DENVER, Oct. 3 /PRNewswire-FirstCall/ -- PYR Energy Corporation (AMEX: PYR) today announces an update on recent Company operations. At the Nome Field, in Jefferson County, Texas, the Nome-Long #1 well has reached total depth of 15,800 feet. Based on log analysis, the Company believes that the well has found significant pay in the upper Yegua (EY-3) sandstone at a measured depth of 14, 200 feet. Multiple wireline tests indicate formation pressure averaging approximately 12,700 psi in this zone. Additional pay was logged in shallower Yegua zones. PYR expects the operator to commence completion operations and subsequent testing of the indicated pay zone within the next few weeks. PYR is participating with an 8.33% working interest. This well is subject to the previously disclosed net profits interest owned by the Venus Exploration Trust. In Jefferson County, Texas, the Wall #1 well, a proved undeveloped (PUD) location offsetting the Maness GU#1 well, has reached total depth and completion operations are in progress. Based on log analysis, this well found approximately 20 feet of net pay in the middle Yegua zone Doyle sandstone at a depth of 14,050 feet. Wireline tests indicate gas production and formation pressure averaging approximately 11,645 psi. An additional 10 feet of net pay were logged and tested in shallower zones. The Company anticipates that additional PUD locations should be drilled after the first of the year. PYR is participating for 17.5% working interest in this development well. This well is subject to the previously disclosed net profits interest owned by the Venus Exploration Trust. At the Madison project in Jefferson County, Texas, the Maness Gas Unit #1 well, which had recently undergone an extensive and complicated workover during the summer to replace production tubing damaged by corrosion and scaling, is flowing at 475 thousand cubic feet of gas and 200 barrels of oil per day to sales at this time. The well continues to build pressure and volume, and we expect the well to continue to improve. The Company is participating with 12.5% working interest. This well is subject to the previously disclosed net profits interest owned by the Venus Exploration Trust. In the Wilburton Field in Latimer County, Oklahoma, the Scharff #7-1 was recently completed and is producing approximately 16 million cubic feet of gas per day from a total of 181 net feet of commingled pay in the Cecil, Shay, and Wister B sandstone at measured depths ranging from 11,830 to 14,222 feet Four shallower zones behind pipe contain a total of approximately 48 net feet of pay, based on log analysis. Completion has commenced on the Scharff #8-1. This well has found approximately 112 net feet of pay in the Cecil sandstone at a measured depth of 11,300 feet, based on log analysis. Additionally, an approximate 44 net feet of pay was logged in shallower zones. The Scharff #6- 1 and #5-1 continue to produce at 6 million and 25 million feet of gas per day respectively. PYR owns a 2.42% working interests in each of the Scharff # 5- 1, 6-1, 7-1, and 8-1 wells. At the Mallard project in Uinta County, Wyoming, three and one-half inch tubing has been successfully installed inside of the seven inch casing of the well-bore for the # 1-30 Duck Federal well. Currently the operator has encountered difficulties in removing a retrievable mechanical plug in the tubing. This plug was installed for safety reasons. The well is currently shut-in pending the arrival on location of the proper equipment for complete removal of this plug. The Company expects the retrieval operation to occur within the next few weeks. As a result of this difficulty, along with the shut-down for the actual tubing operation, the well has been on and off-line during the last two months. The 3D seismic the Company is participating in to define future drilling locations in this area should be completed by the end of this month. The Company is participating with 28.75% working interest in the #1-30 Duck Federal well and 3-D seismic. At the Bayou Duralde Prospect in Evangeline Parish, Louisiana, the Company has participated in the completion of the Fontenot #1 well. The well has been drilled and cased to a total depth of 10,650' to evaluate the Cockfield and Frio formations. The operator has constructed surface facilities and is currently building connections to sales lines in anticipation of extended testing of the well to determine its commerciality. The Company has participated with a 15% working interest in this well. This well is subject to the net profits interest owned by the Venus Exploration Trust. Commenting on the operational results, Mr. Ken Berry, PYR's CEO, stated, "We are very encouraged by our continued successful drilling results in Jefferson County, Texas and expect the Nome-Long and Wall wells to be significant producers to our portfolio. We look forward to the day when we are able to announce a stabilized flow rate from the #1-30 Duck well located in Uinta County, Wyoming. The downtime on the Maness well in Jefferson County, Texas, combined with the fluctuating production from the #1-30 Duck Federal well, will cause PYR's production for the fourth quarter to be less than the previous quarter. Overall, we are very pleased with the outcome of our recently drilled wells, as the Company continues to establish new reserves and increase the value for the shareholders in spite of the current decline in natural gas prices." PYR Energy will host a breakfast table at the IPAA OGIS West Annual Oil & Gas Conference to be held October 4-5, 2006 at 7:00 a.m. PDT at the Palace Hotel in San Francisco. Denver based PYR Energy is an independent oil and gas company primarily engaged in the exploration, 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, Texas and Oklahoma Panhandle, 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: Kenneth R. Berry Jr, CEO, or Tucker Franciscus, VP, both of PYR Energy Corporation, +1-303-825-3748 Web site: http://www.pyrenergy.com/

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