Contact Information: CONTACTS: John H. Alexander President and CEO Pyramid Oil Company 661-325-1000 Geoff High Principal Pfeiffer High Investor Relations, Inc. 303-393-7044
Pyramid Oil Company Files Shelf Registration Statement
| Source: Pyramid Oil Company
BAKERSFIELD, CA--(Marketwire - December 22, 2009) - Pyramid Oil Company (NYSE Amex : PDO ) today
announced it has filed a shelf registration statement on Form S-3 with the
Securities and Exchange Commission (SEC). Pyramid does not have immediate
plans to sell securities under the shelf registration statement. However,
when declared effective by the SEC, the registration statement is designed
to provide Pyramid with the flexibility to offer and sell from time to
time, up to $20 million of the Company's common stock.
After the shelf registration becomes effective, the Company may offer and
sell such securities through one or more methods of distribution, subject
to market conditions and Pyramid's capital needs. The terms of any offering
under the shelf registration statement will be established at the time of
such offering and will be described in a prospectus supplement filed with
the SEC prior to completion of the offering.
John Alexander, president and CEO, said, "We continue to maintain a very
healthy balance sheet and do not currently have immediate plans to raise
capital through an offering of additional securities. We have previously
indicated that we will take an opportunistic approach to future asset
investments, and this shelf registration statement gives us the flexibility
to raise additional funding, should compelling opportunities arise in the
future."
The shelf registration statement has been filed with the SEC, but has not
yet become effective. These securities may not be sold nor may offers to
buy these securities be accepted prior to the time the registration
statement becomes effective. This press release shall not constitute a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities law of any such jurisdiction. Any offer of these securities will
be made solely by means of the prospectus included in the registration
statement and any prospectus supplement that may be issued with respect to
such offering.
About Pyramid Oil Company
Pyramid Oil Company has been in the oil and gas business continuously since
incorporating in 1909. Pyramid acquires interests in land and producing
properties through acquisition and lease, and then drills and/or operates
crude or natural gas wells in an effort to discover or produce oil and/or
natural gas. More information about the Company can be found at:
http://www.pyramidoil.com.
Safe Harbor Statement
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 wells.