McMoRan Exploration Co.

Freeport-McMoRan Copper & Gold and McMoRan Exploration announced that the shareholders of MMR approved FCX’s acquisition of MMR at a special meeting held today. A majority of the outstanding shares, excluding shares held by interested parties, approved the transaction. The parties expect that the acquisition will close promptly.

McMoRan Exploration announced today that, in connection with the pending merger with Freeport-McMoRan Copper & Gold, MMR has delivered notices regarding the effect of the merger as applicable to holders of the following series of its outstanding convertible securities in accordance with the applicable certificates of designation and indentures:

Freeport-McMoRan Copper & Gold and McMoRan Exploration today announced that MMR will hold a special meeting of its stockholders on June 3, 2013, to vote on the proposed acquisition of MMR by FCX. Stockholders who held shares of MMR common stock at the close of business on April 4, 2013, the record date of the special meeting, will be entitled to vote on the proposed merger. The transaction is expected to close on June 3 [...]

McMoRan Exploration today declared the following cash dividends payable on May 15, 2013 to holders of record as of May 1, 2013 on its preferred stocks: $14.375 per share of MMR’s 5 3/4% Convertible Perpetual Preferred Stock. $20.00 per share of MMR’s 8% Convertible Perpetual Preferred Stock.

McMoRan Exploration reported today that independent reserve engineers engaged for the sole account of McMoRan estimated proved, probable and possible oil and gas reserves of 546.7 Bcfe gross (141.7 Bcfe net to McMoRan, including 12.9 Bcfe of net proved reserves) associated with interim results from the sands encountered above 24,000 feet in the Lineham Creek ultra-deep exploratory well located onshore South Louisiana [...]

McMoRan Exploration today updated the status of the Davy Jones No. 1 well on South Marsh Island Block 230. As previously reported, McMoRan is developing plans at the Davy Jones No. 1 well to pump a hydraulic fracture treatment including proppant to facilitate hydrocarbon movement into the wellbore. Future plans will incorporate data gained to date at Davy Jones as well as potential core and log data from the in progress [...]

McMoRan Exploration today declared the following cash dividends payable on February 15, 2013 to holders of record as of February 1, 2013 on its preferred stocks: $14.375 per share of MMR’s 5¾% Convertible Perpetual Preferred Stock. $20.00 per share of MMR’s 8% Convertible Perpetual Preferred Stock.

McMoRan Exploration today reported a net loss applicable to common stock of $1.2 million, $0.01 per share, for the fourth quarter of 2012 compared with net income of $28.4 million, $0.16 per share, for the fourth quarter of 2011. Fourth quarter 2012 results include $39.7 million in net gains associated with the sale of two traditional Gulf of Mexico (GOM) property packages. For the year 2012, McMoRan reported a net loss [...]

McMoRan Exploration updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico (GOM) Shelf and onshore in the Gulf Coast area, including ongoing operations at Davy Jones No. 1, completion plans at Blackbeard West No. 2 and operations at Lineham Creek and Lomond North. McMoRan announced today that operations to achieve commercial production at Davy Jones No. 1 on South Marsh [...]