espaceman
- 04 Apr 2006 07:18
News you've all been waiting for ...
Meridian Petroleum PLC
04 April 2006
MERIDIAN PETROLEUM PLC
('Meridian' or 'the Company')
VICTORY 1-21 SUCCESSFULLY COMPLETED
Meridian, the oil & gas exploration and production company with key assets in
the USA and Australia today announced that the Victory 1-21 production well (10%
WI) has been successfully deepened in order to further penetrate a Niagaran
reef.
Using a coiled tubing unit and conventional work over rig, Total Depth was
reached at 4,394 feet and gas communication was made between 4,161 feet and
4,192 feet, an increase of approximately 31 feet in net pay. The well was
treated with acid to stimulate flow and is currently being swabbed to remove
remaining acid from the well bore following which the well will be put back on
line this week. It is anticipated that enhanced production rates will be gained
from the additional pay sections in the reservoir.
Anthony Mason, Chief Executive of Meridian said:
'The successful deepening of Victory 1-21 is good news for Meridian. The well
will be back on line this week, following which Meridian will resume receiving
income from Victory 1-21. We are now looking forward to the imminent completion
on Calvin 36.'
Don Caldwell, a certified petroleum geologist, is the Company's Qualified Person
and has reviewed the information in this announcement.
Enquiries:
Meridian Petroleum (020 7409 5041)
Tony Mason, Chief Executive
Westhouse Securities (020 7601 6100)
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 Exchange ND
Big Ted
- 30 Apr 2007 13:31
- 169 of 741
its an oil/gas minnow... aaaaaaaargh
*runs for cover*
hlyeo98
- 14 May 2007 08:26
- 170 of 741
Meridian Petroleum PLC
14 May 2007
Meridian Petroleum plc
('Meridian' or the 'Company')
Calvin Field Update
Meridian Petroleum, the oil and gas exploration and production company with key
assets in the USA and Australia announces that its Calvin 36 #1 well located in
the Calvin Field, Winn Parish, Louisiana has undergone treatment to prepare it
for gas production.
On Tuesday 8 May the well was treated with a nitrogen wash to remove any
potential obstructions to gas flow in and around the area of the slotted
liner by the producing zone within the well bore. The treatment was successful
and some residue was removed from the producing zone area. Additionally, the
resulting gas pressure build up and flow back post the removal of the Nitrogen
was satisfactory for commercial production purposes.
On Wednesday 9 May a swabbing unit was used to remove fluid from the well bore, including the water previously used to 'kill' the well. Again, the resulting
pressure build and flow back of gas from the reservoir were found to be
satisfactory for commercial production purposes, and there appeared to have been
no additional water ingress moving into the well bore.
Swabbing was completed on Thursday 10 May with no additional fluids being
recovered. Given the satisfactory nature of the gas pressure build up and
prospective flow rate, the Company is now in the process of finalizing
arrangements with Smith Operating of Shreveport, Louisiana to tie the well into
the local Calvin Field gas processing and transportation system.
The gas contains approximately 10.187% CO2 and so must be processed in order to remove the CO2 before it can be sold into the grid. The Calvin Field gas
processing and transportation system includes a CO2 knockout facility, and so
will provide the quickest and most efficient processing of the gas and removal
of the CO2.
Tony Mason, Chief Executive Officer stated, 'The final steps towards getting
Calvin 36 #1 into production are now in place, and we are on target to meet our
stated goal of production in the second quarter of 2007. Our next challenge is
to exploit the gas in the deeper zones of the Calvin Field.'
Art Davis of the West Mountain Operating Company in Longview, Texas meets the
criteria of a qualified person under the AIM guidance note for mining, oil and
gas companies, and has reviewed and approved the technical information contained in this announcement with respect to Calvin 36 #1.
myway
- 18 May 2007 09:24
- 171 of 741
Positive news in from Meridian 14th May. The final steps towards getting
Calvin 36 #1 into production are now in place, we are on target to meet our
stated goal of production in the second quarter of 2007.
The response from the markets were that the SP has traded down which continued the trend of the last few weeks. The boys and girls at shareclubuk.co.uk were in profit but now we are out of pocket. Posters are there any underlying reasons why the fall in the SP should take place? If so can you let the club know? Or is it the MM adjusting, before production starts, which in-turn should be followed by a SP hike? By the way was yesterdays gain of 0.75p the start of a turnaround?
Tau Ceti
- 05 Jun 2007 17:13
- 172 of 741
The market makers just p*ss*d all over investors today by faking buy / sell figures using an offer price way in excess of actual buy price. For anyone interested the actual buy / sell figures were approximately as follows: Buy = 656010, Sell = 537924. The market makers would not be playing these games if this company did not have outstanding prospects coming on line any day now so beware of buy / sell figures you see for the next few weeks. Someone out there is trying to scoop up as many MRP shares as they can get on the cheap. Pity the authorities are too spineless to deal with these people.
maestro
- 05 Jun 2007 19:37
- 173 of 741
why not deal with them ourselves...i'm sure they would take notice of a little gentle persuasion
hlyeo98
- 18 Jun 2007 18:53
- 174 of 741
Meridian Petroleum PLC
08 June 2007
Meridian Petroleum plc
Placing of new shares to raise 1.78 million
Meridian Petroleum, the oil and gas exploration and production company with key assets in the USA and Australia, today announces the successful completion of an institutional placing of new Ordinary Shares in the Company.
Ambrian Partners has placed 16,181,900 new Ordinary Shares at a price of 11p per new Ordinary Share with institutional investors, raising 1.78 million before costs.
The funds raised will be used to continue the development and growth of the
Company in three key areas:
1. Ensuring the successful completion of all activities required to bring the Orion 36; Calvin 36#1 and Milford 36 gas wells into production.
2. Sustaining progress with the development plans for the company's major
assets:
A test well to establish the potential of the Calvin Deep gas prospects
in Louisiana (contingent reserves 58bcf* net)
Acquisition of additional acreage at the Company's Coal Bed Methane
project in Alabama and detailed planning on the pilot project (contingent
reserves 240-390 bcf* net)
Investigation of the optimum approach to drilling on the Dolores prospect
in Australia (prospective reserves 432bcf* net). Possibilities under
consideration include bringing a partner into the project to help with the
funding and technical requirements.
3. Adding technical resources to the Meridian Petroleum team and providing a
solid organisational and governance platform for future growth.
Application has been made for the new Ordinary Shares to be admitted to AIM and
dealings are expected to commence on 13 June 2007. Following the placing, the
number of Ordinary Shares in issue will be 96,430,863. The new Ordinary Shares
will be issued under the existing authorities granted to the Directors.
Additionally, the Company plans to release its preliminary results for the year
ended 31 December 2006 on 26 June 2007.
Stephen Gutteridge, Chairman of Meridian Petroleum, said: 'The funds raised from
this placing will help finance the final stages of our development into
production, and will enable us to plan our capital spending programme to
progress our larger projects in the coming months.'
cynic
- 18 Jun 2007 21:08
- 175 of 741
sorry guys, but this chart is truly horrid .... also look back at comments of 18 april
myway
- 28 Jun 2007 11:08
- 176 of 741
Well I take my hat to them, as they are helping me to make profits, who am I talking about? Yesterdays news from Meridian announcing that three Directors who have purchase a total of 784,528 shares, Stephen Cutteridge non-ex Chairman, Peter Cutteridge non-ex Director and David Wake-Walker non-ex Director, they are all out to make profits, the members of shareclubuk.co.uk were so pleased to read this news as it should lead to profits on their investments. Are you in on the profit run.
cynic
- 28 Jun 2007 11:55
- 177 of 741
though good to see directors buying a decent number of shares t9hough was it merely exercise of option at bugger-all?), i see no reason to jump in .... chart is still horrid and company is a bare notch above the likes of CHP and GOO etc etc
hlyeo98
- 28 Jun 2007 12:40
- 178 of 741
Looks like it is a good bet to get in now. I'm sure the directors got in as the wells are getting hooked up soon.
cynic
- 28 Jun 2007 12:57
- 179 of 741
did they tell you so? ..... do you know that their purchases were at full market price and not just option price? ...... at least the latter is easy to check ...... mind you, even if at full market price, the sum total is barely 100k, so that is still only about 35k each
m12rtn
- 28 Jun 2007 16:12
- 180 of 741
cynic,
Just close the short!!
cynic
- 28 Jun 2007 17:42
- 181 of 741
am not and never have been short here, though by the (non)performance of the share, wish i had been
hlyeo98
- 29 Jun 2007 16:16
- 182 of 741
Meridian Petroleum non-exec chairman Stephen Gutteridge raises stake to 1.1 pct - AFX
LONDON (Thomson Financial) - Meridian Petroleum PLC said non-executive chairman Stephen Gutteridge bought 38,972 shares at 16 pence today and now holds 1.1 pct in the company.
Gutteridge bought 211,028 shares on June 27 and was granted options over 850,000 shares exercisable at 13.75 pence by June 26, 2017 today, the company said.
TFN.newsdesk@thomson.com
PapalPower
- 26 Jul 2007 15:25
- 183 of 741
http://www.investegate.co.uk/article.aspx?id=200707261520199433A&fe=1
Meridian Petroleum PLC
26 July 2007
MERIDIAN PETROLEUM PLC
('Meridian' or the 'Company')
Meridian Commences Production at Calvin 36-1
Meridian Petroleum (AIM : MRP), the independent oil and gas exploration and production company with key assets in the USA and Australia has commenced gas production from its Calvin 36-1 well in Louisiana, USA, following the completion of final testing and cleaning of the well. The Company expects some variability in the early flow rates from this well and will be monitoring tubing and surface flow and pressure data before confirming the production potential of the well.
The Company expects to provide further operational information on Calvin 36-1 and its other current US developments of Orion and Milford in an update to the market on 2nd August 2007, the day of the Company's Annual General Meeting.
Stephen Gutteridge, Chairman, said 'bringing the Calvin 36-1 well on-stream has been a lengthy process and we are pleased that we finally have some gas production from this asset. We are now looking to our next milestone, bringing on-line the greater potential production of the Orion 36 well, and we will provide an update shortly.'
Art Davies, who works for West Mountain Operating, Inc., is an independent contractor who meets the criteria of a qualified person under the AIM guidance note for mining, oil and gas companies, has reviewed and approved the technical information contained in this announcement with respect to Calvin.
annubis
- 27 Jul 2007 19:37
- 184 of 741
a must buy for next week
PapalPower
- 30 Jul 2007 06:26
- 185 of 741
PapalPower
- 30 Jul 2007 10:38
- 186 of 741
Moving today.
On line sell limit is 150K and buy limit 75K presently.
L2 on the up, todays changes all blue, and now 3 v 4 @16/17
myway
- 30 Jul 2007 13:50
- 187 of 741
The recent news on problems with the US sub-prime mortgage market is not helping the stock market. One must now stop looking a red screens, and start seeking out stocks that are profit winner, thats just where we are at with shareclubuk.co.uk The news from Meridian Pet that they have turn the Gas on for production, is enough on its own, to takes the company to a trading up position, and therefore well worth looking at..