Benzinga's Microcap Movers for Tuesday February 21, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

Shares of Pyramid Oil

, the Bakersfield, CA oil and gas company, rose 29% Tuesday on 9 times the average daily volume. Pyramid Oil announced Tuesday it has commenced drilling operations on the Santa Fe #20, a development well within Pyramid's Carneros Creek field in Kern County, California. The well will target the Point of Rocks formation at a depth of approximately 3,400 feet. Drilling is expected to take approximately 10 days and will be followed by perforating and stimulation operations. Pyramid has roughly three-dozen wells producing in the Carneros Creek field, where the Company has operated for more than 25 years. Pyramid Oil closed at $6.15 on Tuesday.

Shares of SearchMedia Holdings

, the China-based advertising company, rose 33% Tuesday on twice the average daily volume. SearchMedia Holdings announced Tuesday that it has appointed Peter W.H. Tan, a current member of the Company's Board of Directors, as its Chief Executive Officer. Additionally, the Company announced that it has entered into an agreement for a new $3,000,000 Convertible Note with Frost Gamma Investments Trust, an entity affiliated with Dr. Phillip Frost, our largest shareholder and several other investors, including TGC Financial Partners Limited, and entity affiliated with Mr. Tan, and CS Capital USA, LLC, an entity affiliated with Chien Lee, an advisor to the Company. Paul Conway, the Company's former Chief Executive Officer, will be appointed to the Company's Board of Directors in the near future and will serve as a consultant to the Company. SearchMedia Holdings closed at $1.45 on Tuesday.

Shares of US China Mining Group (

), the developer of coal properties in the People's Republic of China, rose 746% Tuesday on just 16,300 shares. US China Mining Group provided an update Tuesday on its operations in China and status of its potential acquisition in Guizhou Province, China. The Company also announced that it has taken a series of steps with the provincial government to become a consolidator of coal mines in Guizhou. US China Mining Group closed at $1.10 on Tuesday.