Property, price drops cause $2.7 million loss for Barnwell

By Star-Advertiser staff

POSTED: 01:30 a.m. HST, Feb 09, 2013

~~<p>Honolulu-based Barnwell Industries Inc. said Friday a decline in the book value of its oil and natural gas properties in Canada was the main reason the company's loss widened in the final quarter of 2012 compared with the same period a year earlier.</p>
<p>Barnwell lost $2.7 million, or 33 cents a share, in its first fiscal quarter, compared with a loss of $282,000, or 3 cents a share, in the year-ago quarter.</p>
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Honolulu-based Barnwell Industries Inc. said Friday a decline in the book value of its oil and natural gas properties in Canada was the main reason the company's loss widened in the final quarter of 2012 compared with the same period a year earlier.

Barnwell lost $2.7 million, or 33 cents a share, in its first fiscal quarter, compared with a loss of $282,000, or 3 cents a share, in the year-ago quarter. Login for more...