Pyramid Oil Company    Incorporated in 1909   Pyramid Oil    Company        Incorporated 1909
Safe Harbor StatementCertain statements and information included in this presentation constitute"forward-looking statement...
Key DataAs of 11-29-11Stock:                           AMEX: PDORecent price:                           $4.0052-week range...
Company Overview    Independent oil and gas company focused on onshore     exploration, development and production    Mo...
StrategyPyramid seeks to build value by maximizing theproduction potential of its U.S. oil and gas properties.The Company ...
Operations    Pyramid owns and operates 27 oil and gas     leases within Kern & Santa Barbara Counties.     Of these, 18 ...
Kern County’s Prolific Oil Production    Kern County accounts for     approximately 10% of overall U.S.     oil productio...
Operations                Lost                HillsCarneros Creek                                                   Edison...
Oil ReservesEstimated future net recoverable oil reserves from proved reserves, bothdeveloped and undevelopedCrude Oil (Bb...
PV-10Present value of estimated future net revenues of proved developed reserves,discounted at 10%*          $ In Millions...
Wells & Acreage   Gross and net position in wells and proved acres as of December 31, 2010                             Wel...
Oil and Gas ProductionNet oil and gas production after royalty and other working interest             2006       2007     ...
Pricing and Production CostsAverage sales prices per barrel or per MCF of crude oil and natural gas,respectively, and prod...
Revenue$ in millions
Net Income$ in millions
Statements of Operations Highlights                                                                                Nine mo...
Balance Sheet Highlights($K)                                                                              December 31,    ...
ManagementJohn H. Alexander - Director, President and Chief Executive Officer• President and CEO of Pyramid since June 200...
Investment Considerations  Substantial portfolio of new and re-entry well  targets in prolific oil producing region  Str...
Thank youPyramid Oil Company  Incorporated 1909
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Pyramid oilfeb2012presentation

  1. 1. Pyramid Oil Company Incorporated in 1909 Pyramid Oil Company Incorporated 1909
  2. 2. Safe Harbor StatementCertain statements and information included in this presentation constitute"forward-looking statements" within the meaning of the Federal PrivateSecurities Litigation Reform Act of 1995, including statements regarding thecompletion and testing of wells. Forward-looking statements involve known andunknown risks and uncertainties, which may cause the Companys actualresults in future periods to differ materially from forecasted results. Factors thatcould cause or contribute to such differences include, but are not limited to thevalue of crude oil or the performance of wells.
  3. 3. Key DataAs of 11-29-11Stock: AMEX: PDORecent price: $4.0052-week range $3.74 - $9.40Average daily share volume 21,000Approximate Market cap $18,700,000Approximate Enterprise Value $13,600,000Shares outstanding 4,678,000Approximate float 2,650,000Fiscal year end Dec. 31Cash (9-30-11) $5,500,000LT Debt (9-30-10) NilOperating cash flow (9-30-11) $1,950,000
  4. 4. Company Overview  Independent oil and gas company focused on onshore exploration, development and production  Most operations are in Kern County, California – one of nation’s leading oil producing regions  Company owns and operates much of its own equipment, including service rigs, mobile pumps, vacuum units and hot oil trucks  Strong financial position  Significant insider ownership position (~43%)  More than 100-year operating history
  5. 5. StrategyPyramid seeks to build value by maximizing theproduction potential of its U.S. oil and gas properties.The Company is working to expand its portfolio of oiland gas assets through an active drilling campaign, andalso is exploring potential partnerships with other energycompanies on new domestic, onshore prospects.
  6. 6. Operations  Pyramid owns and operates 27 oil and gas leases within Kern & Santa Barbara Counties. Of these, 18 were operating in 2010 California  Company has potential to operate 122 wells on its California properties. 54 were operating California in 2010  Most production currently classified as primary recovery, although certain wells could be considered for secondary recovery programs depending on crude price environment Kern Santa County  Most oil production is light to intermediate oil Barbara with an average API gravity of 23 County  Company enjoys 20+ year relationships with its two largest crude customers: ConocoPhillips & Kern Oil & Refining
  7. 7. Kern County’s Prolific Oil Production  Kern County accounts for approximately 10% of overall U.S. oil production  County is home to three of the five largest U.S. oil fields  At approximately 400,000 bbls/day, Kern is Californias top oil- producing county  County had 81% of the states 52,144 active oil wells in 2009
  8. 8. Operations Lost HillsCarneros Creek Edison Kern County Chico Martinez Mountain View Midway Sunset Pyramid’s Properties in Kern County, CA
  9. 9. Oil ReservesEstimated future net recoverable oil reserves from proved reserves, bothdeveloped and undevelopedCrude Oil (Bbls)
  10. 10. PV-10Present value of estimated future net revenues of proved developed reserves,discounted at 10%* $ In Millions * Based on year-end oil and gas prices and lease operating expenses
  11. 11. Wells & Acreage Gross and net position in wells and proved acres as of December 31, 2010 Wells Proved Acres Gross* Net* Gross** Net** 149 133 21,387 5,844* "Gross wells" represents the total number of wells in which the Company has a working interest."Net wells" represents the number of gross wells multiplied by the percentage of the working intereststherein held by the Company.** "Gross acreage" represents all acres in which the Company has a working interest. "Net acres"represents the aggregate of the working interests of the Company in the gross acres.!
  12. 12. Oil and Gas ProductionNet oil and gas production after royalty and other working interest 2006 2007 2008 2009 2010Crude Oil 66,000 67,000 65,000 57,000 60,000 (Bbls)Nat. Gas 7,000 5,000 5,000 5,000 9,000 (Mcf)
  13. 13. Pricing and Production CostsAverage sales prices per barrel or per MCF of crude oil and natural gas,respectively, and production costs per equivalent barrel* for the past five yearsending December 31 2006 2007 2008 2009 2010 Crude Oil $58.88 $67.83 $93.47 $57.16 $77.10 Nat. Gas $7.28 $7.16 $7.94 $4.02 $4.37 Production Costs $22.80 $24.00 $27.20 $24.20 $26.60*Gas production is converted to equivalent barrels at the rate of 6 MCF per barrel, representingthe estimated relative energy content of gas to oil
  14. 14. Revenue$ in millions
  15. 15. Net Income$ in millions
  16. 16. Statements of Operations Highlights Nine months Year ended December 31, ended Sept. 30,In thousands except per share data 2008 2009 2010 2010 2011Revenues $6,611 $3,312 $4,836 $3,330 $4,289Operating expenses $1,942 $1,412 $1,577 $1,165 $1,283General and administrative $925 $1,102 $875 $654 $666Total costs and expenses $5,517 $3,849 $4,782 $3,505 $3,563Operating income $1,094 $(537) $54 $145 $726Other income $115 $89 $29 $40 $37Income before income tax provision $1,209 $(449) $83 $185 $763Net Income $1,514 $(189) $246 $273 $751Diluted income per share $0.32 $(0.04) $0.05 $0.06 $0.16Weighted average number of common shares outstanding 4,713 4,686 4,678 4,719 4,688
  17. 17. Balance Sheet Highlights($K) December 31, September 30, 2010 2011AssetsCash and short term investments $4,594 $5,458Trade accounts receivable $508 $532Total current assets $5,665 $6,462Oil and gas properties and equipment (successful efforts method) $18,102 $19,111Other $4,585 $4,612Less: accumulated depletion, depreciation, amortization and valuation allowance ($18,688) ($19,928)Total Property and Equipment $3,999 $3,794Total Assets $10,630 $11,366LiabilitiesCurrent liabilities $626 $517Long-term debt, net of current maturities $27 $39Liability for asset retirement obligation $1,235 $1,274Stockholders’ equity $8,742 $9,537Total liabilities and stockholders equity $10,630 $11,366
  18. 18. ManagementJohn H. Alexander - Director, President and Chief Executive Officer• President and CEO of Pyramid since June 2004• Vice president and director of Pyramid from 1986 to 2004• Independent oil operator in Orange County, Calif. since 1970Michael D. Herman - Director & Chairman of the Board• Chairman of Pyramid since July 2005 and majority shareholder sinceJune 2005•  Chairman and CEO of ENSERVCO Corporation (OTCBB: ENSV)Provides water hauling, acidizing, frac heating and hot-oil services•  Past Chairman and Owner of Key Food Ingredients-  Worldwide supplier of dehydrated vegetables from factory in China-  Sold in October 2007
  19. 19. Investment Considerations  Substantial portfolio of new and re-entry well targets in prolific oil producing region  Strong, debt-free balance sheet  Lean cost structure  Seasoned management team with extensive industry expertise
  20. 20. Thank youPyramid Oil Company Incorporated 1909
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