www.meridianpetroleum.com

http://moneyam.uk-wire.com/cgi-bin/articles/200909240700095757Z.html
http://www.meridianpetroleum.com/admin/News/Docs/2008%20Results.pdf

http://www.meridianpetroleum.com/admin/News/Docs/Operations%20Update%20March%2009.pdf

http://www.oilbarrel.com/news/display_news/article/conference-report-2-petroceltic-international-targets-multi-tcf-resource-in-algeria-meridian-petro/771.html



Producing Oil/nat gas from the ELV field/USA....45% of Oil/Gas produced hedged at $100/bbl and $10.90 per mcf)

http://www.oilbarrel.com/fileadmin/content/pdfs/oilbarrel/presentations/merid%20pres.pdf


Drilling ELV.....Suspended until gain consent for sidetrack...casing and wellhead left in for future re entry

3D Seismics have been shot on PEL82 Otway Basin Australia....results are excellant!
PEL 82 Potential resource increased from 150mbbls Oil tooooooo 430mbbls Oil!



Also trading on Plusmarkets
http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B3DDP128/GBX/PLUS-exn

sheppo
off she goes!!

Looks like my retirement pot !!
Happy days with Levine on board
:-))

Article is this w/e FT on this topic.
Will post asap.

Darned good of you sir :-)

W/E FT: (Sorry to get you all excited as looks to be summary of friday RNS)
"Meridian Petroleum, an oil & gas explorer with production assets in Louisiana, was in focus on news of a placing that brought in Imperial Energy founder Peter Levine.
The company's share price gained 39% to close at 64p after it announced the 7m placing, which was priced at a significant discount at 25p.
"The equity funding, alongside the existing debt facility with Macquarie Bank, will be used to transform the company into an acquisition vehicle for exploration and production assets" said broker Oriel.
Meridian will change it's name to President Petroleum & Mr Levine is to emerge with a 29.9% stake."

PRICE FORECAST FOR NEXT FRIDAY.. 156P


STILL UNDER LISTING PRICE OF 200P ISH

can't be bad buying at 25p and making an instant paper profit of 39p .... now i wonder who lost out in that little gifting

I wouldn't like to hazzard a guess.
2517

Wii existing shareholders be offered the discounted shares

From FT today:
""This is effectively the launch of a new oil and gas company with the ambition and resources to become a significant independent player. We intend to develop President Petroleum Company from small-cap US producer with one major area of prospectivity in Australia, into a global, mid-cap business with substantial reserves and resources. Our aim is value creation that mirrors that achieved by companies in the sector whose reserves and resources have attracted the attention of larger businesses.

Today's announcement confirms the strength of our position:- a strategic investor with significant industry connections; support from institutional investors; finance facilities and banking support; and highly experienced new Board members with oil company backgrounds.

We will shift our geographic focus to areas with much greater potential for major hydrocarbon discoveries and we expect to complement our prospects in Australia with other similar sized opportunities in such diverse areas as Asia, Africa and Europe. Our strengthened Board and Management capabilities will enable us to move quickly on any opportunities, and our new cash position will ensure we are able to add further resources wherever needed, whilst eliminating our net debt position."

Where are you Chav? Held above 60 on a very cr***y day!

60p will seem cheap within a few months

And 25p - offer price- very cheap.

...

SP holding up very nicely for some reason Maggie despite the 25p cheap shares coming alone soon. Looking more likely that MRP will fly once all this is out of the way and the quick bucks have departed. Champers still on ice but I can almost taste it now.

Welcome back Chav Thought you'd sold up! Quite surprised at the strenght of sp but delighted!

Have to admit I came close to selling on the morning of the RNS but have held on 2 see where these go and if the sp continues to hold after the new shares hit the market then it looks like we will make a few Bucks.

The new boys look like they will be tremendous value on the boD's taking into consideration their past performance with tiddler Oil juniors.

Ms Singers large dump of 350K shares has been nicely absorbed by the market and the sp moving ahead again :-) Surprised there hasn't been a holding RNS in regards the buyer of Ms Singers shares...perhaps when the person has finished buying.

It would be nice to have an update on PEL82 JV talks and ELV but I guess we will have to wait until the company changing process is completed.

I've applied for 100% excess so next week will be very interesting, should every thing get passed at the EGM on Monday, regards the reaction of the sp.
Hopefully people will hold for developments with the new company but I guess there will be a few fast Bucks to be had by some on the 1st Dec.