Law Office of Brodsky & Smith, LLC Announces Investigation of McMoRan Exploration Co.

    Law Office of Brodsky & Smith, LLC Announces Investigation of McMoRan
                               Exploration Co.

PR Newswire

BALA CYNWYD, Pa., Dec. 7, 2012

BALA CYNWYD, Pa., Dec. 7, 2012 /PRNewswire/ -- Law office of Brodsky & Smith,
LLC announces that it is investigating potential claims against the Board of
Directors of McMoRan Exploration Co. ("McMoRan" or the "Company") (NYSE: MMR)
relating to the proposed acquisition by Freeport-McMoRan Copper & Gold, Inc.
("Freeport").

Under the terms of the transaction, McMoRan shareholders will receive only
$14.75 in cash and 1.15 units of a royalty trust holding %5 overriding royalty
interest in future production from McMoRan's existing ultra-deep exploration
properties for each share of McMoRan stock they own. The investigation
concerns possible breaches of fiduciary duty and other violations of state law
by the Board of Directors of McMoRan for not acting in the Company's
shareholders' best interests in connection with the sale process to Freeport.

The transaction may undervalue the Company and will not result in a gain for
many McMoRan shareholders. For example McMoRan stock traded at $18.66 on June
29, 2011 and an analyst has set a $21.00 per share price target for McMoRan
stock. In addition, Freeport offer price may reflect the reported short term
difficulties McMoRan may be having obtaining a production flow test from its
deep natural gas well in the Gulf of Mexico.

If you own shares of McMoRan stock and wish to discuss the legal ramifications
of the proposed transaction, or have any questions, you may e-mail or call the
law office of Brodsky & Smith, LLC who will, without obligation or cost to
you, attempt to answer your questions. You may contact Jason L. Brodsky,
Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/515-mmr-mcmoran-exploration-co.html, by calling toll
free 877-LEGAL-90.

SOURCE Brodsky & Smith, LLC

Website: http://www.brodsky-smith.com
 
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