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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 its $74.7 million 5 1/4% Convertible Senior Notes due 2011 (“existing notes”). A total of $68.2 million of the existing notes were accepted for exchange for an equal principal amount of newly issued 5 1/4% Convertible Senior Notes due 2012 (“new notes”).