UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1)1/
BARNWELL INDUSTRIES, INC.
(Name of Issuer)
Common Stock, par value $0.50 per share
(Title or Class of Securities)
| 068221100 (CUSIP Number) |
February 14, 2005
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
| 1/ | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 068221100 | 13G | Page 2 of 8 |
| 1 | NAMES OF REPORTING PERSONS
Mercury Real Estate Advisors LLC
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨ (b) ¨ |
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| 3 | SEC USE ONLY
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| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 SOLE VOTING POWER
0 6 SHARED VOTING POWER
304,800 7 SOLE DISPOSITIVE POWER
0 8 SHARED DISPOSITIVE POWER
304,800 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,800 |
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| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
N/A |
¨
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| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.2%* |
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| 12 | TYPE OF REPORTING PERSON (See Instructions)
OO — Limited Liability Company |
| * | All percentage ownerships reported in this Schedule 13G are based on 2,723,020 shares of Common Stock issued and outstanding as of February 11, 2005, as reported by the Issuer (as defined below) in its Quarterly Report on Form 10-QSB for the quarterly period ended December 31, 2004 filed with the Securities and Exchange Commission on February 14, 2005. |
| CUSIP No. 068221100 | 13G | Page 3 of 8 |
| 1 | NAMES OF REPORTING PERSONS
Mercury Special Situations Fund LP
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨ (b) ¨ |
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| 3 | SEC USE ONLY
|
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| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 SOLE VOTING POWER
0 6 SHARED VOTING POWER
137,030 7 SOLE DISPOSITIVE POWER
0 8 SHARED DISPOSITIVE POWER
137,030 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
137,030 |
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| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
N/A |
¨
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| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0% |
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| 12 | TYPE OF REPORTING PERSON (See Instructions)
PN |
| CUSIP No. 068221100 | 13G | Page 4 of 8 |
| 1 | NAMES OF REPORTING PERSONS
David R. Jarvis
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
|
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| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨ (b) ¨ |
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| 3 | SEC USE ONLY
|
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| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 SOLE VOTING POWER
0 6 SHARED VOTING POWER
304,800 7 SOLE DISPOSITIVE POWER
0 8 SHARED DISPOSITIVE POWER
304,800 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,800 |
|||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
N/A |
¨
| ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.2% |
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| 12 | TYPE OF REPORTING PERSON (See Instructions)
IN |
| CUSIP No. 068221100 | 13G | Page 5 of 8 |
| 1 | NAMES OF REPORTING PERSONS
Malcolm F. MacLean IV
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
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| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨ (b) ¨ |
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| 3 | SEC USE ONLY
|
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| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5 SOLE VOTING POWER
0 6 SHARED VOTING POWER
304,800 7 SOLE DISPOSITIVE POWER
0 8 SHARED DISPOSITIVE POWER
304,800 |
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,800 |
|||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
N/A |
¨
| ||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.2% |
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| 12 | TYPE OF REPORTING PERSON (See Instructions)
IN |
| CUSIP No. 068221100 |
13G | Page 6 of 8 |
| ITEM 1 |
(a). |
NAME OF ISSUER:
The name of the issuer is Barnwell Industries, Inc. (the “Issuer”). |
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| ITEM 1 |
(b). |
ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
The Issuer’s principal executive office is located at 1100 Alakea Street, Suite 2900, Honolulu, HI 96813-2833. |
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| ITEM 2 |
(a). |
NAME OF PERSON FILING: | ||||||||||
| ITEM 2 |
(b). |
ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: | ||||||||||
| ITEM 2 |
(c). |
CITIZENSHIP:
Mercury Real Estate Advisors LLC 100 Field Point Road Greenwich, CT 06830 (Delaware limited liability company)
Mercury Special Situations Fund LP 100 Field Point Road Greenwich, CT 06830 (Delaware limited partnership)
David R. Jarvis c/o Mercury Real Estate Advisors LLC 100 Field Point Road Greenwich, CT 06830 (United States citizen)
Malcolm F. MacLean IV c/o Mercury Real Estate Advisors LLC 100 Field Point Road Greenwich, CT 06830 (United States citizen) |
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| ITEM 2 |
(d). |
TITLE OF CLASS OF SECURITIES:
Common Stock, par value $0.50 per share |
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| ITEM 2 |
(e). |
CUSIP NUMBER:
068221100 |
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| ITEM 3. |
IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: | |||||||||||
| (a) | ¨ | Broker or dealer registered under Section 15 of the Exchange Act. | ||||||||||
| (b) | ¨ | Bank as defined in Section 3(a)(6) of the Exchange Act. | ||||||||||
| (c) | ¨ | Insurance company as defined in Section 3(a)(19) of the Exchange Act. | ||||||||||
| (d) | ¨ | Investment company registered under Section 8 of the Investment Company Act. | ||||||||||
| (e) | x | Investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).* | ||||||||||
| (f) | ¨ | Employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). | ||||||||||
| (g) | ¨ | Parent holding company or control person, in accordance with Rule 13d-1(b) (1)(ii)(G). | ||||||||||
| (h) | ¨ | Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. | ||||||||||
| (i) | ¨ | Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act. | ||||||||||
| (j) | ¨ | Group, in accordance with Rule 13d-1(b)(1)(ii)(J). | ||||||||||
| * | Mercury Real Estate Advisors LLC is an investment advisor. |
| CUSIP No. 068221100 |
13G | Page 7 of 8 |
| ITEM 4. |
OWNERSHIP:
MERCURY REAL ESTATE ADVISORS LLC DAVID R. JARVIS MALCOLM F. MACLEAN IV (1) |
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| (a) | Amount beneficially owned: 304,800 | |||||||||
| (b) | Percent of class: 11.2% | |||||||||
| (c) | Number of shares as to which such person has: | |||||||||
| (i) | Sole power to vote or direct the vote: 0 | |||||||||
| (ii) | Shared power to vote or direct the vote: 304,800 | |||||||||
| (iii) | Sole power to dispose or to direct the disposition of: 0 | |||||||||
| (iv) | Shared power to dispose or to direct the disposition of: 304,800 | |||||||||
| MERCURY SPECIAL SITUATIONS FUND LP | ||||||||||
| (a) | Amount beneficially owned: 137,030 | |||||||||
| (b) | Percent of class: 5.0% | |||||||||
| (c) | Number of shares as to which such person has: | |||||||||
| (i) | Sole power to vote or direct the vote: 0 | |||||||||
| (ii) | Shared power to vote or direct the vote: 137,030 | |||||||||
| (iii) | Sole power to dispose or to direct the disposition of: 0 | |||||||||
| (iv) | Shared power to dispose or to direct the disposition of: 137,030 | |||||||||
| (1) Shares reported herein as beneficially owned by Mercury Real Estate Advisors and David R. Jarvis and Malcolm F. MacLean IV represent shares held by Mercury Special Situations Fund LP and certain other entities of which Mercury Real Estate Advisors LLC is the investment adviser. Messrs. Jarvis and MacLean are the managing members of Mercury Real Estate Advisors LLC. | ||||||||||
| ITEM 5. |
OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨. |
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| ITEM 6. |
OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
N/A |
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| ITEM 7. |
IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
N/A | |||||||||
| ITEM 8. |
IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
N/A |
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| ITEM 9. |
NOTICE OF DISSOLUTION OF GROUP:
N/A |
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| ITEM 10. |
CERTIFICATION:
By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |
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| CUSIP No. 068221100 |
13G | Page 8 of 8 |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 17, 2005
| MERCURY REAL ESTATE ADVISORS LLC | ||||
| /s/ Malcolm F. MacLean IV | ||||
| Malcolm F. MacLean IV, Managing Member | ||||
| MERCURY SPECIAL SITUATIONS FUND LP | ||||
| By: Mercury Securities II LLC, its General Partner | ||||
| By: |
/s/ Malcolm F. MacLean IV | |||
| Malcolm F. MacLean IV, Managing Member | ||||
| DAVID R. JARVIS | ||||
| /s/ David R. Jarvis | ||||
| David R. Jarvis, individually | ||||
| MALCOLM F. MACLEAN IV | ||||
| /s/ Malcolm F. MacLean IV | ||||
| Malcolm F. MacLean IV, individually | ||||
Exhibit 1
AMENDED AND RESTATED JOINT FILING AGREEMENT
This Amended and Restated Joint Filing Agreement, dated as of February 17, 2005, is by and among Mercury Real Estate Advisors LLC, a Delaware limited liability company, Mercury Special Situations Fund LP, a Delaware limited partnership, and David R. Jarvis and Malcolm F. MacLean IV, each an individual (all of the foregoing are collectively referred to herein as the “Mercury Entities”).
Each of the Mercury Entities may be required to file with the United States Securities and Exchange Commission a statement on Schedule 13G with respect to shares of Common Stock, par value $0.50 per share, of Barnwell Industries, Inc. beneficially owned by them from time to time.
Pursuant to and in accordance with Rule 13(d)(1)(k) promulgated under the Securities Exchange Act of 1934, as amended, the parties hereby agree to file a single statement on Schedule 13G (and any amendments thereto) on behalf of each of the parties, and hereby further agree to file this Amended and Restated Joint Filing Agreement as an exhibit to such statement, as required by such rule.
This Amended and Restated Joint Filing Agreement may be terminated by any of the Mercury Entities upon one week’s prior written notice or such lesser period of notice as the Mercury Entities may mutually agree.
Executed and delivered as of the date first above written.
| MERCURY REAL ESTATE ADVISORS LLC | ||||
| /s/ Malcolm F. MacLean IV | ||||
| Malcolm F. MacLean IV, Managing Member | ||||
| MERCURY SPECIAL SITUATIONS FUND LP | ||||
| By: Mercury Securities II LLC, its General Partner | ||||
| By: |
/s/ Malcolm F. MacLean IV | |||
| Malcolm F. MacLean IV, Managing Member | ||||
| DAVID R. JARVIS | ||||
| /s/ David R. Jarvis | ||||
| David R. Jarvis, individually | ||||
| MALCOLM F. MACLEAN IV | ||||
| /s/ Malcolm F. MacLean IV | ||||
| Malcolm F. MacLean IV, individually | ||||