UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 144
NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
ATTENTION: Transmit for filing 3 copies of this form concurrently with either
placing an order with a broker to execute sale or executing a sale directly with
a market maker.
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1(a) NAME OF ISSUER (Please type or print)| (b) IRS IDENT. NO. |(c) SEC FILE NO.
| |
Barnwell Industries, Inc. | 72-0496921 | 001-05103
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1(d) ADDRESS OF ISSUER STREET CITY STATE ZIP CODE | 1(e) TELEPHONE
| AREA CODE |NUMBER
1100 Alakea Street, Suite 2900, Honolulu, HI 96813 | |
| 808 |531-8400
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2(a) NAME OF PERSON FOR WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD
Russell M. Gifford
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2(b) SOCIAL SECURITY NO. (c) RELATIONSHIP TO ISSUER
OR IRS IDENT. NO.
Director, EVP, CFO, Treasurer,
Secretary
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2(d) ADDRESS STREET CITY STATE ZIP CODE
1100 Alakea St., Ste. 2900, Honolulu, HI 96813
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INSTRUCTION: The person filing this notice should contact the issuer to obtain
the I.R.S. Identification Number and the S.E.C. File Number.
SEC USE
3(a) (b) ONLY (c) (d) (e) (f) (g)
Title of the Name and Address of Broker- Number of Aggregate Number of Shares Approximate Name
Class of Broker Through Dealer Shares or Market or Other Units Date of Sale of
Securities Whom the Securities File Other Units Value Outstanding (See instr. 3(e)) Each
to be Sold are to be Offered Number to be Sold (See instr. 3(d))(See instr. 3(e)) (MO. DAY YR.)Securities
or Each Market Maker (See instr. 3(c)) Exchange
who is Acquiring (See instr. 3(g))
the Securities
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Common Stock Charles Schwab 15,000 $225,000 8,278,160 20 days AMEX
& Co., Inc.
700 Bishop Street
Suite 100
Honolulu, HI 96813
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INSTRUCTIONS:
1.(a) Name of issuer
(b) Issuer's I.R.S. Identification Number
(c) Issuer's S.E.C. file number, if any
(d) Issuer's address, including zip code
(e) Issuer's telephone number, including area code
2.(a) Name of person for whose account the securities are to be sold
(b) Such person's I.R.S. identification number, if such person is an entity
(c) Such person's relationship to the issuer (e.g., officer, director, 10%
stockholder, or member of immediate family of any of the foregoing)
(d) Such person's address, including zip code
3.(a) Title of the class of securities to be sold
(b) Name and address of each broker through whom the securities are intended
to be sold
(c) Number of shares or other units to be sold (if debt securities, give the
aggregate face amount)
(d) Aggregate market value of the securities to be sold as of a specified date
within 10 days prior to the filing of this notice
(e) Number of shares or other units of the class outstanding, or if debit
securities the face amount thereof outstanding, as shown by the most
recent report or statement published by the issuer
(f) Approximate date on which the securities are to be sold
(g) Name of each securities exchange, if any, on which the securities are
intended to be sold
TABLE I - SECURITIES TO BE SOLD
Furnish the following information with respect to the acquisition of the
securities to be sold and with respect to the payment of all or any part of the
purchase price or other consideration therefor:
Name of Person
from Whom Acquired Amount of Nature
Title of Date You Nature of (If gift, also give date Securities Date of of
the Class Acquired Acquisition Transaction donor acquired) Acquired Payment Payment
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Common Stock 05/2007 Stock Option Exercise Barnwell Industries, Inc. 7,500 05/2007 Cash
Common Stock 08/2007 Stock Option Exercise Barnwell Industries, Inc. 7,500 08/2007 Cash
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INSTRUCTIONS:
1. If the securities were purchased and full payment therefor was not made in
cash at the time of purchase, explain in the table or in a note thereto the
nature of the consideration given. If the consideration consisted of any note
or other obligation, or if payment was made in installments describe the
arrangement and state when the note or other obligation was discharged in
full or the last installment paid.
TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS
Furnish the following information as to all securities of the issuer sold during
the past 3 months by the person for whose account the securities are to be sold.
Amount of Gross
Name and Address of Seller Title of Securities Sold Date of Sale Securities Proceeds
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Russell Gifford Common Stock 08/30/2007 616 10,911
1100 Alakea St., Ste. 2900 08/31/2007 4,100 71,689
Honolulu, HI 96813 09/04/2007 2,100 36,626
09/05/2007 100 1,750
09/06/2007 900 15,231
09/07/2007 500 8,546
09/24/2007 14,100 210,760
09/26/2007 1,184 17,783
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REMARKS:
INSTRUCTIONS:
See the definition of "person" in paragraph (a) of Rule 144. Information is to
be given not only as to the person for whose account the securities are to be
sold but also as to all other persons included in that definition. In addition,
information shall be given as to sales by all persons whose sales are required
by paragraph (e) of Rule 144 to be aggregated with sales for the account of the
person filing this notice.
ATTENTION:
The person for whose account the securities to which this notice relates are to
be sold hereby represents by signing this notice that he does not know any
material adverse information in regard to the current and prospective operations
of the Issuer of the securities to be sold which has not been publicly
disclosed.
September 27, 2007 /s/ Russell M. Gifford
___________________________________ ________________________________________
(DATE OF NOTICE) (SIGNATURE)
The notice shall be signed by the person for whose account the securities are to
be sold. At least one copy of the notice shall be manually signed.
Any copies not manually signed shall bear typed or printed signatures.
ATTENTION: Intentional misstatements or omission of facts constitute Federal
Criminal Violations (See 18 U.S.C. 1001).