Meridian Petroleum signs Orion field lease
LONDON (AFX) - Meridian Petroleum PLC, the oil and gas company with key
assets in the US and Australia, said it has signed a lease on the Orion field,
100 pct working interest, in Oakland County, Michigan.
The company said, based on data from earlier wells, the lease contains a
proven and probable shut in reserve of 3 BCF of gas in place with approximately
2.7 BCF recoverable. The gas content is pipeline quality after treatment and
also contains condensate.
It added it expects to begin drilling operations early in the second quarter
of this year.

Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, announced on 24 January that its Calvin 36-1 well on the Calvin
Field, Winn Parish Louisiana (80% WI), had encountered a substantial gas show in
the Sligo Petit Zone. The well was flowed on a limited open hole test with a
25/64 inch choke in excess of 1mmcfpd.



Based upon the analysis of previous production data from the Sligo Petit Zone,
the Company anticipates the following break down of the gas and condensate mix -
Carbon Dioxide 3.14% to 11.66%, Nitrogen 3.75% to 5.28%, Methane 76.97% to
83.11% and Propane 0.95% to 2.36%.



Due to the default and non consent of the original owner of the Calvin lease,
Meridian's Net Revenue Interest will increase to 67.75% from 60% until a
significant financial penalty is paid through the increased production revenue.



Meridian is moving ahead as quickly as possible to complete the well and
commence production into the nearby pipeline.





Anthony Mason, Chief Executive of Meridian said:



"We are very pleased with the likely rich condensate content of the Calvin well
which will enhance our revenue from the field. While unfortunate, the previous
lease owners default increases Meridian's revenue share enabling costs to be
recovered more quickly."

from shares mag.
Dexter

+++++++++++++++++++++++++++++++++++++++++++++

Taken from Pg20 Shares Mag:
Run by a former British Army officer, Meridians recent 1 million share placing gives it the cash it needs to complete development work on its two main prospects, the Orion and Calvin fields in the US.
The shares have recently really started to move recently thanks to Meridian securing a lease on the Orion field, an exciting move since it is believed to hold about 3 billion cubic feet of gas, 2.7bcf recoverable. based on data from previous projects. There will also be money left over to snap up a handful of new prospects this year too.

cheers dexter- may see a few investors in after positive report!.

Asset revaluation complete, news out shortly, could it be at 3pm

or could it not..

Chill....AFN is even worse

More than likely NOT in spudhead's case...

do they have filter on here he is full of crap?.

I wish they had something on here to stop Bulls s**t

The Asset revaluation is complete, RNS is due very very shortly. I did expect it yesterday, I think the chairman has to sign it off first, so probably will get issued today at 3pm

we could certainly do with something! although i will take the above as garbage.

BBBBBBBBBBBBBOOOOOOOOOORRRRRRRRIIIIIIIIIIIIIIINNNNNNNNNNNNNGGGGGGGGG!!!

They will commence production with the Calvin Field soonest and issue relevant RNS, a revaluation of the company will follow.

what will come next week?.- update hopefully!>

get ready for lift off

Afternoon all,
I`ve just got this reply from Mason, it is not doctored in any way, as those of you who have had the same answer.

Dexter
Masons email address; tony.mason@meridianpetroleum.com
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++


We are evaluating a CBM project currently. Orion and the other assets are all on track and we will inform the market when events become material.

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641


--------------------------------------------------------------------------------
From: ****** *******
Sent: Mon 3/6/2006 06:00
To: Information
Subject: BB rumours!


Dear sir/ madam,
would it be possible for you to clarify a couple of points for me ?, as there are, as you are probably aware, many rumours going around various BB`s.

1) Are you currently looking at a CBM project ?

2) Are the projects for which the fundraising was for on track ?
Sorry to trouble you at this busy time, and I do understand that you are not able to disclose price sensitive information.
Regards,
***** *******

16p is target until next news, which is not till next month

absolute crap- obviously not a holder!. this will drift between news releases as expected, i would also expect news much sooner than that.

potatohead - aka bluedolphin - aka katchenka

this is heading to 18p for sure, it will open at 20p in the morning, stop losses will get triggered and drag it down to 18p, then I will step in ;-)

can't wait-

Another brilliant start to the day ...