PYR Pyr Energy Corp

PYR Energy Announces Commencement of Drilling Activities at Rogers Pass Project, Montana Foothills DENVER, March 14 /PRNewswire-FirstCall/ -- PYR Energy Corporation (AMEX:PYR) today reported that drilling activities have begun at the Company's Rogers Pass Project in the Montana Foothills. The Suncor Energy Natural Gas America, Inc #14063-12 Fleisher Pass well, located approximately twenty-five miles northwest of Helena, Montana, will test a potential structural closure within the Montana Foothills trend. Anticipated target depth for the prospect is estimated to be approximately 14,500 feet. In March 2004, PYR Energy signed an Exploration Option Agreement with a subsidiary of Suncor Energy, Incorporated, covering the Rogers Pass exploration project. PYR currently controls approximately 241,800 gross and 226,300 net leasehold acres in the Rogers Pass project. Pursuant to the agreement, SENGAI will bear 100% of the costs of the well, to a depth sufficient to evaluate the Mississippian, to earn a 100% working interest in 100,000 acres of the project area. SENGAI will have the option to pay a second prospect fee and drill a second test well, to be spud by December 31, 2005. By paying this second prospect fee and bearing 100% of the costs of the second well, SENGAI will earn a 100% working interest in the remaining acreage within the project area. PYR will retain a 12.5% overriding royalty interest, subject to amortized recovery of gas plant and certain transportation costs, covering all earned acreage within the Rogers Pass project area. Denver based PYR Energy is an independent oil and gas company primarily engaged in the exploration for and the development and production of natural gas and crude oil. At the current time, PYR's activities are focused in select areas of the Rocky Mountain region, the San Joaquin Basin of California, East Texas, and the Gulf Coast. Additional information about PYR Energy Corporation can be accessed via the Company's web site at http://www.pyrenergy.com/, including pictures of the drilling rig. 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. This press release includes the opinions of PYR Energy and does not necessarily include the views of any other person or entity. This release may not have been reviewed or approved by the operator and/or participants in any of the projects discussed. DATASOURCE: PYR Energy Corporation CONTACT: Scott Singdahlsen, President, or Tucker Franciscus, VP, both of PYR Energy Corporation, +1-303-825-3748, fax, +1-303-825-3768 Web site: http://www.pyrenergy.com/

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