Pyramid Oil Company Initiates Drilling of Santa Fe #20 Development Well in Carneros Creek Field

Pyramid Oil Company PDO, today announced it has commenced drilling operations on the Santa Fe #20, a development well within Pyramid's Carneros Creek field in Kern County, California. The well will target the Point of Rocks formation at a depth of approximately 3,400 feet. Drilling is expected to take approximately 10 days and will be followed by perforating and stimulation operations. Pyramid has roughly three-dozen wells producing in the Carneros Creek field, where the Company has operated for more than 25 years.