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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: February 20, 2008
Date of earliest event reported: February 25, 2008
Commission File Number 0-5525
PYRAMID OIL COMPANY
(Exact name of registrant as specified in its charter)
CALIFORNIA 94-0787340
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
2008 - 21ST. STREET
BAKERSFIELD, CALIFORNIA 93301
(Address of principal executive offices) (Zip Code)
(661) 325-1000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.14e-4(c))
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Section 8 - Other Events
Item 8.01 Other Events
PYRAMID OIL COMPANY ANNOUNCES RESULTS FROM A NEW WELL
BAKERSFIELD, California, February 20, 2008, PYRAMID OIL COMPANY, AMEX
symbol PDO, announces results from its joint venture operations in Texas. In
December 2007, the Company participated with a joint venture group in the
drilling of a directional 1,100 foot lateral hole that encountered excellent
gas shows in sections of a fractured carbonate zone, at a depth below 12,000
feet. In mid-January, the well was hydraulically fractured with the injection
of 9,700 barrels of gelled fluid carrying 500,000 pounds of proppant. Post
frac testing indicated natural gas rates of over 4,000,000 cubic feet a day
and approximately 40 barrels a day of condensate. The gas tested at over
1,200 Btu per cubic foot and the bottom hole pressures observed were in excess
of 8,000 psi during testing. Currently, the well is shut-in waiting for the
installation of a 3.8 mile gas sales pipeline. Participants in the joint
venture expect gas sales to begin sometime in mid-2008. The joint venture
group currently holds oil and gas leases on approximately 5,700 contiguous
acres surrounding this well. The Company expects additional joint venture
drilling operations on this acreage to begin shortly after completion of the
gas sales pipeline. Pyramid Oil Company owns a gross 12.5% working interest
(before payout) in this joint venture prospect.
Information Regarding Forward Looking Statements
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.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PYRAMID OIL COMPANY
(Registrant)
Dated: February 25, 2008
JOHN H. ALEXANDER
By: -------------------
John H. Alexander
President