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Pyramid Oil Company (PDO)

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Last Post: 4/13/2017 10:18:45 AM - Followers: 11 - Board type: Free - Posts Today: 0

About Pyramid Oil Company (PDO:AMEX)

 

Pyramid owns and operates 27 oil and gas leases located within Kern and Santa Barbara Counties in the State of California.   All of Pyramid's oil production is classified as primary recovery production; although certain properties may be conducive to secondary recovery operations in the future, depending on the prevailing price of oil.

Crude oil and natural gas produced from Pyramid’s properties are sold to various refineries and pipeline companies.  The majority of all oil and gas properties that Pyramid owns and operates is for its own account.  Pyramid also participates in joint ventures with other companies in the development of oil and gas properties.  


The Company owns a gross 12.5% working interest (before payout) in a Texas natural gas joint venture. The initial well in the project was drilled in early 2008, and after strong natural gas shows, the operator executed a gas sales contract and completed a 3.8-mile gas sales pipeline.  The JV holds oil and gas leases on approximately 5,700 contiguous acres surrounding the initial well, and plans to commence additional drilling operations on the acreage.

 

 

 

California

  • Pyramid owns and operates 27 oil and gas leases within Kern and Santa Barbara Counties. 21 leases were operating in 2007
  • Company has potential to operate 121 wells on its California properties. 61 wells were operating in 2007
  • Most production currently classified as primary recovery, although certain wells being considered for secondary recovery efforts in light of strong crude price environment
  • Company enjoys 20+year relationships with its two largest crude customers: Conoco Phillips & Kern Oil & Refining
Texas
  • Pyramid owns 12.5% of natural gas joint venture in south-central Texas covering 5,700 contiguous acres
  • Post-frac testing of initial well indicated natural gas rates of over 4 million cubic feet/day and approximately 40 barrels/day of condensate.
  • Gas tested at over 1,200 BTU/cubic foot andbottom-hole pressures exceeded 8,000 psi
  • Gas sales expected to commence mid-2008
  • Additional drilling on acreage expected shortlyafter completion of pipeline

Board of Directors and Executive Management Profiles

JOHN H. ALEXANDER, President and Chief Executive Officer
Mr. Alexander has been an independent oil operator in Orange County, California, since 1970.  He has been President and Chief Executive Officer of Pyramid Oil Company since June 3, 2004.  From 1986 to 2004, Mr. Alexander was Vice President and a director of the Company.

MICHAEL D. HERMAN, Chairman
Mr. Herman has been Chairman of the Company since July of 2005 and the majority shareholder of the Company since June 15, 2005.  He also is the Chairman and sole shareholder of Heat Waves Hot Oil Service, LLC and Dillco.  Heat Waves and Dillco provide various energy related services such as water hauling, acidizing, frac heating and hot oil services to customers in Kansas, Oklahoma, Colorado and New Mexico. Mr. Herman was the Chairman and owner of Pasadena, California based Key Food Ingredients, Inc. from January 1,2005 until October, 2007.  Key Food Ingredients supplies dehydrated vegetables from its factory in Qngdao, China to customers worldwide.  He also was Chairman and owner of Telematrix, Inc. from October 1992 until December 1998 when the company was sold to a major hospitality company, and he repurchased a majority ownership interest in December 2004 and held that majority ownership interest until April 2006.  Telematrix Inc. designs and distributes communications products and telephones to hospitality and business customers globally.  From November 2003 until February 2005, Mr. Herman was Chairman and majority shareholder of Ft. Lauderdale based Sunair Electronics but chose not to stand for re-election as a director in February 2006.  Sunair Electronics is engaged in the design, manufacture and sale of high frequency communications equipment for long-range voice and data applications.

THOMAS W. LADD, Director
Mr. Ladd has been President and Chairman of the Board of Tetra Oil Company, which is engaged in petroleum lease acquisition, exploration and operations, since 1979.  Mr. Ladd is also an independent geologist, offering consulting services in petroleum, government compliance, environmental assessments and co-generation development.

GARY L. RONNING, Director
Mr. Ronning had been Executive Vice President, Western Region of Prime Natural Resources, LLC, since 1999.  He previously was with Ferguson Energy, an independent oil and gas exploration company, since 1967.  Mr. Ronning held several positions with Ferguson Energy.

JOHN E. TURCO
Mr. Turco has been the President and Chief Financial Officer of Corotto Company, Inc., an agricultural company growing citrus in Kern County, California, since March 1991.  Mr. Turco has been President of Turco Desert Company, Inc., an agricultural company growing dates, grapes and citrus in California's Coachella Valley, since August 1991.  Mr. Turco served as a member and chairman of the finance committee of the California Citrus Research Board from November 1992 until September 2001.  He has served as a trustee of the United Agricultural Benefit Trust, which provides medical insurance to agricultural workers, since January 2002. 

Chart and Stock Information

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of   the close of the period covered by this report.
COMMON STOCK WITHOUT PAR VALUE -- 4,677,728 

 

 


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#135   Dead board, huh? tteg420x 04/13/17 10:18:45 AM
#134   <<< $PDO Links! >>> ~ MAC's Quick DD Penny Roger$ 03/28/12 05:33:58 AM
#133   ~ Thursday! $PDO ~ Earnings posted, pending or Penny Roger$ 03/28/12 05:33:25 AM
#132   Starting to look attractively priced just under $4 OilStockReport 11/07/11 10:26:04 PM
#131   WOW!!!! rsaj 02/24/11 09:56:02 AM
#130   This stock rocks!!! What a day. rsaj 02/23/11 02:29:48 PM
#129   BAKERSFIELD, CA -- (MARKET WIRE) -- 11/15/10 -- OilStockReport 11/15/10 01:12:42 PM
#128   RESULTS OF OPERATIONS FOR THE QUARTER ENDED JUNE OilStockReport 11/15/10 05:27:42 AM
#127   Some great mid year activity in this. It OilStockReport 11/15/10 05:26:06 AM
#126   Weekly chart kiwisteve 07/01/10 09:06:03 PM
#125   Outstanding at May 14,2010 kiwisteve 07/01/10 08:50:41 PM
#124   Is the gap filled yet? probably not quite kiwisteve 07/01/10 08:39:33 PM
#123   Today was ugly... down ~10%... break away gap Pro-Life 06/18/10 07:37:45 PM
#122   Just saw that in my inbox!!! New Zealand Pro-Life 06/16/10 01:02:22 AM
#121   NIA's Favorite Oil Stock Suggestion - Wed 6/15/2010 kiwisteve 06/15/10 06:05:03 PM
#120   *** ONE STOP DD *** Soapy Bubbles 08/07/09 11:46:48 PM
#119   www.finviz.com/chart.ashx?t=PDO&ty=c&ta=1&p=d&s=l Soapy Bubbles 08/02/09 11:17:57 PM
#118   http://www.sec.gov/cgi-bin/browse-idea?action=getcompany&CIK=0000081318&owner=ex Soapy Bubbles 08/02/09 11:12:53 PM
#117   Pyramid Oil Company Soapy Bubbles 08/02/09 11:09:55 PM
#116   http://finance.yahoo.com/q/is?s=pdo Soapy Bubbles 08/02/09 11:09:34 PM
#115   Pyramid Oil Company Reports Continued Financial Growth During makesumgravy 01/04/09 03:43:06 PM
#114   14-Nov-2008 Quarterly Report makesumgravy 01/04/09 03:22:32 PM
#113   http://finance.aol.com/company/pyramid-oil-company/pdo/ase/insider-transactions makesumgravy 01/04/09 01:43:43 PM
#112   http://finance.yahoo.com/q/mh?s=PDO Major Holders Get Major Holders for: makesumgravy 12/29/08 10:09:42 AM
#111   gonna pop next week when quarterly's come out easypikens 11/07/08 03:54:30 PM
#110   http://finance.yahoo.com/q/is?s=pdo makesumgravy 10/31/08 02:27:19 PM
#109   http://people.forbes.com/profile/michael-d-herman/66363 http://investing.businessweek.com/busines makesumgravy 10/31/08 02:15:31 PM
#108   Your not an insider......Anytime an insider wants to makesumgravy 10/29/08 10:07:38 AM
#107   let me ask you a simple question- is easypikens 10/28/08 05:14:44 PM
#106   This is what the real story is all makesumgravy 10/28/08 01:40:56 PM
#105   The shares he has are already in the easypikens 10/28/08 09:08:27 AM
#104   For him, not the stockholders, and not for makesumgravy 10/27/08 05:08:46 PM
#103   he bought the company in o5 at an easypikens 10/26/08 08:00:03 AM
#102   If Michael Herman believed this why has he makesumgravy 10/25/08 09:11:12 PM
#101   cash flow from gas well hooked up in easypikens 10/25/08 02:00:36 PM
#100   10Q http://biz.yahoo.com/iw/080813/0424566.html makesumgravy 10/25/08 11:41:49 AM
#99   $12.8 million Frenchee has been extracted, and I makesumgravy 10/25/08 11:09:43 AM
#98   Me to........$15 million give or take is a makesumgravy 10/25/08 10:32:48 AM
#97   thanks for the info. frenchee 10/25/08 10:28:52 AM
#96   http://finance.yahoo.com/q/it?s=PDO Skimming over the figures Michael Herman has cropped makesumgravy 10/25/08 10:24:47 AM
#95   Insider selling has been steady. makesumgravy 10/25/08 10:16:35 AM
#94   Company Scores Remarkable Fundamental Grades - frenchee 10/24/08 10:36:22 PM
#93   Democrats to let offshore drilling ban expire logman 09/24/08 01:04:57 AM
#92   That's great news about DIG. It's my frenchee 09/18/08 07:39:49 PM
#91   yeah I like the volitility of ~PDO~...Im just ~6979~ 09/18/08 07:35:38 PM
#90   Someone been buying. Check out the positive frenchee 09/18/08 06:49:28 PM
#89   Accumulation done... frenchee 09/06/08 12:58:05 PM
#88   I picked up a couple hundred shares the logman 08/21/08 08:29:16 PM
#87   Thanks for the heads up makesumgravy... frenchee 08/17/08 09:31:46 AM
#86   Ceo sold 57409 shares at $11+ per share. makesumgravy 08/17/08 08:55:06 AM
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