(LOSS) EARNINGS PER COMMON SHARE

9 Months Ended

Jun. 30, 2012

(LOSS) EARNINGS PER COMMON SHARE

(LOSS) EARNINGS PER COMMON SHARE

2.(LOSS) EARNINGS PER COMMON SHARE

Basic (loss) earnings per share excludes dilution and is computed by dividing net (loss) earnings attributable to Barnwell stockholders by the weighted-average number of common shares outstanding for the period.  Diluted (loss) earnings per share includes the potentially dilutive effect of outstanding common stock options.

Reconciliations between net (loss) earnings attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net (loss) earnings per share computations are detailed in the following tables:

	Three months ended June 30, 2012
	Net Loss				Shares		Per-Share
	(Numerator)				(Denominator)		Amount
Basic net loss per share		$	(1,366,000	)		8,277,160		$	(0.17	)
Effect of dilutive securities - common stock options		-				-
Diluted net loss per share		$	(1,366,000	)		8,277,160		$	(0.17	)

	Nine months ended June 30, 2012
	Net Loss				Shares		Per-Share
	(Numerator)				(Denominator)		Amount
Basic net loss per share		$	(4,629,000	)		8,277,160		$	(0.56	)
Effect of dilutive securities - common stock options		-				-
Diluted net loss per share		$	(4,629,000	)		8,277,160		$	(0.56	)

	Three months ended June 30, 2011
	Net Earnings			Shares		Per-Share
	(Numerator)			(Denominator)		Amount
Basic net earnings per share		$	802,000		8,277,160		$	0.10
Effect of dilutive securities - common stock options		-			104,602
Diluted net earnings per share		$	802,000		8,381,762		$	0.10

	Nine months ended June 30, 2011
	Net Earnings			Shares		Per-Share
	(Numerator)			(Denominator)		Amount
Basic net earnings per share		$	424,000		8,277,160		$	0.05
Effect of dilutive securities - common stock options		-			60,473
Diluted net earnings per share		$	424,000		8,337,633		$	0.05

Potentially dilutive shares consist of the common shares issuable upon the exercise of outstanding stock options (both vested and non-vested) using the treasury stock method.  Potentially dilutive shares are excluded from the computation of (loss) earnings per share if their effect is antidilutive.  Options to purchase 815,375 shares of common stock were excluded from the computation of diluted shares for the three and nine months ended June 30, 2012 and options to purchase 531,000 shares of common stock were excluded from the computation of diluted shares for the three and nine months ended June 30, 2011 as their inclusion would have been antidilutive.