EXHIBIT 99.1


On December 15, 2003, the Registrant issued the following press release:

          "PYR ENERGY REPORTS FISCAL AUGUST 31, 2003 FINANCIAL RESULTS

     DENVER - PYR Energy Corporation (AMEX:PYR) today announced audited
financial results for its fiscal year ended August 31, 2003 ("2003").

     For fiscal 2003, the Company recorded an impairment to its capitalized oil
and gas properties of $3,234,039. This non-cash accounting charge significantly
contributed to the net loss from operations of $5,237,613, or 22 cents ($0.22)
per common share, compared with a net loss of $13,129,828, or 55 cents ($0.55)
per common share, for the Company's fiscal year ended August 31, 2002. The
Company recorded an impairment expense of $11,722,830 against its oil and gas
properties during fiscal 2002.

     During the fiscal year ended August 31, 2003, the Company recorded $195,167
in revenues from the sale of oil and natural gas production. Net of lease
operating expenses and taxes of $95,334, the Company reflected $99,833 in net
revenues from oil and gas operations. During the fiscal year ended August 31,
2002, the Company recorded $132,569 in revenues from the sale of oil and natural
gas production. Net of lease operating expenses and taxes of $91,384, the
Company reflected $41,185 in net revenues from oil and gas operations. All
Company oil and gas revenues were a result of production from the East Lost
Hills #1 well in the San Joaquin Basin of California, which commenced its first
production on February 6, 2001.

     Interest income was $53,520 and $145,645 for 2003 and 2002, respectively.
The Company incurred $310,457 in interest expense in 2003 associated with the
convertible notes dated May 24, 2002. General and administrative expenses
associated primarily with the Company's efforts to pursue its exploration
projects totaled $1,265,912 for 2003 and $1,496,329 for 2002.

     At August 31, 2003, the Company had cash of $3,657,938, total assets of
$9,089,904, current liabilities of $1,037,027, and stockholders' equity of
$1,630,040. There were 23,701,357 common shares outstanding at August 31, 2003.

     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. PYR's activities are focused in select areas of the Rocky
Mountain region as well as the San Joaquin Basin of California. Additional
information about PYR Energy Corporation can be accessed via the Company's web
site at www.pyrenergy.com.

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     This release and the Company's website contain 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 and
the Company's website include the opinions of PYR Energy and does not
necessarily include the views of any other person or entity."