Anyone know why everyone seems to be selling?

Top % Gainers
# EPIC Name Price Chg %
1 BIT Bits Corp Ord 1p 9.25 1.5 19.35
2 MRP Meridian Pet. Ord 5p 28.5 4.0 16.33

17/12/04 12:23 Meridian Petroleum putting plans in place to produce from Sligo-Pettet reservoir

The chairman of the Company Don Caldwell (73)is held in high regard in US onshore oil and gas. He was a founder of Callon Petroleum a successful oil and gas company listed on the NYSE and has drilled over a 1,000 wells and has been responsible for a number of substantial oil discoveries in Michigan, Mississippi and Lousiana (which by no coincidence is where Meridians focus is). Don Caldwell is responsible for the sourcing of all their US assets. Tony Mason the chief executive is english ex Merril Lynch on wall street and has lived in NYC for 14 years. Alvin Hoskin is a world renowned geologist and is the acknowledged expert on Niagran reef plays in the Michigan area.

23.12.2004 oilbarrel.com
Meridian Studying Options For Calvin Production
Meridian Petroleum, the AIM-quoted exploration and development company which operates in the US and Australia, is still working on plans to produce from the Sligo-Pettet reservoir in the Calvin field in Louisiana. Work on the field had been delayed by downhole mechanical problems and the inevitable equipment shortages that are now a common feature of the booming North American resource market.

Meridian has commissioned a study to look at the best way of optimizing production flows from the well after a test of the upper zone of the Sligo-Pettet produced 0.175 million cubic feet of gas per day. However, salt water was found to have flowed into the well bore in the lower part of the reservoir. An independent engineering study suggests a horizontal completion across the zone could increase flow rates by up to 40 per cent and that an initial flow rate in excess of 0.6 million cubic feet per day may be possible. The Rodessa reservoir was found to be wet and unlikely to be commercially viable.

Meridians chief executive Tony Mason said he was content with the results from Calvins Sligo-Pettet reservoir. We are putting plans in place to produce from this important asset, said Mason. The potential from Sligo-Pettet will allow us to build on our active exploration programme.

The company hopes to get its Calvin reserves onstream shortly. With oil and gas prices in North America still riding high, any additional barrels that can be hooked up will quickly turn profitable for the London start-up, which raised 2.3 million when it listed on Londons Alternative Investment Market this summer.

Once onstream, the Calvin flows will complement Meridians existing production from the Emery Hudson well in Michigan.

The well, which is drilled into the Michigan Reef Trend, flows both gas and condensate at a rate of between 1.2 and 1.5 million cubic feet per day. Meridian hopes to beef up these numbers in January when it plans to perforate the upper zone of the well bore, which contains significant porosity, for 120 feet, of between 6 and 9 per cent.

Meridian also plans to sink another well on the 100 acre reef and is studying the 3D-data of the area to determine possible well locations. Meridian holds a 50 per cent working interest (38.25 per cent net revenue interest) in the Emery Hudson field.

Two thousand five is already shaping up to be a busy year for Meridian. Drilling operations at Brighton36 and Milford36 in Michigan and Middleton Creek in Mississippi are due to get underway in the second quarter. The company will be hoping the Michigan and Mississippi results in 2005 will eclipse the disappointment of the wells drilled at West Levees Creek in Mississippi and Lyon22 in Michigan, which failed to find commercial quantities of hydrocarbons.

Meridians strategy is to extract early cash flows from its portfolio of onshore properties in the US to fund potentially higher return exploration in Australia, where it holds interests in Victoria and South Australia. In October, the company increased its equity in PEL 82 to 100 per cent, in a move that Mason described as a real milestone for the company. This licence lies within the onshore Otway and Gippsland basins and is thought to hold 2P reserves of 125 billion cubic feet of gas, with the main prospect lying within 25 km of the Moomba to Adelaide pipeline, which connects into the populated markets of southeast Australia. Owning 100 per cent of the equity gives Meridian control of the pace and cost of the exploration and development programme.

Meridian hopes to make some real headway in Australia in 2005. The company is in the final stages of completing the native title clearance process and its lawyers believe this should be finalized in March 2005.

Buy Meridian Petroleum at 35.5p

Argues StewartDalby of Oilbarrel.com

In the UK they have become known as scavengers. These are mid tier and small oil companies which have picked up stranded acreage in the mature North Sea, which are too small for the majors like BP and Shell to bother with. They are " pools" of oil which can be anything from 1 million to 10 million barrels of oil or 25 billion cubic feet to 100 billion cubic feet of gas

Smaller companies, which do not have the overheads of the majors can often squeeze more product out of the fields and extend their lives by adding further bits of the jigsaw for consolidation. They are essentially plays on the good prices for oil and gas. Paladin and Venture Production are companies, which have done well of acquiring these North assets. Tullow and Dana are examples of explorers, which have backed into acquiring mature production for cash flow to fund exploration.

If you can do it in the UK you can certainly do in the US. More so in the sense that as the stranded fields are onshore they are cheaper to exploit. And if the assets happen to be, well ,gas, prices are sky high at the moment.

Meridian Petroleum, which has just successfully floated on London's Alternative Investment Market with its 30p shares going to a premium on day one and raising 2.3 million in the process, has assembled a portfolio of assets in three US states and also Australia. Meridian has targeted projects where oil or gas has been found before or is close to existing production. There is therefore low technical and reservoir risk.

There is low sovereign risk, that is, political risk, as the assets are not in Russia, say. There is clarity of taxation. The interests are close to gas pipelines and/or existing infrastructure.

In the US Meridian has acquired the Emery Hudson field in Michigan. Gross potential reserves and resources have been estimated at approximately 5.2 billion cubic feet of gas plus 67,600 barrels of condensate. A low cost re-entry into a Niagaran Reef previously drilled by Dominion Midwest, it flow tested at 22.8 million cubic feet of gas per day. Full production recovery rates are expected to be 4 million cfpd of gas and 52 barrels of condensate. First income started in June 2004.

Meridian has an interest in another field in Michigan, Brighton 36, a Niagaran Reef formation in a historically prolific and gas producing region area, with gross producing reserves and resources estimated at 1.3bcf gas and 526,000 barrels of condensate. In the Calvin Field Louisiana, there are stakes in two reservoirs, Sligo and Rodessa, both of which are simple shallow structures with in a producing area with extensive field history. Total potential reserves and resources are estimated at approximately 24.2 bcf and 12 bcf respectively with condensate of 980,000 and 180,000 barrels respectively. There are also interests in two fields in Mississippi, Levees Creek, an 'attic' oil p[prospect in a producing area with potential reserves and resources of approximately up to 834,000 barrels of oil in place and Middleton Creek, located to the east of the Wilcox trend in the highly productive deeper Tuscaloosa sands.

In Australia Meridian has acquired a 77 per cent interests in one Petroleum Exploration Licence (PEL) and four Petroleum Exploration Licence Applications (PELAs) in the Otway and Gippsland Basins. The areas involved cover 9 million acres and, although at an early stage could hold 125 bcf of gas just 25 kms from the Moomba to Adelaide pipeline and the populated markets of southeast Australia.

The US interests are more advanced. With Meridian's working interests (WI) ranging from 50 per cent to 82.5 per cent and net revenue interests (NRI) 38.5 per cent to 64 per cent, independent surveyors Scott Pickford have estimated proven and probable (P1+P2) working interest reserves of approximately 2.5 million of oil equivalent in the US. Scott Pickford have calculated a pre-tax, pre-overhead Net Present Value, discounted at 8 per cent of 18.7 million for Meridian's P1+P2 reserves before considering the upside potential of Australia.

A key point to note than on the day of Meridian' float, it also announced that the Emery Hudson Field is performing in line with expectations, that is it is producing around 4 million cubic feet of gas a day plus condensate. Tony Mason, Chief Executive of meridian tells us the company is achieving about US$ 6 a thousand cubic feet. This means free cash flow of between US$250,000 and US$300,000 a month. Since the field took a total of 291,000 to acquire and bring on stream, say US$600,000, then Meridian has a payback period of just two months on the field. It is also looking at cash flow of US$2 million by the end of the year. Meridian already is a nice cash flow, low cost, low risk venture. But that is not all there is. A 20 well programme starting in the second half of 2004. So there will be in all probability sufficient funds to develop the exploration upside in Australia as well as acquire more assets in the US and Canada.

Placing Price per Ordinary Share 30p
Number of OrdinarySharesplaced 6,003,100
Number of Ordinary Shares issued pursuant to exercise of warrants by RAB
Special SituationsLP 5,000,000
Total proceeds from the Placing and warrant exercise (before expenses) #2.3 million
Number of Ordinary Shares in issue immediately following Admission 56,003,100
Market capitalisation following the Placing at the Placing Price #16.8 million

Top % Gainers
# EPIC Name Price Chg %
1 TMC Toledo Mining Ord 0.1p 2.375 0.5 26.67
2 CLM Claims People Ord 1.5p 3.25 0.625 23.81
3 MRP Meridian Pet. Ord 5p 28.5 4.0 16.33

Meridians chief executive Tony Mason said he was content with the results from Calvins Sligo-Pettet reservoir. We are putting plans in place to produce from this important asset, said Mason. The potential from Sligo-Pettet will allow us to build on our active exploration programme.

The company hopes to get its Calvin reserves onstream shortly. With oil and gas prices in North America still riding high, any additional barrels that can be hooked up will quickly turn profitable for the London start-up, which raised 2.3 million when it listed on Londons Alternative Investment Market this summer.

Once onstream, the Calvin flows will complement Meridians existing production from the Emery Hudson well in Michigan.

Top % Gainers
# EPIC Name Price Chg %
1 TMC Toledo Mining Ord 0.1p 2.375 0.5 26.67
2 CLM Claims People Ord 1.5p 3.25 0.625 23.81
3 MRP Meridian Pet. Ord 5p 29.0 4.5 18.37

Top % Gainers
# EPIC Name Price Chg %
1 MRP Meridian Pet. Ord 5p 32.0 7.5 30.61

Top % Gainers
# EPIC Name Price Chg %
1 MRP Meridian Pet. Ord 5p 32.5 8.0 32.65

News out monday... I reckon its to do with revaluation,.. could see this hitting 60p

RAB must be nearly out

Why would RAB want out if good news due monday?
Can you confirm your source

just got this email from MRP

My view is that the small amounts of stock they are taking off the table should be no real concern to a longer term shareholder. They have been in the stock for a while and most institutions want to utilize liquidity in a market when they are able. In other words they tend to sell in a rising market. The bottom line is that they are only taking a small portion of their holdings out of the game, so we should not be concerned. There is plenty of good news to come and beyond significant upside, therefore I would not be surprised to see them come back into the stock again later this year.

Anthony J. Mason,

MRP isn't the only one that RAB has been selling :African Copper says RAB Capital cuts stake in co to 11.88 pct vs 12.85 on Jan 27
AFX

news out tomorrow... and going by the email i got yesterday its good news ;-)

will hold you to that ph.

ph- can't see any news have i missed it?.

Erm , nope - I can't either...

picking up looks encouraging!

Since 10am the buys have been going mad and then came the news at 1030 and now it's mental !

rns from today,IMO pile in now!!
Dexter
++++++++++++++++++++++++++++++++++

Meridian Petroleum PLC
03 February 2006

03 February 2006



MERIDIAN PETROLEUM PLC

('Meridian' or 'the Company')



CALVIN drilling update







Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, announced on 24 January that its Calvin 36-1 well on the Calvin
Field, Winn Parish Louisiana (80% WI), had encountered a substantial gas show in
the Sligo Petit Zone. The well was flowed on a limited open hole test with a
25/64 inch choke in excess of 1mmcfpd.



Based upon the analysis of previous production data from the Sligo Petit Zone,
the Company anticipates the following break down of the gas and condensate mix -
Carbon Dioxide 3.14% to 11.66%, Nitrogen 3.75% to 5.28%, Methane 76.97% to
83.11% and Propane 0.95% to 2.36%.



Due to the default and non consent of the original owner of the Calvin lease,
Meridian's Net Revenue Interest will increase to 67.75% from 60% until a
significant financial penalty is paid through the increased production revenue.



Meridian is moving ahead as quickly as possible to complete the well and
commence production into the nearby pipeline.





Anthony Mason, Chief Executive of Meridian said:



'We are very pleased with the likely rich condensate content of the Calvin well
which will enhance our revenue from the field. While unfortunate, the previous
lease owners default increases Meridian's revenue share enabling costs to be
recovered more quickly.'







Enquiries:

COME ON WE CAN DO BETTER THAN THIS! MKT CAP 9M DON'T MAKE ME LAUGH.

here, here lizard!, this m. cap should be at least 3x this IMO
Dexter

anything in sat media for mrp?.

with the rising gas prices i would expect mrp are keen to get on line asap.
why is the sp under 20p. floated at 50+p now after recent news are valued less now than then. surely now in its best position yet?>

with RAB out, this looks ready to blow... 40-50p expected this week

there will be a write up in share magazine aparently... so we better tell money am to write it up ;-)

hope so katcenka- this has potential to hit these levels but 'this week'?.

Ok , so please explain this to me , RAB selling their stake in MRP , why is this good news ? Sorry if this sounds like such an elementry question ! Also I think MRP was originally list on AIM around 30p.

so what if rab reduced there holding... they now hold less than 3% as from today.

it gives more liqiudity to the stock, if they had held on then the share could of gone rediculously to high, there a lot of PI's in this now, take a look at the number of shares bought and sold... pretty much a straight book, no overhang, its clear these are going to now only go up, the gas discovery is larger than first thought according to the company and a revaluation on calvin will be out very soon. this will push the share price well above 30p, there is further news on aqiusitions coming also, and if you speak to the chairman he will tell you there is a lot more good news to come..

personally I think you should do your own research, cause your making me do the work for you and you will only slag off what I say.

but according to some on ad v fn there is going to be some big write ups on this company this week... they could be wrong, but I think they may be right

I think you got me wrong , It was a genuine question about RAB and the affect on the share price . I don't know enough about this game to slag off anything you say.

espaceman, r u a Renault fan? :-))

Yeah how did you guess ?!!

Me too! 4th one, kids up & gone but i've got used to it.

It's my first one , my kids are only 4 and one and a half -2.2dci Grand espace new shape , I think it's a great car, so comfortable and it can go a bit.I drive to South of France and Turin a lot , the motorway is where it's best.

Subject: RE: Progress
From: "Tony Mason" Add to Address Book
To: XXXXXX
Date: Tue, 7 Feb 2006 14:21:21 -0600

Dear Sir,
It is disappointing that these Institutions have decided to sell as I was under the impression that that had ceased. However, these funds have their agendas and exit strategies and it is my belief that they may be investors again when it is realised the true value of the company and that matters are clearly progressing to our business plan. There is no sinister reason I can assure you and we have no plans at this stage for a rights issue that you allude to. As for an update on operations; you are correct in your assumption and there will be a news release when we are able to. I anticipate that this will be in the very near future.
I regard this investment as a medium term buy and hold.

Regards,



Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641

you get the feeling the mkt is waiting in anticipation of news. something is holding it back though?.

mm come on you can't hold it back forever!.

news out 2pm?

is this a leak ;-)

What amazes me is that the sp is still down today despite the buys out weighing the sells 8-1 .

obviously not ph!. don't talk crap.

Lizard , I think Ph's message is a really old one !

Lizard , I think Ph's message is a really old one !

i think the trades at 16.24 couyld be buys.

To think I sold my VOG's for MRP , the next day VOG went up by 60% I'm still mentally affected by what happened , MRP does little to heal my wound what with a .78 % gain all day ....

dont worry MRP will go up 600%

Nice email... hope the FSA dont cotten on

Subject: RE: Progress
From: "Tony Mason" Add to Address Book
To: XXXXXX
Date: Tue, 7 Feb 2006 14:21:21 -0600

Dear Sir,
It is disappointing that these Institutions have decided to sell as I was under the impression that that had ceased. However, these funds have their agendas and exit strategies and it is my belief that they may be investors again when it is realised the true value of the company and that matters are clearly progressing to our business plan. There is no sinister reason I can assure you and we have no plans at this stage for a rights issue that you allude to. As for an update on operations; you are correct in your assumption and there will be a news release when we are able to. I anticipate that this will be in the very near future.
I regard this investment as a medium term buy and hold.

Regards,



Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641

Re; progress.

Looks like the mkt doesn't think we have progressed that much. i know we have had a decent rise recently but a mkt cap of 10m are they joking.

The progress with this sp is very slllooooooooow.

news out tomorrow

How do you know spud head?

yes I belive you, news out tomorrow, probably in the IC mag

There is nothing about MRP IN IC, they haven't written about mrp since September 2005...

absolute rubbish whoever said that is giving false information-

Besides , MRP would hardly use IC to make an annoucement or an update , it's like being on Fantasy Island here sometimes...

apparently Tony Mason is at the calvin site... could it be he is there to oversee it coming online, tomorrow could be a very big day for us

He can't be in Calvin , because he is here with me drinking champagne.....

espaceman- well tell him to hurry up with an rns then!

ph- full of c**p!.

Yep I agree , Lizard !

itsinthebag - 14 Feb'06 - 11:07 - 8173 of 8186


This was forwarded to me this morning from 'kulecat' on iii board. I hope he won't mind me posting it here.


Subject: RE: Operations Update
From: "Tony Mason" Add to Address Book
To:
Date: Mon, 13 Feb 2006 11:22:35 -0600

Dear Sir,
I can assure you that the company is moving as rapidly as it possibly can. There will be a further update in the next few days. We will be in a position to announce once certain things are completed in the USA.

It is my belief that the institutions in question have in fact ceased selling. Please be assured that we have good support from these and other institutions and in fact some may even be adding to their positions. Some consider RAB Capital to be a hedge fund and are cautious in interpreting their trades in various equities.

Regards,
Tony Mason.

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641


--------------------------------------------------------------------------------
From:
Sent: Mon 2/13/2006 11:15
To: Tony Mason
Subject: Operations Update


Dear Sir

As an investor and supporter of the company, I am rather perturbed by the daily large institutional selling. We are in need of an operations update as the markey has been spooked by these sells and would like some reassurance that we are on track.

Regards

On a nice little run , due to the news.

Meridian Petroleum PLC
14 February 2006


14 February 2006


MERIDIAN PETROLEUM PLC
('Meridian' or 'the Company')

ORION LEASE SIGNED


Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, today announces that it has signed a lease on the Orion field
(100% Working Interest) located in Oakland County, Michigan.

Based on data from earlier wells, the lease contains a proven and probable shut
in reserve of 3 BCF of gas in place with approximately 2.7 BCF recoverable.
The gas content is pipeline quality after treatment and also contains
condensate.

The Niagaran reef was previously drilled in the late 1980's and early 1990's but
was shut in due to hydrogen sulphide emissions and the absence of appropriate
treatment technologies. Meridian's proposed use of 'sulphur treat' towers, a
technology now widely used for this type of gas treatment has been accepted by
the Michigan Department of Environmental Quality (DEQ).

Flow rates on the previous wells averaged between 2 to 4 mmcf per day plus
condensate and Meridian anticipates achieving similar flow rates from its
proposed new well location. The bottom hole location of the new well will remain
the same as the previous wells but will be accessed from the surface via a
directional drilling leg.

The proposed new well location is on a partially used asphalt pit adjacent to a
major gas pipeline.



Anthony Mason, Chief Executive of Meridian said:

'We are delighted to have signed up this significant shut in gas reserve in
Michigan State. Subject to permitting and equipment availability, we expect to
begin drilling operations early in the second quarter of this year.'



Enquiries:

Meridian Petroleum (020 7409 5041)
Tony Mason, Chief Executive

Westhouse Securities (020 7601 6100)
Richard Morrison

so happy to be in sub 16p lets keep this little gem quiet

news out this afternoon again, get in quick

Looking good today Spudhead

Tue, 14th Feb 2006, 17:05

--------------------------------------------------------------------------------
Shares in Meridian Petroleum jumped after the oil and gas company signed a lease on the Orion field located in Oakland County Michigan.

The group said based on data from earlier wells, the lease contains a proven and probable shut in reserve of 3 BCF of gas in place with approximately 2.7 BCF recoverable.

"Flow rates on the previous wells averaged between 2 to 4 mmcf per day plus condensate and Meridian anticipates achieving similar flow rates from its proposed new well location," added the group.

Spudhead, your last post was old news, will there be another further RNS?

the way the buys are going through it seems if news is not far off.

Spudhead is famous for saying "news out soon" he doesn't really know...

it brightens my afternoons up waiting for spuddies newsflashes....!!

news of tomorrow, keep your eyes peeled ;-)

institutional buyers ... looks good

LOOKS LIKE A PLACING IS TAKING PLACE, ORDERS ARE BEING FILLED.. COULD SEE A PRICE ON OFFER OF 16p

VERY NICE

what if your short!.

a d v f n rumour of milford not being as good as MRP first thought...

could be some bad news on the way

it was a sick joke

The thing is Spudhead , no one takes you seriously - whatever you say !

what makes you think theres bad news coming spuddy ??

gingermagician - 16 Feb'06 - 14:30 - 9038 of 9039


Received this just now.


From:Tony Mason Add contactSent: 07:42
To:X
Subject:Rumours quick replysend

There are no issues with Milford. Historically, the isuue has been merely getting equipment and personnel together. The short term near production assets are moving along well and overall we are executing upon our business plan. It would seem they are once again speculating without any foundation for that speculation.

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641

calvin due to come online - 23/02/2006
victory 21 drilling due and to come online 27/02/2006
milford solution found 15/03/2006
alot more to happen in merdian this year - dont know what your talking about here
NEW APPRAISEL OF ASSETS DUE WHICH MEANS NEW VALUATION 17/02/2006

Thats better news,guess spuds arn't that bad after all...

we will see if sources are correct and mrp double page article are in ic tomorrow?.

i am typing it up just now for you ;-)

still waiting ph!.

crossing fingers tomorrow is rns for

WE ARE ONLINE ;-)

There's nothing in IC about MRP , it's all fantasy - fantasy in Spudhead , head - pure fantasy ...

will this do then

From : oilbarrel.com

17.02.2006
Meridian Petroleum Plans Kitty Litter Solution To Bring Sour Gas Project In Michigan Onstream
Meridian Petroleum has added another 3 billion cubic feet of proved and probable reserves to its portfolio with the addition of the Orion sour gas field in Michigan in the US. The field is home to two wells that were drilled and produced at rates of between 2 and 4 million cubic feet per day during the late 1980s and early 1990s but were then shut-in because of the hydrogen sulphide content of the gas.

AIM-quoted Meridian has submitted a plan to the Michigan Department of Environment to get this gas deposit back into production. The plan, which has been accepted by the DoE, involves a single well and two sulphur treat towers, a facility that is expected to cost between US$1.25 and US$1.5 million.

This is not a huge amount of money given the size of the reserve, the fact its onshore and these are 2P reserves, chief executive Tony Mason told oilbarrel.com.

The sulphur treat towers, about 15 to 20 ft high, are filled with kitty litter type material, which extracts the unwanted gas so that clean gas flows into the pipeline. The end product is biodegradable. This is a neat solution, helped along by the fact the planned well site lies in old industrial ground next door to a major gas line. The project economics are also enhanced by reasonably rich condensate content of the gas, said Mason.

The company doesnt plan to re-enter the existing wells because their position is unsuitable for the sulphur treatment facility and the holes are of uncertain quality. The new well, which the company plans to drill in the second quarter when Michigan begins to thaw, will be directionally drilled, putting the well cost at around $500,000-$600,000. This is by no means a company-making project - Meridian expects the sustained flow rate to come in between 2-4 million cf/d like the previous wells - but it does add further near-term production to the companys portfolio.

The company has a number of these near-term production projects in the pipeline (and, unusually amongst its AIM peers, already enjoys production from its Emery Hudson property in Michigan). These include the Milford 36 project in Michigan, where the company is awaiting the arrival of sophisticated perforation equipment that it has used so successfully on the Calvin field, in order to bring this project to fruition.

The Calvin field is the current star performer in the portfolio, following the recent success of the 36-1 well, which flowed more than 1 million cf/d of condensate-rich gas from the Sligo Petit zone. Meridian hopes to get the field onstream shortly and then plans to re-enter an old well, 35-1, to target the Rodessa zone. It is also eying previously undrilled deeper zones on the field as well as seeking to add to its position in the Calvin area.

This is proving to be an interesting project and one that is back on track after the frustrating delays of last year. Meridian was not alone in being at the wrong end of the inevitable equipment shortages that are now a common feature of the booming North American market, particularly in the Gulf area, but investors proved impatient and unforgiving. 2005 was, admits Mason, a horrible year from that point of view.

The company isnt a one-country play. It is also active in South Australia, where it is keen to get to grips with the Dolores prospect in the Arrowie Basin once native title has been confirmed. The company has a 100 per cent working interest in the prospect, which is reckoned to hold around 125 bcf of gas and lies just 25 km from the existing Moomba-Adelaide gas line.

Meridian has reprocessed all the original stack data and old seismic lines and hopes to complete its analysis of the original seismic field tapes by mid-March.

Weve had an additional slew of data from the government in Australia, which has been really helpful, said Mason. What we are seeing looks like a pretty significant reservoir although were not sure how we handle it commercially.

It all adds up to an interesting low-to-medium risk exploration portfolio, with plenty of near-term production in train to make sure growth is underpinned by cashflows: sensible and boring in Masons words but one for those who dont have the appetite for the white-knuckle ride offered by some of AIMs wildcatting E&P stocks.

It's a good insight to the company , but its hardly breaking news.

moaning mini

by the way check out the TFC BB

The what ?

on the way up, news coming ??

Post from kulecat on iii yesterday evening:

17:59 Spoke to CEO.. kulecat

.... will be in the office for the next couple of hours should anyone want to phone him (US). As far as he is concerned, evreything is going according to the business plan. The guys on the ground are working very hard. As far as Milford goes, there is no problem. They have been waiting for some equipment for the last couple of days from another State and it will arrive anytime. They are using the same company they used with Calvin and they did 'a great job.' On target to get Calvin on line. Should get some news on Victory soon. Discussed the rumours regarding placing. He has been harrassed all day about this. Apparently some prat started the rumour today. It is wholly untrue. Any fundraising will be for phase 2 of the business plan, will be after the near production assets have been brought online, and will involve their institutional holders only. Said last year was a frustrating year, 2006 is going very smoothly. Very approachable guy - well worth the phone call.

20p please- for starters.

up 4%, news must be on the way.. its looking fantastic, look at the chart

BUY BUY BUY UP 6% news on the way

yes!!! up again 25p today i reckon

dream on ph lets start with 20p which not likely at the moment going the other way now

news out this afternoon, mm's have got wind of it

I am sure of it

something to look foward to (again !!)

well at least its looking good , and I'm making money now !!!

who said 25p is rediculous, I am thank 40p by close

jeepers ph your usual crap could be right.

It's going mental !!!

news at 3pm
revaluation of assets

30p maybe a low estimate, i may overtake what I first thought

lizard, I accept your appology

so you in... if not hurry cause its going to 30p very soon

i just bought in last time had these lost a packet when danby dome bombed.reading news seems like they done better this time.

more than better.. better than expected... ;-)

I have a feeling MRP have peaked for today - of course I hope I'm wrong.

i'M GLAD TO SAY i WAS VERY WRONG !

news out in 15 mins.... (?!)

heard that one before!

11 mins and lift off

mm's out of stock ;-)

looks like its mashed potatoe again.... :-)

Meridian Petroleum PLC
17 February 2006

17 February 2006




MERIDIAN PETROLEUM PLC
('Meridian' or 'the Company')


Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, has noted today's speculation and rise in the price of the
Company's ordinary shares. The Company wishes to confirm that a placing of
ordinary shares at 14p per share, to raise approximately 1 million, is in
process and is expected to be completed shortly.


The Company knows of no other reason for this speculation or rise in its share
price.


Enquiries:


Citigate Dewe Rogerson (020 7638 9571)
Media enquiries: Martin Jackson / George Cazenove
Analyst enquiries: Nina Soon






This information is provided by RNS
The company news service from the London Stock Exchange

oh dear that will put a damper on the price next week,mm haVe already droped the bid to make more from sellers.but i do think should see oVer 30p when gas is in pipeline.

they haven't dropped the price on advfn 23.5p. this is good news found an opportunity raised funds to develop- common practice. chp placing today up20%- vog also another placing at around 80p now at 250p.

the city thinks this is good news why else did we rally 30+%?.

bring on next week.

what do we reckon for next week?

Hard to say Lizard , perhaps some profit taking on Monday ? There is more news to come though on production update etc , so hopefully the general trend will be up ?!

i reckon profit taking early on espaceman and perhaps a bounce. usually see some decline after a big rise. but saying that we could go north now placing done.

if it drops by a lot want to buy in again. if not i will think about buying into rally.

your taking the piss, yer some poor fools may sell and they will watch it just keep climbing, revaluation is due.. calvin will be online very soon

I reckon 60% up tomorrow, institutions will want these big time

I wouldn't say no to 60% , I'm 30% up already but I won't hold my breath for the %60 , I am prepared to be patient with these ones. I've learnt my lesson , I sold VOG , and the next day they went up%60 , I still made a profit but nowhere near as much.

I think 30 p is deffo attainable in the very short term.

will this do

Nah sorry , a bit big for my garden .

med long term view on mrp- won't get in watching every tick up tick down while mm play games long term potential still remians and in a review of prospects/assets vastly undervalued.

australia project seems very interesting.amongst others.

I agree...this is a medium - long term buy...good value

well blue by the end of the day.

ps 600p rumoured broker note coming out on EME!!

this is exactly my point- if i had watched this am i may have sold keep a long term view on this one. off to watch goo.

5.6 million trades already , whats going on then ?

looking ok espaceman as is gold oil goo!

yeah I know , I had a look at goo the other day and it was 5.88 .

my god!! never seen buying of a stock like this,we'll be 30+ e.o.d

wait until it gets revalued!.

exactly, 2 on the cards i reckon

it is a bit cheap when you compare to others and read the oilbarrel article i suppose

Yesterday I said 30p was attainable in the short term , I didn't mean the next day !

news out this PM... looks damned good

a last minute rally to 30p !! lol

20 February 2006




MERIDIAN PETROLEUM PLC
("Meridian" or "the Company")

RAISES 1M IN PLACING OF NEW SHARES


Meridian, the oil & gas exploration and production company with key assets in
the USA and Australia, following the announcement on 17 February, today
announces the successful completion of an institutional placing of new Ordinary
Shares in the Company.

Westhouse Securities LLP has placed 7,171,426 new Ordinary Shares at a price of
14p per new Ordinary Share with institutional investors, raising approximately
1.0 million before costs.

The funds raised will be used to acquire additional properties and to complete
the work programme on Orion and Calvin, as well as other existing properties.

Application will be made for the new Ordinary Shares to be admitted to AIM and
dealings are expected to commence on 27 February 2006. Following the placing,
the number of Ordinary Shares in issue will be 71,264,619.



Tony Mason, Chief Executive of Meridian Petroleum, said:

"I am delighted with the success of the placing and the continued support of our
shareholders. The funds raised will enable us to complete a number of near term
projects, including our recent substantial gas show on the Calvin Field,
generating significant additional revenue and cashflow."



Enquiries

Meridian Petroleum (020 7409 5041)
Tony Mason, Chief Executive


Westhouse Securities LLP (020 7601 6100)
Bill Staple
Richard Morrison



Citigate Dewe Rogerson (020 7638 9571)
Media enquiries: Martin Jackson / George Cazenove
Analyst enquiries: Nina Soon




This information is provided by RNS
The company news service from the London Stock

damned good news

does anyone have more info on australia project. this could be large.

good news -35p soon.

Hey Lizard , have you got the Spudhead crystal ball ?!!

i don't believe i am in the same league as spudhead as far as talking crap goes.

Wow. Skyrockets goin off all over the resources sector. I'm not actually onboard this one, hanging on to some others tho!
Good luck to all who have these.

What else you got beasties ?

beasties- do you have goo?.

Pretty much everything else; VOG CHP JKX EME UEN AIMR APP CEY CSH EDR FOGL FQM GFM GOO JKX KMR SBE TAG TNZ UEN. And that's just the stocks that are currently goin mental. Got a lot more that might do the same in the future.
Owt to do wid resources really. Timing of buys correctly is the really tricky bit!!

NEWS OUT VERY VERY SOON... SOONER THAN YOU THINK.. SO SOON IN FACT I AM LOOKING AT MY WATCH RIGHT NOW

i can't wait..... :+)

i can't wait..... :+)

Raises 1M in Placing of New Shares


Meridian, the oil & gas exploration and production company with key assets in
the USA and Australia, following the announcement on 17 February, today
announces the successful completion of an institutional placing of new Ordinary
Shares in the Company.

Westhouse Securities LLP has placed 7,171,426 new Ordinary Shares at a price of
14p per new Ordinary Share with institutional investors, raising approximately
1.0 million before costs.

The funds raised will be used to acquire additional properties and to complete
the work programme on Orion and Calvin, as well as other existing properties.

Application will be made for the new Ordinary Shares to be admitted to AIM and
dealings are expected to commence on 27 February 2006. Following the placing,
the number of Ordinary Shares in issue will be 71,264,619.

Tony Mason, Chief Executive of Meridian Petroleum, said:

'I am delighted with the success of the placing and the continued support of our
shareholders. The funds raised will enable us to complete a number of near term
projects, including our recent substantial gas show on the Calvin Field,
generating significant additional revenue and cashflow.'

We've all seen this so many times . why does it keep getting posted on here ?

spudhead - no news today then, price dropped all day

well its up aint it ;-), hey master, when you going back into TFC mate, you r thread is still going over at a d v f n

are we day traders or serious investors - long term mrp is what i bought into.

an institution is dumping at the moment, we are going through the RAB effect again, there is another talk of another placing of shares, hey I dont mind, if we keep getting good news, suprised we didnt get the news today, maybe its being held back for the morning, or maybe the goods didnt arrive on time, but it must be there now, so I am expecting this news to come out ;-)

onwards and upwards as they say. the company is very undervalued for a company that has found gas and is very soon to be producing, licence to start pumping must be days away now

and dont forget REVALUATION, this will put us right up there with VOG or even above it if Tony plays it right

In for the long term spudhead, mm's brought the sp down this morning, but will rise later. Waiting for the gas news and revalulation.
Have not yet decided when to go back into TFC, but will let you know.

themaster- can i suggest gold oil goo.

agree with the mrp analysis- med/long term play for me!

Lizard - was in GOO bought at 3.98 and sold 5.50 (too earily as usual), why should I get back in now?

if you invested in goo in the first place the master i would expect you know the potential?. long term hold for me!.

mrp- awaiting news i reckon!- hence mm stability.

I think the news is held back for tomorrow, for a bigger impact

75p by friday

at least ph-

waiting for wills to exit, they held 3%, they are currently in the process of dumping.. they started yesterday, so should be out by tomorrow

This share price has more ups and downs today than a Ben Dover movie !

SER is moving up, could be large gains tomorrow

All quite on this thread today, anyone have views/news

i've added today@25p. i suppose we await news.

What is the exact, precise news you are hoping for?

you obviously don't know mrp very well then saintserf- many updates in regard to existing contracts dyor.

Mostly sales at the moment , could be a bit of a non eventful day.

I'll keep the Ferrari that I ordered on hold !! lol

Theres nothing about MRP in ic today.

espaceman,

Just as well, IC is the kiss of death, lol!

bounce here!- nice to see the blue at end of day- we must see an update next week surely?- hopefully a good one if it comes.

I've been away from my desk and it was a pleasant suprise to see a bit of blue !
Next week a big one hopefully. Were mrp still suffering a hangover from the big institutional sell ?

LOOKING FORWARD TO UPDATE ON AUSTRALIAN ASSETS MID MARCH-

bought some sco today, and wooossh rumour of a 48mil contract ;-) all those profits will be going in here next week ;-) cant resist

thought you were already in katcenka or increasing holding?.

NEED TO START A NEW THREAD WHOEVER STARTED THIS ONE CAN'T SPELL MERIDIAN.

there is a few of BB's for MRP... latest news is a good one

lizard, got out and then got back on SCO.... could not resist when they went to 1.5p, then the rumour came out. how luck is that, and liked the independents report on it, they say scotty won a 48bn euro contract LOL, I wish

Katcenka , what is BB'S ?

bul board

from todays shares mag.
Dexter

+++++++++++++++++++++++++++++++

Taken from Pg20 Shares Mag:
Run by a former British Army officer, Meridians recent 1 million share placing gives it the cash it needs to complete development work on its two main prospects, the Orion and Calvin fields in the US.
The shares have recently really started to move recently thanks to Meridian securing a lease on the Orion field, an exciting move since it is believed to hold about 3 billion cubic feet of gas, 2.7bcf recoverable. based on data from previous projects. There will also be money left over to snap up a handful of new prospects this year too.

watch this space ;-) its on its way

thanks Lp;