MHA Petroleum Consultants
4700 Stockdale Highway, Suite 110
Bakersfield, CA 93309
PYRAMID OIL COMPANY
THIRD PARTY REPORT ON RESERVES
MHA PETROLEUM CONSULTANTS
This report is provided to satisfy the requirements contained in Item 1202(a)(8) of the United States Securities
and Exchange Commission Regulation S-K.
The numbering of the items below corresponds to the requirements set out in Item 1202(a)(8) of Regulation S-K.
The terms defined in Regulation S-K and Regulation S-X have the same meaning in this report.
i. We prepared an independent evaluation of the proved oil and gas reserves of Pyramid Oil Company (Pyramid)
for the management of Pyramid. The primary purpose of our evaluation report was to provide estimates of
reserves information in support of Pyramid's year-end reserves reporting requirements under U.S. Securities
Regulation S-K and for other internal business and financial needs of Pyramid.
ii. We evaluated and reviewed the reserves of Pyramid as of December 31, 2009. The completion (transmittal) of
our report was February 23, 2010.
iii. The following table presents the proved reserves, net after royalty, that we estimated using constant prices and
costs, by geographic area. Our report covers 100 percent of the total net proved oil and natural gas reserves of
(1) Oil Equivalence Factors: Crude oil 1 bbl/bbl, Natural Gas 6Mcf/bbl
Pyramid Net Proved Reserves
Crude Natural Oil
Oil Gas Equivalent(1)
Mbbl MMcf Mbbl
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LOCATION OF RESERVES
State of California, USA 506.3 0.0 506.3
Portion of Total Covered 100% 0% 98%
State of New York, USA 0.0 42.6 7.1