Meridian Tests 12th Successful Well at Biloxi Marshlands

Biloxi Marshlands/Weeks Island, Louisian
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The Meridian Resource Corporation announced successful test results on its Biloxi Marshlands ("BML") - BML 5 / SL 17772 No. 1 well on the East Atlas prospect. The BML 5 No. 1 well represents the twelfth successful well drilled since the Company began operations in the BML project area. The BML 5 No. 1 well was tested from the Cris "I" sand interval through 14 feet of perforations between 8,916 and 8,939 feet measured depth ("MD") at a stabilized gross daily flow rate of 8.5 million cubic feet ("Mmcf") of gas through a 22.5/64-inch choke. Flowing tubing pressure was measured at 3,008 psi with a shut-in tubing pressure of 3,813 psi. Pipeline tie-ins are under construction and the well is expected to be placed on production during September 2004. The Company owns a 92% working interest in the well.

The Company has mobilized the drilling rig from the BML 5 No. 1 location to the BML No. 8-1 location on its Gorgon prospect. The well has been spud and will be drilled to a total depth of approximately 9,300 feet MD. Drilling and completion operations on the BML No. 8-1 well are expected to take approximately 30 days. The Company holds a 92% working interest in this well also.

In addition, drilling operations continue on the BML No. 7-1 sidetrack, the Enterprise - Hosemann No. 1 and the North Turtle Bayou - CL & F No. A-2 wells. In the Weeks Island field, the Company expects to resume operations on the Goodrich-Cocke No.10 well on the Camille prospect within the next 10-15 days. Upon completion of operations on the Goodrich-Cocke No.10 well, it is anticipated that the rig will move to the Company's Biloxi Marshlands project area bringing the number of rigs drilling in this area to three by the fourth quarter.

Meridian continues to focus on its exploration and exploitation of the BML project area in addition to the development of its Weeks Island field and its other properties which comprise an asset base consisting of over 8,000 square miles of 3-D seismic data. The Company plans to increase its 2004 capital expenditures budget by approximately 15% from $95 million to as much as $110 million.

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