X0101 42003-06-01 0000064279 MCMORAN EXPLORATION CO /DE/ MMR 0001200693 RANKIN B M JR 1000Options (right to buy)12.712003-06-014A035000A2004-06-012013-06-01Common Stock35003500DOptions with limited stock appreciation rights25% exercisable on the date indicated and 25% exercisable on the next three anniversaries thereofMargaret F. Murphy, on behalf of B. M. Rankin, Jr. by power of atty.2003-06-02