SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BUSH A. PEYTON III

(Last)

(First)

(Middle)

1615 POYDRAS STREET

(Street)

NEW ORLEANS

70112

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MCMORAN EXPLORATION CO /DE/ [ MMR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2013

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/03/2013		D		8,500	D	⁽¹⁾	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options (Right to Buy)	$10.21	06/03/2013		D			5,000	⁽²⁾	06/08/2020	Common Stock	5,000	⁽³⁾	0	D
Options (Right to Buy)	$17.6	06/03/2013		D			10,000	⁽²⁾	06/01/2021	Common Stock	10,000	⁽³⁾	0	D
Options (Right to Buy)	$8.82	06/03/2013		D			10,000	⁽²⁾	06/01/2022	Common Stock	10,000	⁽³⁾	0	D

Explanation of Responses:

1. Each share of common stock was disposed of pursuant to the Agreement and Plan of Merger, by and among the Issuer, Freeport-McMoRan Copper & Gold Inc. ("FCX") and a wholly owned subsidiary of FCX (the "Merger Agreement") in exchange for the merger consideration consisting of $14.75 in cash, without interest, and 1.15 royalty trust units representing beneficial interests in Gulf Coast Ultra Deep Royalty Trust, on the effective date of the merger. Includes Common Stock Restricted Stock Units which vested in connection with the merger.

2. All options to purchase shares of Issuer common stock, to the extent unvested, became fully vested and exercisable upon the merger.

3. Each option was disposed of pursuant to the Merger Agreement in exchange for a number of options to purchase shares of FCX common stock equal to the number of Issuer options reflected in this line item, multiplied by the equity award exchange ratio of 0.5400, rounded down to the nearest whole share. The exercise price of the FCX options will be equal to the exercise price of the corresponding Issuer options, divided by the equity award exchange ratio, rounded up to the nearest whole cent.

	Kelly C. Simoneaux on behalf of A. Peyton Bush, III pursuant to a power of attorney	06/04/2013
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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