Pyramid Oil chairman sells more shares of company's stock, reports 45.4% interest

By Lisa Kerner

Charlotte, N.C., July 31 - Shareholder Michael D. Herman reduced his ownership interest in Pyramid Oil Co. to 45.4%, from 46.6% on July 23, with the sale of 57,409 shares of the company's stock.

He sold the shares on July 29 at prices ranging from $11.00 to $11.72, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

Herman, the chairman of the company's board, reported beneficial ownership of 2,123,399 shares of the Bakersfield, Calif.-based developer and producer of crude oil and natural gas.

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