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): December 7, 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 December 7,1998,
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 December 7, 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:  December 7, 1998                       PYR ENERGY CORPORATION



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

EX-99.1

                                  EXHIBIT 99.1


On December 7, 1998, the Registrant issued the following press release:

     "PYR ENERGY REPORTS FISCAL AUGUST 31, 1998 FINANCIAL RESULTS

     DENVER -- PYR  Energy  Corporation  (EBB:  PYRX)  today  announced  audited
financial  results  for the fiscal  years ended  August 31,  1998 and 1997.  PYR
Energy reports that for the fiscal year ended August 31,1998,  the Company had a
net loss of ($110,807)  or ($.012) per common share  compared with a net loss of
($16,905)  or ($.009)  per common  share for the eight  month  fiscal year ended
August 31, 1997. The Company has had no revenues from the sale of oil or natural
gas production. Total revenues were $46,145 for the fiscal year ended August 31,
1998 and  $85,596  for the  fiscal  year  ended  August 31,  1997.  General  and
administrative   expenses  associated  with  the  Company's  efforts  to  pursue
primarily its California  exploration  projects totaled $675,245 for fiscal 1998
and totaled  $125,161 for fiscal 1997. In the fiscal year ended August 31, 1998,
the Company  recorded a gain from the sale of undeveloped oil and gas properties
of $556,197. At August 31, 1998, the Company had cash of $373,100,  total assets
of $2,939,602,  current  liabilities of $1,328,330 and  stockholders'  equity of
$1,608,611. There were 9,154,804 common shares outstanding at August 31, 1998.
   
     As previously announced,  subsequent to August 31, 1998, the Company issued
$2,500,000 of Convertible  Promissory Notes in a private  placement to a limited
group of investors.  These Notes are convertible into the Company's  convertible
preferred stock, which is then convertible into the Company's common stock.

CALIFORNIA OPERATIONS UPDATE
- ----------------------------

     As previously reported,  the Company's  exploration well east of Lost Hills
in California blew out and ignited on November 23, 1998. The operator,  Bellevue
Resources,  Inc., along with an expert well control team, Boots and Coots,  Inc.
from Houston,  are  continuing  efforts to extinguish the flames and control the
well.  Currently these efforts consist  primarily of clearing debris from around
the well head to evaluate  the  potential  of capping the well from the surface.
The Company owns a 10.575%  working  interest in this well and in  approximately
20,000 acres in the vicinity of this well.  The Company's  cost bearing share of
this well is 4.1% with the remaining  6.475% of the costs being carried by other
participants  through  the  tanks  or  commercial  production  facilities.   The
Company's after payout working interest in this well is 9.253%

     At Southeast Maricopa, the Company is interpreting  approximately 52 square
miles of newly acquired 3D seismic data in an effort to further define  prospect
leads  generated  with  existing 2D seismic  data.  The Company  controls a 100%
working interest in  approximately  23,000 gross acres here and expects to drill
an exploration well in the second quarter of calendar year 1999.

     The Company is also  interpreting  39 miles of 3D seismic data over its San
Emidio  acreage.  The  Company  acquired  rights to this data  along  with a 70%
working interest in oil and gas leases covering  approximately 5,400 gross acres
in November of 1998.  The Company  expects to drill an  exploration/exploitation
well here in the second quarter of calendar 1999.

     Denver based PYR Energy applies 3-D seismic and computer-aided  exploration
technologies to systematically  explore for and exploit onshore domestic 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."