Meridian Reveals Production Results on Its BML No. 28-1 Well

The Meridian Resource Corporation announced initial test results from its Biloxi Marshlands No. 28-1 well on its Hornets Nest Prospect in the Biloxi Marshland ("BML") project area. The BML No. 28-1 well was drilled to approximately 11,300 feet measured depth ("MD") and logged gas pay in the Big Hum and apparent pay by log analysis in two separate Tex W sand intervals. The well was tested from the deeper Big Hum sand interval through 10 feet of perforations between 10,603 feet and 10,613 feet MD at a stabilized gross daily flow rate of 5.1 million cubic feet of gas, 85 barrels of condensate and 127 barrels of water. The water production appeared to be emulsion of the liquids produced and was declining upon termination of the testing operations. Flowing tubing pressure was measured at 3,550 psi and shut-in tubing pressure was measured at 4,320 psi. The Company owns a 92% working interest in the well. Production from this well will require construction of a pipeline and production facilities tie-ins, which the Company expects to have completed during January 2005.

This is the first of 7-9 wells expected to be drilling in this prospective area with the drilling rig that drilled the BML 28-1 well being mobilized to the second location in the Hornets Nest prospect. This second well, the State Lease No. 18041 well is currently drilling at approximately 3,200 feet MD and will be drilled to a total depth of approximately 11,750 feet. The Company owns a 92% working interest in the well.

The BML No. 7-4 well on the Dionysus prospect has also been drilled to its total depth of approximately 9,000 feet MD and is awaiting completion.

The rig utilized to drill the BML No. 7-4 well has been mobilized to the Lucille Prejean No. 1 well on the South Apollo prospect and will drill an 11,500 foot test well to test the Cris "I" sand interval. The rig is on location and is expected to spud within the next two days.

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 approximately 8,000 square miles of 3-D seismic data. For 2004, the Company's Board of Directors has authorized an increase in the Company's capital expenditure budget to $135 million.

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