8-K

                       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): March 2, 1998
                                                           -------------



                             PYR Energy Corporation
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)



            Delaware                  0-20879                 95-4580642
   ---------------------------     ---------------        ------------------
  (State or other jurisdiction    (Commission File           (IRS Employer
      of incorporation)                Number)            Identification No.)



                1675 Broadway, Suite 1150, Denver, Colorado 80202
                -------------------------------------------------
              (Address of principal executive offices) (Zip Code)



        Registrant's telephone number, including area code (303) 825-3748
                                                            -------------






Item 5. Other Events.

     Press  Release.  The press release of the  Registrant  dated March 2, 1998,
which is filed as an exhibit hereto, is incorporated herein by reference.

Item 7.  Financial Statements And Exhibits.

     (c) Exhibits.


                                  Exhibit Index
                                  -------------

Exhibit
Number            Description

99.1              Press release dated March 2, 1998.



                                    SIGNATURE

     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 hereunto duly authorized.


Date:  March 4, 1998                      PYR ENERGY CORPORATION



                                          By:  /s/ Andrew P. Calerich
                                               ---------------------------------
                                                   Andrew P. Calerich
                                                   Chief Financial Officer

EX-99.1

                                  EXHIBIT 99.1


On March 2, 1998, the Registrant issued the following press release:


         "PYR Energy Reports Signing Of Drilling Partners In California

     DENVER:  PYR Energy Corporation (OTC EBB: PYRX) today announced that it has
completed the signing of a Joint Operating  Agreement with seven  established US
and Canadian oil and gas exploration companies to participate in the drilling of
a deep  wildcat  well to  evaluate  PYR's  Mastiff  prospect  in the western San
Joaquin Basin foldbelt of California.

     As part of the  agreement,  the seven  companies  will  provide  PYR a cash
consideration   for  acreage  and  a  7.03%  carried  working  interest  through
completion  in an initial well.  In addition to the carried  interest,  PYR also
retains a 1.875% working interest in the drilling of this test well. One-half of
the cash  consideration  has been received and the final one-half is due 2 weeks
prior to spud of the well.  Drilling and  completion  expenditures  net to PYR's
1.875% working interest are estimated to be approximately $75,000.

     The Mastiff  exploration well should be spud early in the second quarter of
1998.  This initial test well is to be drilled to  approximately  18,500 feet to
test Miocene sands in a large seismically  defined  structure.  PYR's management
believes  that  if  successful,  the  prospect  has  the  potential  to  contain
recoverable  reserves  in the  hundreds  of millions of barrels of light oil and
associated  natural gas. Upon drilling,  this well should be the deepest onshore
California wildcat in the last decade. Anticipated drilling time for the well is
from 100 to 120 days.

PYR  Energy   Corporation   applies  advanced  3-D  seismic  and  computer-aided
exploration  technologies to systematically  explore for and exploit onshore oil
and natural gas accumulations in the western United States.

                                      # # #

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."