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McMoRan Exploration Co. Announces Interim Update on the Lafitte Ultra-Deep Exploration Well

NEW ORLEANS--(BUSINESS WIRE)--McMoRan Exploration Co. (NYSE: MMR) today announced results from interim logging operations at the Lafitte ultra-deep exploration well located on Eugene Island Block 223 in 140 feet of water. The Lafitte well commenced drilling on October 3, 2010 and has been drilled to 27,038 feet. Wireline logs indicate several Lower Miocene sands below 24,300 feet that appear to be hydrocarbon bearing. The sands have various thicknesses that aggregate approximately 200 gross feet (95 feet net), some of which are contained within a thin-bedded, sand-shale formation (i.e. laminated section).