Barnwell Industries, Inc. · AMEX:BRN
Barnwell Industries — Investor Presentation (October 2022)
20 slides from Barnwell Industries's investor presentation, October 2022
Slide 1: Corporate Presentation October 2022
Corporate Presentation October 2022
Slide 2: Who We Are
Barnwell Industries, Inc. (NYSE: BRN) Who We Are Is engaged in oil and natural gas Invests in resort property Provides well drilling services development, development in and water production and Hawaii pumping system sales in Canada and installation and the US repairs in Hawaii Resort Property Water
Slide 3: Positioned for Growth
Positioned for Growth Barnwell Industries, Inc. is well-positioned to make accretive acquisitions and welcomes introductions from investors and intermediaries CASH NYSE-AMEX $12.5 MM on RETURNING CAPITAL TO LISTED Balance Sheet* SHAREHOLDERS COMPANY NO DEBT public since 1956 $.015/Quarter Regular Di
Slide 4: Oil & Gas
Oil & Gas Historically, the largest segment of Barnwell Industries, Inc. (“BII”) has been oil and natural gas exploration. Oil and gas activities in Canada are handled exclusively by BII’s subsidiaries Barnwell of Canada, Limited (“BOCL”) and Octavian Oil Limited (“OOL”) based in Calgary, Alberta, C
Slide 5: Canadian Oil & Natural Gas
Alberta Canadian Oil & Natural Gas Barnwell acquires and develops crude oil and natural gas properties in Alberta, Canada. BOCL assets fall into two categories: Twining Operations – Operated and Non-Operated interests in the Twining Pekisko Pool (1,300 boe/d currently) ▪ Producing from 70 wells ▪ Ap
Slide 6: Twining Overview
Twining Overview ▪ The Twining Pekisko pool has been producing since 1962 with most development occurring between 1973 and 1982. 157 vertical and 30 horizontal wells are currently producing. ▪ The pool formed in a Mississippian-aged carbonate subcrop that produces 30° API BOCL Lands oil and has an e
Slide 7: Twining New Opportunities
TWINING POOL HISTORICAL PRODUCTION Twining New Opportunities 100,000 ▪ Minimal decline from 2000 until 2012 with no drilling indicates under-development of the reservoir ▪ Most legacy vertical wells have <5% annual decline 10,000 ▪ Low production declines reduce maintenance capex requirements and ar
Slide 8: USA Non-Operated Properties
USA Non-Operated Properties BRN Initial ▪ Recent capital scarcity and lessons learned in the US upstream E&P space have Focus Area created compelling development opportunities ▪ Barnwell has partnered with industry-leading private operators, initially in the Anadarko Basin of Oklahoma ▪ The 8 well p
Slide 9: Resort Property Development
Resort Property Development Kūkiʻo and Ka’upulehu Barnwell, through several subsidiaries, has held a 10-20% minority interest in oceanside developments in the North Kona District of the Big Island of Hawaii for many years. This resort area is anchored by the ultra-luxury Kūkiʻo and Hualalai Resorts
Slide 10: Aloha from Kūkiʻo
Aloha from Kūkiʻo On Hawaii’s big island, the Kohala Coast is known for its idyllic climate, dramatic natural beauty, and sought-after destinations. The 3 remaining Kūkiʻo for-sale lots x = SOLD XX Phase II Development X Area X X X 10
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Slide 12: Water Well Drilling
Water Well Drilling Water Resources International, Inc. (“WRI”) explores and develops groundwater resources for government, commercial and private clients. WRI is the largest and highest quality well drilling firm in Hawaii and has successfully completed over $200 million in contracts over the past
Slide 13: Water Well Drilling
Water Well Drilling Hawaii Market The Hawaii water systems, well service and well repair market is niche with numerous barriers to entry. First, the remote geographic project locations present product delivery challenges from manufacturers and logistics. Further, contractor’s licensing requirements,
Slide 14: Financials
Financials Strong topline and market position REVENUE Oil & Gas Water Well Drilling Land Investment Other $18,347 $18,113 REVENUE $335 $312 NINE MONTHS THROUGH 6/30/22 $325 $1,738 $20,161,000 (THOUSANDS USD) $5,809 $10,994 MARKET POSITION REVENUE SE PT E MBE R 1 5 , 2 0 2 1 MARKET $30.0 MM $10,254 C
Slide 15: Current Financials
Current Financials 49% Year-over-Year Revenue Growth 2022 REVENUE GROWTH Oil & Gas Contract Drilling Land Investment Other $20,161 $91 $1,295 $13,499 $2,430 (THOUSANDS USD) $215 REVENUE $1,738 $4,220 $16,345 $7,326 2021 2022 NINE MONTHS (ENDED JUN 30) 15
Slide 16: Balance Sheet & Ownership
Balance Sheet & Ownership 2022 BALANCE SHEET OWNERSHIP JUNE 3 0 , 2 0 2 2 O F MO RE T HA N (X$ 1 , 0 0 0 USD) 5 % CO MMO N STO C K ($ 0 . 5 0 PA R VA LUE ) AT SE P 3 0 , 2 0 2 1 CASH $12,574 TOTAL ASSETS $36,342 JOSEPH E. MAGARO ALEXANDER C. KINZLER CURRENT LIABILITIES $8,197 CYNTHIA M. WHITE TOTAL
Slide 17: Management Team
Management Team ALEXANDER C. KINZLER CEO & President, COO, General Counsel Alex Kinzler is the CEO and President of Barnwell Industries, Inc. and serves on its board of directors. He was named CEO in 2016 and has held the positions of President and Chief Operating Officer since 2002. He earned B.A.
Slide 18: Board of Directors
Board of Directors Peter J. O’Malley1,2,3A,4 Chairman of the Board of the Company Founder of Kenosis Capital LLC Kenneth S. Grossman Professional Investor Francis J. Kelly1, 3, 4A Managing Partner of Fulcrum Macro Advisors LLC Alexander C. Kinzler 2 Chief Executive Officer and President of the Compa
Slide 19: Contact Us
Contact Us ADDRESS 1100 Alakea Street, Suite 500 Honolulu, HI 96813 PHONE +1 808 531 8400 E-MAIL barnwellinfo@brninc.com WEBSITE http://brninc.com/ INVESTOR https://ir.brninc.com/ RELATIONS 19
Slide 20: Forward-looking statements
The information contained in this presentation contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looki
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