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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 4, 2006
(Date of Report - date of earliest event reported)
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 SUBSTANTIAL RESULTS FORM NEW WELLS
John H. Alexander, President and CEO of Pyramid Oil Company announced
today production results from two wells recently completed in the Company's
Carneros Creek field, in Kern County, California.
Production rates from the Company's Santa Fe #18 well is 20 barrels a day
of 31 gravity oil. This well was completed in the Point of Rocks formation
and was hydraulically fractured with oil and sand.
The second and most impressive results are from the Company's Anderson #6
well recently completed in a three foot section of the Phacoides formation at
a depth of 3,000 feet. The well has been flowing in excess of 100 barrels a
day of 32 gravity oil with an estimated 200 to 225 Mcf per day of natural
gas. Production is through a 23/64 choke, with 250 psi of surface pressure.
The Anderson #6 well was completed using a different perforating
technique than any of the other wells in this field and immediately
hydraulically fractured. All stimulation fluids injected into this well were
recovered in less than three days. Several six hour production tests yielded
flow rates exceeding 600 barrels per day.
Mr. Alexander stated that the production results from the Company's
Anderson #6 well are by far the best results of any Phacoides formation wells
in the Carneros Creek field and will increase the Company's daily oil and gas
production and reserves.
The Company has a number of existing wells in the Carneros Creek field
with the Phacoides formation present and behind pipe. Management is developing
re-completion programs to begin utilizing this different completion method in
several of the existing wells both in the Phacoides formation and other
formations present in the field. This new completion procedure will be
utilized on the Company's Santa Fe #17 well in the near future.
ABOUT PYRAMID OIL COMPANY
Founded in 1909, Pyramid Oil Company explores for, develops, and sells
crude oil and natural gas. Its current operations are primarily in the
Bakersfield, California area.
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
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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 these wells.
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: May 4, 2006
JOHN H. ALEXANDER
By: -------------------
John H. Alexander
President