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<item><link>http://www.alacrastore.com/storecontent/bir/474184</link><guid isPermaLink="false">bir/474184</guid><bir:index_mode xmlns:bir="http://www.alacra.com/bir">norm</bir:index_mode><title>McMoran Exploration Co.</title><bir:company xmlns:bir="http://www.alacra.com/bir">McMoran Exploration Co.</bir:company><bir:company xmlns:bir="http://www.alacra.com/bir">Horn Silver Mines Co.</bir:company><bir:company xmlns:bir="http://www.alacra.com/bir">McMoran Oli and Gas</bir:company><bir:cou xmlns:bir="http://www.alacra.com/bir">United States</bir:cou><bir:descr xmlns:bir="http://www.alacra.com/bir">Mining: Exploration, development and production of oil and natural gas offshore and purchasing, transporting, terminalling, processing and marketing of sulphur.</bir:descr><bir:sic xmlns:bir="http://www.alacra.com/bir">1311</bir:sic><bir:naics xmlns:bir="http://www.alacra.com/bir">211111</bir:naics><bir:class xmlns:bir="http://www.alacra.com/bir">17</bir:class><bir:size xmlns:bir="http://www.alacra.com/bir">C</bir:size><bir:revenue xmlns:bir="http://www.alacra.com/bir">I</bir:revenue><bir:ticker xmlns:bir="http://www.alacra.com/bir">MMR</bir:ticker><pubDate>9/6/2008 6:15:29 AM</pubDate><bir:docid xmlns:bir="http://www.alacra.com/bir">474184</bir:docid><category>Company Profiles &amp; Financials</category><alacra:ip>Gale Company Profiles</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/BW-0001-27677330</link><guid isPermaLink="false">newstex/BW-0001-27677330</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> Aug. ##, #### (Business Wire) --  Four free stock picks are being made available today on Zacks.com. 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Canada</newstex:Publication><title>Coro Announces Exploration Agreement With Freeport-McMoRan Exploration Corp. for its Talca Belt Properties in Central Chile</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">CCN-0001-27323595</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">CORO MINING CORP</newstex:index_entry_company><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">MCMORAN EXPLORATION CO</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">COP</newstex:index_entry_ticker><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">CROJF</newstex:index_entry_ticker><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">MMR</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/664171</link><guid isPermaLink="false">spcred/664171</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>8/8/2008 3:36:23 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>Rating On McMoRan Exploration $300 Mil Note Issue Raised To 'B-'; Recovery Rtg Revised To '3'</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">664171</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Oil &amp; Gas Exploration &amp; Production</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">NEW YORK (Standard&amp;Poor's) Aug. 8, 2008--Standard&amp;Poor's Ratings Services said today it raised its issue-level rating and revised its recovery rating on McMoRan Exploration Co.'s $300 million unsecured notes to 'B-' (the same as the corporate credit rating) from 'CCC+'. We revised the recovery rating to '3' from '5'. The '3' recovery rating indicates an expectation for meaningful recovery (50% to 70%) in the event of a payment default. (For the complete recovery analysis, see Standard&amp;Poor's recovery report, to be published immediately after release of this report.) The changes are in response to McMoRan's updated mid-year reserve report for 2008, as well as our raised pricing assumptions. (See "Standard&amp;Poor?s Significantly Raises Pricing Assumptions</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">582411</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">McMoRan Exploration Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">428064</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">MMR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Metals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/664172</link><guid isPermaLink="false">spcred/664172</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Research Update from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>8/8/2008 3:36:00 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Research Update: Rating On McMoRan Exploration $300 Mil Note Issue Raised To 'B-'; Recovery Rtg Revised To '3'</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">664172</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Oil &amp; Gas Exploration &amp; Production</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">On Aug. 8, 2008, Standard&amp;Poor's Ratings Services raised its issue-level rating and revised its recovery rating on McMoRan Exploration Co.'s $300 million unsecured notes to 'B-' (the same as the corporate credit rating) from 'CCC+'. We revised the recovery rating to '3' from '5'. The '3' recovery rating indicates an expectation for meaningful recovery (50% to 70%) in the event of a payment default. (For the complete recovery analysis, see Standard&amp;Poor's recovery report, to be published immediately after release of this research update.) The changes are in response to McMoRan's updated mid-year reserve report for 2008, as well as our raised pricing assumptions. (See "Standard&amp;Poor?s Significantly Raises Pricing Assumptions Behind Oil&amp;Gas Company</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">582411</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">McMoRan Exploration Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">428064</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">MMR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">RESUPD</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Metals</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1898873</link><guid isPermaLink="false">ccbn/T1898873</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Welcome to the McMoRan Exploration second quarter conference call. (OPERATOR INSTRUCTIONS). I would now turn the conference over to Ms. Kathleen Quirk, Senior Vice President and Treasurer of McMoRan Exploration. Please go ahead, ma'am. ...

</description><pubDate>7/17/2008 12:07:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">McMoRan Exploration Co.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q2 2008 McMoRan Exploration Co. Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">MMR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q2 2008 McMoRan Exploration Co. Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1898873</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/657062</link><guid isPermaLink="false">spcred/657062</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>6/30/2008 3:27:30 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>McMoRan Exploration Co. Outlook Revised To Positive On Drilling Program; Ratings Affirmed</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">657062</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Oil &amp; Gas Exploration &amp; Production</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">NEW YORK (Standard&amp;Poor's) June 30, 2008--Standard&amp;Poor's Ratings Services today revised its outlook on oil and gas exploration and production (E&amp;P) company McMoRan Exploration Co. to positive from stable and affirmed its ratings, including the 'BÂ–' corporate credit rating on the company. "The positive outlook reflects the company's strengthened drilling program, especially at the Flatrock field, as well as the robust cash flows associated with this production, which should result in a significant decrease in leverage by the end of 2008," said Standard&amp;Poor's credit analyst Amy Eddy. The corporate credit rating on McMoRan Exploration Co. reflects the company's high-risk deep-shelf exploration strategy in the Gulf of Mexico, unproven ability to profitably add proved reserves, and</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">582411</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">McMoRan Exploration Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">428064</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">MMR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Metals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/657063</link><guid isPermaLink="false">spcred/657063</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Research Update from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>6/30/2008 3:27:30 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Research Update: Outlook On McMoRan Exploration Co. Revised To Positive On Drilling Program; Ratings Affirmed</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">657063</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Oil &amp; Gas Exploration &amp; Production</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">On June 30, 2008, Standard&amp;Poor's Ratings Services revised its outlook on oil and gas exploration and production (E&amp;P) company McMoRan Exploration Co. to positive from stable and affirmed its ratings, including the 'BÂ–' corporate credit rating on the company. The positive outlook reflects the company's strengthened drilling program, especially at the Flatrock field, as well as the robust cash flows associated with this production, which should result in a significant decrease in leverage by the end of 2008. The corporate credit rating on McMoRan Exploration Co. reflects the company's high-risk deep-shelf exploration strategy in the Gulf of Mexico, unproven ability to profitably add proved reserves, and high, but improving leverage. The rating also reflects strong cash flows resulting</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">582411</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">McMoRan Exploration Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">428064</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">MMR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">RESUPD</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Metals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1822745</link><guid isPermaLink="false">ccbn/T1822745</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good morning, ladies and gentlemen. Thank you for standing by and welcome to the McMoRan Exploration first quarter #### conference call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. (OPERATOR INSTRUCTIONS). I would now like to turn the conference over to Ms. Kathleen Quirk, Senior Vice President and Treasurer. Please go ahead, ma'am. ...

</description><pubDate>4/18/2008 4:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">McMoRan Exploration Co.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q1 2008 McMoRan Exploration Co. Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">MMR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q1 2008 McMoRan Exploration Co. Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1822745</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/643612</link><guid isPermaLink="false">spcred/643612</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>4/18/2008 3:32:42 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: McMoRan Exploration Co.</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">643612</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Oil &amp; Gas Exploration &amp; Production</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Metals &amp; Mining</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The corporate credit rating on McMoRan Exploration Co. reflects the company's high-risk deep-shelf exploration strategy in the Gulf of Mexico, unproven ability to profitably add proved reserves, and high leverage. The rating also reflects strong cash flows resulting from steep decline curves and an improving production profile. As of March 31, 2008, McMoRan had $852 million in adjusted total debt (including tax-adjusted asset-retirement obligations of $198 million). McMoRan's reserve base is geographically concentrated on the conventional shelf, with a short reserve life of less than four years. In August 2007, McMoRan purchased Gulf of Mexico assets from Newfield Exploration Co., which enlarged McMoRan's reserve base by 312 billion cubic feet equivalent (bcfe), to 364 bcfe (67% gas and 85% proved</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">582411</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">10102020 101020 1010 10</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">McMoRan Exploration Co.</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">428064</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">MMR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Energy</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Gas</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Metals</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1743955</link><guid isPermaLink="false">ccbn/T1743955</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>1/18/2008 1:06:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">McMoRan Exploration Co.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q4 2007 McMoRan Exploration Co. Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">MMR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q4 2007 McMoRan Exploration Co. Conference Call Transcript</title><description>...Ladies and gentlemen, thank you for standing by, and welcome to the McMoRan Exploration fourth-quarter #### results. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. (OPERATOR INSTRUCTIONS). I'll now turn the conference over to Ms. Kathleen Quirk, Senior Vice President and Treasurer. Please go ahead, ma'am. ...

</description><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1743955</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1670198</link><guid isPermaLink="false">ccbn/T1670198</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>10/19/2007 4:07:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">McMoRan Exploration Co.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q3 2007 McMoRan Exploration Co. Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">MMR</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q3 2007 McMoRan Exploration Co. Conference Call Transcript</title><description>...Ladies and gentlemen, thank you for standing by. Welcome to the McMoRan Exploration third-quarter #### conference call. (OPERATOR INSTRUCTIONS). I would now like to turn the conference over to Ms. Kathleen Quirk, Senior Vice President. ...

</description><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1670198</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/srp/23963</link><guid isPermaLink="false">srp/23963</guid><srp:index_mode xmlns:srp="http://www.alacra.com/srp">norm</srp:index_mode><description>...Address:#### Poydras Street, New Orleans, Louisiana ##### Incorporated:DelawareWeb Site: www.mcmoran.comSIC Classification: Crude Petroleum and Natural Gas (####) Business Description: McMoRan Exploration Co. is engaged in the exploration, development and production of oil and gas offshore in the Gulf of Mexico and onshore in the Gulf Coast region. Indices:Russell ####, Russell #### ...

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