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 21, 1999
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 June 21, 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 June 21, 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: June 29, 1999 PYR ENERGY CORPORATION
By: /s/ Andrew P. Calerich
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Chief Financial Officer
EXHIBIT 99.1
On June 21, 1999, the Registrant issued the following press release:
"PYR UPDATES ADDITIONAL CALIFORNIA DEEP EXPLORATION ACTIVITY
DENVER -- PYR Energy Corporation (EBB: PYRX) today announced that the
Berkley Cal Canal #1 exploration well in the San Joaquin Basin of California,
commenced drilling on June 15, 1999. The well will target the Temblor formation
in a seismically defined feature to a total depth of approximately 18,500 feet.
Berkley Petroleum Inc., a U.S. subsidiary of Berkley Petroleum Corp. (TSE:BKP)
of Calgary, is operator.
Located ten miles southeast and separate from the Company's East Lost Hills
prospect, the Cal Canal deep well targets the same formation where significant
volumes of natural gas and condensate were encountered in the Bellevue #1-East
Lost Hills blowout. PYR owns a 3.75% working interest in the prospect and is
"carried through the tanks" for its interest in this initial well.
The Cal Canal well is the first of three exploration wells set to be
drilled as part of a three prospect exploration program to be operated by
Berkley. PYR owns a "carried through the tanks" working interest in the initial
test well in each of these prospects of between 3.00% and 3.75%. The additional
wells are scheduled to be drilled in sequence after conclusion of drilling the
exploration well at Cal Canal.
At East Lost Hills, the previously reported relief well has been
sidetracked as a replacement well and is now drilling toward the target depth of
approximately 19,000 feet in the Temblor formation. PYR owns a 10.575% working
interest in approximately 30,000 gross acres at East Lost Hills. PYR and its
industry partners plan to spud a 19,000 foot step-out well at East Lost Hills
later this summer.
PYR owns approximately 93,500 gross and 42,500 net acres encompassing nine
separate exploration projects in the San Joaquin Basin of California.
Denver based PYR Energy is a natural gas and oil exploration company with
activities focused in the San Joaquin Basin of California and in select areas of
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."
