Barnwell Industries (BRN) 10-Q 14 Feb 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2013	Feb. 12, 2014
Document and Entity Information	'	'
Entity Registrant Name	'BARNWELL INDUSTRIES INC	'
Entity Central Index Key	'0000010048	'
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--09-30	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	8,277,160
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Sep. 30, 2013
Current assets:	'	'
Cash and cash equivalents	$5,269,000	$7,828,000
Restricted cash	225,000	'
Accounts receivable, net of allowance for doubtful accounts of: $35,000 at December 31, 2013; $43,000 at September 30, 2013	3,497,000	3,287,000
Prepaid expenses	333,000	230,000
Real estate held for sale	5,448,000	5,448,000
Other current assets	2,324,000	2,234,000
Total current assets	17,096,000	19,027,000
Restricted cash, net of current portion	1,775,000	'
Investments	7,374,000	2,381,000
Property and equipment	246,641,000	252,872,000
Accumulated depletion, depreciation, and amortization	-206,957,000	-211,566,000
Property and equipment, net	39,684,000	41,306,000
Total assets	65,929,000	62,714,000
Current liabilities:	'	'
Accounts payable	3,429,000	4,415,000
Accrued capital expenditures	1,866,000	1,846,000
Accrued incentive and other compensation	1,365,000	1,652,000
Accrued operating and other expenses	3,199,000	2,670,000
Payable to affiliate	1,000,000	'
Current portion of long-term debt	7,106,000	5,240,000
Other current liabilities	1,206,000	624,000
Total current liabilities	19,171,000	16,447,000
Long-term debt	13,586,000	11,400,000
Liability for retirement benefits	3,218,000	3,137,000
Asset retirement obligation	7,444,000	7,520,000
Deferred income taxes	1,896,000	1,890,000
Total liabilities	45,315,000	40,394,000
Commitments and contingencies (Note 12)	'	'
Equity:	'	'
Common stock, par value $0.50 per share; authorized, 20,000,000 shares: 8,445,060 issued at December 31, 2013 and September 30, 2013	4,223,000	4,223,000
Additional paid-in capital	1,291,000	1,289,000
Retained earnings	14,543,000	15,532,000
Accumulated other comprehensive income, net	2,219,000	2,991,000
Treasury stock, at cost: 167,900 shares at December 31, 2013 and September 30, 2013	-2,286,000	-2,286,000
Total stockholders' equity	19,990,000	21,749,000
Non-controlling interests	624,000	571,000
Total equity	20,614,000	22,320,000
Total liabilities and equity	$65,929,000	$62,714,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Sep. 30, 2013
CONDENSED CONSOLIDATED BALANCE SHEETS	'	'
Accounts receivable, allowance for doubtful accounts (in dollars)	$35,000	$43,000
Common stock, par value (in dollars per share)	$0.50	$0.50
Common stock, authorized shares	20,000,000	20,000,000
Common stock, issued shares	8,445,060	8,445,060
Treasury stock, shares	167,900	167,900

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Revenues:	'	'
Oil and natural gas	$5,327,000	$5,640,000
Contract drilling	1,609,000	717,000
Sale of interest in leasehold land, net	120,000	'
Gas processing and other	145,000	194,000
Total revenues	7,201,000	6,551,000
Costs and expenses:	'	'
Oil and natural gas operating	2,621,000	1,993,000
Contract drilling operating	1,312,000	608,000
General and administrative	1,856,000	2,142,000
Depletion, depreciation, and amortization	2,164,000	2,679,000
Reduction of carrying value of assets	'	2,327,000
Interest expense	163,000	152,000
Total costs and expenses	8,116,000	9,901,000
Loss before equity in loss of affiliates and income taxes	-915,000	-3,350,000
Equity in loss of affiliates	-147,000	'
Loss before income taxes	-1,062,000	-3,350,000
Income tax benefit	-62,000	-564,000
Net loss	-1,000,000	-2,786,000
Less: Net loss attributable to non-controlling interests	-11,000	-40,000
Net loss attributable to Barnwell Industries, Inc.	($989,000)	($2,746,000)
Basic net loss per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	($0.12)	($0.33)
Diluted net loss per common share attributable to Barnwell Industries, Inc. stockholders (in dollars per share)	($0.12)	($0.33)
Weighted-average number of common shares outstanding:	'	'
Basic (in shares)	8,277,160	8,277,160
Diluted (in shares)	8,277,160	8,277,160

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	'	'
Net loss	($1,000,000)	($2,786,000)
Other comprehensive loss:	'	'
Foreign currency translation adjustments, net of taxes of $0	-780,000	-370,000
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	8,000	65,000
Total other comprehensive loss	-772,000	-305,000
Total comprehensive loss	-1,772,000	-3,091,000
Less: Comprehensive loss attributable to non-controlling interests	-11,000	-40,000
Comprehensive loss attributable to Barnwell Industries, Inc.	($1,761,000)	($3,051,000)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	'	'
Foreign currency translation adjustments, taxes	$0	$0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$0	$0

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net loss	($1,000,000)	($2,786,000)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Equity in loss of affiliates	147,000	'
Depletion, depreciation, and amortization	2,164,000	2,679,000
Reduction of carrying value of assets	'	2,327,000
Retirement benefits expense	91,000	154,000
Accretion of asset retirement obligation	126,000	96,000
Deferred income tax benefit	67,000	-1,122,000
Asset retirement obligation payments	-10,000	-17,000
Share-based compensation benefit	-175,000	-32,000
Retirement plan contributions	-1,000	-251,000
Sale of interest in leasehold land, net	-120,000	'
Real estate held for sale	'	-122,000
(Decrease) increase from changes in current assets and liabilities	-290,000	817,000
Net cash provided by operating activities	999,000	1,743,000
Cash flows from investing activities:	'	'
Payment to acquire interest in affiliates	-4,140,000	'
Proceeds from sale of interest in leasehold land, net of fees paid	120,000	'
Proceeds from gas over bitumen royalty adjustments	5,000	8,000
Capital expenditures - oil and natural gas	-1,617,000	-973,000
Capital expenditures - all other	'	-2,000
Net cash used in investing activities	-5,632,000	-967,000
Cash flows from financing activities:	'	'
Proceeds from long-term debt borrowings	4,186,000	502,000
Repayments of long-term debt	-134,000	-129,000
Increase in restricted cash	-2,000,000	'
Contributions from non-controlling interests	64,000	55,000
Net cash provided by financing activities	2,116,000	428,000
Effect of exchange rate changes on cash and cash equivalents	-42,000	-22,000
Net (decrease) increase in cash and cash equivalents	-2,559,000	1,182,000
Cash and cash equivalents at beginning of period	7,828,000	8,845,000
Cash and cash equivalents at end of period	$5,269,000	$10,027,000

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock	Non-controlling Interests
Balance at Sep. 30, 2012	$30,125,000	$4,223,000	$1,289,000	$24,095,000	$2,322,000	($2,286,000)	$482,000
Balance (in shares) at Sep. 30, 2012	'	8,277,160	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'
Contributions from non-controlling interests	55,000	'	'	'	'	'	55,000
Net loss	-2,786,000	'	'	-2,746,000	'	'	-40,000
Foreign currency translation adjustments, net of taxes of $0	-370,000	'	'	'	-370,000	'	'
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	65,000	'	'	'	65,000	'	'
Balance at Dec. 31, 2012	27,089,000	4,223,000	1,289,000	21,349,000	2,017,000	-2,286,000	497,000
Balance (in shares) at Dec. 31, 2012	'	8,277,160	'	'	'	'	'
Balance at Sep. 30, 2013	22,320,000	4,223,000	1,289,000	15,532,000	2,991,000	-2,286,000	571,000
Balance (in shares) at Sep. 30, 2013	'	8,277,160	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'
Contributions from non-controlling interests	64,000	'	'	'	'	'	64,000
Net loss	-1,000,000	'	'	-989,000	'	'	-11,000
Share-based compensation	2,000	'	2,000	'	'	'	'
Foreign currency translation adjustments, net of taxes of $0	-780,000	'	'	'	-780,000	'	'
Retirement plans - amortization of accumulated other comprehensive loss into net periodic benefit cost, net of taxes of $0	8,000	'	'	'	8,000	'	'
Balance at Dec. 31, 2013	$20,614,000	$4,223,000	$1,291,000	$14,543,000	$2,219,000	($2,286,000)	$624,000
Balance (in shares) at Dec. 31, 2013	'	8,277,160	'	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY	'	'
Foreign currency translation adjustments, taxes	$0	$0
Amortization of accumulated other comprehensive loss into net periodic benefit cost, taxes	$0	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	1.                                    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona 2013 LLLP) and two 80%-owned joint ventures (Kaupulehu 2007, LLLP and Kaupulehu Investors, LLC). All significant intercompany accounts and transactions have been eliminated.
	Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method.
	Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars.
	Unaudited Interim Financial Information
	The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2013 Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of September 30, 2013 has been derived from audited consolidated financial statements.
	In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at December 31, 2013, results of operations, comprehensive loss, cash flows and equity for the three months ended December 31, 2013 and 2012, have been made. The results of operations for the period ended December 31, 2013 are not necessarily indicative of the operating results for the full year.
	Use of Estimates
	The preparation of the financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates.
	Significant Accounting Policies
	Other than as set forth below, there have been no changes to Barnwell’s significant accounting policies as described in the Notes to Consolidated Financial Statements included in Item 8 of the Company’s most recently filed Annual Report on Form 10-K.
	Restricted Cash
	Restricted cash consists of deposits for interest reserve and collateral for our land investment loan.
	Equity Method Investments
	Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3 to 5% ownership interest, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments, and other adjustments required by the equity method. Gain or losses are realized when such investments are sold.
	Investments in equity method investees are evaluated for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their respective fair values, additional impairment tests are performed to measure the amounts of the impairment losses, if any. When an impairment test demonstrates that the fair value of an investment is less than its carrying value, management will determine whether the impairment is either temporary or other-than-temporary. Examples of factors which may be indicative of an other-than-temporary impairment include (i) the length of time and extent to which fair value has been less than carrying value, (ii) the financial condition and near-term prospects of the investee, and (iii) the intent and ability to retain the investment in the investee for a period of time sufficient to allow for any anticipated recovery in fair value. If the decline in fair value is determined by management to be other-than-temporary, the carrying value of the investment is written down to its estimated fair value as of the balance sheet date of the reporting period in which the assessment is made.
	Variable Interest Entities
	The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is primary beneficiary, may require significant judgment.
	Barnwell analyzes its unconsolidated affiliates in which it has an investment to determine whether the unconsolidated entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. At December 31, 2013, our unconsolidated affiliates that have been determined to be VIEs are accounted under the equity method because we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary (see Note 5).
	Recent Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The Company adopted the provisions of this ASU effective October 1, 2013. The adoption of this ASU impacted the presentation of Barnwell’s accumulated other comprehensive income footnote disclosures.

LOSS_PER_COMMON_SHARE

LOSS PER COMMON SHARE	3 Months Ended
	Dec. 31, 2013
LOSS PER COMMON SHARE	'
LOSS PER COMMON SHARE	'
	2.                                    LOSS PER COMMON SHARE
	Basic earnings (loss) per share excludes dilution and is computed by dividing net earnings (loss) attributable to Barnwell stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings (loss) per share includes the potentially dilutive effect of outstanding common stock options, to the extent their inclusion would be dilutive. Potentially dilutive shares are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive.
	Potentially dilutive shares consist of the common shares issuable upon the exercise of outstanding stock options (both vested and non-vested) using the treasury stock method. Options to purchase 837,250 and 807,250 shares of common stock were excluded from the computation of diluted shares for the three months ended December 31, 2013 and 2012, respectively, as their inclusion would have been antidilutive due to the net loss attributable to Barnwell stockholders.
	Reconciliations between net loss attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net loss per share computations are detailed in the following tables:
		Three months ended December 31, 2013
		Net Loss				Shares		Per-Share
		(Numerator)				(Denominator)		Amount
	Basic net loss per share		$	(989,000	)		8,277,160		$	(0.12	)
	Effect of dilutive securities - common stock options		-				-
	Diluted net loss per share		$	(989,000	)		8,277,160		$	(0.12	)
		Three months ended December 31, 2012
		Net Loss				Shares		Per-Share
		(Numerator)				(Denominator)		Amount
	Basic net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)
	Effect of dilutive securities - common stock options		-				-
	Diluted net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)

SHAREBASED_PAYMENTS

SHARE-BASED PAYMENTS	3 Months Ended
	Dec. 31, 2013
SHARE-BASED PAYMENTS	'
SHARE-BASED PAYMENTS	'
	3.                                    SHARE-BASED PAYMENTS
	The Company’s share-based compensation benefit and related income tax effects are as follows:
		Three months ended
		December 31,
		2013					2012
	Share-based compensation benefit		$	(175,000	)			$	(32,000	)
	Income tax effect		$	-				$	-
	Share-based compensation benefit recognized in loss for the three months ended December 31, 2013 and 2012 are reflected in “General and administrative” expenses in the Condensed Consolidated Statements of Operations. There was no impact on income taxes for the three months ended December 31, 2013 and 2012 due to a full valuation allowance on the related deferred tax asset.
	As of December 31, 2013, there was $119,000 of total unrecognized compensation cost related to nonvested share options. That cost is expected to be recognized over 3.9 years. The weighted-average grant date fair value of employee options granted during the three months ended December 31, 2013 was $2.04 (no options were granted during the three months ended December 31, 2012).
	Equity-classified Awards
	In December 2013, Barnwell granted non-qualified options with an exercise price equal to the closing market price of Barnwell’s stock on the date of grant, that vest annually over four years of continuous service, and that expire ten years from the date of grant.
	The following assumptions were used in estimating fair value for equity-classified share options granted in the three months ended December 31, 2013:
	Expected volatility	55.60%
	Expected dividends	0.00%
	Expected term (in years)	10
	Risk-free interest rate	3.00%
	Expected forfeitures	None
	The application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation, and consequently, the related costs reported in the Condensed Consolidated Statements of Operations.
	A summary of the activity in Barnwell’s equity-classified share options from October 1, 2013 through December 31, 2013 is presented below:
											Weighted-
											Average
						Weighted-					Remaining
						Average					Contractual		Aggregate
						Exercise					Term		Intrinsic
	Options	Shares				Price					(in years)		Value
	Outstanding at October 1, 2013		60,000				$	8.62
	Granted		30,000				3.01
	Exercised		-
	Expired/Forfeited		-
	Outstanding at December 31, 2013		90,000				$	6.75				3.9		$	-
	Exercisable at December 31, 2013		60,000				$	8.62				0.9		$	-
	Total share-based compensation expense for equity-classified awards vested in the three months ended December 31, 2013 and 2012 was $2,000 and $0, respectively.
	Liability-classified Awards
	In December 2013, Barnwell granted non-qualified options with an exercise price equal to the closing market price of Barnwell’s stock on the date of grant, that vest annually over four years of continuous service, and that expire ten years from the date of grant. The non-qualified options have stock appreciation rights features that permit the holder to receive stock, cash or a combination thereof equal to the amount by which the fair market value, at the time of exercise of the option, exceeds the option price.
	The following assumptions were used in estimating fair value for all liability-classified share options outstanding:
		Three months ended December 31,
		2013		2012
	Expected volatility range	49.4% to 62.6%		32.6% to 66.1%
	Weighted-average volatility	56.50%		59.00%
	Expected dividends	0.00%		0.00%
	Expected term (in years)	0.9 to 10.0		0.2 to 7.0
	Risk-free interest rate	0.1% to 3.0%		0.1% to 1.2%
	Expected forfeitures	None		None
	The application of alternative assumptions could produce significantly different estimates of the fair value of share-based compensation, and consequently, the related costs reported in the Condensed Consolidated Statements of Operations.
	A summary of the activity in Barnwell’s liability-classified share options from October 1, 2013 through December 31, 2013 is presented below:
											Weighted-
											Average
						Weighted-					Remaining
						Average					Contractual		Aggregate
						Exercise					Term		Intrinsic
	Options	Shares				Price					(in years)		Value
	Outstanding at October 1, 2013		717,250				$	8.37
	Granted		30,000					3.01
	Exercised		-
	Expired/Forfeited		-
	Outstanding at December 31, 2013		747,250				$	8.15				4.4		$	-
	Exercisable at December 31, 2013		639,750				$	8.86				3.9		$	-
	The following table summarizes the components of the total share-based compensation for liability-classified awards:
		Three months ended December 31,
		2013						2012
	Due to vesting			$	7,000					$	18,000
	Due to remeasurement				(184,000	)					(50,000	)
	Total share-based compensation benefit for liability-based awards			$	(177,000	)				$	(32,000	)

REAL_ESTATE_HELD_FOR_SALE

REAL ESTATE HELD FOR SALE	3 Months Ended
	Dec. 31, 2013
REAL ESTATE HELD FOR SALE	'
REAL ESTATE HELD FOR SALE	'
	4.            REAL ESTATE HELD FOR SALE
	Kaupulehu 2007, LLLP (“Kaupulehu 2007”) currently owns one luxury residence that is available for sale in the Lot 4A Increment I area located in the North Kona District of the island of Hawaii, north of Hualalai Resort at Historic Ka`upulehu, between the Queen Kaahumanu Highway and the Pacific Ocean.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Dec. 31, 2013
INVESTMENTS	'
INVESTMENTS	'
	5.                                    INVESTMENTS
	A summary of Barnwell’s investments is as follows:
		December 31,				September 30,
		2013				2013
	Investment in two residential parcels			$	2,331,000		$	2,331,000
	Investment in land development partnerships				4,993,000			-
	Investment in leasehold land interest – Lot 4C				50,000			50,000
	Total investments			$	7,374,000		$	2,381,000
	Investment in two residential parcels
	Kaupulehu 2007 owns two residential parcels in the Lot 4A Increment I area located in the North Kona District of the island of Hawaii, north of Hualalai Resort at Historic Ka`upulehu, between the Queen Kaahumanu Highway and the Pacific Ocean.
	Investment in land development partnerships
	On November 27, 2013, Barnwell, through a wholly-owned subsidiary, entered into two limited liability limited partnerships, KD Kona 2013 LLLP and KKM Makai, LLLP, and indirectly acquired a 19.6% ownership interest in each WB Kukio Resorts, LLC, WB Maniniowali, LLC, and WB Kaupulehu, LLC for $5,140,000. These entities own certain real estate and development rights interests in the Kukio, Maniniowali, and Kaupulehu portions of Kukio Resort, a private residential community on the Kona coast of the island of Hawaii. WB Kaupulehu, LLC, which is comprised of WB KD Acquisition, LLC (“WB”) and WB KD Acquisition II, LLC (“WBKD”), is the developer of Kaupulehu Lot 4A Increments I and II, the area in which Barnwell has interests in percentage of sales payments. Barnwell’s investment in these entities is accounted for using the equity method of accounting.
	The limited liability limited partnership agreements provide for a priority return of Barnwell’s investment prior to profit distributions. Net profits, losses and cash flows of the partnerships are allocated to Barnwell and the other partners at varying percentages based on whether the initial and any additional capital contributions have been repaid to the investors. For the period from the acquisition date, November 27, 2013, to December 31, 2013, Barnwell was allocated partnership losses of $147,000.
	Barnwell, through affiliated entities, borrowed approximately $4,140,000 on the acquisition date under a new bank loan to partially fund the acquisition. In January 2014, Barnwell paid an additional $1,000,000, of which approximately $814,000 was borrowed under the new bank loan, to fund the remainder of the acquisition price. This amount is accrued under the caption “Payable to affiliate” in the Condensed Consolidated Balance Sheets at December 31, 2013.
	The initial accounting for the acquisition by the general partner of the investees is incomplete as the general partner is currently in the process of performing an acquisition date audit. As such, we are unable to determine the amount, if any, of the basis difference between the underlying equity in net assets of the investee land development partnerships and the carrying value of Barnwell’s investment as a limited partner.
	Barnwell, as well as WB and certain other owners of the partnership, have jointly and severally executed a surety indemnification agreement. Bonds issued by the surety at December 31, 2013 totaled approximately $4,700,000 and relate to certain construction contracts of WB. If any such performance bonds are called, we may be obligated to reimburse the issuer of the performance bond as Barnwell, WB and certain other owners are jointly and severally liable, however we believe that it is remote that a material amount of any currently outstanding performance bonds will be called. Performance bonds do not have stated expiration dates. Rather, the performance bonds are released as the underlying performance is completed.
	As of December 31, 2013, Barnwell’s maximum loss exposure as a result of its investment in the land development partnerships was $9,693,000, consisting of the carrying value of the investment of $4,993,000 and $4,700,000 from the surety indemnification agreement of which we are jointly and severally liable.
	Summarized financial information for the land development partnerships is as follows for the period of November 27, 2013 to December 31, 2013:
	Revenue	$	269,000
	Gross profit	$	211,000
	Loss from operations	$	(386,000	)
	Net loss	$	(381,000	)
	Percentage of sales payments
	Kaupulehu Developments has the right to receive payments resulting from the sale of lots and/or residential units within approximately 870 acres of the Kaupulehu Lot 4A area in two increments (“Increment I” and “Increment II”).
	The following table summarizes the Increment I percentage of sales payment revenues received during the three months ended December 31, 2013 (no amounts were received during the three months ended December 31, 2012). This sale occurred prior to our purchase of an ownership interest in the land development partnerships:
	Sale of interest in leasehold land:
	Proceeds	$	140,000
	Fees		(20,000	)
	Revenues – sale of interest in leasehold land, net	$	120,000
	Investment in leasehold land interest - Lot 4C
	Kaupulehu Developments holds an interest in an area of approximately 1,000 acres of vacant leasehold land zoned conservation located adjacent to Lot 4A. The lease terminates in December 2025.

LONGTERM_DEBT

LONG-TERM DEBT	3 Months Ended
	Dec. 31, 2013
LONG-TERM DEBT	'
LONG-TERM DEBT	'
	6.                                    LONG-TERM DEBT
	A summary of Barnwell’s long-term debt is as follows:
		December 31,				September 30,
		2013				2013
	Canadian revolving credit facility		$	12,000,000			$	12,000,000
	Real estate loan			4,506,000				4,640,000
	Land investment loan			4,186,000				-
				20,692,000				16,640,000
	Less: current portion			(7,106,000	)			(5,240,000	)
	Total long-term debt		$	13,586,000			$	11,400,000
	Canadian revolving credit facility
	Barnwell has a credit facility at Royal Bank of Canada, a Canadian bank, for $20,000,000 Canadian dollars, or US$18,804,000 at the December 31, 2013 exchange rate. Unused credit available under this facility was US$6,804,000 and the interest rate on the facility was 2.66% at December 31, 2013.
	Under the financing agreement with Royal Bank of Canada, the facility is reviewed annually, with the next review planned for April 2014. Subject to that review, the facility may be renewed for one year with no required debt repayments or converted to a two-year term loan by the bank. If the facility is converted to a two-year term loan, Barnwell has agreed to the following repayment schedule of the then outstanding loan balance: first year of the term period – 20% (5% per quarter), and in the second year of the term period – 80% (5% per quarter for the first three quarters and 65% in the final quarter). Based on the terms of this agreement, if Royal Bank of Canada were to convert the facility to a two-year term loan upon its next review in April 2014, Barnwell would be obligated to make quarterly principal and interest repayments beginning in July 2014. As such, two quarterly repayments of 5% each would be due within one year of December 31, 2013 and accordingly, we have included $1,200,000, representing 10% of the outstanding loan balance at December 31, 2013, in the current portion of long-term debt.
	Real estate loan
	Barnwell, together with its real estate joint venture, Kaupulehu 2007, has a non-revolving real estate loan with a Hawaii bank. Principal and interest are paid monthly and are determined based on a loan amortization schedule. The monthly payment will change as a result of an annual change in the interest rate, the sale of the house or the sale of a residential parcel. The interest rate adjusts each April for the remaining term of the loan to the lender’s then prevailing interest rate for similarly priced commercial mortgage loans or a floating rate equal to the lender’s base rate. The interest rate at December 31, 2013 was 3.53%. Any unpaid principal balance and accrued interest will be due and payable on April 1, 2018.
	The loan is collateralized by, among other things, a first mortgage on Kaupulehu 2007’s lots together with all improvements thereon. Kaupulehu 2007 will be required to make a principal payment upon the sale of the house or a residential parcel in the amount of the net sales proceeds of the house or residential parcel; the loan agreement defines net sales proceeds as the gross sales proceeds for the house or residential parcel, less reasonable commissions and normal closing costs.
	The loan agreement contains provisions requiring us to maintain compliance with certain covenants including a consolidated debt service coverage ratio and a consolidated total liabilities to tangible net worth ratio.
	The home collateralizing the loan is currently available for sale; therefore, the entire balance outstanding at December 31, 2013 under the term loan has been classified as a current liability.
	Land investment loan
	On November 27, 2013, Barnwell, through affiliated entities, entered into a non-revolving loan with a Hawaii bank for $5,000,000 and borrowed approximately $4,186,000 on the loan to partially fund the acquisition of interests in the land development partnerships and certain acquisition costs. In January 2014, an additional $814,000 was borrowed on the loan to partially fund the remainder of the acquisition price, bringing the total borrowings under the land investment loan to the facility maximum of $5,000,000.
	The bank loan matures in December 2015, with an option to extend one year, and accrues interest for the first year at 4.5% and resets annually thereafter to the lender’s then prevailing interest rate for similarly priced commercial mortgage loans or to the lender’s base rate plus 0.50%. The interest rate at December 31, 2013 was 4.50%. Principal payments are due on the receipt of percentage of sales payments from the sale of lots within Kaupulehu Lot 4A Increments I and II, upon the sale of Kaupulehu 2007’s residential parcels and on receipt of cash distributions from the land development partnerships. Additionally, Kaupulehu 2007 will be required to make a principal payment of $1,400,000 upon the sale of the real estate held for sale; therefore, $1,400,000 has been classified as a current liability.
	The loan is collateralized by Kaupulehu Developments’ rights to percentage of sales payments from the sale of lots within Kaupulehu Lot 4A Increments I and II, a second mortgage on Kaupulehu 2007’s lots together with all improvements thereon, the interest in the land development partnerships and any distributions from the partnerships, a $1,000,000 interest reserve account and a $1,000,000 pledged deposit account. Barnwell is a guarantor of the loan.
	The loan agreement contains provisions requiring us to maintain compliance with certain covenants including a consolidated debt service coverage ratio and a consolidated total liabilities to tangible net worth ratio.

RETIREMENT_PLANS

RETIREMENT PLANS	3 Months Ended
	Dec. 31, 2013
RETIREMENT PLANS	'
RETIREMENT PLANS	'
	7.                                    RETIREMENT PLANS
	Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees. Additionally, Barnwell sponsors a Supplemental Employee Retirement Plan (“SERP”), a noncontributory supplemental retirement benefit plan which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan, and a postretirement medical insurance benefits plan (“Postretirement Medical”) covering eligible U.S. employees.
	The following table details the components of net periodic benefit cost for Barnwell’s retirement plans:
		Pension Plan						SERP							Postretirement Medical
		Three months ended December 31,
		2013			2012				2013			2012				2013			2012
	Service cost	$	59,000		$	68,000			$	12,000		$	13,000			$	3,000		$	4,000
	Interest cost	85,000			75,000				16,000			14,000				13,000			12,000
	Expected return on plan assets	(105,000		)	(97,000		)		-			-				-			-
	Amortization of prior service cost (credit)	1,000			1,000				(1,000		)	(1,000		)		3,000			34,000
	Amortization of net actuarial loss (gain)	9,000			26,000				1,000			5,000				(5,000		)	-
	Net periodic benefit cost	$	49,000		$	73,000			$	28,000		$	31,000			$	14,000		$	50,000
	Barnwell estimates that it will make approximately $600,000 in contributions to the Pension Plan during fiscal 2014. The SERP and Postretirement Medical plans are unfunded, and Barnwell will fund benefits when payments are made. Barnwell does not expect to make any benefit payments under the Postretirement Medical plan during fiscal 2014 and expected payments under the SERP for fiscal 2014 are not material. Fluctuations in actual equity market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Dec. 31, 2013
INCOME TAXES	'
INCOME TAXES	'
	8.                                    INCOME TAXES
	The components of loss before income taxes, after adjusting the loss for non-controlling interests, are as follows:
		Three months ended
		December 31,
		2013			2012
	United States	$	(850,000	)	$	(1,288,000	)
	Canada	(201,000		)	(2,022,000		)
		$	(1,051,000	)	$	(3,310,000	)
	The components of the income tax benefit are as follows:
		Three months ended
		December 31,
		2013			2012
	Current	$	(129,000	)	$	558,000
	Deferred	67,000			(1,122,000		)
		$	(62,000	)	$	(564,000	)
	Barnwell’s effective consolidated income tax benefit rate for the three months ended December 31, 2013 and 2012, after adjusting loss before income taxes for non-controlling interests, was 6% and 17%, respectively.
	Consolidated taxes do not bear a customary relationship to pretax losses due primarily to the fact that Canadian income taxes are not sheltered by U.S. source losses, Canadian income taxes are not estimated to have a current or future benefit as foreign tax credits or deductions for U.S. tax purposes, and U.S. consolidated net operating losses are not estimated to have any future U.S. tax benefit prior to expiration.
	The Canada Revenue Agency is currently examining the Company’s Canadian federal income tax returns for fiscal 2010 and 2011.

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Dec. 31, 2013
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	9.                                    SEGMENT INFORMATION
	Barnwell operates the following segments: 1) exploring for, developing, producing and selling oil and natural gas in Canada (oil and natural gas); 2) investing in land interests in Hawaii (land investment); 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling); and 4) developing homes for sale in Hawaii (residential real estate).
	The following table presents certain financial information related to Barnwell’s reporting segments. All revenues reported are from external customers with no intersegment sales or transfers.
		Three months ended
		December 31,
		2013			2012
	Revenues:
	Oil and natural gas	$	5,327,000		$	5,640,000
	Land investment	120,000			-
	Contract drilling	1,609,000			717,000
	Other	141,000			166,000
	Total before interest income	7,197,000			6,523,000
	Interest income	4,000			28,000
	Total revenues	$	7,201,000		$	6,551,000
	Depletion, depreciation, and amortization:
	Oil and natural gas	$	2,059,000		$	2,535,000
	Contract drilling	78,000			115,000
	Other	27,000			29,000
	Total depletion, depreciation, and amortization	$	2,164,000		$	2,679,000
	Reduction of carrying value of assets:
	Oil and natural gas	$	-		$	2,327,000
	Operating profit (loss) (before general and administrative expenses):
	Oil and natural gas	$	647,000		$	(1,215,000	)
	Land investment	120,000			-
	Contract drilling	219,000			(6,000		)
	Other	114,000			137,000
	Total operating profit (loss)	1,100,000			(1,084,000		)
	Equity in loss of affiliates:
	Land investment	(147,000		)	-
	General and administrative expenses	(1,856,000		)	(2,142,000		)
	Interest expense	(163,000		)	(152,000		)
	Interest income	4,000			28,000
	Loss before income taxes	$	(1,062,000	)	$	(3,350,000	)
	Assets By Segment:
		December 31,			September 30,
		2013			2013
	Oil and natural gas (1)	$	39,148,000		$	40,559,000
	Land investment (2)	7,374,000			2,381,000
	Contract drilling (2)	3,114,000			2,905,000
	Residential real estate (2)	5,448,000			5,448,000
	Other:
	Cash and cash equivalents	5,269,000			7,828,000
	Restricted cash	2,000,000			-
	Corporate and other	3,576,000			3,593,000
	Total	$	65,929,000		$	62,714,000
	(1)          Primarily located in the province of Alberta, Canada.
	(2)          Located in Hawaii.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Dec. 31, 2013
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
	10.                            ACCUMULATED OTHER COMPREHENSIVE INCOME
	The changes in each component of accumulated other comprehensive income (loss) were as follows:
		Three months ended
		December 31,
		2013			2012
	Foreign currency translation:
	Beginning accumulated foreign currency translation	$	3,701,000		$	5,020,000
	Change in cumulative translation adjustment	(780,000		)	(370,000		)
	Income taxes	-			-
	Ending accumulated foreign currency translation	2,921,000			4,650,000
	Retirement plans:
	Beginning accumulated retirement plans benefit cost	(710,000		)	(2,698,000		)
	Amortization of prior service cost	3,000			34,000
	Amortization of net actuarial loss	5,000			31,000
	Income taxes	-			-
	Ending accumulated retirement plans benefit cost	(702,000		)	(2,633,000		)
	Accumulated other comprehensive income, net of taxes	$	2,219,000		$	2,017,000
	The accumulated other comprehensive loss components for the retirement plans are included in the computation of net periodic benefit cost which is a component of general and administrative expenses on the accompanying Condensed Consolidated Statement of Operations (see Note 7 for additional details).

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 31, 2013
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	11.                            FAIR VALUE MEASUREMENTS
	Fair Value of Financial Instruments
	The carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued current liabilities approximate their fair values due to the short-term nature of the instruments. The carrying value of long-term debt approximates fair value as the terms approximate current market terms for similar debt instruments of comparable risk and maturities.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2013
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	12.                            COMMITMENTS AND CONTINGENCIES
	Environmental Matters
	As of December 31, 2013 and September 30, 2013, environmental remediation costs of $781,000 and $783,000, respectively, which have not been discounted, were accrued in “Accrued operating and other expenses” on the Condensed Consolidated Balance Sheets. The amounts accrued represent the estimated liability for probable environmental remediation costs for soil contamination from infrastructure issues at the Dunvegan and Wood River properties. Because of the inherent uncertainties associated with environmental assessment and remediation activities, future expenses to remediate the currently identified sites, and sites identified in the future, if any, could be incurred.

INFORMATION_RELATING_TO_THE_CO

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	3 Months Ended
	Dec. 31, 2013
INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	'
INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	'
	13.                            INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
		Three months ended December 31,
		2013			2012
	Supplemental disclosure of cash flow information:
	Cash paid during the year for:
	Interest	$	138,000		$	146,000
	Income taxes (refunded) paid	$	(78,000	)	$	5,000
	Supplemental disclosure of non-cash investing and financing activities:
	Payable to affiliate for investment in land development partnerships	$	1,000,000		$	-
	Capital expenditure accruals related to oil and natural gas exploration and development increased $82,000 and $844,000 during the three months ended December 31, 2013 and 2012, respectively. Additionally, during the three months ended December 31, 2013 and 2012, capital expenditure accruals related to oil and natural gas asset retirement obligations increased $57,000 and $48,000, respectively.

OIL_AND_NATURAL_GAS_PROPERTIES

OIL AND NATURAL GAS PROPERTIES	3 Months Ended
	Dec. 31, 2013
OIL AND NATURAL GAS PROPERTIES	'
OIL AND NATURAL GAS PROPERTIES	'
	14.                            OIL AND NATURAL GAS PROPERTIES
	Under the full cost method of accounting, the Company performs quarterly ceiling test calculations. Barnwell’s net capitalized costs exceeded the ceiling limitation at December 31, 2012. As such, Barnwell reduced the carrying value of its oil and natural gas properties by $2,327,000 during the three months ended December 31, 2012. No such reduction was necessary during the three months ended December 31, 2013. The reduction is included in the Condensed Consolidated Statements of Operations under the caption “Reduction of carrying value of assets.”

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	3 Months Ended
	Dec. 31, 2013
SUBSEQUENT EVENT	'
SUBSEQUENT EVENT	'
	15.                            SUBSEQUENT EVENT
	In January 2014, Barnwell paid $1,000,000 to fund the remainder of the acquisition price for the land development partnership interests purchased in November 2013. This amount is accrued under the caption “Payable to affiliate” in the Condensed Consolidated Balance Sheets at December 31, 2013. An additional $814,000 was borrowed on the land investment loan to partially fund the remainder of the acquisition price, bringing the total borrowings under the land investment loan to the facility maximum of $5,000,000.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Principles of Consolidation	'
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Barnwell Industries, Inc. and all majority-owned subsidiaries (collectively referred to herein as “Barnwell,” “we,” “our,” “us,” or the “Company”), including a 77.6%-owned land investment general partnership (Kaupulehu Developments), a 75%-owned land investment partnership (KD Kona 2013 LLLP) and two 80%-owned joint ventures (Kaupulehu 2007, LLLP and Kaupulehu Investors, LLC). All significant intercompany accounts and transactions have been eliminated.
	Barnwell’s investments in both unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method.
	Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars.
Unaudited Interim Financial Information	'
	Unaudited Interim Financial Information
	The accompanying unaudited condensed consolidated financial statements and notes have been prepared by Barnwell in accordance with the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These condensed consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Barnwell’s September 30, 2013 Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of September 30, 2013 has been derived from audited consolidated financial statements.
	In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at December 31, 2013, results of operations, comprehensive loss, cash flows and equity for the three months ended December 31, 2013 and 2012, have been made. The results of operations for the period ended December 31, 2013 are not necessarily indicative of the operating results for the full year.
Use of Estimates	'
	Use of Estimates
	The preparation of the financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates.
Restricted Cash	'
	Restricted Cash
	Restricted cash consists of deposits for interest reserve and collateral for our land investment loan.
Equity Method Investments	'
	Equity Method Investments
	Affiliated companies, which are limited partnerships or similar entities, in which Barnwell holds more than a 3 to 5% ownership interest, are accounted for as equity method investments. Equity method investment adjustments include Barnwell’s proportionate share of investee income or loss, adjustments to recognize certain differences between Barnwell’s carrying value and Barnwell’s equity in net assets of the investee at the date of investment, impairments, and other adjustments required by the equity method. Gain or losses are realized when such investments are sold.
	Investments in equity method investees are evaluated for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amounts of the assets exceed their respective fair values, additional impairment tests are performed to measure the amounts of the impairment losses, if any. When an impairment test demonstrates that the fair value of an investment is less than its carrying value, management will determine whether the impairment is either temporary or other-than-temporary. Examples of factors which may be indicative of an other-than-temporary impairment include (i) the length of time and extent to which fair value has been less than carrying value, (ii) the financial condition and near-term prospects of the investee, and (iii) the intent and ability to retain the investment in the investee for a period of time sufficient to allow for any anticipated recovery in fair value. If the decline in fair value is determined by management to be other-than-temporary, the carrying value of the investment is written down to its estimated fair value as of the balance sheet date of the reporting period in which the assessment is made.
Variable Interest Entities	'
	Variable Interest Entities
	The consolidation of VIEs is required when an enterprise has a controlling financial interest and is therefore the VIE’s primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The determination of whether an entity is a VIE and, if so, whether the Company is primary beneficiary, may require significant judgment.
	Barnwell analyzes its unconsolidated affiliates in which it has an investment to determine whether the unconsolidated entities are VIEs and, if so, whether the Company is the primary beneficiary. This analysis includes a qualitative review based on an evaluation of the design of the entity, its organizational structure, including decision making ability and financial agreements, as well as a quantitative review. At December 31, 2013, our unconsolidated affiliates that have been determined to be VIEs are accounted under the equity method because we do not have a controlling financial interest and are therefore not the VIE’s primary beneficiary (see Note 5).
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” This update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The Company adopted the provisions of this ASU effective October 1, 2013. The adoption of this ASU impacted the presentation of Barnwell’s accumulated other comprehensive income footnote disclosures.

LOSS_PER_COMMON_SHARE_Tables

LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Dec. 31, 2013
LOSS PER COMMON SHARE	'
Reconciliations between net loss attributable to the entity's stockholders and common shares outstanding of the basic and diluted net loss per share computations	'
		Three months ended December 31, 2013
		Net Loss				Shares		Per-Share
		(Numerator)				(Denominator)		Amount
	Basic net loss per share		$	(989,000	)		8,277,160		$	(0.12	)
	Effect of dilutive securities - common stock options		-				-
	Diluted net loss per share		$	(989,000	)		8,277,160		$	(0.12	)
		Three months ended December 31, 2012
		Net Loss				Shares		Per-Share
		(Numerator)				(Denominator)		Amount
	Basic net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)
	Effect of dilutive securities - common stock options		-				-
	Diluted net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)

SHAREBASED_PAYMENTS_Tables

SHARE-BASED PAYMENTS (Tables)	3 Months Ended
	Dec. 31, 2013
Share-based payments	'
Schedule of share-based compensation benefit	'
		Three months ended
		December 31,
		2013					2012
	Share-based compensation benefit		$	(175,000	)			$	(32,000	)
	Income tax effect		$	-				$	-
Equity-classified share options	'
Share-based payments	'
Schedule of assumptions used in estimating fair value	'
	The following assumptions were used in estimating fair value for equity-classified share options granted in the three months ended December 31, 2013:
	Expected volatility	55.60%
	Expected dividends	0.00%
	Expected term (in years)	10
	Risk-free interest rate	3.00%
	Expected forfeitures	None
Summary of the activity in share options	'
											Weighted-
											Average
						Weighted-					Remaining
						Average					Contractual		Aggregate
						Exercise					Term		Intrinsic
	Options	Shares				Price					(in years)		Value
	Outstanding at October 1, 2013		60,000				$	8.62
	Granted		30,000				3.01
	Exercised		-
	Expired/Forfeited		-
	Outstanding at December 31, 2013		90,000				$	6.75				3.9		$	-
	Exercisable at December 31, 2013		60,000				$	8.62				0.9		$	-
Liability-classified share options	'
Share-based payments	'
Schedule of share-based compensation benefit	'
		Three months ended December 31,
		2013						2012
	Due to vesting			$	7,000					$	18,000
	Due to remeasurement				(184,000	)					(50,000	)
	Total share-based compensation benefit for liability-based awards			$	(177,000	)				$	(32,000	)
Schedule of assumptions used in estimating fair value	'
		Three months ended December 31,
		2013		2012
	Expected volatility range	49.4% to 62.6%		32.6% to 66.1%
	Weighted-average volatility	56.50%		59.00%
	Expected dividends	0.00%		0.00%
	Expected term (in years)	0.9 to 10.0		0.2 to 7.0
	Risk-free interest rate	0.1% to 3.0%		0.1% to 1.2%
	Expected forfeitures	None		None
Summary of the activity in share options	'
											Weighted-
											Average
						Weighted-					Remaining
						Average					Contractual		Aggregate
						Exercise					Term		Intrinsic
	Options	Shares				Price					(in years)		Value
	Outstanding at October 1, 2013		717,250				$	8.37
	Granted		30,000					3.01
	Exercised		-
	Expired/Forfeited		-
	Outstanding at December 31, 2013		747,250				$	8.15				4.4		$	-
	Exercisable at December 31, 2013		639,750				$	8.86				3.9		$	-

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Dec. 31, 2013
INVESTMENTS	'
Summary of investments	'
		December 31,				September 30,
		2013				2013
	Investment in two residential parcels			$	2,331,000		$	2,331,000
	Investment in land development partnerships				4,993,000			-
	Investment in leasehold land interest – Lot 4C				50,000			50,000
	Total investments			$	7,374,000		$	2,381,000
Summary of financial information for the land development partnerships	'
	Summarized financial information for the land development partnerships is as follows for the period of November 27, 2013 to December 31, 2013:
	Revenue	$	269,000
	Gross profit	$	211,000
	Loss from operations	$	(386,000	)
	Net loss	$	(381,000	)
Kaupulehu Developments	'
INVESTMENTS	'
Summary of Increment I percentage of sales payment revenues received	'
	The following table summarizes the Increment I percentage of sales payment revenues received during the three months ended December 31, 2013 (no amounts were received during the three months ended December 31, 2012). This sale occurred prior to our purchase of an ownership interest in the land development partnerships:
	Sale of interest in leasehold land:
	Proceeds	$	140,000
	Fees		(20,000	)
	Revenues – sale of interest in leasehold land, net	$	120,000

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	3 Months Ended
	Dec. 31, 2013
LONG-TERM DEBT	'
Schedule of long-term debt	'
		December 31,				September 30,
		2013				2013
	Canadian revolving credit facility		$	12,000,000			$	12,000,000
	Real estate loan			4,506,000				4,640,000
	Land investment loan			4,186,000				-
				20,692,000				16,640,000
	Less: current portion			(7,106,000	)			(5,240,000	)
	Total long-term debt		$	13,586,000			$	11,400,000

RETIREMENT_PLANS_Tables

RETIREMENT PLANS (Tables)	3 Months Ended
	Dec. 31, 2013
RETIREMENT PLANS	'
Schedule of components of net periodic benefit cost	'
		Pension Plan						SERP							Postretirement Medical
		Three months ended December 31,
		2013			2012				2013			2012				2013			2012
	Service cost	$	59,000		$	68,000			$	12,000		$	13,000			$	3,000		$	4,000
	Interest cost	85,000			75,000				16,000			14,000				13,000			12,000
	Expected return on plan assets	(105,000		)	(97,000		)		-			-				-			-
	Amortization of prior service cost (credit)	1,000			1,000				(1,000		)	(1,000		)		3,000			34,000
	Amortization of net actuarial loss (gain)	9,000			26,000				1,000			5,000				(5,000		)	-
	Net periodic benefit cost	$	49,000		$	73,000			$	28,000		$	31,000			$	14,000		$	50,000

INCOME_TAXES_Tables

INCOME TAXES (Tables)	3 Months Ended
	Dec. 31, 2013
INCOME TAXES	'
Components of loss before income taxes, after adjusting the loss for non-controlling interests	'
		Three months ended
		December 31,
		2013			2012
	United States	$	(850,000	)	$	(1,288,000	)
	Canada	(201,000		)	(2,022,000		)
		$	(1,051,000	)	$	(3,310,000	)
Schedule of components of the income tax benefit	'
		Three months ended
		December 31,
		2013			2012
	Current	$	(129,000	)	$	558,000
	Deferred	67,000			(1,122,000		)
		$	(62,000	)	$	(564,000	)

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Dec. 31, 2013
SEGMENT INFORMATION	'
Schedule of financial information related to reporting segments	'
		Three months ended
		December 31,
		2013			2012
	Revenues:
	Oil and natural gas	$	5,327,000		$	5,640,000
	Land investment	120,000			-
	Contract drilling	1,609,000			717,000
	Other	141,000			166,000
	Total before interest income	7,197,000			6,523,000
	Interest income	4,000			28,000
	Total revenues	$	7,201,000		$	6,551,000
	Depletion, depreciation, and amortization:
	Oil and natural gas	$	2,059,000		$	2,535,000
	Contract drilling	78,000			115,000
	Other	27,000			29,000
	Total depletion, depreciation, and amortization	$	2,164,000		$	2,679,000
	Reduction of carrying value of assets:
	Oil and natural gas	$	-		$	2,327,000
	Operating profit (loss) (before general and administrative expenses):
	Oil and natural gas	$	647,000		$	(1,215,000	)
	Land investment	120,000			-
	Contract drilling	219,000			(6,000		)
	Other	114,000			137,000
	Total operating profit (loss)	1,100,000			(1,084,000		)
	Equity in loss of affiliates:
	Land investment	(147,000		)	-
	General and administrative expenses	(1,856,000		)	(2,142,000		)
	Interest expense	(163,000		)	(152,000		)
	Interest income	4,000			28,000
	Loss before income taxes	$	(1,062,000	)	$	(3,350,000	)
	Assets By Segment:
		December 31,			September 30,
		2013			2013
	Oil and natural gas (1)	$	39,148,000		$	40,559,000
	Land investment (2)	7,374,000			2,381,000
	Contract drilling (2)	3,114,000			2,905,000
	Residential real estate (2)	5,448,000			5,448,000
	Other:
	Cash and cash equivalents	5,269,000			7,828,000
	Restricted cash	2,000,000			-
	Corporate and other	3,576,000			3,593,000
	Total	$	65,929,000		$	62,714,000
	(1)          Primarily located in the province of Alberta, Canada.
	(2)          Located in Hawaii.

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Dec. 31, 2013
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
Schedule of changes in component of accumulated other comprehensive income (loss)	'
		Three months ended
		December 31,
		2013			2012
	Foreign currency translation:
	Beginning accumulated foreign currency translation	$	3,701,000		$	5,020,000
	Change in cumulative translation adjustment	(780,000		)	(370,000		)
	Income taxes	-			-
	Ending accumulated foreign currency translation	2,921,000			4,650,000
	Retirement plans:
	Beginning accumulated retirement plans benefit cost	(710,000		)	(2,698,000		)
	Amortization of prior service cost	3,000			34,000
	Amortization of net actuarial loss	5,000			31,000
	Income taxes	-			-
	Ending accumulated retirement plans benefit cost	(702,000		)	(2,633,000		)
	Accumulated other comprehensive income, net of taxes	$	2,219,000		$	2,017,000

INFORMATION_RELATING_TO_THE_CO1

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	3 Months Ended
	Dec. 31, 2013
INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	'
Schedule of supplemental cash flow information	'
		Three months ended December 31,
		2013			2012
	Supplemental disclosure of cash flow information:
	Cash paid during the year for:
	Interest	$	138,000		$	146,000
	Income taxes (refunded) paid	$	(78,000	)	$	5,000
	Supplemental disclosure of non-cash investing and financing activities:
	Payable to affiliate for investment in land development partnerships	$	1,000,000		$	-

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Dec. 31, 2013
	jointventure
Principles of Consolidation	'
Number of 80%-owned joint ventures	2
Minimum	'
Equity Method Investments	'
Ownership interest in affiliated companies required to account investments under equity method investments (as a percent)	3.00%
Maximum	'
Equity Method Investments	'
Ownership interest in affiliated companies required to account investments under equity method investments (as a percent)	5.00%
Kaupulehu Developments	'
Principles of Consolidation	'
Ownership interest in subsidiaries (as a percent)	77.60%
KD Kona 2013 LLLP	'
Principles of Consolidation	'
Ownership interest in subsidiaries (as a percent)	75.00%
Kaupulehu 2007, LLLP	'
Principles of Consolidation	'
Ownership interest in subsidiaries (as a percent)	80.00%
Kaupulehu Investors, LLC	'
Principles of Consolidation	'
Ownership interest in subsidiaries (as a percent)	80.00%

LOSS_PER_COMMON_SHARE_Details

LOSS PER COMMON SHARE (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net Loss (Numerator)	'	'
Basic	($989,000)	($2,746,000)
Diluted	($989,000)	($2,746,000)
Shares (Denominator)	'	'
Basic (in shares)	8,277,160	8,277,160
Diluted (in shares)	8,277,160	8,277,160
Per-Share Amount	'	'
Basic net loss per share (in dollars per share)	($0.12)	($0.33)
Diluted net loss per share (in dollars per share)	($0.12)	($0.33)
Options	'	'
Antidilutive shares of common stock excluded from the computation of diluted shares	'	'
Antidilutive shares excluded from computation of earnings per share (in shares)	837,250	807,250

SHAREBASED_PAYMENTS_Details

SHARE-BASED PAYMENTS (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
SHARE-BASED PAYMENTS	'	'
Share-based compensation benefit	($175,000)	($32,000)
Total unrecognized compensation cost	$119,000	'
Period over which unrecognized compensation cost is expected to be recognized	'3 years 10 months 24 days	'
Weighted-average grant date fair value of employee options granted (in dollars per share)	$2.04	'
Options granted (in shares)	'	0

SHAREBASED_PAYMENTS_Details_2

SHARE-BASED PAYMENTS (Details 2) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Shares	'	'
Granted (in shares)	'	0
Components of the total share-based compensation	'	'
Total share based compensation (benefit) expense	($175,000)	($32,000)
Equity-classified share options	'	'
Share-based payments	'	'
Vesting period	'P4Y	'
Expiration period	'10 years	'
Assumptions used in estimating fair value	'	'
Expected volatility (as a percent)	55.60%	'
Expected dividends (as a percent)	0.00%	'
Expected term	'10 years	'
Risk-free interest rate (as a percent)	3.00%	'
Expected forfeitures (as a percent)	0.00%	'
Shares	'	'
Outstanding at the beginning of the period (in shares)	60,000	'
Granted (in shares)	30,000	'
Outstanding at the end of the period (in shares)	90,000	'
Exercisable at the end of period (in shares)	60,000	'
Weighted-Average Exercise Price	'	'
Outstanding at the beginning of the period (in dollars per share)	$8.62	'
Granted (in dollars per share)	$3.01	'
Outstanding at the end of the period (in dollars per share)	$6.75	'
Exercisable at the end of period (in dollars per share)	$8.62	'
Weighted-Average Remaining Contractual Term	'	'
Options outstanding, weighted average contractual life	'3 years 10 months 24 days	'
Options exercisable, weighted average contractual life	'10 months 24 days	'
Components of the total share-based compensation	'	'
Total share based compensation (benefit) expense	2,000	0
Liability-classified share options	'	'
Share-based payments	'	'
Vesting period	'P4Y	'
Expiration period	'10 years	'
Assumptions used in estimating fair value	'	'
Weighted-average volatility (as a percent)	56.50%	59.00%
Expected dividends (as a percent)	0.00%	0.00%
Expected forfeitures (as a percent)	0.00%	0.00%
Shares	'	'
Outstanding at the beginning of the period (in shares)	717,250	'
Granted (in shares)	30,000	'
Outstanding at the end of the period (in shares)	747,250	'
Exercisable at the end of period (in shares)	639,750	'
Weighted-Average Exercise Price	'	'
Outstanding at the beginning of the period (in dollars per share)	$8.37	'
Granted (in dollars per share)	$3.01	'
Outstanding at the end of the period (in dollars per share)	$8.15	'
Exercisable at the end of period (in dollars per share)	$8.86	'
Weighted-Average Remaining Contractual Term	'	'
Options outstanding, weighted average contractual life	'4 years 4 months 24 days	'
Options exercisable, weighted average contractual life	'3 years 10 months 24 days	'
Components of the total share-based compensation	'	'
Due to vesting	7,000	18,000
Due to remeasurement	-184,000	-50,000
Total share based compensation (benefit) expense	($177,000)	($32,000)
Liability-classified share options | Minimum	'	'
Assumptions used in estimating fair value	'	'
Expected volatility (as a percent)	49.40%	32.60%
Expected term	'10 months 24 days	'2 months 12 days
Risk-free interest rate (as a percent)	0.10%	0.10%
Liability-classified share options | Maximum	'	'
Assumptions used in estimating fair value	'	'
Expected volatility (as a percent)	62.60%	66.10%
Expected term	'10 years	'7 years
Risk-free interest rate (as a percent)	3.00%	1.20%

REAL_ESTATE_HELD_FOR_SALE_Deta

REAL ESTATE HELD FOR SALE (Details) (Kaupulehu 2007)	Dec. 31, 2013
	home
Kaupulehu 2007	'
Real estate held for sale	'
Number of luxury residences owned	1

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)

3 Months Ended

0 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Nov. 27, 2013

Dec. 31, 2013

Sep. 30, 2013

Nov. 27, 2013

Dec. 31, 2013

Jan. 31, 2014

Nov. 27, 2013

Jan. 31, 2014

Nov. 27, 2013

Nov. 27, 2013

Nov. 27, 2013

Nov. 27, 2013

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2012

Land investment loan

Investment in two residential parcels

Investment in two residential parcels

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Investment in leasehold land interest - Lot 4C

Investment in leasehold land interest - Lot 4C

Kaupulehu Developments

Kaupulehu Developments

parcel

limitedliabilitylimitedpartnership

Subsequent event

Land investment loan

Land investment loan

WB Kukio Resorts, LLC, WB Maniniowali, LLC, and WB Kaupulehu, LLC.

WB Kukio Resorts, LLC

WB Maniniowali, LLC

WB Kaupulehu, LLC.

acre

increments

Subsequent event

acre

Summary of investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total investments

$7,374,000

$2,381,000

'

$2,331,000

$2,331,000

'

$4,993,000

'

'

'

'

'

'

'

$50,000

$50,000

'

'

Number of residential parcels held for investment

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of limited liability limited partnerships formed

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

Ownership interest acquired (as a percent)

'

'

'

'

'

'

'

'

'

'

'

19.60%

19.60%

19.60%

'

'

'

'

Ownership interest acquired, aggregate cost

'

'

'

'

'

'

'

'

'

'

5,140,000

'

'

'

'

'

'

'

Allocated partnership losses

147,000

'

'

'

'

'

147,000

'

'

'

'

'

'

'

'

'

'

'

Amount borrowed

'

'

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

Proceeds from issuance of debt to fund acquisition

'

'

4,186,000

'

'

'

'

'

4,140,000

814,000

'

'

'

'

'

'

'

'

Payments to fund the remainder of the acquisition

'

'

'

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

'

Bonds issued by the surety

'

'

'

'

'

'

4,700,000

'

'

'

'

'

'

'

'

'

'

'

Maximum loss exposure

'

'

'

'

'

'

9,693,000

'

'

'

'

'

'

'

'

'

'

'

Area of land (in acres)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000

'

870

'

Number of development increments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

Sale of interest in leasehold land: Proceeds

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

140,000

0

Sale of interest in leasehold land: Fees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-20,000

'

Revenues sale of interest in leasehold land, net

120,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

120,000

'

Summarized financial information

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenue

'

'

'

'

'

'

269,000

'

'

'

'

'

'

'

'

'

'

'

Gross profit

'

'

'

'

'

'

211,000

'

'

'

'

'

'

'

'

'

'

'

Loss from operations

'

'

'

'

'

'

-386,000

'

'

'

'

'

'

'

'

'

'

'

Net loss

'

'

'

'

'

'

($381,000)

'

'

'

'

'

'

'

'

'

'

'

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details)

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2013

Nov. 27, 2013

Dec. 31, 2013

Nov. 27, 2013

Jan. 31, 2014

Nov. 27, 2013

Nov. 27, 2013

USD ($)

USD ($)

Canadian revolving credit facility

Canadian revolving credit facility

Canadian revolving credit facility

Real estate loan

Real estate loan

Land investment loan

Land investment loan

Land investment loan

Land investment loan

Land investment loan

Land investment loan

USD ($)

CAD

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Investment in land development partnerships

Investment in land development partnerships

Investment in land development partnerships

Base rate

quarterlyrepayments

USD ($)

Subsequent event

Kaupulehu 2007, LLLP

Investment in land development partnerships

USD ($)

USD ($)

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt

$20,692,000

$16,640,000

$12,000,000

'

$12,000,000

$4,506,000

$4,640,000

'

$4,186,000

'

'

'

'

Less: current portion

-7,106,000

-5,240,000

'

'

'

'

'

'

'

'

'

'

'

Total long-term debt

13,586,000

11,400,000

'

'

'

'

'

'

'

'

'

'

'

Long-term debt, additional disclosures

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

18,804,000

20,000,000

'

'

'

'

'

5,000,000

'

'

'

Unused credit available under the facility

'

'

6,804,000

'

'

'

'

'

'

'

'

'

'

Interest rate on the facility (as a percent)

'

'

2.66%

'

'

'

'

'

'

'

'

'

'

Renewal period with no required debt repayments

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

Required debt repayments on renewal of facility for one year

'

'

0

'

'

'

'

'

'

'

'

'

'

Period of term loan if credit facility term date is not extended

'

'

'2 years

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

'

'

'

'

'

3.53%

'

'

'

4.50%

'

'

'

Proceeds from issuance of debt to fund acquisition

'

'

'

'

'

'

'

4,186,000

'

4,140,000

814,000

'

'

Amount borrowed

'

'

'

'

'

'

'

'

'

'

5,000,000

'

'

Extension period

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

Interest rate base

'

'

'

'

'

'

'

'

'

'

'

'

'base rate

Interest rate margin (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

Required principal payment upon sale of real estate held for sale

'

'

'

'

'

'

'

'

'

'

'

1,400,000

'

Current liability

19,171,000

16,447,000

'

'

'

'

'

'

'

'

'

1,400,000

'

Collateral amount in interest reserve account

'

'

'

'

'

'

'

'

'

1,000,000

'

'

'

Collateral amount in pledged deposit account

'

'

'

'

'

'

'

'

'

1,000,000

'

'

'

Repayment schedule if the facility is converted to a two-year term loan

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance to be repaid in first year of the term period

'

'

20.00%

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance to be repaid per quarter in first year of the term period

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance to be repaid in second year of the term period

'

'

80.00%

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance to be repaid per quarter for first three quarters in second year of the term period

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance to be repaid in the final quarter of the second year of the term period

'

'

65.00%

'

'

'

'

'

'

'

'

'

'

Number of quarterly repayments of 5% that would be due within one year

'

'

2

'

'

'

'

'

'

'

'

'

'

Amount included in the current portion of long-term debt as two quarterly repayments would be due within one year

'

'

$1,200,000

'

'

'

'

'

'

'

'

'

'

Percentage of outstanding loan balance

'

'

10.00%

'

'

'

'

'

'

'

'

'

'

RETIREMENT_PLANS_Details

RETIREMENT PLANS (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Pension Plan	'	'
Retirement plans	'	'
Service cost	$59,000	$68,000
Interest cost	85,000	75,000
Expected return on plan assets	-105,000	-97,000
Amortization of prior service cost (credit)	1,000	1,000
Amortization of net actuarial loss (gain)	9,000	26,000
Net periodic benefit cost	49,000	73,000
Estimated contributions	600,000	'
SERP	'	'
Retirement plans	'	'
Service cost	12,000	13,000
Interest cost	16,000	14,000
Amortization of prior service cost (credit)	-1,000	-1,000
Amortization of net actuarial loss (gain)	1,000	5,000
Net periodic benefit cost	28,000	31,000
Postretirement Medical	'	'
Retirement plans	'	'
Service cost	3,000	4,000
Interest cost	13,000	12,000
Amortization of prior service cost (credit)	3,000	34,000
Amortization of net actuarial loss (gain)	-5,000	'
Net periodic benefit cost	$14,000	$50,000

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Components of loss before income taxes, after adjusting the loss for non-controlling interests	'	'
United States	($850,000)	($1,288,000)
Canada	-201,000	-2,022,000
Total	-1,051,000	-3,310,000
Components of the income tax benefit	'	'
Current	-129,000	558,000
Deferred	67,000	-1,122,000
Total	($62,000)	($564,000)
Effective consolidated income tax benefit rate (as a percent)	6.00%	17.00%

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013
Revenues:	'	'	'
Total before interest income	$7,197,000	$6,523,000	'
Interest income	4,000	28,000	'
Total revenues	7,201,000	6,551,000	'
Depletion, depreciation, and amortization:	'	'	'
Total depletion, depreciation, and amortization	2,164,000	2,679,000	'
Reduction of carrying value of assets:	'	'	'
Total reduction of carrying value of assets	'	2,327,000	'
Operating profit (loss) (before general and administrative expenses):	'	'	'
Total operating profit (loss)	1,100,000	-1,084,000	'
Equity in loss of affiliates:	'	'	'
Equity in loss of affiliates	-147,000	'	'
General and administrative expenses	-1,856,000	-2,142,000	'
Interest expense	-163,000	-152,000	'
Interest income	4,000	28,000	'
Loss before income taxes	-1,062,000	-3,350,000	'
Assets By Segment:	'	'	'
Assets	65,929,000	'	62,714,000
Intersegment elimination	'	'	'
Revenues:	'	'	'
Total revenues	0	0	'
Cash and cash equivalents	'	'	'
Assets By Segment:	'	'	'
Assets	5,269,000	'	7,828,000
Restricted cash	'	'	'
Assets By Segment:	'	'	'
Assets	2,000,000	'	'
Oil and natural gas	'	'	'
Revenues:	'	'	'
Total before interest income	5,327,000	5,640,000	'
Depletion, depreciation, and amortization:	'	'	'
Total depletion, depreciation, and amortization	2,059,000	2,535,000	'
Reduction of carrying value of assets:	'	'	'
Total reduction of carrying value of assets	0	2,327,000	'
Operating profit (loss) (before general and administrative expenses):	'	'	'
Total operating profit (loss)	647,000	-1,215,000	'
Assets By Segment:	'	'	'
Assets	39,148,000	'	40,559,000
Land investment	'	'	'
Revenues:	'	'	'
Total before interest income	120,000	'	'
Operating profit (loss) (before general and administrative expenses):	'	'	'
Total operating profit (loss)	120,000	'	'
Equity in loss of affiliates:	'	'	'
Equity in loss of affiliates	-147,000	'	'
Assets By Segment:	'	'	'
Assets	7,374,000	'	2,381,000
Contract drilling	'	'	'
Revenues:	'	'	'
Total before interest income	1,609,000	717,000	'
Depletion, depreciation, and amortization:	'	'	'
Total depletion, depreciation, and amortization	78,000	115,000	'
Operating profit (loss) (before general and administrative expenses):	'	'	'
Total operating profit (loss)	219,000	-6,000	'
Assets By Segment:	'	'	'
Assets	3,114,000	'	2,905,000
Residential real estate	'	'	'
Assets By Segment:	'	'	'
Assets	5,448,000	'	5,448,000
Other	'	'	'
Revenues:	'	'	'
Total before interest income	141,000	166,000	'
Depletion, depreciation, and amortization:	'	'	'
Total depletion, depreciation, and amortization	27,000	29,000	'
Operating profit (loss) (before general and administrative expenses):	'	'	'
Total operating profit (loss)	114,000	137,000	'
Corporate and other	'	'	'
Assets By Segment:	'	'	'
Assets	$3,576,000	'	$3,593,000

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013
Changes in foreign currency translation	'	'	'
Balance at beginning of period	$3,701,000	$5,020,000	'
Change in cumulative translation adjustment	-780,000	-370,000	'
Balance at end of the period	2,921,000	4,650,000	'
Changes in retirement plans	'	'	'
Balance at beginning of period	-710,000	-2,698,000	'
Amortization of prior service cost	3,000	34,000	'
Amortization of net actuarial loss	5,000	31,000	'
Balance at end of the period	-702,000	-2,633,000	'
Accumulated other comprehensive income, net of taxes	$2,219,000	$2,017,000	$2,991,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Dec. 31, 2013	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES	'	'
Environmental remediation costs	$781,000	$783,000

INFORMATION_RELATING_TO_THE_CO2

INFORMATION RELATING TO THE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Details) (USD $)	3 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Supplemental disclosures of cash flow information:	'	'
Interest	$138,000	$146,000
Income taxes (refunded) paid	-78,000	5,000
Supplemental disclosure of non-cash investing and financing activities:	'	'
Payable to affiliate for investment in land development partnerships	1,000,000	'
Oil and natural gas	'	'
Supplemental disclosures of cash flow information:	'	'
Increase in capital expenditure accruals related to oil and natural gas exploration and development	82,000	844,000
Increase in capital expenditure accruals related to oil and natural gas asset retirement obligations	$57,000	$48,000

OIL_AND_NATURAL_GAS_PROPERTIES1

OIL AND NATURAL GAS PROPERTIES (Details) (USD $)	3 Months Ended
	Dec. 31, 2012
Oil and natural gas properties	'
Reduction of carrying value of assets	$2,327,000

SUBSEQUENT_EVENT_Details

SUBSEQUENT EVENT (Details) (USD $)	0 Months Ended		1 Months Ended
	Nov. 27, 2013	Nov. 27, 2013	Jan. 31, 2014	Jan. 31, 2014
	Land investment loan	Land development partnerships	Subsequent event	Subsequent event
		Land investment loan	Land development partnerships	Land development partnerships
				Land investment loan
Subsequent events	'	'	'	'
Payments to fund the remainder of the acquisition	'	'	$1,000,000	'
Proceeds from issuance of debt to fund acquisition	4,186,000	4,140,000	'	814,000
Amount borrowed	'	'	'	$5,000,000