BARNWELL INDUSTRIES INC — Director's Dealing 2007

Jan 9, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BARNWELL INDUSTRIES INC (BRN)
CIK: 0000010048
Period of Report: 2007-01-05

Reporting Person: Steckley Warren Douglas (VP-Canadian Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-05	Common Stock	M	80000	$2.6042	Acquired	80000	Direct
2007-01-05	Common Stock	D	80000	$23.5	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-05	Stock Appreciation Right	$2.6042	M	80000	Disposed	2008-06-01	Common Stock (80000)	Direct

Footnotes

F1: Twenty percent of the Stock Appreciation Rights vested on each of the first five anniversaries of the date of grant, and thus all rights became exercisable as of 06/01/2003.