Pyramid and Capco Part Ways on Aquisition Plan

Pyramid Petroleum, Inc. and Capco Energy, Inc. have terminated a plan for Pyramid to acquire a subsidiary of Capco. Capco is controlled by Ilyas Chaudhary, the CEO and major shareholder of Pyramid. The original plan was for Pyramid to enter into a business combination with Capco, but was later changed to the plan of acquisition. The completion deadline of Dec. 31, 2007, will not be extended due to a mutual decision by both parties.

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