McMoRan Announces Successful Production Test at Flatrock Discovery

McMoRan Exploration Co. announced today a successful production test at the Flatrock discovery (location ‘A’), located on OCS 310 at South Marsh Island Block 212 in approximately 10 feet of water. The production test, which was performed in the Operc section, indicated a gross flow rate of approximately 71 million cubic feet of natural gas per day (MMcf/d) and 739 barrels of condensate, approximately 14 MMcfe/d net to McMoRan, on a 37/64th choke with flowing tubing pressure of 8,520 pounds per square inch. McMoRan and its partners will use the results of the production test to determine the optimal flow rate for the well, which is expected to begin commercial production by year-end 2007 using the Tiger Shoal facilities in the immediate area.