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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

its not shorters..

the market wont let it rise and there is no reason for a rise, orion production income will be spent on projects.. trust has gone on this company and also why did TM resign.. all those emails of telling people when an rns was out was well out of order and I reckon this could be a reason why he had to quit.. also what about his holdings no one will buy until he has sold..

Of course the Orion income will be spent on other projects!!How else do you think the company can grow if it does'nt develop the rest of the impressive asset's Blue???? MRP are probably the safest punt on AIM as far as oilers go.How many others are self funding or can even get close to covering their admin costs?

chav,this has to be a steal @10p?

Capetown,this has to be a steal at 20p!!

I can see all the arguments for not buying when it was 40p,but at this price i am in,i remember COP being all the rage and now that has doubled from its recent lows,MRP will do the same.

There's plenty out there with a higher mkt cap but not producing the goods.Production at Orion gives a hell of alot of safety to MRP from having to go to the market, cap in hand, for more money to survive or develop.

As per the wall st,interview.
i bought last week @10.06

The Wall Street interview with SG was very good and confirmed everything that we already know,pleasing to hear that the flow rates for Orion are still going well.
With EME in decline lately on bad news perhaps some of the sellers will see the sense in investing in MRP as a safer bet.

MRP seem to have hit the bottom of the slippery slope and poised ready for the break up.Little bit of Blue today,hopefully alot more of it to come!

Could this be the breakout?

Capetown, a question I keep on asking myself, lol. And yes I am a holder.

Be patient,it will happen.

Good rise from its 10p low,volumes on the up,15 next support?

Good News Today.Up 8% already

More sells than buys - why ?!!

Could be those who bought on very recent lows taking a good profit?

If they had sell orders in, i think they will be kicking themselves shortly

Ridiculous selling now, a rapid calculation shows a vastly undervalued stock.

good all the better for us, nice start to the new year

it hasn't been easy to pick a dud oil stock in recent months, so you guys must have researched very hard indeed - well done!