Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Barnwell Industries, Inc., Valuation and Financial Data, 2011-2015 8 Barnwell Industries, Inc., Share Price Performance, 2011-2015 8 Share Price Performance, 2011-2015 8 Key Valuation Metrics, 2011-2015 9 Barnwell Industries, Inc., Production and Reserves Trends 10 Total Oil and Gas, Reserves and Production 10 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 10 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 11 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 13 Crude Oil/Liquids Production and Reserve 14 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 14 Crude Oil Production and Reserves By Country/Region, 2011-2015 15 Crude Oil/Liquids Reserve Changes, 2011-2015 17 Natural Gas Production and Reserve 18 Natural Gas Production and Reserve Trend, 2011-2015 18 Natural Gas Production and Reserves, By Country/Region, 2011-2015 19 Natural Gas Reserve Changes, 2011-2015 21 Total Crude Oil and Natural Gas Reserves Life Index 22 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 22 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 23 Barnwell Industries, Inc., E&P Costs Trends 25 Allocation of the Upstream Capital Expenditure 25 Upstream Capital Expenditure, 2011-2015 25 Acquisition Costs By Country/Region, 2011-2015 26 Exploration and Development Costs, By Country/Region, 2011-2015 27 Oil and Gas Cost Per boe, US$/boe 29 Oil and Gas Cost Per boe, US$/boe, 2011-2015 29 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 31 Barnwell Industries, Inc., Reserve Replacement Ratio 33 Oil and Gas Production Replacement Ratio 33 Oil and Gas Production Replacement Ratio, 2011-2015 33 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 35 Barnwell Industries, Inc., Results of Oil & Gas Operations Trend 39 Oil and Gas Revenue and Expenses 39 Oil and Gas Revenue and Expenses, 2011-2015 39 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 40 Oil and Gas Revenue and Expenses, Per boe 45 Oil and Gas Revenue and Expenses, By boe, 2011-2015 45 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 46 Oil and Gas Performance Metrics 50 Barnwell Industries, Inc., Land Holdings and Well Data 51 Developed and Undeveloped Acreage 51 Gross and Net Developed and Undeveloped Acreage, 2011-2015 51 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 52 Well Statistics 55 Producible Oil and Gas Well, 2011-2015 55 Producible Oil and Gas Well, By Country/Region, 2011-2015 56 Exploration and Development Wells Drilled, 2011-2015 60 Recent Developments 62 Barnwell Industries, Inc. - Recent Developments 62 Mar 02, 2016: Barnwell Industries Announces Corporate Update And Additional Expense Reductions 62 Feb 10, 2016: Barnwell Industries Reports Results For The First Quarter Ended December 31, 2015 62 Dec 16, 2015: Barnwell Industries Reports Year-End And Fourth Quarter Earnings 62 Aug 12, 2015: Barnwell Industries Reports Results For The Third Quarter And Nine Months Ended June 30, 2015 And Sale Of Oil And Gas Properties 63 May 13, 2015: Barnwell Industries Reports Results For The Second Quarter And Six Months Ended March 31, 2015 64 Feb 12, 2015: Barnwell Industries Reports Results For The First Quarter Ended December 31, 2014 65 Appendix 66 Methodology 66 Coverage 66 Secondary Research 66 Primary Research 66 Data Information Sources 67 Company Source 67 SEC/Other Regulatory Filings 67 Other Sources 67 Expert Panel Validation 67 Data Definition 67 Oil and Gas Reserves 67 Units of Measure 68 About GlobalData 68 Disclosure 68 Disclaimer 68

List of Tables Table 1: Barnwell Industries, Inc., Key Facts 7 Table 2: Barnwell Industries, Inc., Share Price Performance, 2011-2015 8 Table 3: Barnwell Industries, Inc., Key Valuation Metrics, 2011-2015 9 Table 4: Barnwell Industries, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Table 5: Barnwell Industries, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 12 Table 6: Barnwell Industries, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 13 Table 7: Barnwell Industries, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 14 Table 8: Barnwell Industries, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 16 Table 9: Barnwell Industries, Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 17 Table 10: Barnwell Industries, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 18 Table 11: Barnwell Industries, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 20 Table 12: Barnwell Industries, Inc., Natural Gas Reserve Changes, bcf, 2011-2015 21 Table 13: Barnwell Industries, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 22 Table 14: Barnwell Industries, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 24 Table 15: Barnwell Industries, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 25 Table 16: Barnwell Industries, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 26 Table 17: Barnwell Industries, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 28 Table 18: Barnwell Industries, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 29 Table 19: Barnwell Industries, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 32 Table 20: Barnwell Industries, Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 33 Table 21: Barnwell Industries, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 38 Table 22: Barnwell Industries, Inc., Revenue and Expenses, US$ mil, 2011-2015 39 Table 23: Barnwell Industries, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 44 Table 24: Barnwell Industries, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 45 Table 25: Barnwell Industries, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 49 Table 26: Barnwell Industries, Inc., Oil and Gas Performance Metrics, 2011-2015 50 Table 27: Barnwell Industries, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 51 Table 28: Barnwell Industries, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 54 Table 29: Barnwell Industries, Inc., Producible Oil and Gas Wells, 2011-2015 55 Table 30: Barnwell Industries, Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 59 Table 31: Barnwell Industries, Inc., Exploratory and Developed Wells, 2011-2015 61 List of Figures Figure 1: Barnwell Industries, Inc., Share Price Performance, USD/Share, 2011-2015 8 Figure 2: Barnwell Industries, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 9 Figure 3: Barnwell Industries, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Figure 4: Barnwell Industries, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 11 Figure 5: Barnwell Industries, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 11 Figure 6: Barnwell Industries, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 13 Figure 7: Barnwell Industries, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 14 Figure 8: Barnwell Industries, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 15 Figure 9: Barnwell Industries, Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 15 Figure 10: Barnwell Industries, Inc., Crude Oil Reserve Changes, mmbbl, 2015 17 Figure 11: Barnwell Industries, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 18 Figure 12: Barnwell Industries, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 19 Figure 13: Barnwell Industries, Inc., Gas Production, By Country/Region, bcf, 2011-2015 19 Figure 14: Barnwell Industries, Inc., Natural Gas Reserve Changes, bcf, 2015 21 Figure 15: Barnwell Industries, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 22 Figure 16: Barnwell Industries, Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 17: Barnwell Industries, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 18: Barnwell Industries, Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 19: Barnwell Industries, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 25 Figure 20: Barnwell Industries, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 26 Figure 21: Barnwell Industries, Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 22: Barnwell Industries, Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 23: Barnwell Industries, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 29 Figure 24: Barnwell Industries, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 25: Barnwell Industries, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 26: Barnwell Industries, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 32 Figure 27: Barnwell Industries, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 33 Figure 28: Barnwell Industries, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 35 Figure 29: Barnwell Industries, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 35 Figure 30: Barnwell Industries, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 36 Figure 31: Barnwell Industries, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 36 Figure 32: Barnwell Industries, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 37 Figure 33: Barnwell Industries, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 37 Figure 34: Barnwell Industries, Inc., Revenue and Expenses, US$ mil, 2011-2015 39 Figure 35: Barnwell Industries, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 40 Figure 36: Barnwell Industries, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 40 Figure 37: Barnwell Industries, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 41 Figure 38: Barnwell Industries, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 41 Figure 39: Barnwell Industries, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 42 Figure 40: Barnwell Industries, Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 42 Figure 41: Barnwell Industries, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 43 Figure 42: Barnwell Industries, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 45 Figure 43: Barnwell Industries, Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 46 Figure 44: Barnwell Industries, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 46 Figure 45: Barnwell Industries, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 46: Barnwell Industries, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 47: Barnwell Industries, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 48: Barnwell Industries, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 49: Barnwell Industries, Inc., Oil and Gas Performance Metrics, 2011-2015 50 Figure 50: Barnwell Industries, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 51 Figure 51: Barnwell Industries, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 52 Figure 52: Barnwell Industries, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 52 Figure 53: Barnwell Industries, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 53 Figure 54: Barnwell Industries, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 53 Figure 55: Barnwell Industries, Inc., Producible Oil and Gas Wells, 2011-2015 55 Figure 56: Barnwell Industries, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 56 Figure 57: Barnwell Industries, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 56 Figure 58: Barnwell Industries, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 57 Figure 59: Barnwell Industries, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 57 Figure 60: Barnwell Industries, Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 58 Figure 61: Barnwell Industries, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 58 Figure 62: Barnwell Industries, Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 59 Figure 63: Barnwell Industries, Inc., Exploratory and Developed Wells, 2011-2015 60