Article: McMoRan Exploration Co. Reports First-Quarter 2004 Results & Updates Gulf of Mexico Drilling & Main Pass Energy Hub Activities.

Business Editors

NEW ORLEANS--(BUSINESS WIRE)--April 22, 2004

McMoRan Exploration Co. (NYSE:MMR):

HIGHLIGHTS

-- Pursuing active exploration activities under newly established

multi-year exploration venture and expect to commence drilling

on at least 10 wells in the initial year of this venture.

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