McMoRan Exploration (MMR) -13.2% after its Davy Jones update. MMR was forced to "move up the...

|About: McMoRan Exploration Co. (MMR)|By:, SA News Editor

McMoRan Exploration (MMR) -13.2% after its Davy Jones update. MMR was forced to "move up the hole" after a perforating gun malfunctioned, which Jefferies says, "highlights once again the engineering risks of the ultra-deep play." Firm adds: "We continue to see more attractive risk/reward elsewhere in our coverage universe."