Barnwell Industries Reiterates Willingness to Amicably Resolve Proxy Contest with Ned Sherwood

Core Viewpoint - Barnwell Industries, Inc. is focused on moving forward without distractions to drive value for all shareholders amidst a proxy contest initiated by Ned Sherwood and his affiliated entities [1]. Group 1: Proxy Contest Developments - Glass Lewis & Co., a leading independent proxy advisory firm, has deemed the removal of Barnwell's incumbent director nominees as unwarranted, supporting the current Board's track record and strategic direction [2]. - The Board emphasizes its commitment to avoiding prolonged conflict and unnecessary costs, expressing openness to constructive discussions with Mr. Sherwood to seek an amicable resolution [3]. Group 2: Company Strategy and Performance - Barnwell is executing a clear strategy aimed at driving value, improving performance, and maintaining the trust of long-term stockholders [4]. - The company remains committed to responsible stewardship and aims to avoid wasteful disputes while seeking productive resolutions [3]. Group 3: Company Overview - Barnwell Industries, Inc. and its subsidiaries are primarily engaged in oil and natural gas exploration and development [5].