INVESTMENTS

9 Months Ended

Jun. 30, 2013

INVESTMENTS

INVESTMENTS

4. INVESTMENTS

A summary of Barnwell’s investments as of June 30, 2013 and September 30, 2012 is as follows:

Investment in two residential parcels	$	2,331,000
Investment in land interest – Lot 4C	50,000
Total investments	$	2,381,000

Investment in two residential parcels

Kaupulehu 2007 owns two residential parcels in the Lot 4A Increment I area located in the North Kona District of the island of Hawaii, north of Hualalai Resort at Historic Ka’upulehu, between the Queen Kaahumanu Highway and the Pacific Ocean.

Lot 4C

Kaupulehu Developments holds an interest in Lot 4C, an area of approximately 1,000 acres of vacant leasehold land zoned conservation located adjacent to Lot 4A.

There is no assurance that the required land use reclassification and rezoning from regulatory agencies will be obtained or that the necessary development terms and agreements will be successfully negotiated for Lot 4C.