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Filing Details

Accession Number:: 0001181431-10-058995
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-02 19:54:46
Reporting Period:: 2010-11-30

Filing Date:: 2010-12-02
Accepted Time:: 2010-12-02 19:54:46
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1090425	Lamar Advertising Cow	LAMR	Services-Advertising Agencies (7311)	721449411

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1252464	H Edward Mcdermott	591 Redwood Highway , Suite 3215 Mill Valley CA 94941		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-11-30	0	$0.00	0	No	4	P	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnotes

Footnotes

On November 30, 2010, Edward H. McDermott ("EHM") purchased one-third of the outstanding shares of SPO Advisory Corp. ("SPO Corp.") previously owned by William J. Patterson. William J. Patterson passed away on September 24, 2010. Following the transaction which caused this filing, 17,902,984 shares of the issuer's common stock are owned directly by SPO Partners II, L.P. ("SPO Partners"), and may be deemed to be indirectly beneficially owned by (i) SPO Advisory Partners, L.P. ("SPO Advisory"), the sole general partner of SPO Partners, (ii) SPO Corp., the sole general partner of SPO Advisory, and (iii) John H. Scully ("JHS"), William E. Oberndorf ("WEO") and EHM, the three controlling persons of SPO Corp.
Additionally, following the transaction causing this filing, 735,730 shares of the issuer's common stock are owned directly by San Francisco Partners, L.P. ("SF Partners"), and may be deemed to be indirectly beneficially owned by (i) SF Advisory Partners, L.P. ("SF Advisory"), the sole general partner of SF Partners, (ii) SPO Corp., the sole general partner of SF Advisory, and (iii) JHS, WEO and EHM, the three controlling persons of SPO Corp.
Additionally, following the transactions causing this filing, EHM beneficially owns 800 shares of the issuer's common stock held in the EHM individual retirement account, which is self directed. Additionally, EHM owns 3,234 shares of the issuer's common stock and 10,000 non-qualified stock options of the Issuer. Pursuant to the partnership agreement governing SPO Partners, these shares and stock options may be deemed to be beneficially owned by SPO Partners together with any profits arising therefrom.