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): January 30, 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 January 30, 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.
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Exhibit Index
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Exhibit
Number Description
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99.1 Press release dated January 30, 1998.
SIGNATURE
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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: February 2, 1998 PYR ENERGY CORPORATION
By: /s/Andrew P. Calerich
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Andrew P. Calerich
Chief Financial Officer
EXHIBIT 99.1
On January 30, 1998, the Registrant issued the following press release:
"PYR ENERGY REPORTS STATUS OF PRIVATE PLACEMENT
DENVER -- PYR Energy Corporation (OTC EBB: PYRX) today announced that the
previously reported letter of intent concerning a private placement to issue up
to 2,100,000 shares of its common stock at $1.25 per share has been indefinitely
suspended. The proposed investors have informed the Company that due exclusively
to generally negative market conditions in the oil and gas industry and the
performance of a previous investment in another company, they will be unable to
complete the private placement at this time.
D. Scott Singdahlsen, PYR Energy President said, "As a development stage
company, we are constantly seeking sources for capital. However, we are
confident that even in the absence of outside equity investment, we will be able
to fund our short-term exploration efforts through a combination of existing
internal funds and industry joint ventures. PYR remains on schedule with its
ongoing exploration program in the San Joaquin Basin of California where we
expect to drill our first exploratory test well in the second quarter of
calendar 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
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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."
