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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (175256)	12/27/2012 9:15:30 AM
From: CommanderCricket	Read Replies (2) \| Respond to of 206125

Surprised this hasn't been posted (MMR+) McMoRan Exploration updates Gulf of Mexico exploration activities McMoRan Exploration (MMR) updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico Shelf and onshore in the Gulf Coast area, including ongoing operations at Davy Jones No. 1, completion plans at Blackbeard West No. 2 and operations at Lineham Creek and Lomond North. McMoRan announced that operations to achieve commercial production at Davy Jones No. 1 on South Marsh Island Block 230 are ongoing. Recent operations designed to unblock the perforations using a propellant stimulation gun had limited success and McMoRan is initiating operations to re-perforate the well with electric wireline through-tubing guns. McMoRan will provide updates as flow testing operations progress. Davy Jones involves a large ultra-deep structure encompassing four OCS lease blocks. McMoRan is the operator and holds a 63.4% working interest and a 50.2%t net revenue interest in Davy Jones. Other working interest owners in Davy Jones include: Energy XXI (EXXI), JX Nippon Oil Exploration and Moncrief Offshore LLC. The Blackbeard West No. 2 ultra-deep exploration well on Ship Shoal Block 188 was drilled to a total depth of 25,584 feet and McMoRan plans to set a production liner, which would enable completion. Through logs and core data, McMoRan has identified three potential hydrocarbon bearing Miocene sand sections between approximately 20,800 and 24,000 feet. The Lineham Creek exploratory well, which is located onshore in Cameron Parish, Louisiana, has been drilled to 25,250 feet. The operator has set a drilling liner and is preparing to drill ahead to a proposed total depth of 29,000 feet to evaluate Eocene and Paleocene objectives.

To: Bearcatbob who wrote (175256)	12/27/2012 9:38:01 AM
From: isdsms	Respond to of 206125

CXO Good management and I see it as underpriced at this level.