Pogo Producing Co. saw positive results from Gulf of Thailand and Gulf of Mexico exploration drilling in 3Q 2003.

The company drilled 10 wells in the Gulf of Thailand, seven of which were developmental wells on the Benchamas D platform. The wells logged an average pay thickness of 240 ft.

Early in the quarter, government authorities approved the farm-in of the 20,000-acre block 9-A, east of and adjacent to Tantawan field. That approval allowed the immediate drilling of two exploratory wells. The Tantawan No. 23 in the southern part of block 9-A, due east of the Tantawan C platform, logged 162 ft of net (mostly oil) pay. The northerly block 9-A Tantawan No. 24 well logged 98 ft of net (mostly gas) pay and will justify ordering the construction of a production platform for that area. Four other Gulf of Thailand exploration wells will follow immediately.

The first of eight newly fabricated Thailand production platforms has left the yard and is heading to location at Tantawan H, northwest of the current Tantawan production. The remaining seven platforms will be completed over the next nine months and will be located in various parts of the Benchamas, north Benchamas, and Jarmjuree fields.

Pogo has also seen results in the Gulf of Mexico, where the second half of an exploratory drilling program is well under way. At the end of the third quarter, four exploration wells were being drilled. Two of them are deeper wells with gas targets, including a well to 16,000 ft subsea at Eugene Island block 280, a Pogo-operated block where the company has 50% interest.

Both wells will reach their objective depths within the next couple of weeks.

Another exploratory well is a Basal Nebraskan oil prospect at Ewing Bank block 830, owned 100% by Pogo. A well at Eugene Island block 250 reached total depth at the end of 3Q 2003, but was unproductive and was plugged. At Main Pass block 68, Pogo is conducting a crude oil test to an upper Miocene horizon. Two more exploratory wells are to be spudded in the GoM later this year.

10/14/03