Pyramid Oil Company (PDO)

[OilStockReport]

RESULTS OF OPERATIONS FOR THE QUARTER ENDED JUNE 30, 2010
COMPARED TO THE QUARTER ENDED JUNE 30, 2009

REVENUES

The increase in revenues of $426,490 is due to higher average prices for the second quarter of 2010 and higher crude oil production. Oil and gas revenues increased by 53% for the three months ended June 30, 2010 when compared with the same period for 2009. Oil and gas revenues increased by 39% due to higher average crude oil prices for the second quarter of 2010. The average price of the Company's oil and gas for the second quarter of 2010 increased by approximately $18.94 per equivalent barrel when compared to the same period of 2009. Revenues increased by 14% due to higher crude oil production/shipments. The Company's net revenue share of crude oil production/sales increased by approximately 2,000 barrels for the second quarter of 2010. The increase in crude oil production is due to the drilling of a new well on the Company's Anderson lease during the first quarter of 2010 and an increase in production on its Mountain View properties.