Meridian Resource Announces Thibodaux No. 2 Well Update

Business Wire, July 2, 1999

HOUSTON--(BUSINESS WIRE)--July 2, 1999--

The Meridian Resource Corporation (NYSE:TMR) reports that the fire at the Thibodaux No. 2 well near Amelia, La., has experienced intermittent periods of varying levels of flow as it attempts to "bridge" off naturally.

Well control specialists at the scene say the well became temporarily "unbridged" about 3 o'clock this morning, but has subsided as the well continues to bridge. Residual flames at the wellhead safely consumed all of the escaping natural gas and continue to do so. No gas vapors are escaping to the environment and no injuries occurred when the intermittent flow resumed.

The height of the flames at the wellhead will vary during this process, according to well control experts at the scene. This bridging activity typically occurs at this stage of a well control incident. Firefighting barges continue to spray 20,000 gallons per minute of water on the fire to cool the surrounding area and protect on-scene responders.

Meridian continues to staff a Claims Center at the Holiday Inn in Morgan City at 504/385-2200 extension 300 or toll-free at 888/897-6149 to assist evacuated residents and process any claims.

The Meridian Resource Corporation is an independent oil and natural gas company engaged in the exploration for and development of oil and natural gas properties utilizing 3-D seismic technology, primarily in south Louisiana, southeast Texas and offshore Gulf of Mexico. Meridian's office is located in Houston, and the stock is traded on the New York Stock Exchange under the symbol "TMR."