The Meridian Resource Corporation (Meridian), incorporated in 1990, is an independent oil and natural gas company. The Company explores for, acquires and develops oil and natural gas properties. As of December 31, 2008, it had proved reserves of 80 billion cubic feet (Bcfe). Sixty-three percent of its proved reserves were natural gas and approximately 64% were classified as proved developed. It owns interests in 19 fields and 100 producing wells, and operated approximately 96% of its total production during the year ended December 31, 2008. The Company’s wholly owned subsidiary, TMR Drilling Corporation (TMRD), owns a rig which is used primarily to drill wells operated by the Company.