McMoRan Exploration (MMR +4.8%) shares are strong today on no apparent news; MMR declared...

McMoRan Exploration (MMR +4.8%) shares are strong today on no apparent news; MMR declared quarterly cash dividends on its preferred stocks, but the common shares had surged well before the announcement.

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Comments (4)
  • dernpets
    , contributor
    Comments (21) | Send Message
    Anybody have any ideas why the stock has gone up??
    12 Oct 2012, 04:39 PM Reply Like
  • jlc816
    , contributor
    Comments (14) | Send Message
    Think the expectation is that the F/T on DJ1 is actually getting closer to being ready to test. No one, or almost no one, who has followed MMR is concerned about the success of the F/T. Just getting the well ready for it has been the problem. Actually a series of problems dating back to last Dec when the fist delay was announced on Dec 2nd. pushing back the original date for the F/T of Dec 15th. Since them it has been one problem after another. Most forget that MMR is attempting to do something never done before. And this well specifically in which the well bore at final depth 6 miles below the floor of the GOM is FOUR inches in diameter. Just imagine that and one can see why it has taken a while!!!! But word on the street otherwise known as "rig leakage" ( workers who see what is going on) have leaked news that the wait could well be over Soon. ER/CC is next week, the 19th and we will know much more. Check the yahoo message board for more information. It is a very good board with many knowledgeable people. Almost no spam or bashers. Just about 2 dozen regulars who know the O/G industry and the drilling industry and have been on board MMR for years.. Hope this helps a bit.
    13 Oct 2012, 02:47 AM Reply Like
  • dernpets
    , contributor
    Comments (21) | Send Message
    Thank you for the information
    13 Oct 2012, 08:39 PM Reply Like
  • User 449084
    , contributor
    Comment (1) | Send Message
    Pre earnings expectations ?
    13 Oct 2012, 02:50 AM Reply Like
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