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Slide #68. Pyramid Oil Company — Yuma Energy, Inc.
Pyramid Oil Company (PDO)
Yuma Energy, Inc.
Pyramid Oil Company (NYSE MKT: PDO) and privately held Yuma Energy, Inc. jointly announced today that they have entered into a definitive merger agreement for an all-stock transaction. Upon completion of the transaction, which is subject to the approval of stockholders of both companies, Pyramid will change its name to "Yuma Energy, Inc.," and relocate its headquarters to Houston, Texas, while maintaining offices in Bakersfield to oversee its California operations.
Pyramid Oil is engaged in the business of exploration, development and production of crude oil and natural gas. Co. acquires interests in land and producing properties through acquisition and lease on which it drills and/or operates crude oil or natural gas wells in efforts to discover and/or to produce oil and gas. Co. also participates in specific joint ventures with other companies in the development of oil and gas properties. Co.'s main properties are in California. Co. also owns some oil and gas interests in New York, Texas and Wyoming. As of Dec 31 2012, Co. had proved developed reserves of 482,000 barrels of oil.
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