For Immediate Release: Monday, November 3rd 2008
Pyramid Petroleum Inc. Announces Appointment of New Chief Financial Officer
Houston, Texas – November 3, 2008 – Pyramid Petroleum Inc. ("Pyramid") (TSX-V: PYR) today announced that it has appointed Jim Frazier as its new Chief Financial Officer. Mr. Frazier replaces Mansoor Anjum, who has resignedasChief Financial Officer, leaving the Company to pursue other opportunities.
Mr. Frazier is a financial executive with over 20 years experience within the commercial and public sectors. Formerly, Mr. Frazier was Executive Director and Manager for Red Rock Capital, an Oklahoma based commercial lending and leasing correspondent. Mr. Frazier also served as Chief Financial Officer for a Bulletin Board NASDAQ listed international oil and gas company, from 1997 to 2002. Mr. Frazier was also a Vice President with Chase Manhattan Bank from the early 1980s to early 1990s, working primarily in securities and later commercial lending and credit services. Additionally, Mr. Frazier served on the Board of America's Challenge, a non-profit charitable organization. Mr. Frazier earned his B.A. degree in Economics and English from Fordham University in NYC.
Pyramid Petroleum CEO Ilyas Chaudhary stated, "The appointment of Mr. Jim Frazier as CFO will provide both continuity and excellent financial management experience to Pyramid’s management team as we pursue our corporate objectives."
About Pyramid Petroleum
Pyramid Petroleum Inc., with its headquarters located in Houston, Texas, is an oil and gas
exploration and production company with substantial upside through its strategically located
operations in the Gulf of Mexico. Shares of the Company are traded on the TSX Venture Exchange under the symbol “PYR.”
Disclaimers
Use of the term barrels of oil equivalent ("boe") or thousands of cubic feet of gas equivalent ("Mcfe") may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Except for statements of historical fact, all statements in this press release, without limitation, regarding new projects and future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
The TSX Venture Exchange has neither approved nor disapproved of the contents hereof.
For further information, please contact:
Laura Boyko
Pyramid Petroleum Inc.
lboyko@pyramidgom.com
281.822.0801 x 101
www.pyramidpetroleum.com