="font-size: 12pt;"><u>Description</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.05%; vertical-align: top;">
            <div style="font-size: 12pt;">99.1</div>
          </td>
          <td style="width: 74.95%; vertical-align: top;">
            <div style="font-size: 12pt;">Press release dated July 13, 2021</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 25.05%; vertical-align: top; font-size: 12pt;"><br>
          </td>
          <td rowspan="1" style="width: 74.95%; vertical-align: top; font-size: 12pt;"><br>
          </td>
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    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">SIGNATURE</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">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: 12pt;">Dated: July 13, 2021</div>
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          <td style="width: 35.31%; vertical-align: top;">&#160;</td>
          <td style="width: 64.69%; vertical-align: top;" colspan="3">
            <div style="font-size: 12pt;">BARNWELL INDUSTRIES, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 35.31%; vertical-align: top;">&#160;</td>
          <td style="width: 7.06%; vertical-align: top;">
            <div style="font-size: 12pt;">By:</div>
          </td>
          <td style="width: 57.63%; vertical-align: top;" colspan="2">
            <div>
              <div style="font-size: 12pt;">/s/ Russell M. Gifford</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 35.31%; vertical-align: top;">&#160;</td>
          <td style="width: 7.06%; vertical-align: top;">&#160;</td>
          <td style="width: 9.61%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Name:</div>
          </td>
          <td style="width: 48.02%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Russell M. Gifford</div>
          </td>
        </tr>
        <tr>
          <td style="width: 35.31%; vertical-align: top;">&#160;</td>
          <td style="width: 7.06%; vertical-align: top;">&#160;</td>
          <td style="width: 9.61%; vertical-align: top;">
            <div style="text-indent: -18pt; margin-left: 18pt; font-size: 12pt;">Title:</div>
          </td>
          <td style="width: 48.02%; vertical-align: top;">
            <div style="text-indent: 0.2pt; font-size: 12pt;">Executive Vice President and Chief Financial Officer</div>
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    <div style="margin-bottom: 24pt;"><br>
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    <div style="text-align: center; margin-bottom: 24pt; font-size: 12pt;"><u>Exhibit Index</u></div>
    <div><br>
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        <tr>
          <td style="width: 25.05%; vertical-align: top;">
            <div style="font-size: 12pt;"><u>Exhibit No.</u></div>
          </td>
          <td style="width: 74.95%; vertical-align: top;">
            <div style="font-size: 12pt;"><u>Description</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 25.05%; vertical-align: top;">
            <div style="font-size: 12pt;">99.1</div>
          </td>
          <td style="width: 74.95%; vertical-align: top;">
            <div style="font-size: 12pt;">Press release dated July 13, 2021</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 25.05%; vertical-align: top;"><font style="font-size: 12pt;"></font><br>
          </td>
          <td rowspan="1" style="width: 74.95%; vertical-align: top;"><font style="font-size: 12pt;"></font><br>
          </td>
        </tr>

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    <div style="margin-bottom: 24pt;"><br>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>p21-0051_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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         Document created using EDGARfilings PROfile 7.5.1.0
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      <div><br>
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            <td style="width: 16.72%; vertical-align: top;" rowspan="8">
              <div><img width="131" height="98" src="image0.jpg"></div>
              <div>&#160;</div>
            </td>
            <td style="width: 49.94%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">BARNWELL INDUSTRIES, INC.</div>
            </td>
            <td style="width: 33.33%; vertical-align: top; border-bottom: 2px solid black;">
              <div><font style="font-size: 18pt; font-weight: bold;">P&#160; R&#160; E&#160; S&#160; S</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 108pt">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="font-size: 12pt; font-weight: bold;">RELEASE</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>1100 Alakea Street, Suite 2900</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>Honolulu, Hawaii 96813</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>Telephone (808) 531-8400</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>Fax (808) 531-7181</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.94%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">
              <div>Website: www.brninc.com</div>
            </td>
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          <tr>
            <td style="width: 20.03%; vertical-align: top;">
              <div style="font-size: 12pt;">CONTACT:</div>
            </td>
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              <div style="font-size: 12pt;">Alexander C. Kinzler</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.03%; vertical-align: top;">&#160;</td>
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              <div style="font-size: 12pt;">Chief Executive Officer and President</div>
            </td>
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            <td style="width: 79.97%; vertical-align: top;">&#160;</td>
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              <div style="font-size: 12pt;">Russell M. Gifford</div>
            </td>
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            <td style="width: 20.03%; vertical-align: top;">&#160;</td>
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              <div style="font-size: 12pt;">Executive Vice President and Chief Financial Officer</div>
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            <td style="width: 20.03%; vertical-align: top;">&#160;</td>
            <td style="width: 79.97%; vertical-align: top;">
              <div style="font-size: 12pt;">Tel:&#160; (808) 531-8400</div>
            </td>
          </tr>

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    <br>
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      <div style="text-align: center; font-size: 12pt; font-weight: bold;">
        <div>
          <div style="font-weight: bold;">BARNWELL INDUSTRIES, INC. ANNOUNCES JULY 13, 2021 PRO FORMA </div>
          <div style="font-weight: bold;">STOCKHOLDERS&#8217; EQUITY IN EXCESS OF $4.0 MILLION</div>
        </div>
      </div>
      <div style="text-align: center; font-size: 12pt; font-weight: bold;">
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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    <br>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">HONOLULU, HAWAII, July 13, 2021 &#8211; Barnwell Industries, Inc. (NYSE American: BRN) (the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;our&#8221;) announced today that it
      had unaudited pro forma stockholders&#8217; equity, as of July 13, 2021, in excess of the $4.0 million minimum amount of stockholders&#8217; equity that the Company is required to maintain under the NYSE American&#8217;s continued listing standards.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">As previously reported, on January 13, 2020, the Company received notice from the NYSE American that the Company was not in compliance
      with Section 1003(a)(i) and Section 1003(a)(ii) of the NYSE American Company Guide (the &#8220;Guide&#8221;), which respectively require an issuer to have (i) stockholders&#8217; equity of $2.0 million or more if such issuer reported losses from continuing operations
      and/or net losses in two of its three most recent fiscal years and (ii) stockholders&#8217; equity of $4.0 million or more if such issuer reported losses from continuing operations and/or net losses in three of its four most recent fiscal years, since it
      had reported stockholders&#8217; equity of $1.2 million as of September 30, 2019 and net losses in three of the last four most recent fiscal years then ended, and that the Company&#8217;s common stock could be at risk of being delisted.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">In accordance with the NYSE American&#8217;s policies and procedures, we subsequently submitted a plan to the NYSE American detailing the
      steps we planned to take to raise our stockholders&#8217; equity above $4.0 million and regain compliance with Section 1003(a)(i) and Section 1003(a)(ii) of the Guide, and was provided until July 13, 2021 by the NYSE American to regain such compliance.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">The Company&#8217;s estimated pro forma stockholders&#8217; equity is described in greater detail in the Current Report on Form 8-K filed July 13,
      2021 by the Company. A final determination of compliance with the NYSE American&#8217;s continued listing standards is subject to review by the NYSE American.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">The information contained in this press release contains &#8220;forward-looking statements,&#8221; 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&#8217;s future performance, statements of Barnwell&#8217;s plans and objectives, and other similar statements.&#160;
      Forward-looking statements include phrases such as &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;predicts,&#8221; &#8220;estimates,&#8221; &#8220;assumes,&#8221; &#8220;projects,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;will be,&#8221; &#8220;should,&#8221; 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&#8217;s expectations are set forth in the &#8220;Forward-Looking
      Statements,&#8221; &#8220;Risk Factors&#8221; and other sections of Barnwell&#8217;s annual report on Form 10-K for the last fiscal year and Barnwell&#8217;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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