Meridian Reports Lower Earnings

The Meridian Resource Corporation today announced its first quarter 2007 financial and operational results.

The Houston-based company announced that oil and gas revenues totaled $40.1 million for the quarter, this compares to $57.8 million for the first quarter of 2006. lease operating expenses for the quarter were $7.8 million compared to $4.6 million for the first quarter of 2006.

The company also reported net Income of $1.7 million and a discretionary cash flow of $25.1 million.

Meridian, an independent oil and natural gas company, maintains a Tulsa office at 1437 S. Boulder Ave.



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