Offshore staff

HOUSTON -- McMoRan Exploration Co. has logged 189 ft (58 m) of net pay in five zones in the Rob-L section over a 364-ft (111-m) gross interval on the Flatrock prospect, according to the company.

The well was drilled to 16,500 ft (5,029 m) MD in 212 ft (65 m) of water and completion liner has been set. The company plans to deepen the well to 19,000 ft (5,791 m) to test the Operc section. McMoran also is permitting three offset locations to further test the area.

"We are extremely encouraged by these drilling results, which indicate a potential major discovery," says Jame R. Moffett and Richard C. Adkerson, McMoRan's co-chairmen.

"This is a large structure with significant additional development and exploration opportunities. It is a clear example of our deeper pool concept. Flatrock represents the deeper expression of the structural features of the Tiger Shoal field, which produced over 3 tcf of natural gas equivalents from multiple wells above 12,500 ft (3,810 m)."

Flatrock is in OCS block 310 in South Marsh Island block 212.

7/13/2007