Texas Meridian Resources Corporation Announces East Cameron Field Extension with Discovery of 1,100 BBL Per Day Producer
Houston, Texas - February 14, 1997 - Texas Meridian Resources
Corporation (TMR/AMEX) announced today that it has completed another
Henry well in its East Cameron Field in Cameron Parish, Louisiana.
The well, drilled in a newly productive fault block to a total
depth of 14,289 feet, encountered 87 feet of gross interval and
58 net feet of oil pay in the objective sand. Perforated below
13,200 feet, the well was immediately placed on production and
is flowing at a rate in excess of 1,100 barrels of oil per day
(BOPD) and 450 thousand cubic feet of gas per day (MCF/D) with
a flowing tubing pressure of 7,000 psi on an 8/64" choke. Total
field production has been boosted from approximately 1,600 BOPD
and 750 MCF/D to approximately 2,700 BOPD and 1,200 MCF/D of gas
from three wells. Based on geological mapping, it is estimated
that the areal extent of the new fault block is larger than the
original.
Other operations in the field include the Davis No. 26-1 well
which the company has recently drilled, logged and is preparing
for completion. The Davis well is east of the current production
and is in yet another separate fault block. The company anticipates
testing the Davis well within 30-45 days. At least three additional
wells are planned for the area following completion of the Davis
well and as soon as additional rigs are available.
The East Cameron Field is operated by Texas Meridian which holds
a 62% working interest. Other owners include H. L. Hawkins, Jr.
(25%), Optima Petroleum USA (8%) and private companies (5%).
Certain of the foregoing statements may be deemed "forward-looking
statements" within the meaning of the Securities Exchange Act
of 1934. Although the company believes that the expectations reflected
in such forward-looking statements are reasonable, it can give
no assurance that such expectations will prove to have been correct.
Certain risks and uncertainties inherent in the company's business
are set forth in the filings of the company with the Securities
and Exchange Commission.Texas Meridian Resources Corporation is
an independent oil and natural gas company whose primary focus
is on exploration of oil and natural gas reserves utilizing 3-D
seismic and Computer Aided Exploration Technology. The Company'
s office is located in Houston, Texas and its shares are traded
on the American Stock Exchange under the symbol "TMR".
FOR MORE INFORMATION CONTACT:
W. MATT RALLS,
JOSEPH A. REEVES, JR.
or
MICHAEL J. MAYELL
(713) 558-8080