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?

Well it seems to be holding up well, but I agree, I'm not chasing this rocket, not at this price!

I'll wait, and if i've missed it, well there are plenty of other shares out there!

duplicate, sorry

duplicate, sorry

duplicate, sorry

Meridian Petroleum says exploration well in Michigan Basin discovers hydrocarbon
AFX
19/05/05 14:30

LONDON (AFX) - Meridian Petroleum PLC, the oil and gas exploration and production company, said its exploration well in the Michigan Basin, US has discovered hydrocarbon.

The company will shortly conduct perforation and flow testing of the well, it said in a statement.

Chief executive Tony Mason said: ' ... the initial log interpretations indicate that this should be a commercial discovery.'

Meridian has a 25 pct working interest in the field.

newsdesk@afxnews.com

From UK-Analyst.com: May 19th 2005

Positive drilling results from Meridian Petroleum sent its share up 6p to 17p. The oil & gas exploration and production company said that the Milford 36 exploration well located on the Southern Reef Trend in the Michigan Basin in the US had reached its target depth of 3,960 feet and had discovered hydrocarbons. Meridian has a 25% working interest in the field.

Meridian Petroleum PLC
19 May 2005
MERIDIAN PETROLEUM PLC
('Meridian' or 'the Company')
Hydrocarbon Discovery on Milford 36, Michigan Basin
Meridian Petroleum, the oil & gas exploration and production company with key
assets in the USA and Australia, today announced that the Milford 36 exploration
well located on the prolific Southern Reef Trend in the Michigan Basin, Oakland
County, Michigan, USA has reached the target depth of 3,960 feet and has
discovered hydrocarbons.

Meridian has a 25% working interest in the field.

Well logs indicate a gross pay of 94 feet with a net pay of 71 feet.
Permeability averages approximately 6%.

Casing on Milford 36 is now being set. Meridian will shortly conduct perforation
testing and flow testing of the Milford 36 well. The exact size of the Niagaran
reef and reserve potential will be determined during this well testing phase.

The exploration rig will now be moved to drill the Brighton 36 which is expected
to spud shortly.

Further information will be announced in due course.

Tony Mason, Chief Executive, Meridian Petroleum, said:
We are delighted by the result and the initial log interpretations indicate
that this should be a commercial discovery. We are now moving the rig over to
Brighton 36 which we will spud as soon as possible.'

Enquiries:

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

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

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

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

article take from Oilbarrel.com 22.07.2004

Meridian Petroleum Successfully Floats Its Low Risk Cash Flow Company With Exploration Upside On Londons Alternative Investment Market
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 is 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 in acquiring these North Sea 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 it 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 gas, well, gas prices are sky high at the moment.

Meridian Petroleum, which has just successfully floated on Londons 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 was in June 2004.

Meridian has an interest in another field in Michigan, Brighton 36, a Niagaran Reef formation in a historically prolific oil and gas producing area, with gross producing reserves and resources estimated at 1.3 bcf 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 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 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 interest 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 km from the Moomba to Adelaide pipeline and the populated markets of south-east Australia.

The US interests are more advanced. With Meridians 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 barrels 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 Meridians P1+P2 reserves before considering the upside potential of Australia.

A key point to note is that on the day of Meridians 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 per 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 will start 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

Some nice buys have just shown up!

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