Article: McMoRan Exploration Co. Updates Drilling and Production and Main Pass Energy Hub(TM) Activities; Announces Settlement of Litigation.

NEW ORLEANS -- McMoRan Exploration Co. (NYSE: MMR) today updated its exploratory drilling and development activities with a total of eleven wells currently in progress, including seven exploratory wells and four development wells. Two additional exploratory wells are expected to commence in early 2006.

EXPLORATION ACTIVITIES

McMoRan is actively engaged in drilling activities on seven "deep gas" exploratory prospects including Cane Ridge at Louisiana State Lease 18055, JB Mountain Deep at South Marsh Island Block 224, Elizabeth at South Marsh Island Block 230, Cabin Creek at West Cameron Block 95, Point Chevreuil at Louisiana State Lease 18350, Denali at ...

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