To: William JH who wrote (47236 ) 7/1/1999 6:38:00 PM From: Think4Yourself Respond to of 95453
TALK ABOUT GETTING LUCKY!!... Well Fire is Out HOUSTON--(BUSINESS WIRE)--July 1, 1999--The Meridian Resource Corporation (NYSE:TMR - news) reports that the fire at the Thibodaux No. 2 well near Amelia, La., is out. Company representatives at the scene report the well ''bridged over'' around 6 o'clock this morning, blocking substantially all the flow of natural gas. A small fire continues to burn debris and residual natural gas near the well. The small fire will be allowed to safely burn itself out. Height of the flames has been greatly reduced to less than 12 feet. ''Bridging over'' means that the underground formation collapsed into the well bore as a result of the high pressure and flow rate of escaping natural gas. This created a natural ''bridge'' which has temporarily blocked the gas flow. Meridian Chairman of the Board and Chief Executive Officer Joseph A. Reeves Jr. said, ''This is great news in that our well control specialists and firefighters on the scene can accelerate access to the well site by closer dredging and debris removal under safer conditions with much less heat and noise. Dredging operations may last another three or four days. Once debris removal and well inspection is complete, our team can determine the best and safest method for capping the well.'' Reeves stated, ''We're pleased that conditions are improving for Amelia-area residents and our environment, because noise, heat, and smoke from the fire has been dramatically reduced.'' As a safety precaution, 11 families were evacuated from Avoca Island by St. Mary Parish Emergency Preparedness officials last Friday night. All but four families have been allowed to return home, but have not yet done so. 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, Texas, and the stock is traded on the New York Stock Exchange under the symbol ''TMR.''