STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Assumptions Used in Estimating Fair Value

The following assumptions were used in estimating the fair value for equity-classified stock options granted on October 27, 2025:

Number of shares	185,000
Expected volatility	62.0%
Expected dividends	None
Expected term (in years)	6.0
Risk-free interest rate	3.61%
Expected forfeitures	None
Fair value per share	$0.73

Summary of the Activity in Share Options

The following table summarizes Barnwell’s equity-classified stock options activity from October 1, 2025 through December 31, 2025:

Options	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at October 1, 2025	415,000	$	3.38
Granted	185,000	1.21
Exercised	—	—
Expired/Forfeited	—	—
Outstanding at December 31, 2025	600,000	$	2.71	6.1	$	—
Exercisable at December 31, 2025	415,000	$	3.38	4.4	$	—

Summary of the Activity in Restricted Stock Units

The following table summarizes Barnwell’s restricted stock unit activity from October 1, 2025 through December 31, 2025:

Restricted Stock Units	Shares	Weighted-Average Grant Date Fair Value
Nonvested at October 1, 2025	154,174	$	2.07
Granted	288,441	1.25
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2025	442,615	$	1.54