Date: Wed, 19 Nov 1997 23:50:22 GMT Server: NCSA/1.5.2 Last-modified: Wed, 19 Nov 1997 16:55:08 GMT Content-type: text/html Content-length: 8113 Meridian Resource News

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Texas Meridian Resources Corporation Announces Status of Operations on its Deep Saline Prospect

Houston, Texas - January 14, 1997 - Texas Meridian Resources Corporation (TMR/AMEX) announced today that it has ceased operations on the LL&E Fee #1 "Deep Saline" well. TMR took over operations from Louisiana Land & Exploration Company (LLX/NYSE) on December 10, 1996 at a depth of 21,780 feet with the objective of deepening the well to the extent necessary to penetrate the original target horizon, the Duval sand. The Duval sand was encountered at 21,810 feet and contained more than 300 feet of gross sand interval. Initial logging results indicated the presence of hydrocarbons in the zone, but calculated porosities were insufficient to support a completion attempt without further information. When the Company attempted to run a Schlumberger formation testing tool to determine the productive capability of the Duval sand, the tool became stuck and the wireline conveying the tool parted. After extensive fishing operations, the tool and over two thousand feet of wireline were unable to be retrieved. Concurrent with fishing operations, the Company conducted further detailed analysis of the electric log data that, in the absence of data from the formation testing tool, did not support the conclusion that expected producing rates and reserve volumes would be adequate to justify the expense to complete the well. Accordingly, TMR's management recommended to its partners that the well be plugged and abandoned.

Texas Meridian Resources Corporation is an independent oil and natural gas company whose primary focus is on exploration and development of oil and natural gas properties utilizing 3D seismic and Computer Aided Exploration (CAEX) technology. The Company's office is located in Houston, Texas and its shares are traded on the American Stock Exchange under the symbol "TMR."


FOR MORE INFORMATION CONTACT:

W. MATT RALLS,
JOSEPH A. REEVES, JR.
or
MICHAEL J. MAYELL
(713) 558-8080