Samson Launches Offer for Outstanding PYR Shares

Samson Investment Company on Wednesday commenced a tender offer to purchase all the outstanding shares of common stock, par value $0.001 per share, of PYR Energy Corporation at an offer price of $1.21 per share.

The offer represents a 29% premium over PYR's closing stock price on January 26, 2007, the last trading day prior to the public announcement of Samson's initial acquisition proposal, and a premium of approximately 17% over PYR's closing price on March 19, 2007, the last trading day prior to Samson's announcement of intention to commence the tender offer. The tender offer is scheduled to expire at midnight, New York City time, on Tuesday, April 24, 2007, unless the offer is extended.

Weil, Gotshal & Manges LLP and Hogan & Hartson LLP are acting as legal counsel to Samson. Innisfree M&A Incorporated is acting as information agent. Wells Fargo, N.A. is acting as depositary.

Samson Investment Company, headquartered in Tulsa, Oklahoma, is a large privately held corporation engaged in oil and gas exploration, acquisition and production operations in 18 states in the United States, Canada, and the North Sea.

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