LOSS PER COMMON SHARE

3 Months Ended

Dec. 31, 2012

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE

2. LOSS PER COMMON SHARE

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

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

	Three months ended December 31, 2012
	Net Loss				Shares		Per-Share
	(Numerator)				(Denominator)		Amount
Basic net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)
Effect of dilutive securities -
common stock options		-				-
Diluted net loss per share		$	(2,746,000	)		8,277,160		$	(0.33	)
	Three months ended December 31, 2011
	Net Loss				Shares		Per-Share
	(Numerator)				(Denominator)		Amount
Basic net loss per share		$	(282,000	)		8,277,160		$	(0.03	)
Effect of dilutive securities -
common stock options		-				-
Diluted net loss per share		$	(282,000	)		8,277,160		$	(0.03	)

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 per share if their effect is antidilutive.  Options to purchase 807,250 and 815,375 shares of common stock were excluded from the computation of diluted shares for the three months ended December 31, 2012 and 2011, respectively, as their inclusion would have been antidilutive.