The Meridian Resource Corporation Announces New Well At Weeks Island.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--July 30, 2001

The Meridian Resource Corporation ("Meridian") (NYSE:TMR) today announced that its Goodrich-Cocke No. 2 well in the Floyd Prospect at Weeks Island Field has been tested and placed on production.

Goodrich-Cocke No. 2 Adds to Daily Production Rates

The Goodrich-Cocke No. 2 well was drilled to a depth of 8,098 feet and encountered approximately 100 gross feet of oil pay (87 net feet) in the F sand at a depth of 7,902 feet. The well has been completed and tested at a gross daily flow rate of 1,099 barrels of oil per day (BOPD) plus 394 thousand cubic feet of gas per day (Mcf/d) on a 27/64th inch choke with a flowing tubing pressure (FTP) of 981 pounds per square inch (psi). Meridian drilled the well as operator and holds a working interest of approximately 72%.

Michael J. Mayell, president and chief operating officer, noted, "The excellent test rate and reserves attributable to this well substantially exceeded our expectations. This well is Meridian's eighth drilling success of the 13 wells evaluated so far in 2001, with eight additional wells currently in various stages of drilling, completion, or evaluation, including the Avoca 47-2 and Thibodaux 25-2 wells in the North Turtle Bayou area."

Certain of the foregoing statements may be deemed "forward-looking statements" within the meaning of the Securities Exchange Act of 1934. Although Meridian believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance, or delay the timing of sales or completion of drilling operations. Other risks exist with respect to oil and natural gas prices, a material decline in which could cause the company to delay or suspend planned drilling operations or reduce production levels, and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices.

These and other risks are described in the company's documents and reports that are available from the U.S. Securities and Exchange Commission, including the report filed on Form 10-K for the year ended Dec. 31, 2000, and the report filed on Form 10-Q for the quarter ended March 31, 2001.

The Meridian Resource Corporation is an independent oil and natural gas company engaged in the exploration for and development of oil and natural gas in south Louisiana, southeast Texas, and the Gulf of Mexico. Meridian has access to an extensive inventory of seismic data and, among independent producers, is a leader in using 3-D seismic technology to analyze prospects, define risk, and target high-potential wells for exploration and development. Meridian is headquartered in Houston, and has a field office in Weeks Island, La. Meridian stock is traded on the New York Stock Exchange under the symbol "TMR."