BARNWELL INDUSTRIES INC — Director's Dealing 2004

Apr 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BARNWELL INDUSTRIES INC (BRN)
CIK: 0000010048
Period of Report: 2004-04-21

Reporting Person: KINZLER ALEXANDER C (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-21	Common Stock	M	6500	$19.625	Acquired	29170	Direct
2004-04-21	Common Stock	D	6500	$45	Disposed	22670	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-21	Stock Appreciation Right	$19.625	M	6500	Disposed	2005-03-06	Common Stock (6500)	Direct