BRN News & Events

Barnwell Industries has received a cash distribution of approximately $290,000 from its investments in the Kukio Resort land development partnerships in Hawaii, specifically those in KD Kona and KKM Makai. Barnwell holds minority partnership interests in the Kukio Resort development, a high-end residential community located on the Kona coast of Hawaii. These investments provide the Company with participation in the value created through the development and sale of luxury residential real estate within the Kukio project.

Barnwell Industries highlighted the increased value and revenue potential of its Canadian oil production in light of recent strength in global energy prices, and provided an update on its ongoing strategic review process. Barnwell produces crude oil from its interests in the Twining oil field in Alberta, Canada, generating approximately 950 barrels of oil equivalent per day. With recent increases in oil prices, the company believes its Canadian production base is positioned to generate meaningfully higher revenue relative to recent prior periods. The company also confirmed that it continues to actively evaluate strategic alternatives with respect to its Canadian oil and gas assets, including the potential sale of such assets. Barnwell has commenced a process to solicit and evaluate indications of interest from potential counterparties, with the intention being to confirm and potentially realize fair value for those assets in light of current market conditions.

Barnwell Industries announced the appointment of Sean Wallace as a strategic advisor to enhance the Company's capabilities in mergers and acquisitions and broader corporate development initiatives. Mr. Wallace participated in Barnwell's November 2025 Private Placement. He has served in a series of high-impact executive roles across public and private companies, most recently as CFO and Executive Vice President at AST SpaceMobile.

Barnwell Industries is highlighting key operational results from its recently filed first quarter fiscal year 2026 Quarterly Report on Form 10-Q, underscoring the continued performance and reliability of the Company's Canadian oil production during the winter operating season. Barnwell produces crude oil from its interests in the Twining oil field in Alberta, Canada, a stable and well-established energy jurisdiction located adjacent to the world's largest crude oil consuming market. Despite the challenges commonly associated with winter operations in Western Canada, the Company reported minimal operational disruptions during the quarter and continued steady production from its assets. During the quarter, Barnwell produced from its Canadian properties approximately 35,000 barrels of oil, 10,000 barrels of NGLs, and 250,000 thousand cubic feet of natural gas, reflecting a total of 86,667 barrels of oil equivalent or approximately 950 BOEs per day, reflecting the continued performance of the Twining field and the resilience of the Company's operating partners and infrastructure. The Company noted that Western Canadian oil production remains strategically positioned to supply North American markets, particularly as global supply dynamics continue to tighten and geopolitical risks increase in other producing regions.