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McMoRan Exploration Co. Completes Exchange Offer for 5 1/4% Convertible Senior Notes

NEW ORLEANS--(BUSINESS WIRE)--McMoRan Exploration Co. (NYSE: MMR) announced today results from the exchange offer for up to $68.2 million aggregate principal amount of 5 1/4% Convertible Senior Notes due 2012 (“existing notes”). A total of $67.8 million of the existing notes were accepted for exchange for an equal principal amount of newly issued 5 1/4% Convertible Senior Notes due 2013 (“new notes”).