Pogo Redeems all $200 Million of Its 8.25% Notes Due 2011

Pogo Producing Company (NYSE: PPP) has given notice that it will redeem all $200 million of its outstanding 8 1/4% Senior Subordinated Notes due 2011 on September 20, 2007. The indenture governing the Notes provides for their redemption at 102.75% of their face amount, plus accrued interest to September 19, 2007. The Notes may be redeemed, as set forth in the indenture, through the office of the Trustee, Wells Fargo Bank, N.A., Corporate Trust Operations, MAC N9303-121, 6th & Marquette Avenue, Minneapolis, MN 55479. Notices of redemption are being mailed to registered holders of the Notes.

Pogo Producing Company explores for, develops and produces oil and natural gas. Headquartered in Houston, Pogo owns approximately 1,900,000 gross leasehold acres in major oil and gas provinces in the United States, 6,354,000 acres in New Zealand and 1,480,000 acres in Vietnam. Pogo common stock is listed on the New York Stock Exchange under the symbol "PPP."


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