SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 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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Item 5. Other Events.
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Press Release. The press release of the Registrant dated September 18,
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 September 18, 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: September 22, 1998 PYR ENERGY CORPORATION
By: /s/ Andrew P. Calerich
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Andrew P. Calerich
Chief Financial Officer
EXHIBIT 99.1
On September 18, 1998, the Registrant issued the following press release:
"PYR ENERGY REPORTS PLUGGING OF SCHOOL ROAD EXPLORATION WELL
DENVER - PYR Energy Corporation (EBB-PYRX) today announced that the School
Road #67X-30 exploration well (Sec 30, T32S, R25E) has been plugged and
abandoned after drilling to a total depth of 12,509 feet. In spite of
significant and encouraging hydrocarbon shows during drilling, detailed log
analysis of the well indicated that the lower 'Stevens' reservoir interval was
tight and incapable of sustaining commercial production. PYR was carried for its
interest in the drilling of the #67X-30 well.
Scott Singdahlsen, president of PYR Energy, stated "While we are
disappointed with the ultimate result of the well, we are encouraged that the 3D
seismic exploration model proved to be accurate and useful. We plan to integrate
the new well data into the 3D seismic data to fully evaluate additional
exploration potential on PYR acreage at School Road. The #67X-30 well was the
first in a series of 'Stevens' exploration tests that we plan to drill in the
southern San Joaquin basin. Due to differences in reservoir quality and
geological setting, we believe that the results of our School Road well are not
indicative of the ultimate potential of our exploration activities at SE
Maricopa. We recently completed acquisition of 52 square miles of proprietary 3D
seismic data at SE Maricopa, and expect to receive the final processed data
volume in the very near future. We remain very optimistic concerning the reserve
potential in our SE Maricopa acreage."
At East Lost Hills, the Company's Mastiff prospect well continues to drill
ahead toward an anticipated total depth of approximately 19,000 feet. The well
was side-tracked in an attempt to gain better structural position and delineate
potential uphole pay. The well is expected to reach total depth in the next 30
to 45 days.
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."
