Tulsa-based Samson Investment Co. extends Pyr Energy offer

Journal Record, The (Oklahoma City), Jun 6, 2007

Samson Investment Co. has extended its Pyr Energy Corp. tender offer to 4 p.m. Tuesday. By its original expiration Monday, Samson had received 27.48 million shares from Pyr shareholders at $1.30 a share, representing 82 percent of the outstanding stock. The extension allows Tulsa-based Samson to gather more shares, easing the takeover process.

Samson entered its takeover deal with Pyr on April 23. When complete, Pyr will merge into Samson Acquisition Corp., and all Pyr shares not tendered will be converted into rights to receive $1.30 a share.

Privately held Samson Investment is engaged in oil and gas exploration, acquisition and production operations in 18 states in the United States, Canada, and the North Sea.