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Pyramid Oil wraps up drilling on new Central Valley well
BAKERSFIELD February 2, 2010 5:25am 
• Finds oil and gas zones in 3,351 shaft • ‘This is the first of up to five wells we anticipate drilling’ Pyramid Oil Company (NYSE Amex: PDO) of Bakersfield says it discovered two dominant oil and gas zones in drilling its Anderson #10 development well located in the company's Carneros Creek field in Kern County.
The well was drilled to a total depth of 3,351 feet, the company says.
Now come the usual completion activities, which will include logging, perforating and hydraulic fracturing one of the oil and gas zones using a combination of oil and sand.
Production results will be announced following completion and testing activities, which are expected to take 30 to 45 days, Pyramid says.
"This is the first of up to five wells we anticipate drilling on our California properties during 2010. We intend to capitalize on the strength of our balance sheet and will internally fund this ramp up in drilling activity,” says John Alexander, president and CEO.
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