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Published on 10/17/2008 in the Prospect News Special Situations Daily.

SPO Partners increases stake in Calpine to 19.4%

By Lisa Kerner

Charlotte, N.C., Oct. 17 - Investors led by SPO Partners II, LP reported beneficial ownership of 82,010,408 shares, or 19.4%, of Calpine Corp. following a series of share purchases between Oct. 10 and Oct. 13.

The transactions were reported in a schedule 13D/A filed with the Securities and Exchange Commission.

SPO Partners reported an 18.9% stake following the purchase of 80,047,061 shares between Oct. 6 and Oct. 9, a prior SEC filing said.

Calpine is a San Jose, Calif., power company.


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