Presentations/Webcasts

This portion of PXP's website contains, in addition to historical information, forward-looking information regarding PXP that is intended to be covered by the safe harbor "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. All statements included in this section that address activities, events or developments that PXP expects, believes or anticipates will or may occur in the future are forward-looking statements. These include statements regarding:

* commodity prices,
* reliability of reserve and production estimates,
* production expense estimates,
* cash flow estimates,
* future financial performance,
* planned capital expenditures, and
* other matters that are discussed in PXP's filings with the SEC.

These statements are based on our current expectations and projections about future events and involve known and unknown risks, uncertainties, and other factors that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Please refer to our filings with the SEC, including our Form 10-K, for a discussion of these risks.

All forward-looking statements in this section are made as of the date hereof, and you should not place undue reliance on these statements without also considering the risks and uncertainties associated with these statements and our business that are discussed in this section. Moreover, although we believe the expectations reflected in the forward-looking statements are based upon reasonable assumptions, we can give no assurance that we will attain these expectations or that any deviations will not be material. Except for any obligation to disclose material information under the Federal securities laws, we do not intend to update these forward-looking statements and information.

Reserve Data: The information in these presentations include estimates of our proved reserves as well as other reserve information derived from geological and engineering analysis of projects involving unproven recovery techniques or the drilling of exploration or other wells not yet classified as “proved reserves” under SEC definitions.

Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose proved, probable and possible reserves, as specifically defined by the SEC. We may use certain terms in the Company presentations that do not meet these definitions, such as "non-proven," "other reserves," "estimated ultimate recovery," “resource potential” and "reserve potential," that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our most recent Form 10-K, available from us at 700 Milam, Suite 3100, Houston, Texas 77002 (Investor Relations) or our web site under “Investor Relations” or “SEC Filings.” You can also obtain this form from the SEC by calling 1-800-SEC-0330 or at the SEC's web site at www.sec.gov.

Note that the information in the presentations is made as of the applicable date indicated. We will not update such information after such applicable date (except as noted).

References to quantities of oil or natural gas may include amounts that the Company believes will ultimately be produced, but that are not yet classified as “proved reserves” under SEC definitions