PYRAMID OIL CO
			Symbol			PDO

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Pyramid Oil Company Reports Third Quarter Financial Results

2009-11-16 09:00 ET - News Release

Also News Release (U-NYSE)

BAKERSFIELD, CA -- (MARKET WIRE) -- 11/16/09

Pyramid Oil Company (NYSE Amex: PDO)

Selected Highlights:

--  Third quarter diluted EPS reported at $0.05
--  Cash and short-term investments increase to $4.6 million; current
    ratio at 12.9:1
--  Texas JV begins testing Pan Am #1 gas well; plans farmout agreement
--  Company targeting new oil well in California's Carneros Creek Field
    

Pyramid Oil Company today announced financial results for its third fiscal quarter ended September 30, 2009.

Pyramid reported net income of $221,000, or $0.05 per diluted share, on revenue of $945,000, representing a sequential improvement from a second quarter net loss of $39,000, or $0.01 per diluted share, on revenue of $802,000. Net income in the comparable third quarter last year was $704,000, or $0.15 per diluted share, on revenue of $2,000,000.

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