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): April 5, 1999
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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 April 5, 1999,
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 April 5, 1999.
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: April 7, 1999 PYR ENERGY CORPORATION
By: /s/ Andrew P. Calerich
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Andrew P. Calerich
Chief Financial Officer
EXHIBIT 99.1
On April 5, 1999, the Registrant issued the following press release:
"PYR ENERGY EXPANDS CALIFORNIA EXPLORATION PROGRAM
DENVER - PYR Energy Corporation (EBB: PYRX) today announced that it has
signed an agreement with Armstrong Resources, LLC to participate in three
additional deep exploration projects in the San Joaquin basin of California.
These three projects are an expansion to the deep Temblor exploration program
initiated by the recent drilling at East Lost Hills, and all lay outside the
East Lost Hills joint venture area. The agreement calls for PYR to pay Armstrong
a combination of cash and common stock in exchange for a working interest,
ranging from 3.00% to 3.75%, in each of the three exploration prospect areas.
PYR?s interest will be carried in the initial test well in each of the three
separate exploration prospects. It is expected that the agreement will close on
or before May 1, 1999.
The first exploration well in the program is expected to spud in May and
will be operated by Berkley Petroleum Corporation (TSE: BKP). The three
exploration prospects, targeting the Temblor Formation at depths ranging from
15,000 to 18,000 feet, are expected to be drilled in sequence with the same rig.
Berkley will operate the other exploration projects in the Armstrong program as
well as assume operations at East Lost Hills, effective July 1, 1999.
At East Lost Hills, well control operations related to the blowout continue
as all liquid and gas production from the well are contained and are being
transported to processing and disposal facilities. The Bellevue #1R-17 relief
well continues to drill ahead toward an anticipated intersection with the
blowout wellbore at a depth of approximately 16,500 to 17,000 feet. Upon
intersection, the relief well is intended to effect a bottom hole kill of the
blowout. PYR Energy owns a 10.575% working interest in the East Lost Hills
prospect.
Denver based PYR Energy is an oil and natural gas exploration focused
company with activities in the San Joaquin basin of California and the Rocky
Mountain region.
# # #
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."
