Pyramid Oil Company Announces It Has Completed Drilling Operations at Its Carneros Creek Field
Posted on: Tuesday, 21 February 2006, 12:00 CST
BAKERSFIELD, Calif., Feb. 21 /PRNewswire-FirstCall/ -- PYRAMID OIL COMPANY (BULLETIN BOARD: PYOL) announces that it has completed drilling operations on three infield wells at its Carneros Creek field, in Kern county California.
The Company drilled three wells to depths of 2,600 feet, 3,000 feet and 3,200 feet. Production casing has been run on all three wells. The 2,600 foot well was drilled for testing and development of shallower zones in the field. The wells drilled to 3,000 feet and 3,200 feet will be the first wells scheduled for completion activities.
The drilling rig has been moved and began drilling operation on an exploratory well at a new location approximately one mile south of the main Carneros Creek producing area. This fourth well is a Joint Venture between Pyramid Oil Company and E & B Natural Resources Management Corp. of Bakersfield, CA. E & B Natural Resources Corp. will be the joint venture operator for Pyramid Oil.
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 these wells.
First Call Analyst: FCMN Contact: john@pyramidoil.com
Pyramid Oil Company
CONTACT: Pyramid Oil Company, +1-661-325-1000
Source: PRNewswire-FirstCall
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