Posted at 1:08 p.m., Tuesday, October 2, 2007
Barnwell reports payment, inclusion in stock index
Advertiser Staff
A land development partnership that's majority owned by Honolulu-based Barnwell Industries Inc. received a $1.93 million option payment relating to development rights within the Hualalai Resort, the company reported.Barnwell said another $729,000 is still owed under the annual option payment, which constitutes is the seventh of 10 remittances due under the development rights agreement.
The balance is due by the by the end of the year. The company said remaining development right options will expire if the payment is not received.
Barnwell also announced it was recently selected to join the Russell Microcap Index and believes the inclusion is generating interest in the company by institutional investors.
