SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 19, 1998
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PYR Energy Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-20879 95-4580642
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
1675 Broadway, Suite 1150, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 825-3748
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<PAGE>
Item 5. Other Events.
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Press Release. The press release of the Registrant dated March 19, 1998,
which is filed as an exhibit hereto, is incorporated herein by reference.
Item 7. Financial Statements And Exhibits.
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(c) Exhibits.
Exhibit Index
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Exhibit
Number Description
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99.1 Press release dated March 19, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 25, 1998 PYR ENERGY CORPORATION
By: /s/ Andrew P. Calerich
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Andrew P. Calerich
Chief Financial Officer
EXHIBIT 99.1
On March 19, 1998, the Registrant issued the following press release:
"PYR ENERGY SUCCESSFULLY ADDS TO CALIFORNIA ACREAGE,
COMMENCES 3-D SEISMIC ACQUISITION IN CALIFORNIA
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DENVER - PYR Energy Corporation (OTC EBB: PYRX) announced today it was the
high bidder on four parcels covering 3,529 acres in the southern San Joaquin
Basin at the recent Bureau of Land Management (BLM) lease sale in Bakersfield,
Calif. Acreage controlled by PYR through lease or option in California now
totals approximately 65,000 gross acres.
The Company also has started acquisition of 50 square miles of 3-D seismic
data over its Southeast Maricopa exploration project in Kern County, Calif.
Western Geophysical is acting as seismic contractor for the data acquisition.
The Company expects the 3-D seismic data acquisition will take from 45 to 60
days to complete.
Scott Singdahlsen, president of PYR Energy Corporation said, "We continue
to progress with our exploration efforts at School Road and Southeast Maricopa.
The successful leasing of the BLM acreage and commencement of the 3-D seismic
acquisition are critical components in the evaluation of our 'light oil'
prospects in the southern San Joaquin Basin. Contrary to the better known
heavy-oil projects synonymous to this part of California, we are purposely
exploring for oil that is in the 28 to 42 degree API gravity range."
PYR previously announced the signing of a joint venture agreement with
industry partners to drill its Mastiff prospect, an 18,500-foot wildcat test at
East Lost Hills. This well is expected to spud early in the second-quarter of
1998.
PYR Energy Corporation applies advanced 3-D seismic and computer-aided
exploration technologies to systematically explore for and exploit onshore oil
and natural gas accumulations in the western United States.
# # #
This release contains forward-looking statements regarding PYR Energy
Corporation's future plans and expected performance based on assumptions the
Company believes to be reasonable. A number of risks and uncertainties could
cause actual results to differ materially from these statements, including,
without limitation, the success rate of exploration efforts and the timeliness
of development activities, fluctuations in oil and gas prices, and other risk
factors described from time to time in the Company's reports filed with the SEC.
In addition, the Company operates in an industry sector where securities values
are highly volatile and may be influenced by economic and other factors beyond
the Company's control."
