Barnwell Industries Inc. press release

Barnwell Industries Posts Questions and Answers Regarding Proposed Sale of Canadian Oil and Gas Business

2026-10-14

NYSE - New York Stock Exchange · Oil · Natural Gas · Natural Gas Liquids · United States · M&A / Asset Transactions

HOUSTON, TX / ACCESS Newswire/ October 14, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today announced that it has posted a set of questions and answers on its website regarding the previously announced agreement to sell its Canadian oil and natural gas business to a Canadian corporation.

The Q&As provide shareholders with additional information about the proposed transaction, including the purchase price and retained royalty, the continuation of operations by Barnwell until closing, the retention of all economics, and various closing requirements.

The Q&As are available at www.brninc.com. Shareholders are encouraged to review them together with the Company's Current Report on Form 8-K filed October 6, 2026, including the sale agreement and related announcement.

The transaction remains subject to shareholder approval and other closing conditions. There can be no assurance that it will be completed or as to its timing.

Forward Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements about the pension plan termination, annuity purchases, potential participant benefit increases, surplus reversion, supplemental retirement settlements, tax treatment, the amount and timing of net proceeds and other value, and the use of the net surplus. They also include statements about Barnwell's strategy and strategic repositioning, liquidity, capital allocation, business prospects, commodity prices, oil and gas asset values, potential future distributions and asset sales, the strategic alternatives process, potential merger candidates, possible business combinations or other transactions, and opportunities to generate shareholder returns.

Forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. These include changes in interest rates, plan asset values and benefit obligations; insurer capacity and annuity pricing; pension termination requirements, tax treatment, and administrative and transaction costs; commodity price volatility; the timing and outcome of asset sales; the Company's ability to complete strategic transactions; the availability and terms of merger or business combination opportunities; general economic and market conditions; and other risks described in Barnwell's SEC filings, including its most recent Annual Report on Form 10-K and subsequent filings.

Barnwell undertakes no obligation to update any forward-looking statements except as required by law.

COMPANY: Barnwell Industries, Inc. 24 Greenway Plaza, Suite 1800Q Houston, Texas 77046 Telephone: (713) 730-7026 Website: www.brninc.com

CONTACT: Philip Patman, Jr. Chief Financial Officer and Treasurer Phone: (713) 730-7026 Email: barnwellinfo@brninc.com

SOURCE: Barnwell Industries

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