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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

The selling has stopped and peeps now buying. Bottom reached and time to get onboard.

sounds to me like a pretty damn-fool thing to do! ...... sp has scarcely moved and spread has widened

Only a trader is bothered about a 10% spread,I'm looking for 100%+ gain. If you don't like spreads then why even bother looking at any AIM shares?

because many quality AIM shares do not have wide spreads! ..... e.g. BUR 1224/1227 and POG 1490/1493 ..... and if you are looking for 100% gain on MRP, then how long do you expect to wait?

Not long!

be prepared to be badly disappointed then - lol!

I'm always prepared to be disappointed with AIM shares! However, I don't think I will be with MRP at 8p somehow!

Interesting cynic that you chose BUR as being a quality AIM stock, last time I saw it was in the FTSE 250 on Barclays but they have been known to get things wrong ;0).

bluelady,

Try AVM, MXP, PDX if you want to see AIM listed stocks with !% spreads.

MRP's spread of 11.7% is ridiculous, and I ALWAYS refuse to buy any stock with such a spread.

If the price falls, you can be 20 - 25% down in short time.

ah well; can't be rioght 100% of the time, but POG is assuredly AIM

Andy .... you can always leave in order within the spread

Go and have a look at KMR, HMB and CEY, big rises already but more to come imho.

big rise KMR, HMB and CEY? ..... in your imagination only!

KMR = +0.5p on a stock with a spread of 1.5p - where's the good news?
HMB = no change on day
CEY = +1.25p which is very nice but scarcely mind-blowing

they say you should invest in stocks for a minimum of five years. Ive been in the 3 above for about 2 years.

Hopefully, we can come back on here in 2 years time and say we have made the same sort of gains on MRP!! Pleased to say I havent been in MRP for 2 years i would be well cheesed off.

who says that?
and if you have been in MRP since Jan 2006, look at the chart (post 295) and see what a chump you have been .... sp is now back to its low (same as Jan 06) after a high of 38p (April 06)

Look at MDX, JHL, VOG, AEP, YAU, MITL and BRM, and see what kind of chump you have been!!! Dead easy to find shares that have done well over a certain time period the skill is buying at the right time. Just like when I bought KMR at 14p.

Black= KMR Green= CEY Red= HMB

and your point is?
the clever investor is not the one who, with hindsight, can say, "Ah, look how well this stock has performed," but the one who has enough brain cells to know when to bite the bullet or to take profit, either in part or the whole

I do realise saying something like ''the skill is buying at the right time'' might be confusing. What is the point of this thread?? a share that has gone up 420% and then back down in two years or simply gone down nearly 240% in a year. I suppose the rebound is just around the corner.

why should any rebound be round the corner?
and if there is, would you congratulate yourself, and if so, for what?

a better rule of thumb is that if a sp falls 20% from its, then it's time to cut, though i would be the first to admit that i sometimes lack the discipline - and then suffer the consequences.
by the way, how do you calculate that a share has fallen 240%??????

this is a complete disaster...pi's must be close to throwing in the towel now