Bay Street News

Barnwell Industries, Inc. Provides Update on Its Oil and Gas Operations

HONOLULU, Nov. 15, 2018 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) is pleased to provide an update on its recent accomplishments with respect to its oil and gas operations. Production volumes are presented as “Boe” (Barrel of oil equivalent at the rate of 5.8 thousand cubic feet of natural gas per barrel of oil or natural gas liquid). 

Mr. Alexander Kinzler, Chief Executive Officer of Barnwell, commented, “Here are some of our 2018 operational highlights:

Steps we have taken during fiscal 2018 have improved the financial strength of our oil and gas operations, have added significant reserves and are expected to add revenues as we go forward.

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.  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.  These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements.  Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions.  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.  Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements.  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.  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.

CONTACT:

Alexander C. Kinzler
Chief Executive Officer and President                       

Russell M. Gifford
Executive Vice President and Chief Financial Officer

Tel: (808) 531-8400