Ryan & Maniskas, LLP Announces Investigation of Plains Exploration & Production Company

  Ryan & Maniskas, LLP Announces Investigation of Plains Exploration &
  Production Company

Business Wire

WAYNE, Pa. -- December 06, 2012

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/pxp) is investigating potential
claims against the board of directors of Plains Exploration & Production
Company (“PXP” or the “Company”) (NYSE: PXP) for possible breaches of
fiduciary duty and other violations of state law in connection with the sale
of the Company to Freeport-McMoRan Copper & Gold Inc. ("FCX") in a transaction
valued at approximately $6.9 billion.

Our investigation concerns possible breaches of fiduciary duty and other
violations of law related to the approval of the transaction by the Company’s
board of directors; in particular, whether the Company undertook a fair
process to obtain fair consideration for all shareholders of PXP. For more
information regarding our investigation, please contact Ryan & Maniskas, LLP
(Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/pxp.

Under the terms of the transaction, PXP shareholders will receive 0.6531
shares of FCX common stock and $25.00 in cash for each share of PXP stock they
own, representing a total consideration of $50.00 per PXP share.

If you own shares of PXP and would like to learn more about these claims or if
you wish to discuss these matters and have any questions concerning this
announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at
(877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/pxp. You
may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information
about class action cases in general, please visit our website:
www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
nationwide.

Contact:

Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/pxp