Pyramid Oil Company (PDO)

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READ: Correction for a slight 805+ million of proven reserves 8K July 26 2008

PYRAMID OIL COMPANY CORRECTS THIRD-PARTY INFORMATION REGARDING OIL AND GAS RESERVES

BAKERSFIELD, Calif. - June 26, 2008 - Pyramid Oil Company (AMEX: PDO), today announced that as of January 1, 2008, the Company has estimated future net recoverable proved reserves (from both developed and undeveloped properties) of 806,000 barrels of crude oil, as was reported in the Company's Annual Report on Form 10-KSB with the Securities and Exchange Commission (SEC) on March 31, 2008, for the fiscal year ended December 31, 2007.

On June 25, 2008, it was brought to the Company's attention that certain websites have incorrectly reported that, as of January 1, 2008, Pyramid had proved crude oil reserves of 806 million barrels of oil. "Pyramid Oil had no involvement in the dissemination of this incorrect information and advises investors and other persons to rely only on the information that is contained in the Company's Annual Report on Form 10-KSB, and its other filings with the SEC".