-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000909518-04-000510.txt : 20040526
<SEC-HEADER>0000909518-04-000510.hdr.sgml : 20040526
<ACCEPTANCE-DATETIME>20040526171132
ACCESSION NUMBER:		0000909518-04-000510
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20040526
GROUP MEMBERS:		PERSHING SQUARE GP, LLC
GROUP MEMBERS:		PERSHING SQUARE, L.P.
GROUP MEMBERS:		WILLIAM ACKMAN

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLAINS RESOURCES INC
		CENTRAL INDEX KEY:			0000350426
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172]
		IRS NUMBER:				132898764
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-33092
		FILM NUMBER:		04832930

	BUSINESS ADDRESS:	
		STREET 1:		700 MILAM
		STREET 2:		SUITE 3100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		8322396000

	MAIL ADDRESS:	
		STREET 1:		700 MILAM
		STREET 2:		SUITE 3100
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEUCADIA NATIONAL CORP
		CENTRAL INDEX KEY:			0000096223
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822]
		IRS NUMBER:				132615557
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		315 PARK AVE S
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
		BUSINESS PHONE:		2124601900

	MAIL ADDRESS:	
		STREET 1:		315 PARK AVENUE SOUTH
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TALCOTT NATIONAL CORP
		DATE OF NAME CHANGE:	19800603
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>jd5-26_13da6.txt
<TEXT>
================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                ----------------

                                  SCHEDULE 13D
             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
     TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

                                (AMENDMENT NO. 6)

                                ----------------


                              PLAINS RESOURCES INC.

                                (Name of Issuer)

COMMON STOCK, PAR VALUE $.10 PER SHARE                   726540503
- --------------------------------------    --------------------------------------
   (Title of class of securities)                     (CUSIP number)

JOSEPH A. ORLANDO                     WILLIAM ACKMAN
LEUCADIA NATIONAL CORPORATION         PERSHING SQUARE CAPITAL MANAGEMENT, L.P.
315 PARK AVENUE SOUTH                 110 EAST 42ND STREET
NEW YORK, NEW YORK 10010              NEW YORK, NEW YORK  10017
(212) 460-1900                        (212) 813-3700
- --------------------------------------------------------------------------------
            (Name, address and telephone number of person authorized
                     to receive notices and communications)

                                  MAY 26, 2004
- --------------------------------------------------------------------------------
             (Date of event which requires filing of this statement)


If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [_].


================================================================================

<PAGE>
<TABLE>
<CAPTION>

- ------------------------------------------------------------       -----------------------------------------------------------------
CUSIP NO. 726540503                                           13D                                                  Page 2
- ------------------------------------------------------------       -----------------------------------------------------------------
<S>             <C>                                         <C>                                                 <C>
- -------------- ---------------------------------------- --------------------------------------------------------------------------
      1        NAME OF REPORTING PERSON:                Leucadia National Corporation
               I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- -------------- ----------------------------------------------------------------------------------------------------- -------------
      2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                                          (A) [X]
                                                                                                                          (B) [_]
- -------------- -------------------------------------------------------------------------------------------------------------------
      3        SEC USE ONLY

- -------------- ----------------------- -------------------------------------------------------------------------------------------
      4        SOURCE OF FUNDS:        NA

- -------------- ----------------------------------------------------------------------------------------------------- -------------
      5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):                        [_]
- -------------- ----------------------------------------------------- -------------------------------------------------------------
      6        CITIZENSHIP OR PLACE OF ORGANIZATION:                 New York

- ----------------------- ----- -------------------------------------- -------------------------------------------------------------
      NUMBER OF          7    SOLE VOTING POWER:                     0
        SHARES
                        ----- -------------------------------------- -------------------------------------------------------------
     BENEFICIALLY        8    SHARED VOTING POWER:                   0
       OWNED BY
                        ----- -------------------------------------- -------------------------------------------------------------
         EACH            9    SOLE DISPOSITIVE POWER:                0
      REPORTING
                        ----- -------------------------------------- -------------------------------------------------------------
     PERSON WITH         10   SHARED DISPOSITIVE POWER:              0

- -------------- -------------------------------------------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:   0

- -------------- ----------------------------------------------------------------------------------------------------- -------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:                                         [_]

- -------------- -------------------------------------------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):   0%

- -------------- ---------------------------------------- --------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON:                CO

- -------------- ---------------------------------------- --------------------------------------------------------------------------


                                       2
<PAGE>
- ------------------------------------------------------------       -----------------------------------------------------------------
CUSIP NO. 726540503                                           13D                                                  Page 3
- ------------------------------------------------------------       -----------------------------------------------------------------

- -------------- ---------------------------------------- --------------------------------------------------------------------------
      1        NAME OF REPORTING PERSON:                Pershing Square, L.P.
               I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):   38-3694138
- -------------- ----------------------------------------------------------------------------------------------------- -------------
      2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                                          (A) [X]
                                                                                                                          (B) [_]
- -------------- -------------------------------------------------------------------------------------------------------------------
      3        SEC USE ONLY

- -------------- ----------------------- -------------------------------------------------------------------------------------------
      4        SOURCE OF FUNDS:        NA

- -------------- ----------------------------------------------------------------------------------------------------- -------------
      5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):                        [_]
- -------------- ----------------------------------------------------- -------------------------------------------------------------
      6        CITIZENSHIP OR PLACE OF ORGANIZATION:                 Delaware

- ----------------------- ----- -------------------------------------- -------------------------------------------------------------
      NUMBER OF          7    SOLE VOTING POWER:                     0
        SHARES
                        ----- -------------------------------------- -------------------------------------------------------------
     BENEFICIALLY        8    SHARED VOTING POWER:                   1,258,500
       OWNED BY
                        ----- -------------------------------------- -------------------------------------------------------------
         EACH            9    SOLE DISPOSITIVE POWER:                0
      REPORTING
                        ----- -------------------------------------- -------------------------------------------------------------
     PERSON WITH         10   SHARED DISPOSITIVE POWER:              1,258,500

- -------------- -------------------------------------------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:   1,258,500

- -------------- ----------------------------------------------------------------------------------------------------- -------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:                                         [_]

- -------------- -------------------------------------------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):   5.33%

- -------------- ---------------------------------------- --------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON:                PN

- -------------- ---------------------------------------- --------------------------------------------------------------------------


                                       3
<PAGE>
- ------------------------------------------------------------       -----------------------------------------------------------------
CUSIP NO. 726540503                                           13D                                                  Page 4
- ------------------------------------------------------------       -----------------------------------------------------------------

- -------------- ---------------------------------------- --------------------------------------------------------------------------
      1        NAME OF REPORTING PERSON:                         Pershing Square GP, LLC
               I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):   38-3694141
- -------------- ----------------------------------------------------------------------------------------------------- -------------
      2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                                          (A) [X]
                                                                                                                          (B) [_]
- -------------- -------------------------------------------------------------------------------------------------------------------
      3        SEC USE ONLY

- -------------- ----------------------- -------------------------------------------------------------------------------------------
      4        SOURCE OF FUNDS:        N/A

- -------------- ----------------------------------------------------------------------------------------------------- -------------
      5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):                        [_]
- -------------- ----------------------------------------------------- -------------------------------------------------------------
      6        CITIZENSHIP OR PLACE OF ORGANIZATION:                 Delaware

- ----------------------- ----- -------------------------------------- -------------------------------------------------------------
      NUMBER OF          7    SOLE VOTING POWER:                     0
        SHARES
                        ----- -------------------------------------- -------------------------------------------------------------
     BENEFICIALLY        8    SHARED VOTING POWER:                   1,258,500
       OWNED BY
                        ----- -------------------------------------- -------------------------------------------------------------
         EACH            9    SOLE DISPOSITIVE POWER:                0
      REPORTING
                        ----- -------------------------------------- -------------------------------------------------------------
     PERSON WITH         10   SHARED DISPOSITIVE POWER:              1,258,500

- -------------- -------------------------------------------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:   1,258,500
- -------------- ----------------------------------------------------------------------------------------------------- -------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:                                         [_]

- -------------- -------------------------------------------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):   5.33%

- -------------- ---------------------------------------- --------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON:                OO

- -------------- ---------------------------------------- --------------------------------------------------------------------------


                                       4
<PAGE>
- ------------------------------------------------------------       -----------------------------------------------------------------
CUSIP NO. 726540503                                           13D                                                  Page 5
- ------------------------------------------------------------       -----------------------------------------------------------------

- -------------- ---------------------------------------- --------------------------------------------------------------------------
      1        NAME OF REPORTING PERSON:                         William Ackman
               I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
- -------------- ----------------------------------------------------------------------------------------------------- -------------
      2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                                          (A) [X]
                                                                                                                          (B) [_]
- -------------- -------------------------------------------------------------------------------------------------------------------
      3        SEC USE ONLY

- -------------- ----------------------- -------------------------------------------------------------------------------------------
      4        SOURCE OF FUNDS:        N/A

- -------------- ----------------------------------------------------------------------------------------------------- -------------
      5        CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):                        [_]
- -------------- ----------------------------------------------------- -------------------------------------------------------------
      6        CITIZENSHIP OR PLACE OF ORGANIZATION:                 United States

- ----------------------- ----- -------------------------------------- -------------------------------------------------------------
      NUMBER OF          7    SOLE VOTING POWER:                     0
        SHARES
                        ----- -------------------------------------- -------------------------------------------------------------
     BENEFICIALLY        8    SHARED VOTING POWER:                   1,258,500
       OWNED BY
                        ----- -------------------------------------- -------------------------------------------------------------
         EACH            9    SOLE DISPOSITIVE POWER:                0
      REPORTING
                        ----- -------------------------------------- -------------------------------------------------------------
     PERSON WITH         10   SHARED DISPOSITIVE POWER:              1,258,500

- -------------- -------------------------------------------------------------------------------------------------------------------
     11        AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:   1,258,500

- -------------- ----------------------------------------------------------------------------------------------------- -------------
     12        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES:                                         [_]

- -------------- -------------------------------------------------------------------------------------------------------------------
     13        PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):   5.33%

- -------------- ---------------------------------------- --------------------------------------------------------------------------
     14        TYPE OF REPORTING PERSON:                IN

- -------------- ---------------------------------------- --------------------------------------------------------------------------

</TABLE>

                                       5
<PAGE>
           This Amendment No. 6 amends the Schedule 13D filed on February 23,
2004, and is filed by Leucadia National Corporation ("Leucadia"), Pershing
Square, L.P., Pershing Square GP, LLC and William Ackman (collectively, the
"Reporting Persons") with respect to the common stock, par value $0.10 per share
("Common Stock"), of Plains Resources Inc. (the "Company").

Item 4.    Purpose of Transaction.
           ----------------------

           Item 4 is hereby supplemented as follows:

           On May 12, 2004, representatives of the special committee of the
Company's Board of Directors requested that Leucadia substantially improve the
economics of its current proposal (the "Proposal") to acquire the Company in
exchange for a package of debt (rated B2 by Moody's Investors Service),
preferred stock and cash. Among other things, the special committee requested
that Leucadia (i) increase the cash offered to $150 million, (ii) increase the
yield on the notes by $0.16 per annum and (iii) eliminate the preferred stock
and tender offer components of the Proposal.

           Leucadia believes that the Proposal is superior to the current $16.75
per share proposed transaction and remains committed to the Proposal. In view of
the special committee's request, Leucadia did not believe that a meeting with
the special committee was warranted.

           The Reporting Persons may acquire additional securities of the
Company or dispose of securities of the Company at any time and from time to
time in the open market, in privately negotiated transactions or otherwise.

           Although the foregoing represents the range of activities presently
contemplated by the Reporting Persons and, to their knowledge, their respective
general partners, directors and officers, as applicable, with respect to the
Company, it should be noted that the possible activities of the Reporting
Persons and their respective general partners, directors and officers are
subject to change at any time.


Item 7.    Materials to be Filed as Exhibits.
           ---------------------------------

1. Agreement among the Reporting Persons with respect to the filing of this
Schedule 13D.




                                       6
<PAGE>
                                    SIGNATURE

           After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.

                                        LEUCADIA NATIONAL CORPORATION


                                        By:   /s/ Joseph A. Orlando
                                            ------------------------------------
                                            Name:  Joseph A. Orlando
                                            Title: Vice President and Chief
                                                   Financial Officer


                                        PERSHING SQUARE, L.P.

                                        By:    PERSHING SQUARE GP, LLC


                                        By:   /s/ William Ackman
                                            ------------------------------------
                                            Name:  William Ackman
                                            Title: Managing Member



                                        PERSHING SQUARE GP, LLC


                                        By:   /s/ William Ackman
                                            ------------------------------------
                                            Name:  William Ackman
                                            Title: Managing Member



                                        By:   /s/ William Ackman
                                            ------------------------------------
                                            Name: William Ackman






Date:    May 26, 2004



                                       7
<PAGE>
                                  EXHIBIT INDEX
                                  -------------

Exhibit No.
- -----------

Exhibit 1 -    Agreement among the Reporting Persons with respect to the filing
               of this Schedule 13D.











                                       8

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>jd5-26ex_1.txt
<TEXT>
                                                                       EXHIBIT 1

                                    AGREEMENT

           This will confirm the agreement by and among all the undersigned that
the Schedule 13D filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of the common stock of Plains Resources
Inc. is being filed on behalf of each of the entities named below. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

Dated:  May 26, 2004

                                          LEUCADIA NATIONAL CORPORATION


                                          By:   /s/ Joseph A. Orlando
                                             -----------------------------------
                                              Name:  Joseph A. Orlando
                                              Title: Vice President and Chief
                                                     Financial Officer


                                          PERSHING SQUARE, L.P.

                                          By:    PERSHING SQUARE GP, LLC


                                          By:  /s/ William Ackman
                                             -----------------------------------
                                              Name:  William Ackman
                                              Title: Managing Member



                                          PERSHING SQUARE GP, LLC


                                          By:   /s/ William Ackman
                                             -----------------------------------
                                              Name:  William Ackman
                                              Title: Managing Member


                                          By:   /s/ William Ackman
                                             -----------------------------------
                                              Name: William Ackman



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
