Article: McMoRan Exploration Co. Reports Third-Quarter 2006 Results and Updates Gulf of Mexico Exploration and Development & Main Pass Energy Hub(TM) Activities.

NEW ORLEANS -- McMoRan Exploration Co. (NYSE: MMR):

HIGHLIGHTS

* In-progress exploration and development activities:

* Successful development well at South Marsh Island Block 217 (Hurricane No. 3) with initial production expected in the fourth quarter of 2006.

* Laphroaig well drilling in inland waters, onshore St. Mary Parish, Louisiana

* Zigler Canal well drilling onshore Vermilion Parish, Louisiana

* 12 discoveries on 25 prospects drilled and evaluated since 2004. Four additional prospects in progress or not fully evaluated.

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