BARNWELL INDUSTRIES INC — Director's Dealing 2006

Aug 21, 2006

SEC Form 4/A — Form 4/A

Issuer: BARNWELL INDUSTRIES INC (BRN)
CIK: 0000010048
Period of Report: 2006-08-17

Reporting Person: Steckley Warren Douglas (V.P.-Canadian Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-17	Common Stock	M	60000	$2.6042	Acquired	60000	Direct
2006-08-17	Common Stock	D	60000	$21.93	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-17	Stock Appreciation Right	$2.6042	M	60000	Disposed	2008-06-01	Common Stock (60000)	Direct

Footnotes

F1: As adjusted for all stock splits from the date of grant through the date hereof.

F2: Twenty percent of the Stock Appreciation Rights (or 36,000 rights) vested on each of the first five anniversaries of the date of grant, and thus all rights became execiseable as of 06/01/2003.

F3: The Form 4, as originally filed, incorrectly reported the exercise date and the disposition price. The Form 4, as amended by this Form 4/A, correctly reports such information. In addition, note that the Form 4 as originally filed included a line item reporting the grant on 6/1/98 of 180,000 stock appreciation rights. This transaction never needed to be reported on Form 4, as the 180,000 stock appreciation rights had already been granted to the filer when he became an executive officer of the company and subject to the Section 16 reporting system in December 1998, and thus should have been reported on Form 3 at such time. These 180,000 stock appreciation rights were reported as part of the filer's holdings in the Form 3 filed on 8/18/06. The Form 4 as originally filed is hereby amended to delete the second line item in Table II, which reported the grant of 180,000 stock appreciation rights on 6/1/98.