Thibodaux No. 2 Well Update

Business Wire, July 6, 1999

HOUSTON--(BUSINESS WIRE)--July 6, 1999--

The Meridian Resource Corporation (NYSE:TMR) reports that the fire at the Thibodaux No. 2 well near Amelia, La., has been extinguished. The well bridged over again this morning, cutting off substantially all the flow of escaping natural gas and putting out the fire.

Dredging around the well should be completed by Monday, then crews will start removing the fire-damaged drilling rig and other debris from around the well site. Assuming no new developments, well control specialists plan to cap the well within the next three weeks. The No. 1 well will resume production once the No. 2 well is capped.

The well control incident was successfully resolved without any injuries or impact on the environment. More than four thousand feet of boom were deployed to successfully prevent any pollution into the Gulf Intracoastal Waterway. Eleven families evacuated from Avoca Island plan to return home once the well is capped.

Meridian continues to staff a Claims Center at the Holiday Inn in Morgan City at 504/385-2200 extension 130 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, Texas and the stock is traded on the New York Stock Exchange under the symbol "TMR."