Meridian Successfully Tests 13th Biloxi Marshlands Well

Biloxi Marshlands/Weeks Island, Louisian
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The Meridian Resource Corporation announced successful test results on its Biloxi Marshlands ("BML") - BML No. 8-1 well on the Gorgon prospect. The BML No. 8-1 well represents the thirteenth successful well drilled since the Company began operations in the BML project area. Electric logs indicated approximately 48 feet of gross gas pay in the well. The BML No. 8-1 well was tested from the Cris "I" sand interval through 8 feet of perforations between 8,962 and 8,970 feet measured depth ("MD") at a stabilized gross daily flow rate of 8.5 million cubic feet ("Mmcf") of gas through a 20/64-inch choke. Flowing tubing pressure was measured at 3,038 psi with a shut-in tubing pressure of 3,740 psi. Pipeline tie-ins are under construction and the well is expected to be placed on production during September 2004 along with the previously announced BML 5/SL 17772 No. 1 well, which was tested last month at a rate of 8.5 Mmcf per day. The Company owns a 92% working interest in each of these wells.

In addition, the Company has completed drilling operations on the BML No. 7-1 ST #2 well in the BML project area. The well was drilled to a total measured depth of 10,900 feet. The well was completed and testing operations on the well are expected to be completed after the passage of hurricane Ivan, at which time the well will be placed on production.

The Company has suspended drilling operations in the BML project area and other affected areas, including the Weeks Island and North Turtle Bayou Fields, pending landfall of hurricane Ivan. The drilling rigs being utilized in the BML project area have been de-mobilized to safe harbor and, upon the passage of hurricane Ivan, the Company will resume drilling operations on the BML No. 19-2 and will commence operations on the BML No. 23-1. Saint Bernard Parish is expected to issue a mandatory evacuation order later today at which time the Company anticipates that it will protect its existing production by shutting-in its wells in the BML project area. The Company is continuing to monitor the movement of hurricane Ivan, and will take all necessary actions to insure the safety of its field personnel, third party vendors and field assets. Preparations have been made for operations to resume in the affected fields depending on the timing and location of hurricane Ivan as soon as it is safe to do so.

The Company was awarded successful bids on 18 tracts comprising 4,435 acres at the Louisiana State Lease Sale conducted during September 2004. The Company was uncontested and received successful bids on all of the tracts on which bids were submitted. This acreage, in part, will form the basis of the Company's near term drilling program in the BML project area.

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