Meridian Resource Reports Successful Results In Neuces Bay Well

Houston, TX - The Meridian Resource Corporation recently announced initial production test results on the BP America No. 1 well located in Nueces Bay, in San Patricio County, Texas. The well was drilled to a total depth of 13,000 feet measured depth ("MD") and logged prospective pay in the lower Frio sand section. The non-operated well was recently placed on production at a gross daily flow rate of 13.7 million cubic feet of gas ("Mmcf") and 1,300 barrels of oil (21.5 Mmcfe/d). The flowing tubing pressure of the well was measured at approximately 4,300 psi through a 26/64th-inch choke. The Company owns approximately 25% working interest (19% net) in the well.

The Company has entered into a contract for a rig to drill its ST 786 No. 12 well on its Indian Point prospect and is scheduled to arrive in December. This prospect is located in the Nueces Bay project area, immediately east of the above referenced well. The ST 786 No. 12 well will be drilled to approximately 14,500 feet MD and will also target lower Frio sands. Meridian has a 49% working interest in this prospect and is the operator. The BP America No. 1 well is from one segment of the south Texas Gulf Coast properties that were recently purchased from Vintage Petroleum LLC. In addition to the wells mentioned above, the Company anticipates drilling, and/or participating in at least three to four more wells in this region during the upcoming quarters.

SOURCE: The Meridian Resource Corporation