HOUSTON, Nov. 13, 2008 (GLOBE NEWSWIRE) -- The Meridian Resource Corporation (NYSE:TMR - News) today announced initial test results on its Weeks Bay No. 15 well, located in Iberia Parish in the Weeks Island field. The well was sidetracked and drilled to approximately 8,900 feet measured depth and logged approximately 43 feet of overall prospective oil pay in the Miocene sand section. The well was tested at a gross daily flow rate of up to 685 barrels of oil per day. Flowing tubing pressure was measured at approximately 1,175 psi through a 13/64th-inch choke. Production from the well will require construction of a pipeline and production facility tie-ins, which the Company is currently working on, and expects to have completed before the end of the year. Meridian owns approximately 92% working interest (80% net) in the Weeks Bay well.

Since being discovered in 1945 by Shell Oil, Weeks Island field has produced over one TCF of gas and over 310 million barrels of oil. In 1998, Meridian acquired the field and has drilled numerous successful wells and added over 70 Bcfe in reserves (net). With approximately 50 productive Pliocene and Miocene sands between 2,000 and 17,000 feet, Meridian believes a meaningful amount of additional reserves are still available for exploitation in this prolific field. The Weeks Bay No. 15 well is the latest example of a material package of exploitation projects in the Weeks Island field that the Company will continue to pursue. To that end, the Company recently re-entered and is sidetracking the Goodrich-Cocke No. 3 well. The well is targeting sands in the Miocene formation at a depth of approximately 7,500 feet. Meridian owns approximately 63% working interest in this well.

The Meridian Resource Corporation is an independent oil and natural gas company engaged in the exploration, exploitation, acquisition 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 and other technologies to analyze prospects, define risk, target and complete high-potential wells for exploration and development. Meridian is headquartered in Houston, Texas, and has a field office in Weeks Island, Louisiana. Meridian stock is traded on the New York Stock Exchange under the symbol ``TMR.''

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 documents and reports, available from the U.S. Securities and Exchange Commission, including the report filed on Form 10-K for the year ended December 31, 2007.

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          The Meridian Resource Corporation
          Lance L. Weaver
          (281) 597-7125
          lweaver@tmrx.com
          www.tmrc.com