All forward-looking statements in this report 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 report and our other filings with the
SEC. 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. We do not intend to update these forward-looking
statements and information except as required by law. See Item 1A – Risk Factors and Item 7 –
Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical
Accounting Policies and Estimates in this report for additional discussions of risks and uncertainties.
AVAILABLE INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the SEC.
You may read and copy any document we file at the SEC’s Public Reference Room at 100 F Street,
NE, Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further
information on the SEC’s Public Reference Room. Our SEC filings are also available to the public at
the SEC’s website at www.sec.gov. You may also obtain copies of our annual, quarterly and current
reports, proxy statements and certain other information filed with the SEC, as well as amendments
thereto, free of charge from our website, www.pxp.com. These documents are posted to our website
as soon as reasonably practicable after we have filed or furnished these documents with the SEC. We
have placed on our website copies of our Corporate Governance Guidelines, charters of our Audit,
Organization & Compensation and Nominating & Corporate Governance Committees, and our Policy
Concerning Corporate Ethics and Conflicts of Interest. We intend to post amendments to and waivers
of our Policy Concerning Corporate Ethics and Conflicts of Interest (to the extent applicable to our
directors, principal executive officer, principal financial officer, principal accounting officer and other
executive officers) on our website. Stockholders may request a printed copy of these governance
materials by writing to the Corporate Secretary, Plains Exploration & Production Company, 700 Milam,
Suite 3100, Houston, TX 77002. No information from our website or the SEC’s website is incorporated
by reference in this Annual Report.
GLOSSARY OF OIL AND GAS TERMS
The following are abbreviations and definitions of certain terms commonly used in the oil and gas
industry and this document:
Analogous reservoir.
Analogous reservoirs, as used in resource assessments, have similar rock and
fluid properties, reservoir conditions (depth, temperature, and pressure) and drive mechanisms, but are
typically at a more advanced stage of development than the reservoir of interest and thus may provide
concepts to assist in the interpretation of more limited data and estimation of recovery. When used to
support proved reserves,
analogous reservoir
refers to a reservoir that shares all of the following
characteristics with the reservoir of interest: (i) the same geological formation (but not necessarily in
pressure communication with the reservoir of interest); (ii) the same environment of deposition;
(iii) similar geologic structure; and (iv) the same drive mechanism.
API gravity.
A system of classifying oil based on its specific gravity, whereby the greater the gravity,
the lighter the oil.
Bbl.
One stock tank barrel, or 42 U.S. gallons liquid volume, used in reference to oil or other liquid
hydrocarbons.
Bcf.
One billion cubic feet of gas.
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