UNITED STATES
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 13, 2005
PYR Energy Corporation
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(Exact name of registrant as specified in its charter)
Maryland 001-15511 95-4580642
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1675 Broadway, Suite 2450, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 825-3748
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
To the extent applicable, the contents of Item 2.06 below are incorporated into
this Item 2.02 by reference.
Item 2.06 Material Impairments
As part of its ongoing business strategy, PYR Energy Corporation (the "Company")
has been attempting to consolidate and increase its working interest
participation in core projects. As a result of these efforts, as of June 10,
2005, the Company has decided to limit capital expenditures on certain early
stage projects, such as our two joint ventures in southern Alberta, Canada.
These joint ventures were intended to employ certain production equipment to
limit water production and increase shallow gas production rates. At this point,
management has decided to limit future expenditures in Canada and apply the
capital to our core projects in the Gulf Coast, East Texas, and the Rocky
Mountains. In accordance with US GAAP, the Company will write down its initial
investments in Canada as a non-cash charge to earnings of approximately $560,000
during its 3rd quarter, ended May 31, 2005.
Item 7.01. Regulation FD Disclosure
On June 13, 2005, the Company issued a press release that includes an operations
update and that discusses, among other things, the information described in Item
2.06 above. A copy of the Company's press release is attached hereto as Exhibit
99.1.
Item 9.01. Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release issued June 13, 2005.
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The information in Section 7.01 of this Current Report on Form 8-K shall not be
deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that Section. The
information in Section 7.01 of this Current Report shall not be incorporated by
reference into any filing of the Company, regardless of any general
incorporation language in such filing, unless expressly incorporated by specific
reference in such filing.
SIGNATURES
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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 thereunto duly authorized.
Date: June 13, 2005 PYR ENERGY CORPORATION
By: D. Scott Singdalsen
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D. Scott Singdahlsen
Chief Executive Officer and President