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McMoRan Exploration Co. Announces Additional Hydrocarbons in the Lafitte Ultra-Deep Exploration Well

NEW ORLEANS--(BUSINESS WIRE)--McMoRan Exploration Co. (NYSE: MMR) announced today that its Lafitte ultra-deep prospect, which is located on Eugene Island Block 223 in approximately 140 feet of water, has encountered additional hydrocarbons. The well has been drilled to a true vertical depth of 29,756 feet and has been logged with wireline logs to 29,740 feet. The wireline log results indicated 56 net feet of hydrocarbon bearing sand over a 58 foot gross interval in the Cris-R section of the Lower Miocene with good porosity. Flow testing will be required to confirm the ultimate hydrocarbon flow rates from this zone, which was full to base. McMoRan controls approximately 15,000 gross acres in the immediate area of Lafitte.