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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Washington,
      D.C.&#160;&#160;20549</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      8-K</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of
      1934</strong></font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Date
      of Report (Date of earliest event reported):&#160;&#160;June 21,
      2007</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><img src="mmr_logo.jpg" alt=""></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman;"><strong>McMoRan
      Exploration Co.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Exact
      name of registrant as specified in its charter)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Delaware</strong></font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>001-07791</strong></font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
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            </td>
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            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(State
                or other jurisdiction of incorporation)</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Commission
                File Number)</font></div>
            </td>
            <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="18%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(IRS
                Employer Identification Number)</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>1615
                Poydras Street</strong></font></div>
            </td>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>New
                Orleans, Louisiana</strong></font></div>
            </td>
            <td valign="top" width="36%">
              <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>70112</strong></font></div>
            </td>
          </tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Address
                of principal executive offices)</font></div>
            </td>
            <td valign="top" width="36%">
              <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Zip
                Code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registrant's
      telephone number, including area code:&#160;&#160;(504) 582-4000</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[
      ]
      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[
      ]
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[
      ]
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">[
      ]
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))</font></div>
    <div><br></div>
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    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Item
      1.01.&#160;&#160;<u>Entry into a Material Definitive Agreement.</u></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">On
      June
      20, 2007, McMoRan Oil &amp; Gas LLC (&#8220;MOXY), a wholly owned subsidiary of
      McMoRan Exploration Co. (&#8220;McMoRan&#8221;) entered into a definitive Purchase and Sales
      Agreement with Newfield Exploration Company (&#8220;NFX&#8221;).&#160;&#160;Pursuant to the
      terms of the agreement, MOXY has agreed to acquire substantially all of the
      property interests and related assets and obligations of NFX on the outer
      continental shelf of the Gulf of Mexico for $1.1 billion in cash.&#160;&#160;The
      acquisition is expected to close in the third quarter of 2007 with an effective
      date of July 1, 2007.&#160;&#160;This purchase price is subject to&#160;closing
      date adjustments to reflect the July 1 effective date.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      closing of the acquisition is subject to customary closing conditions, including
      the expiration or termination of the regulatory review period under the Hart
      Scott Rodino Antitrust Improvement Act of 1976 and obtaining the necessary
      consents from the Federal Minerals Management Service and other applicable
      state
      and federal authorities.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">McMoRan
      has received $1.6 billion in financing commitments from JP Morgan and Merrill
      Lynch &amp; Co., which will be used to fund the transaction, repay McMoRan&#8217;s
      existing $100 million second tier term loan and provide liquidity
      for&#160;&#160;working capital requirements.&#160;&#160;The financing will
      include an $800 million secured revolving bank credit facility and an $800
      million interim bridge loan facility.&#160;&#160;McMoRan expects to issue
      long-term notes and equity and equity-linked securities to replace the temporary
      bridge loan facility.<strong>&#160;</strong></font></div>
    <div><br></div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Item
      8.01
<u>Other Events</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">McMoRan
      also announced in a conference call with securities analysts on June 21, 2007
      preliminary drilling results associated with its Flatrock exploratory well
      at
      South Marsh Island Block 212.&#160;&#160;&#160;McMoRan indicated the well is
      drilling below 14,000 feet.&#160;&#160;The well has encountered a resistive
      section indicating potential pay by log-while-drilling tools.&#160;&#160;The
      well will continue drilling to 14,400 feet, the next casing point, and will
      be
      logged with wireline tools to evaluate this potentially productive
      zone.&#160;&#160;&#160;Casing will be set over the zone before drilling deeper
      (the total planned depth for the well is 16,500 feet).</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Item
      9.01&#160;&#160;<u>Financial Statements and Exhibits</u></font></div>
    <div><br></div>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exhibits.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      Exhibits included as part of this Current Report&#160;are listed in the attached
      Exhibit Index.</font></div>
    <div><br></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">SIGNATURE</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">McMoRan
      Exploration Co.</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">By:
      /s/
      Nancy D. Parmelee</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 225pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">----------------------------------------</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Nancy
      D.
      Parmelee</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Senior
      Vice President, Chief Financial Officer</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">and
      Secretary</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 234pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Principal
      Financial Officer)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Date:&#160;&#160;June
      22, 2007</font></div>
    <div><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">McMoRan
      Exploration Co.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exhibit
      Index</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Exhibit
      Number</u></font></div>
    <div><br></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><a href="exhibit99_1.htm">99.1</a></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Purchase
                and Sale Agreement dated June 20, 2007 by and between Newfield Exploration
                Company as Seller and McMoRan Oil &amp; Gas LLC as Buyer effective July 1,
                2007.</font></div>
            </td>
          </tr>

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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><a href="exhibit99_2.htm">99.2</a></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Press
                Release dated June 21, 2007, titled &#8220;McMoRan Exploration Co. to Purchase
                Gulf of Mexico Shelf Properties from Newfield Exploration Company
                for $1.1
                Billion.&#8221;</font></div>
            </td>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><a href="exhibit99_3.htm">99.3</a></font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Slides
                presented in conjunction with McMoRan&#8217;s conference call announcing its
                acquisition of Newfield&#8217;s Gulf of Mexico shelf properties conducted via
                the internet on June 21, 2007.</font></div>
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mmr62107-8k.htm
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C.  20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of
      1934
Date
      of Report (Date of earliest event reported):  June 21,
      2007
McMoRan
      Exploration Co.
(Exact
      name of registrant as specified in its charter)
Delaware
001-07791
72-1424200
(State
                or other jurisdiction of incorporation)
(Commission
                File Number)
(IRS
                Employer Identification Number)
1615
                Poydras Street
New
                Orleans, Louisiana
70112
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
      telephone number, including area code:  (504) 582-4000
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
[
      ]
      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
[
      ]
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
[
      ]
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))
[
      ]
      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))
Item
      1.01.
Entry into a Material Definitive Agreement.
On
      June
      20, 2007, McMoRan Oil & Gas LLC ("MOXY), a wholly owned subsidiary of
      McMoRan Exploration Co. ("McMoRan") entered into a definitive Purchase and Sales
      Agreement with Newfield Exploration Company ("NFX").  Pursuant to the
      terms of the agreement, MOXY has agreed to acquire substantially all of the
      property interests and related assets and obligations of NFX on the outer
      continental shelf of the Gulf of Mexico for $1.1 billion in cash.  The
      acquisition is expected to close in the third quarter of 2007 with an effective
      date of July 1, 2007.  This purchase price is subject to closing
      date adjustments to reflect the July 1 effective date.
The
      closing of the acquisition is subject to customary closing conditions, including
      the expiration or termination of the regulatory review period under the Hart
      Scott Rodino Antitrust Improvement Act of 1976 and obtaining the necessary
      consents from the Federal Minerals Management Service and other applicable
      state
      and federal authorities.
McMoRan
      has received $1.6 billion in financing commitments from JP Morgan and Merrill
      Lynch & Co., which will be used to fund the transaction, repay McMoRan's
      existing $100 million second tier term loan and provide liquidity
      for  working capital requirements.  The financing will
      include an $800 million secured revolving bank credit facility and an $800
      million interim bridge loan facility.  McMoRan expects to issue
      long-term notes and equity and equity-linked securities to replace the temporary
      bridge loan facility.
Item
      8.01
Other Events
McMoRan
      also announced in a conference call with securities analysts on June 21, 2007
      preliminary drilling results associated with its Flatrock exploratory well
      at
      South Marsh Island Block 212.   McMoRan indicated the well is
      drilling below 14,000 feet.  The well has encountered a resistive
      section indicating potential pay by log-while-drilling tools.  The
      well will continue drilling to 14,400 feet, the next casing point, and will
      be
      logged with wireline tools to evaluate this potentially productive
      zone.   Casing will be set over the zone before drilling deeper
      (the total planned depth for the well is 16,500 feet).
Item
      9.01
Financial Statements and Exhibits
(d)
Exhibits.
The
      Exhibits included as part of this Current Report are listed in the attached
      Exhibit Index.
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
McMoRan
      Exploration Co.
By:
      /s/
      Nancy D. Parmelee
----------------------------------------
Nancy
      D.
      Parmelee
Senior
      Vice President, Chief Financial Officer
and
      Secretary
(Principal
      Financial Officer)
Date:  June
      22, 2007
McMoRan
      Exploration Co.
Exhibit
      Index
Exhibit
      Number
99.1
Purchase
                and Sale Agreement dated June 20, 2007 by and between Newfield Exploration
                Company as Seller and McMoRan Oil & Gas LLC as Buyer effective July 1,
                2007.
99.2
Press
                Release dated June 21, 2007, titled "McMoRan Exploration Co. to Purchase
                Gulf of Mexico Shelf Properties from Newfield Exploration Company
                for $1.1
                Billion."
99.3
Slides
                presented in conjunction with McMoRan's conference call announcing its
                acquisition of Newfield's Gulf of Mexico shelf properties conducted via
                the internet on June 21, 2007.