McMoRan Declares Quarterly Cash Dividend

McMoRan Exploration Co. on Tuesday declared a cash dividend of $0.3125 per share for the period from January 1 through March 31, 2007. The dividend is payable on March 31, 2007, to holders of record as of March 15, 2007, for the company's 5% convertible preferred stock.

McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area. McMoRan is also pursuing plans for the development of the MPEH(TM) which will be used for the receipt and processing of liquefied natural gas and the storage and distribution of natural gas.