Meridian Completes Initial Production Tests at Biloxi Well

The Meridian Resource Corporation announced initial test results from its Biloxi Marshlands No. 19-1 well on its Biloxi Marshlands project area. The well was tested from the Cris "I" sand interval through 18 feet of perforations between 10,330 feet and 10,386 feet measured depth at a stabilized gross daily flow rate of 9.1 million cubic feet of gas per day. Flowing tubing pressure was measured at 2,935 psi and shut-in tubing pressure was measured at 3,244 psi. The Biloxi Marshlands No. 19-1 well is the sixth successful well in the Company's Biloxi Marshlands project area and 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 May 2004.

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 Marshlands 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.

Meridian maintains its exploration and exploitation focus searching for new reserves in south Louisiana and the south Texas Gulf Coast region. The Company believes that its exploration strategy will result in plays similar to its Biloxi Marshlands project area and its Thornwell field in west Louisiana, both of which utilize 3-D seismic to identify potential hydrocarbon indicators for shallower, higher-confidence, multiple-well plays.