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): June 9, 1998
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
<PAGE>
Item 5. Other Events.
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Press Release. The press release of the Registrant dated June 9, 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 June 1, 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: June 12, 1998 PYR ENERGY CORPORATION
By: /s/ Andrew P. Calerich
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Andrew P. Calerich
Chief Financial Officer
EXHIBIT 99.1
On June 9, 1998, the Registrant issued the following press release:
PYR ENERGY COMPLETES 3-D SEISMIC IN CALIFORNIA
DENVER - PYR Energy Corporation (OTC EBB: PYRX) announced today that it has
completed the acquisition of 52 square miles of 3-D seismic data over its
Southeast Maricopa 'Stevens' exploration project in the southern San Joaquin
Basin of California. Western Geophysical acted as seismic contractor for the
data acquisition.
Scott Singdahlsen, president of PYR Energy said, "While we experienced
considerable time delays in the seismic acquisition program due to unseasonable
El Nino weather patterns in California, we are excited to move to the next phase
of our 'Stevens' light oil exploration program at Southeast Maricopa. The 3-D
seismic data should allow us to delineate and reduce the risk on the seven
exploration leads that have been generated from subsurface and proprietary 2-D
seismic data in the project area." PYR has 100% working interest in the
Southeast Maricopa project and controls approximately 24,000 acres by lease or
option in the play. The Southeast Maricopa exploration area is adjacent to five
'Stevens' fields that have produced in excess of 300 million barrels of oil
equivalent. Analysis of 2-D seismic data suggests that the productive sand
intervals in the five fields are present within the exploration area and provide
analogs for potential traps. PYR anticipates drilling the initial test well at
Southeast Maricopa by year-end 1998.
Since commencing exploration activities in August of 1997, PYR Energy has
rapidly advanced its exploration projects in the San Joaquin basin to the
drilling stage. PYR's first exploration well at East Lost Hills (Mastiff
Prospect) is currently drilling toward an anticipated total depth of 19,000
feet. In PYR's second exploration project at School Road, PYR and its partner
have applied for a drilling permit to test the Rainbow Prospect. Commencement of
drilling is anticipated to occur within 60 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.
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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.
