869369--3/17/2008--MERIDIAN_RESOURCE

related topics

{gas, price, oil}

{debt, indebtedness, cash}

{loss, insurance, financial}

{acquisition, growth, future}

{cost, regulation, environmental}

{personnel, key, retain}

Our indebtedness may adversely affect operations and limit our growth. Borrowing limits under our credit facility are subject to redetermination. Our lenders impose restrictions on us that limit our ability to conduct business and could adversely affect operations. The oil and natural gas markets are volatile and expose us to financial risks. Our hedging transactions may not adequately prevent losses. Our reserve estimates may prove to be inaccurate and future net cash flows are uncertain. We depend on key personnel to execute our business plans. We compete against significant players in the oil and natural gas industry, and our failure in the long-term to complete future acquisitions successfully and generate commercial exploration and development drilling opportunities could reduce our earnings and cause revenues to decline. The oil and natural gas markets are heavily regulated. The nature of our operations exposes us to environmental liabilities. We require substantial capital requirements to finance our operations. Our operations entail inherent casualty risks for which we may not have adequate insurance. Our operations also entail significant operating risks. We may not be able to market effectively our oil and natural gas production. We are dependent on other operators who influence our productivity. Our working interest owners may face cash flow and liquidity concerns. Our exploratory drilling projects are based in part on seismic data, which is costly and cannot ensure the commercial success of the project. Our inability to acquire or integrate acquired companies or to develop new exploration prospects may inhibit our growth.

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869369--3/17/2008--MERIDIAN_RESOURCE_CORP