HONOLULU, HI / ACCESS Newswire / December 30, 2025 / Barnwell Industries, Inc. (NYSE American:BRN) ("Barnwell" or the "Company") today announced the retirement of Russell M. Gifford as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective December 31, 2025, as well as the appointment of Philip F. Patman, Jr., Barnwell's current Executive Vice President - Finance, as Chief Financial Officer, Treasurer and principal financial officer of the Company as of December 31, 2025.

The Board of Directors and management of the Company wish to thank Mr. Gifford for his many years of service. Mr. Gifford joined Barnwell in 1982 and has served as CFO since 1985.

About Barnwell Industries, Inc.

Barnwell Industries, Inc. (NYSE American:BRN) has been publicly traded since 1956 and has a long history of diversified operations across energy, water well drilling, and real estate. Today, Barnwell is strategically focused on expanding its oil and gas operations in the Twining Field near Calgary, Alberta, Canada. The Company remains committed to disciplined capital allocation, operational excellence, and driving long-term value for shareholders.

Forward-Looking Statements

Certain 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. These forward-looking statements are based on current beliefs and expectations of our board and management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, include various estimates, forecasts, projections of Barnwell's future performance, statements of Barnwell's plans and objectives. 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. Any or all of the forward-looking statements may turn out to be incorrect or be affected by inaccurate assumptions Barnwell might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to our ability to execute on our strategy and business plan and the other risks forth in the "Forward-Looking Statements," "Risk Factors" and other sections of Barnwell's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 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.

COMPANY:

Barnwell Industries, Inc.
1100 Alakea Street, Suite 500
Honolulu, HI 96813
Telephone: (808) 531-8400
Fax: (808) 531-7181
Website: www.brninc.com

CONTACT:

Kenneth S. Grossman
Chairman of the Board of Directors
Email: kensgrossman@gmail.com

SOURCE: Barnwell Industries