Meridian Reveals Test Results from Biloxi Marshlands Well

The Meridian Resource Corporation announced initial test results from its Biloxi Marshlands No. 18-1 well on its Biloxi Marshland project area. The well was tested from the Cris "I" sand interval through 66 feet of perforations between 8,381 feet and 8,503 feet measured depth at a stabilized gross daily flow rate of 16.2 million cubic feet of gas per day. Flowing tubing pressure was measured at 2,508 psi and shut-in tubing pressure was measured at 3,171 psi. The Biloxi Marshlands No. 18-1 well is the fifth successful well in the Company's Biloxi Marshlands project area and the Company owns a 93% working interest in the well. Production from this well will require construction and installation of additional pipeline and production facilities, which the Company expects to have completed as early as November 2003.

The Company also reported that it has completed the acquisition of 187 square miles of proprietary 3-D seismic data adjacent to and southeast of the recently reported successful wells in the Biloxi Marshlands project area. It is anticipated that this new 3-D seismic data will form the basis of new projects in this area.

The Biloxi Marshlands project area targets the prolific Cris "I" sands which the Company believes have been under-drilled and under-exploited until recent discoveries in the area. Meridian has options and leases comprising approximately 200,000 acres in its Biloxi Marshland project area. The Company plans to continue shooting additional 3-D seismic surveys in the area covering all of its acreage plus approximately 200,000 additional acres of state water bottoms for an approximate total of up to 500 square miles of new proprietary 3-D seismic data.

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