Meridian new to AIM (20/7/04) seems to have been drastically underpriced, offered at 30p already flying around 50p. Heavy institutional support, still plenty of upside imho
Any thoughts anyone?

Meridian Petroleum PLC
16 June 2005


16 June 2005

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

Activity Update

Further Progress


Meridian, the oil & gas exploration and production company with key assets in
the USA and Australia, today announced the following update on its activities.

Milford 36 (25% WI): Positive gas test results

Gas testing of Milford 36 has concluded that the gas is of pipeline quality and
can therefore flow directly from the well head to the CMS pipeline.

Meridian is at a very early stage in its evaluation of this resource. Further
testing will be required to define its size and maximum flow rates. Given the
gas test results and the significant size of the net pay section calculated from
earlier well logs, Milford has the potential to be a material addition to the
company's reserves. Meridian will now shoot additional seismic in order to
better define the size of the formation. The results of this quick process will
determine the optimum means of maximizing production.

Calvin (80% WI): Well soon to go into production

Work is ongoing to get the well into production as soon as possible. Given the
nature of the reservoir, an initial low production rate is anticipated with
increases expected after the first few months of production. It is expected
that the well will be in production by the end of August.

Emery Hudson (50% WI): Step out well planned to boost production

Meridian has begun the permit work required by the State of Michigan in order to
commence a high angled step out of the existing well. As identified by 3D
seismic, the reef is approximately 110 acres in size giving the formation very
significant hydrocarbon bearing potential. Permit work is expected to be
completed by the end of June with a view to commencing the step out well,
subject to equipment availability, shortly after. The objective is to restore
gas production to the 4mmscf/pd level plus associated condensate formerly
achieved.

Middleton Creek (80% WI): Significant exploration potential

Meridian believes that there is significant exploration potential in the lower
Tuscaloosa trend. Given this potential and the high level of the Company's
ownership, it we will be taking all necessary steps to develop this prospect.

Brighton 36 (25% WI): Plugged and Abandoned

The Brighton 36 well was plugged and abandoned after not finding commercial
quantities of hydrocarbons.

Australia (100% WI): Planned farm out to accelerate development

Meridian is presently working on a planned farm out of part of its interest in
the Dolores prospect in the Arrowie Basin, South Australia. This would assist
the Company in accelerating development of the prospect. Dolores is located
just 25 kilometers from the existing Moomba - Adelaide pipeline and is believed
to have significant gas potential in a market experiencing supply shortages.
The Company is also carrying out geophysical work on the seismic lines over the
prospect.


Tony Mason, Chief Executive of Meridian, commented:

'Good progress has been made in recent months and we are now close to bringing
more producing fields online, boosting our cash generation. We continue to seek
acquisitions of US assets that we believe can be quickly converted into cash
flow and expect to complete on one such asset in the near future.'


Enquiries:

Meridian Petroleum PLC (020 7409 5041)
Tony Mason, Chief Executive
Peter Fleming, Director of Finance

do not understand. positive news. cash flow coming sp drops.

just wish this would get a move on, does not make sense why it isn't.
Sambal

Interesting situation developing here.Should Milford turn out to be non commercial you will be looking at an sp of around 3/4.0p after the Brighton Duster!
Judging by a few bb boards there appears to be a few that are shorting this dog
as this has turned into an horrendous ipo for those that subscribed.
With the mms not even prepared to pay market price for a poxy 2 grands worth of stock it now looks the time to short the pants off this Turkey!

Its on the Brink now Keep Shorting and Selling Those Shares !

Read this one in Oil Barrel. I am still amazed the SP is so low.

31.08.2005
Meridians Portfolio Of Low Cost/Low Risk Assets Gathers Pace In The US Where Gas Prices Are At Record Levels

The SP should go just based on this news!!

Meridian Petroleum, the oil & gas exploration and production company with key assets in the USA and Australia, confirms that its operations have not been affected by Hurricane Katrina.

Enquiries:

Meridian Petroleum PLC (020 7409 5040) Tony Mason, Chief Executive Peter Fleming, Director of Finance

Westhouse Securities LLP (020 7601 6100) Richard Morrison

Sambal,this sp. slided from around 40 down to '10.5 over ayear, and now over amonth has crawled up to 12,it slides down fast,but moves up like a snail.unless they have abig gusher.

Sambal,this sp. slided from around 40 down to '10.5 over ayear, and now over amonth has crawled up to 12,it slides down fast,but moves up like a snail.unless they have abig gusher.

Mbugger,
As you so rightly say this sp moves up like a snail. I would have thought with MRP reporting no damage to their operations from Katrina it would have moved higher. But watching the news last night I realise that the the infastructure to transport and treat oil & gas has been badly affected in the southern states of the US which may have an affect to mrp flows for some time.
Comments welcome!!!

Morning all,
this has been very quite until now, excellent price with plenty of upside still to come IMO, just read the rns below,
Dexter

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

Meridian Petroleum PLC
24 January 2006

24 January 2006

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

Calvin 36-1 well achieves commercial flow rate
on open hole test

Meridian Petroleum, the oil & gas company with key assets in the USA and
Australia, is pleased to announce that the Calvin 36-1 well on the Calvin Field,
Winn Parish Louisiana (80% WI), reached a Total Depth of 8,512 feet on 20
January 2006. A substantial gas show resulted and commercial flow rates of up
to 1mmcf/pd were encountered using a 25/64 inch choke. Both down hole pressure
rates and well head pressure rates were highly satisfactory. The initial
completion and flow test were open hole with no casing string. As such, higher
flow rates are anticipated from the completed well with a smaller choke. The
production pattern in this field, and from this formation, is that wells
generally start at modest production levels and build up over time.

The Louisiana State gas flare ban meant that gas was produced into a frac tank
on location. The pressures encountered were such that, with due regard for
safety, the well was shut in immediately after completion of the flow test.
Previous gas tests in this zone have indicated pipeline quality gas with a high
condensate content. Plans are now moving forward to get the well completed and
on line as soon as possible. A pipeline runs through the location approximately
100 yards from the well head to the Calvin field dehydration and processing
facility.

Given the overall potential in the Calvin Field, Meridian will be conducting
further exploratory work in the Rodessa Zone and then, once these are secured,
in the undrilled deeper zones which are expected to be highly prolific. The
appropriate steps are underway to secure these interests.

Anthony Mason, Chief Executive of Meridian said:

'Calvin 36-1 is a significant onshore hydrocarbon discovery and we expect to add
to this success in other areas as the year progresses. We are also looking
forward to bringing our other near production assets on line soon.'

Enquiries:

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

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




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

I couldn't buy any of these when i tried first thing today. Price gone up 80% since then so I think I've missed this buying opportunity.

being monitoring isoft recently,the price keeps going down.
any comment anyone?

andrewt,
IMO you have`nt missed the boat, i did`nt buy in until 14.5p, still cheap when you look at the mkt cap, under 11m.
Dexter

Meridian Petroleum Reports Commercial Fflow Rate From Calvin 36-1 well, Louisiana
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Meridian Petroleum, the oil & gas company with key assets in the USA and Australia, has announced that the Calvin 36-1 well on the Calvin Field, Winn Parish Louisiana (80% WI), reached a Total Depth of 8,512 feet on 20 January 2006. A substantial gas show resulted and commercial flow rates of up to 1mmcf/pd were encountered using a 25/64 inch choke. Both down hole pressure rates and well head pressure rates were highly satisfactory. The initial completion and flow test were open hole with no casing string. As such, higher flow rates are anticipated from the completed well with a smaller choke. The production pattern in this field, and from this formation, is that wells generally start at modest production levels and build up over time.

The Louisiana State gas flare ban meant that gas was produced into a frac tank on location. The pressures encountered were such that, with due regard for safety, the well was shut in immediately after completion of the flow test. Previous gas tests in this zone have indicated pipeline quality gas with a high condensate content. Plans are now moving forward to get the well completed and on line as soon as possible. A pipeline runs through the location approximately 100 yards from the well head to the Calvin field dehydration and processing facility.

Given the overall potential in the Calvin Field, Meridian will be conducting further exploratory work in the Rodessa Zone and then, once these are secured, in the undrilled deeper zones which are expected to be highly prolific. The appropriate steps are underway to secure these interests.

Anthony Mason, Chief Executive of Meridian said:

Calvin 36-1 is a significant onshore hydrocarbon discovery and we expect to add to this success in other areas as the year progresses. We are also looking forward to bringing our other near production assets on line soon.

put some on these @14p, also more on gold oil. think these have potential albeit speculative.

I speculate these will be the type of Company that Harry Wilson will be looking to steal post February Chinguetti production.

Not saying this one in particular but they do produce gas in the GOM and on land adjoining, add this find and a low sp, ands what have you got?

Another Fusion Oil & Gas.

Make a note of that.

This is the big gusher mentioned in Sept.2005,Sambal are you still in.

http://business.timesonline.co.uk/article/0,,8211-2007120,00.html

"Meridian Petroleum was the clear leader in the small caps, with shares surging 9.63p to 17.25p. The prospector said one of its bore holes in Louisiana, the Calvin 36-1 well, is pumping enough oil to be commercially viable. Meridian shares have derated from a peak of 56p in less than a year as holders grew impatient for news of a workable find''