April 3, 2010 (FinancialWire) — The Meridian Resource Corp. (NYSE: TMR) has postponed its special meeting of shareholders regarding its proposed merger with Alta Mesa Holdings, LP to Tuesday, April 6, 2010, 10: 00 a.m., Central Time.

The meeting is being postponed in order to allow Meridian shareholders additional time to evaluate the proposed merger in light of additional information being released herein. The postponed meeting will be held at the offices of Fulbright & Jaworski L.L.P., Fulbright Tower, 1301 McKinney, Houston, Texas. The record date for shareholders entitled to vote at the meeting remains February 8, 2010.

Meridian also has been provided preliminary information regarding an Eagle Ford well drilled by a third party on acreage in Karnes County, Texas in which Meridian owns a 2% over-riding royalty interest. This information indicates that the well, which was first tested on March 10, 2010, has been testing continuously since March 14, 2010 on a 14/64th inch choke at a rate between 1,300 and 1,550 barrels of oil per day and about 1.2 million cubic feet of natural gas per day with initial flowing casing pressure of 5,250 pounds declining to 4,270 pounds as of March 26th. The oil has a gravity measured in the field between 46 and 49 API. The well was drilled to a measured depth of approximately 17,340 feet (about 11,900 feet TVD at end of lateral) with a horizontal lateral of about 5,000 feet in the Eagle Ford. The well was completed with a 15 stage fracture treatment. It is possible that, if this well is a successful discovery, subsequent development may occur in Meridian's Karnes County acreage. Based on the information received to date, Meridian cannot give any assurance regarding the significance of the well, its anticipated decline rate and associated future production, or what impact it may have on our future reserve values.

Meridian owns a 17% leasehold interest in this area (could be up to 25% depending on elections by other parties) in 12,695 undeveloped gross acres or 2,158 undeveloped net acres (could be up to 3,174 undeveloped net acres depending on elections by other parties). Meridian's 17% Working Interest in the acreage has a Net Revenue Interest (NRI) of approximately 15.1% before payout (or up to 21.5% NRI depending on elections by other parties) and approximately 11.1% NRI after payout (or up to 17.5% NRI depending on elections by other parties). There can be no assurances that there will be any future development of Meridian's acreage or that Meridian will have sufficient liquidity to drill or participate in future wells in this area.

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