Thursday, October 05, 2006

Texas Billionaire Scoops Up 9% Stake in Pogo Producing (PPP)

In a 13D filing on Pogo Producing Co. (NYSE: PPP), TRT Holdings, Inc. disclosed a 9.21% stake (5.3 million shares) in the company.

TRT Holdings is run by Texas billionaire Robert Rowling. TRT owns Omni Hotel and Gold's Gym and Tana Exploration Company. The family made their money in oil, selling Tana Oil and Gas to Texaco in 1989.

Pogo Producing explores for, develops and produces oil and natural gas. Headquartered in Houston, Pogo owns approximately 4,800,000 gross leasehold acres in major oil and gas provinces in North America, 3,119,000 acres in New Zealand and 1,480,000 acres in Vietnam.

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