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SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Sep. 30, 2015

The Company’s share-based compensation benefit and related income tax effects are as follows:



	Year ended September 30,
	2015			2014
Share-based compensation benefit	$	(140,000	)	$	(380,000	)
Income tax effect	$	—		$	—

A summary of the activity in Barnwell’s equity-classified share options from October 1, 2014 through September 30, 2015 is presented below:



Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2014	90,000		$	6.75
Granted	—
Exercised	—
Expired/Forfeited	(60,000	)	8.62
Outstanding at September 30, 2015	30,000		$	3.01	8.2	$	—
Exercisable at September 30, 2015	7,500		$	3.01	8.2	$	—

The following table summarizes the components of the total share-based compensation for liability-classified awards:



	Year ended September 30,
	2015			2014
Due to vesting	$	10,000		$	21,000
Due to remeasurement	(170,000		)	(427,000		)
Total share-based compensation benefit for liability-based awards	$	(160,000	)	$	(406,000	)

A summary of the activity in Barnwell’s liability-classified share options from October 1, 2014 through September 30, 2015 is presented below:



Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2014	747,250		$	8.15
Granted	—
Exercised	—
Expired/Forfeited	(156,000	)	8.80
Outstanding at September 30, 2015	591,250		$	7.98	3.6	$	—
Exercisable at September 30, 2015	568,750		$	8.18	3.4	$	—

The following assumptions were used in estimating fair value for all liability-classified share options outstanding:



	Year ended September 30,
	2015	2014
Expected volatility range	51.5% to 61.6%	29.0% to 57.2%
Weighted-average volatility	52.4%	45.4%
Expected dividends	None	None
Expected term (in years)	2.2 to 8.2	0.2 to 9.2
Risk-free interest rate	0.6% to 1.9%	0.1% to 2.5%
Expected forfeitures	None	None