Upgraded by Credit Suisse from Underperform to Neutral

7.5, 11.81%

From Barron's 4/30/07

1Q production volumes disappoint: Clean 1Q EPS of 27 cents was below our 47-cent estimate -- but above consensus of 20 cents. 1Q volumes fell 5% y-o-y...and were 8% below our estimate. Moderate progress on pursuit of strategic alternatives [for this Houston-based oil- and gas-producer]. Target reduced to 51 from 54.

Third point

Upgraded by Deutsche Securities from Sell to Hold

Downgraded by Matrix Research from Strong Buy to Sell

2-23-2007
In an amended 13D filing on Pogo Producing Company (NYSE: PPP), 7.9% holder Dan Loeb's Third Point LLC proposed six nominees for election to the company's board of directors.

Pogo Producing (PPP)
Third Point plans to nominate six directors to PPP's board at the 2007 annual meeting, scheduled for May 15. Third Point has 4.62 million shares (7.9%).

Pogo Producing (PPP)
Third Point filed a regulatory notice confirming its intent to conduct a proxy contest at the annual meeting. Third Point, which owns 4.62 million Pogo shares (7.9%), wants to elect new directors who will constitute a majority of the board of the oil and gas explorer and producer.

Downgraded by Bear Stearns from Outperform to Peer Perform