Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
REEVES JOSEPH A JR
2. Issuer Name and Ticker or Trading Symbol
MERIDIAN RESOURCE CORP [TMR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)

1401 ENCLAVE PARKWAY, SUITE 300
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2007
(Street)


HOUSTON, TX 77077
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 12/31/2007   I 6,472 A $ (1) 116,741 I 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Deferred Compensation Right to Receive Restricted Stock (2)   12/31/2007(2)   A(2) 261,572     (2)   (2) Common Stock
261,572
(2) 2,176,376
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
REEVES JOSEPH A JR
1401 ENCLAVE PARKWAY
SUITE 300
HOUSTON, TX 77077
  X     Chairman and CEO  

Signatures

/s/ Joseph A. Reeves, Jr. 02/14/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Acquisition under Company 401(k) plan at varying prices throughout the year.
(2) In July 1996, the Company through the Compensation Committee of the Board of Directors granted to Mr. Reeves rights to receive shares of the Company's Common Stock in the future in lieu of cash compensation pursuant to the Company's Long-Term Incentive Plan. Under such grants, Mr. Reeves elected to defer $400,000.00 of his compensation for 2007. The Company also granted to Mr. Reeves a 100% matching deferral, which is subject to a one-year vesting. Under the terms of the grants, the employee and matching deferrals are allocated to a Common Stock account in which units are credited to the account of Mr. Reeves based on the number of shares that could be purchased at the market price of the Common Stock at December 31, 2006 for the deferrals during the first half of 2007 and the market price at June 30, 2007 for deferrals during the second half of 2007. No actual shares of Common Stock are issued and the officer has no rights with respect to any shares unless there is a distribution. Distributions are to be made upon the death, retirement or termination of employment of the officer. The amounts reported on this Form 5 represent the rights allcoated to Mr. Reeve's account for deferrals of 2007 salary and the Company's related match of such amounts.

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