FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number:  3235-0287 Expires:  January 31, 2005 Estimated average burden hours per response.........0.5
[   ]		Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
(Print or Type Responses)

1. Name and Address of Reporting Person*                   Bethea         Morrison          C.

2. Issuer Name and Ticker or Trading Symbol McMoRan Exploration Co. (MMR)

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

X

Director

10% Owner

Officer (give title below)

Other (specify below)

(Last)                    (First)                (Middle)   2633 Napolean Avenue, Suite 1001

3. I.R.S. Identification    Number of Reporting    Person, if an entity    (Voluntary)

4. Statement for     Month/Day/Year   06/01/02

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

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

X

Form filed by One Reporting Person

(Street) New Orleans           Louisiana       70115

Form filed by More than One Reporting Person

(City)                      (State)                  (Zip)

Table I ¾  Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security     (Instr. 3)

2. Trans-     action     Date   (Month/     Day/    Year)

2A. Deemed Execution Date, if any   (Month/     Day/    Year)

3. Trans-     action     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. Owner-     ship     Form:     Direct     (D) or     Indirect     (I)   (Instr. 4)

7. Nature of     Indirect     Beneficial     Owner-     ship    (Instr. 4)

Code

V

Amount

(A) or (D)

Price

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).
		Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	(Over) SEC 1474 (9-02)

FORM 4 (continued)

Table II ¾  Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative     Security     (Instr. 3)

2. Conver-     sion or     Exercise     Price of     Deri-     vative    Security

3. Trans-     action     Date (Month/  Day/ Year)

3A. Deemed Execution Date, if any   (Month/    Day/   Year)

4. Trans-     action     Code     (Instr.8)

5. Number of Deriv-     ative Securities Ac-     quired (A) or Dis-     posed of (D)     (Instr. 3, 4 and 5)

6. Date Exer-     cisable and     Expiration     Date     (Month/Day/     Year)

7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)

8. Price     of     Deriv-     ative     Secur-     ity     (Instr.     5)

9. Number    of deriv-    ative    Secur-    ities    Bene-    ficially    Owned    Follow-    ing    Reported    Trans-    action(s)    (Instr. 4)

10. Owner-      ship      Form of      Deri-      vative      Security:      Direct      (D) or      Indirect      (I)      (Instr. 4)

11. Nature      of      Indirect      Benefi-      cial      Owner-      ship      (Instr.       4)

Code

V

(A)

(D)

Date Exer- cisable

Expira- tion Date

Title

Amount or Number of Shares

Options(1) (right to buy)

$4.275

06/01/02

A

V

1,000

06/01/03(2)

06/01/12

Common Stock

1,000

None

1,000

D

Explanation of Responses:

1. Options with limited stock appreciation rights

2. 25% exercisable on the date indicated and 25% exercisable on the next three anniversaries thereof

		/s/Margaret F. Murphy	11/26//02
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations.	**Signature of Reporting Person Margaret F. Murphy, on behalf of Morrison C. Bethea	Date
	See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,          see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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