PYR Pyr Energy Corp

PYR Energy Provides Mid-Continent Operations Update DENVER, July 7 /PRNewswire-FirstCall/ -- PYR Energy Corporation (AMEX:PYR) today reported an update on results of recent drilling in the Mid-Continent region. At the Canadian River Project, located in eastern Oklahoma, the Orbison #3-11 well, operated by Questar, is currently producing to a sales line for commingled production from the Cromwell and Wapanucka zones at an initial stabilized rate of approximately 600 Mcf per day. PYR owns a 28.98% working interest in the well. At the Wilburton field in Latimer County, Oklahoma, BP America Inc., recently drilled and completed the Scharff #4-1 well. Initial completion of the lower zones in the Lower Atoka (Cecil) formation has resulted in production rates in excess of 25 MMcf per day. Additional perforation and stimulation of upper zones within the Cecil are expected in the near future which may increase the production rate substantially. PYR owns a 2.42% working interest in the Scharff #4-1 well. Completion of the two most recent wells in Oklahoma will add approximately 500 Mcf per day of net production to the Company. This additional production will increase PYR's current net production to approximately 3 MMcfe per day. On Monday August 8, 2005, PYR will hold its Annual Meeting for stockholders at 10:00 a.m. MST at Wells Fargo Bank, 1740 Broadway, Denver, Colorado. 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/. 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, or fax, +1-303-825-3768 Web site: http://www.pyrenergy.com/

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