Monday, March 12, 2007

Loeb's Third Point LLC Gets Two on Pogo Producing's (PPP) Board

Pogo Producing Company (NYSE: PPP) and Third Point LLC reached an agreement under which Pogo's Board of Directors will be expanded from eight to ten members and Daniel S. Loeb and Bradley L. Radoff of Third Point will be appointed to the Board of Directors effective immediately.

Third Point and its affiliates have agreed not to solicit proxies in connection with Pogo's 2007 annual meeting or take certain other stockholder actions.
Pogo is still actively exploring strategic alternatives.

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