PYR Pyr Energy Corp

Tortuga Grande Well Completion Underway DENVER, Sept. 22 /PRNewswire-FirstCall/ -- PYR Energy Corporation (AMEX:PYR) today reported an update on recent and near future Company operations. The Chism #1 well (Tortuga Grande Prospect) has reached total drilling depth of approximately 15,850 feet, and is currently setting casing in preparation for completion. Log and core analysis of the Cotton Valley section revealed abundant sand thickness in the expanded 'turtle' section, but did not indicate commercial reservoir properties. As a result, the operator recommended abandonment of the Cotton Valley section and completion of multiple horizons in the Travis Peak and Rodessa formations. The Company is participating in the completion of the Travis Peak and Rodessa with its 28.57% working interest. PYR and its partners control approximately 9,800 acres of leasehold in the project. Pending favorable results from the Chism #1 completion, the Company anticipates drilling additional wells to fully exploit the Travis Peak and Rodessa potential in the project area. At the Madison Project, in the northern Constitution Field of Jefferson County, Texas, the operator has completed construction of the drilling location for the Wall #1 well. The Company previously elected to participate for its 12.5% working interest in the drilling of the Wall #1 well, offsetting the Maness Gas Unit #1 well, which has produced in excess of 1.8 Bcfe since inception and continues to produce approximately 5 MMcfe per day. The Wall #1 well will be drilled as soon as a rig becomes available, expected to be sometime in the fall of 2005. The Company believes that several additional PUD locations are available to fully exploit the project area. At the Hansford Project in the Texas Panhandle, the operator has proposed drilling a PUD location within the Lackey Gas Unit. The Company has elected to participate in the drilling of this well with its approximately 43% working interest. It is anticipated that the well will begin drilling within the next three to four weeks. The Company believes that numerous additional PUD locations are present within the project area and anticipates drilling several wells within the next year. At the Wilbarton Field in Oklahoma, the Scharff #5-1 well should begin drilling in the next couple of weeks. The Company is participating in the drilling of the well with a 2.42% working interest. The Scharff #5-1 offsets the Scharff #4-1, which was recently completed, and is currently producing in excess of 25 MMcfe per day. At the Mallard prospect, in Uinta County, Wyoming, drilling operations continue on the #1-30 Duck Federal well. PYR is participating in the re-entry and drilling with a 28.75% working interest. It is anticipated that the well will test the southern extension of the existing Whitney Canyon field, which produces predominantly from the Mission Canyon Formation. The Whitney Canyon - Carter Creek complex has produced in excess of 2.1 Tcfe cumulative production to date. On August 1, 2005, the Company filed suit in the United States District Court for the Eastern District of Texas in Beaumont against Samson Resources Company and its subsidiary Samson Lone Star Limited Partnership to resolve its dispute with the defendant over pooling and working interest issues related to the Sun Fee #1-ST well in the Nome Field, Jefferson County, Texas. On August 25, 2005, Samson Resources notified the Company that it has stopped all royalty and other payments on production from the Sun Fee #1-ST well, and would discontinue further payments until the lawsuit was resolved. Subsequently, the Company notified Samson of its exercise, under Texas law, to take-in-kind its undisputed share of production from the Sun Fee #1-ST well. Based on Samson's rejection of this demand, the Company filed a motion seeking a temporary restraining order against Samson in the United States District Court for the Eastern District of Texas in Beaumont. On September 21, 2005, the Court issued an order reinstating all payments attributed to the Company's undisputed share of production from the Sun Fee #1-ST. Commenting on the Tortuga Grande project, Scott Singdahlsen, President of the Company, stated "While we are disappointed in the results from the Cotton Valley, we are very optimistic about the potential of the Travis Peak and Rodessa. Both formations have a long production history in East Texas, and the Rodessa, in particular, has been a significant producer in the vicinity of our Tortuga Grande acreage." Also commenting on the recent legal activity, Singdahlsen stated, "The Court order reinstating our revenue stream from the Sun Fee well continues the Company's positive cash flow. Our focus continues to be on resolving our dispute with Samson, either through legal or other means, and moving forward with drilling additional exploitation wells at Nome." Currently, PYR Energy is producing over 3 MMcfe per day and is 100% unhedged. Scott Singdahlsen, President & CEO will host a breakfast table at the Independent Petroleum Association of America's (IPAA) 3rd Annual Oil & gas Investment Symposium West (OGIS West) being held October 5-7, 2005, at The Palace Hotel in San Francisco. 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, 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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