BAKERSFIELD, CA--(Marketwire - April 28, 2010) - Pyramid Oil Company (
John Alexander, president and CEO, said, "While the results of this well were disappointing, they do not diminish our confidence in the productive value of our Mountain View properties, where we already operate more than two dozen producing wells. This latest well has given us solid geologic data regarding this particular location and horizon, and this information will prove valuable as we plan for future drilling prospects in the surrounding area."
Mr. Alexander said the well was one on a roster of several near-term drilling prospects located throughout Pyramid's California leases. "We are working to select our next target well and hope to commence drilling operations in the coming quarter."
About Pyramid Oil Company
Pyramid Oil Company has been in the oil and gas business continuously since incorporating in 1909. Pyramid acquires interests in land and producing properties through acquisition and lease, and then drills and/or operates crude or natural gas wells in an effort to discover or produce oil and/or natural gas. More information about the Company can be found at: http://www.pyramidoil.com.
Safe Harbor Statement
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995, including statements regarding the completion and testing of wells. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Factors that could cause or contribute to such differences include, but are not limited to the value of crude oil or the performance of wells.
Contact Information:
CONTACTS:
John H. Alexander
President and CEO
Pyramid Oil Company
661-325-1000
Geoff High
Principal
Pfeiffer High Investor Relations, Inc.
303-393-7044