The Meridian Resource Corporation Announces Production Test Results on Its WISU No. A-25 Well and Provides Operational Update.

Energy Editors/Business Editors

HOUSTON--(BUSINESS WIRE)--April 6, 2004

The Meridian Resource Corporation (NYSE:TMR) today announced initial test results from its Weeks Island Sand Unit No. A-25 well (the "WISU A-25"). The well was tested from the "O1" sand interval through an open hole gravel packed completion at a stabilized gross daily flow rate of approximately 900 barrels of oil per day and approximately 250 thousand cubic feet of gas per day. The WISU A-25 well was drilled to a total measured depth ("MD") of 11,599 feet (11,458 feet true vertical depth ("TVD")) and, based on electric logs, encountered apparent oil pay of 264 feet MD in the "M" and "O" sand intervals between depths of 10,662 feet MD (10,568 feet TVD) and 11,445 feet MD (11,312 feet TVD). The Company expects to resume drilling in the Weeks Island field within 45 days to drill one of several additional prospects scheduled for 2004. The Company owns a 92% working interest in the WISU A-25 well and is the operator of the field.

In the Company's Biloxi Marshlands ("BML") project area, drilling has been completed in the initial section of its Eros prospect well, the BML22/SL 17980 #1, with electric logs indicating apparent gas pay present in the well. Operations have been completed to set pipe over the pay section and the well is currently being drilled deeper to test additional prospective sands. Based on initial drilling results and its evaluation, the Company will move the current rig to an adjacent location to test two and possibly three additional prospect opportunities.

Also, in the Biloxi Marshlands project area, the Company has received permit approval for pipeline construction for its previously reported BML No. 19-1 and expects first production before the end of May 2004. The BML No. 19-1 well was recently tested at a gross stabilized flow rate of 9.1 million cubic feet of gas per day. Meridian owns a 92% working interest in the BML No. 19-1 well and pipeline. As previously reported, Meridian continues to develop its Biloxi Marshlands project area and expects to drill 15-20 wells during 2004. Future well sites are currently being permitted.

The Company continues to acquire additional 3-D seismic data in the field and has completed approximately 25% of its most recent 268 square mile 3-D survey at Biloxi. Final deliverables of the new data are expected during May 2004.

As of the end of the first quarter, 2004, the Company's long-term debt has been reduced by an additional $25.3 million. The reduction in long-term debt was comprised of $5.3 million of cash payments on the senior credit facility and the conversion of $20.0 million of the Company's 9 1/2 % Convertible Subordinated Notes at $5.00 per share, bringing the total outstanding senior and sub-debt position of the Company to $127 million, down from approximately $204 million at the end of calendar year 2002. As previously reported, Meridian has budgeted approximately $95 million in capital expenditures during 2004 and plans to continue to utilize excess cash flow to reduce debt and improve its balance sheet and liquidity.

In addition, during 2004 the holders of approximately 73,000 shares of the Company's convertible preferred stock have converted into common stock reducing the total outstanding value of the preferred shares to $53 million from a high of approximately $73 million during 2003.

Meridian maintains its exploration and exploitation focus searching for new reserves in the south Louisiana and south Texas Gulf Coast regions. 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.

Safe Harbor Statement and Disclaimer

Statements identified by the words "expects," "projects," "plans," and certain of the other foregoing statements may be deemed "forward-looking statements." 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; risks 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 filings with the Securities and Exchange Commission, including its reports on Form 10-K and Form 10-Q.

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 Louisiana, 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, Louisiana. Meridian stock is traded on the New York Stock Exchange under the symbol "TMR."