PRESS RELEASES PYRAMID OIL COMPANY BEGINS DRILLING OPERATIONS BAKERSFIELD, California, September 25, 2007, PYRAMID OIL COMPANY, AMEX symbol PDO, announces that it has begun drilling operations on a new well in its Carneros Creek Field, Kern County California. The well is scheduled to be drilled to a depth of approximately 3,300 feet. Results of the well will be announced after completion and testing operations. 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. PYRAMID OIL COMPANY ANNOUNCES RESULTS FROM NEW WELL BAKERSFIELD, California, March 21, 2007, PYRAMID OIL COMPANY, AMEX symbol PDO, announces the production results of its new well in the Carneros Creek field, Kern County California. The Company’s Anderson #8 well was bottomed and completed at 3,390 feet after penetrating four oil bearing formations. A sixty foot section of the Point of Rocks formation was stimulated with a 28,000 pound sand-oil fracturing process and after the recovery of all stimulating fluids; production has been 37 barrels per day of clean 31 gravity oil. The well has three additional oil zones “behind pipe”. 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. PYRAMID OIL COMPANY BEGINS DRILLING OPERATIONS BAKERSFIELD, CALIFORNIA. January 22, 2007, PR Newswire, PYRAMID OIL COMPANY, symbol PDO, announces that it began drilling operations on Friday January 19, 2007 on a new well in its Carneros Creek Field, Kern County California. The well is scheduled to be drilled to a depth of approximately 3,300 feet. Results of the well will be announced after completion and testing operations. Information Regarding Forward Looking Statements 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 oil/gas wells. PYRAMID OIL COMPANY ANNOUNCES ITS MOVE TO THE AMERICAN STOCK EXCHANGE (AMEX) AND SECOND QUARTER RESULTS Bakersfield, California, August 15, 2006 John H. Alexander, President and CEO of Pyramid Oil Company (OTC Bulletin Board: PYOL) announced today that its common stock has been approved for listing on the American Stock Exchange (AMEX). Pyramid Oil Company’s common stock is scheduled to begin trading on the AMEX under the ticker symbol PDO, on Monday August 21, 2006. The approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange and may be rescinded if the Company is not in compliance with such standards. Pyramid Oil Company’s net income for the second quarter of 2006 was $371,229 or $ .10 per (diluted) share, up 39% over second quarter 2005 net income of $ 266,819. Net income for the first six months of 2006 was $649,832 or $ .17 per (diluted) share, up 35% over the first six months of 2005. PYRAMID OIL COMPANY ANNOUNCES SUBSTANCIAL RESULTS FROM NEW WELLS BAKERSFIELD, Calif., May 4, 2006 PYRAMID OIL COMPANY (OTC Bulletin Board: PYOL) Announces production results from new wells. John H. Alexander, President and CEO of Pyramid Oil Company announced today production results from two wells recently completed in the Company’s Carneros Creek field, in Kern County, California. Production rates from the Company’s Santa Fe #18 well is 20 barrels a day of 31 gravity oil. This well was completed in the Point of Rocks formation and was hydraulically fractured with oil and sand. The second and most impressive results are from the Company’s Anderson #6 well recently completed in a three foot section of the Phacoides formation at a depth of 3,000 feet. The well has been flowing in excess of 100 barrels a day of 32 gravity oil with an estimated 200 to 225 Mcf per day of natural gas. Production is through a 23/64 choke, with 250 psi of surface pressure. The Anderson #6 well was completed using a different perforating technique than any of the other wells in this field and immediately hydraulically fractured. All stimulation fluids injected into this well were recovered in less than three days. Several six hour production tests yielded flow rates exceeding 600 barrels per day. Mr. Alexander stated “The production results from the Company’s Anderson #6 well are by far the best results of any Phacoides formation wells in the Carneros Creek field and will increase the Company’s daily oil and gas production and reserves.” The Company has a number of existing wells in the Carneros Creek field with the Phacoides formation present and behind pipe. Management is developing re-completion programs to begin utilizing this different completion method in several of the existing wells both in the Phacoides formation and other formations present in the field. This new completion procedure will be utilized on the Company’s Santa Fe #17 well in the near future. About Pyramid Oil Company Founded in 1909, Pyramid Oil Company explores for, develops, and sells crude oil and natural gas. Its current operations are primarily in the Bakersfield, California area. Information Regarding Forward Looking Statements 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 these wells. PYRAMID OIL COMPANY ANNOUNCES STOCK SPLIT BAKERSFIELD, Calif., April 3, 2006 PYRAMID OIL COMPANY (OTC Bulletin Board: PYOL) Announces Stock Split. Pyramid Oil Company announced today that the Company’s Board of Directors has declared a 3 for 2 stock split payable on May 1, 2006 to shareholders of record as of April 17, 2006. Shares of Pyramid Oil Company common stock are listed on the OTC Bulletin Board under the ticker symbol of PYOL. For more information, please visit our website at www.pyramidoil.com. About Pyramid Oil Company Founded in 1909, Pyramid Oil Company explores for, develops, and sells crude oil and natural gas. Its current operations are primarily in the Bakersfield, California area. Information Regarding Forward Looking Statements 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 these wells PYRAMID OIL COMPANY ANNOUNCES RECORD PROFITS BAKERSFIELD, Calif., March 28, 2006 PYRAMID OIL COMPANY (OTC Bulletin Board: PYOL) Announces Profits for 2005. Pyramid Oil Company is pleased to announce that the Company’s net income for 2005 was $1,088,596 or 44 cents per share, on revenues of $3,477,572. Net income for 2005 is the best one year result for the Company in the past twenty four years. In 2004, the Company had net income of $611,902 or 25 cents per share on revenues of $2,674,902. For further details regarding the 2005 results, please see the Company’s 10KSB. About Pyramid Oil Company Founded in 1909, Pyramid Oil Company explores for, develops, and sells crude oil and natural gas. Its current operations are primarily in the Bakersfield, California area. Information Regarding Forward Looking Statements 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 these wells. February 28, 2006 Pyramid Oil Company is pleased to announce that the Company’s Santa Fe 32-1 exploration well with joint venture partner E&B Natural Resources Management Corporation was drilled to a depth of 3,702 feet and encountered 32 feet of oil sand in the Point of Rocks formation. Production casing was run based upon the positive mud log and electric log results. Completion and testing activities will commence in the near future. The Santa Fe 32-1 well is located approximately one mile south from Pyramid’s existing wells in the Carneros Creek field. Pyramid owns 52% of the prospect and E & B Natural Resources owns 48% and is the joint venture operator. About Pyramid Oil Company Founded in 1909, Pyramid Oil Company explores for, develops, and sells crude oil and natural gas. Its current operations are primarily in the Bakersfield, California area. Information Regarding Forward Looking Statements 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 these wells. February 21, 2006 Pyramid Oil Company Announces It Has Completed Drilling Operations at Its Carneros Creek Field PYRAMID OIL COMPANY, Bakersfield, California, symbol PYOL, announces that it has completed drilling operations on three infield wells at its Carneros Creek field, in Kern county California. The Company drilled three wells to depths of 2,600 feet, 3,000 feet and 3,200 feet. Production casing has been run on all three wells. The 2,600 foot well was drilled for testing and development of shallower zones in the field. The wells drilled to 3,000 feet and 3,200 feet will be the first wells scheduled for completion activities. The drilling rig has been moved and began drilling operation on an exploratory well at a new location approximately one mile south of the main Carneros Creek producing area. This fourth well is a Joint Venture between Pyramid Oil Company and E & B Natural Resources Management Corp. of Bakersfield, CA. E & B Natural Resources Corp. will be the joint venture operator for Pyramid Oil. Information Regarding Forward Looking Statements 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 these wells. January 16, 2006 PYRAMID OIL COMPANY, Bakersfield, California, symbol PYOL, announced that it began drilling operations on Saturday, January 14, 2006, on the first development well of a three well infield drilling program in Kern County, California. All three of these wells are located within Pyramid Oil Company's Carneros Creek field. Results of the wells will be announced after completion and testing operations. Information Regarding Forward Looking Statements 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 these wells. June 16, 2005 Pyramid Oil Company Announces Sale Of Control Position PYRAMID OIL COMPANY, Bakersfield, California (PYOL). Pyramid Oil Company announced today that it has been notified that J. Ben Hathaway, Jean Hathaway, Henry Hathaway and John Hathaway have completed their sale of 1,388,485 shares of Pyramid common stock (representing approximately 56% of the Company’s outstanding common stock) to Michael D. Herman as disclosed in a Schedule 13D filed on June 9, 2005. Mr. J. Ben Hathaway has resigned from Pyramid’s Board of Directors and the Board intends to meet in the near future to elect Mr. Herman to fill the vacancy created by Mr. Hathaway’s resignation. Mr. Herman has considerable experience in the telecom equipment, import and energy industries. Information Regarding Forward Looking Statements 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 change in management of Pyramid. 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 decision by Mr. Herman to change management or otherwise make changes at Pyramid. March 30, 2005 Pyramid Oil Company, a publicly traded company (symbol PYOL), announces that it has signed a Letter of Intent with E & B Natural Resources Management Corporation for the formation of a Joint Venture to drill an exploratory oil and gas prospect in Kern County. Both companies are headquartered in Bakersfield, CA and have existing oil and gas operations within Kern County.