updated 5/10/2010 4:46:36 PM ET 2010-05-10T20:46:36

HOUSTON, May 10, 2010 (GLOBE NEWSWIRE) -- The Meridian Resource Corporation (NYSE:TMR) announced today the results of its special meeting of shareholders regarding its proposed merger with Alta Mesa Holdings, LP, which concluded earlier today.

At the meeting, a representative from American Stock Transfer & Trust served as the Inspector of Election and determined that of the outstanding total of 92,475,527 shares of common stock entitled to vote at the meeting, there were shareholders in person or represented by proxy holding at least 72,844,073 shares of Common Stock, which was in excess of a majority of the shares entitled to vote, and therefore was sufficient for a quorum and for transacting the business of the meeting.

The Inspector of Election also reported that with respect to the proposal to approve the adoption of the merger with Alta Mesa Holding, L.P., 62,511,358 shares of Common Stock were voted FOR, 9,875,801 shares of Common Stock were voted AGAINST, and 456,914 shares abstained from voting. The adoption of the merger proposal required a FOR vote of 2/3rds of the shares outstanding, or 61,650,351 shares. Consequently, the motion to adopt the merger agreement received the requisite 2/3rds approval of the Company's shareholders, the motion was passed, and the meeting was concluded. Meridian expects to close the transaction in the next few days.

Forward-Looking Statements

Statements identified by the words "expects," "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 regarding the transactions described that may cause actual future activities and results to be materially different from those suggested or described in this press release. Risks and uncertainties regarding the proposed merger with Alta Mesa Holdings, LP and the other transactions described include, but are not limited to, the possibility that the closing of the merger does not occur, either due to the failure of closing conditions, including the approval of the shareholders of Meridian, rights of the parties to terminate the merger agreement, or other reasons; risks that the merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the outcome of legal proceedings that have been, or may be, initiated against Meridian related to the merger and the amount of the costs, fees, expenses and charges related to the merger. Other risks relating to Meridian are described in Meridian's documents and reports, available from the U.S. Securities and Exchange Commission, including the report filed on Form 10-K, as amended, for the year ended December 31, 2009 and any updates to those factors set forth in our subsequent Quarterly Reports on Form 10-Q, including risks associated with our default under our credit facility and other lending arrangements.

About Meridian

The Meridian Resource Corporation is an independent oil and natural gas company that explores for, acquires and develops oil and natural gas properties. Through its wholly owned subsidiaries, Meridian holds interests primarily in the onshore oil and natural gas regions of south Louisiana and Texas and offshore in the Gulf of Mexico.

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GlobeNewswire, Inc.2010


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