Pogo High Bidder on 10 Gulf of Mexico Tracts

Pogo Producing Company bid on 13 tracts and was high bidder on 10 of them at the federal oil and gas lease sale held today. The sale covered areas in the central part of the outer continental shelf, offshore from the Louisiana coastline.

BLOCK POGO'S % TOTAL BID
Ewing Bank 830 100% $557,000
Main Pass 128 100% $447,000
Eugene Island 130 100% $427,000
Main Pass 60 100% $397,000
Eugene Island 131 100% $357,000
Main Pass 146 100% $247,000
Main Pass 147 100% $247,000
Main Pass 39 100% $247,000
Main Pass 126 100% $2277,000
Eugene Island 275 100% $137,000

Pogo's Chairman, Paul G. Van Wagenen, said, "We are extremely pleased with this lease sale. All of these outer continental shelf lease blocks are located in our core areas of interest. We have identified some exciting exploration prospects and we look forward to an early award so that we might begin drilling as early as the second half of this year."

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