Meridian Resource Makes New Discovery Turtle Shell Well

The Meridian Resource Corporation reports initial test results from its CL&F E-1 well on its Turtle Shell prospect in the Ramos Complex area. The well was drilled to approximately 16,500 feet measured depth ("MD") and logged apparent gas pay in four separate Cib Op sand intervals for a total of approximately 130 vertical feet of gross pay (50 feet net) in the formation. The well was tested in the Cib Op 3 sand interval between 14,300 feet and 14,384 feet MD up to a gross daily rate of 4 million cubic feet of gas before shutting the well in for tie-in to production and pipeline facilities. Flowing tubing pressure was measured at 1,900 psi and shut-in tubing pressure was measured at 4,900 psi. Electric logs in the deeper sections of the Cib Op 5B and Rob L formations did not indicate commercial quantities of hydrocarbons. The Company owns a 92% working interest in the well. Production from the well is expected to begin within the next four to six weeks.

Parker Drilling's inland barge 51-B was utilized for this well and has now been mobilized to drill the Avoca 4-1 well on the Company's Bayou Lawrence prospect located several miles to the northwest in the Ramos Complex area. The well is currently drilling at approximately 1,500 feet with a total measured depth of approximately 10,900 feet to test the Big Hum 1 and Big Hum 2 sands.

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