Adding text to various coordinates

I"d like to be able to add text to various (x,y) coordinates. Currently

  > I specify a figsize of (1.3,0.3) and I add as text (via the text
  > method) the value of the last y, right next to that data point.
  > Depending on the actual value, sometimes the text does not fit within
  > the bounds of the figure.

  > Is there any way I can enlarge just the figure so that the text can
  > fit, without enlarging the axes? Or is there a better way to solve my
  > problem?

There are a few parameters that affect the relative sizes of all the
figure elements and text

  figsize - passed to the figure command, width and height in inches
  dpi - passed to the figure command, number of dots per inch
  fontsize - passed to the text command, size of text in points
  axes([l,b,w,h]) - create a custom axes with width and height as
fractions of figure size

By tweaking these parameters, you should be able to place your text
anywhere you want at any size you want.

If this doesn't help, post a complete example and describe what is
wrong and someone may be able to offer pointers