Samson Acquisition Corp., a subsidiary
of privately held Samson Investment Co.,
Tulsa, Okla., has acquired approximately
92% of PYR Energy Corp., Denver,
(Amex: PYR) for $40.8 million in cash.
Samson’s offer is $1.30 per share.
Purchase of the remaining shares will
bring the total deal value to $49.4 million.
PYR has interests in 89 wells on 37,275
acres in the Rockies, Texas, Gulf Coast
regions and in Canada. As of Aug. 31,
proved reserves were 518,788 barrels of oil
and gas liquids and 2.8 million barrels
equivalent of gas.
C.K. Cooper & Co. Inc. is financial
advisor to PYR.