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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

nah! too many like Kivver who insist a rebound is just round the corner, no doubt to take it to 40+ within the next 3/6 months

How is it a disaster for a new investor Maestro!!? lol lol.

not necessarily a disaster, but i can think of at least 2 (less than 10p) stocks that have better prospects - VIY and more arguably, GOO - check them out for yourself

chav...8p to 5p is 37.5% loss...good luck

GOO is certainly not at less than 10p right now,but could head there!
VIY looks to have spiked again and now heading back down towards the 4p mark until they get a decent sized contract for their technolgy.

From todays Hoodless Brenan Report...... Re Orion.....

Currently capitalised at 8.2m, in our view there is a chance that Meridian may become a bid
target should a potential acquisitor view the Orion well as an attractive compliment to their
portfolio of assets. 3MMcf/d of gas production we estimate is worth 18m at 6,000/Mcf of
production.

Thats Orion alone at 18mill, tick tock.

MRP Speculative Buy.

Also talks of MRP possibly being a takeover target.

I wonder what price we'd get. 18p?

note "there is a chance" and "we estimate" and "speculative buy" ...... damn fools dive in on the back of that sort of commendation!

I wonder who the shorters are on this thread!!

not i, lest you should think otherwise ..... far too small

As if I would!!

as a chav, perhaps you might

me neither.

That Hoodless report is a bit woolly!

I notice when they are short of comments they roll out the "there is a chance that Meridian may become a bid target" from the bag!

If it's worth 18p, why do they rate MRP as a "speculative buy"?

Speculative Buy
This is applied to companies where the prospects for capital appreciation exists, but currently has very little or no revenues.
The management will be trying to develop the companys assets e.g. mineral assets, biotechnology, or oil and gas exploration
projects. Such companies are almost certain to require further capital and future fund raising should be expected.

MRP certainly have good revenue from Orion compared to Mcap and are therefore unlikely to need further funding to develope the next two assets, so I would say 'Speculative buy' does'nt fit Hoodless discription.

"currently has very little or no revenues" so are quite likely to go to the wall ..... and though you say MRP is " unlikely to need further funding to develop the next two assets", the market is clearly very unimpressed, as indeed should you be ..... as for Kivver .... well, i'm afraid he needs his brain looking at if he actually has one; you have to be seriously stupid to see your investment grow from 8p to 38p and then just watch it go all the way back down and do nothing

'currently has very little or no revenues'.....$32,000+ daily with a Mcap of 8m...Your having a larff!!

Whats the current daily income for GOO?

no idea and don't really care ..... it was a pretty rash buy when i did so, albeit very modestly, and damn nearly dumped the damn things .... fortunately sp has recovered, though for how long no one knows

anyway, you keep touting MRP and perhaps one day sp will rise to some level where i hope you will have the sense to take profits ..... btw, cap of 8m is best part of FA! .... even GOO's cap is 8.5x greater, and as you and i concur, there is still no susbtance to that company (other than Mr P keeps buying swathes!)

Exactly,GOO' cap is damm near twice MRP with hardly any income therefore which is most liable for a rerating?

would not disagree at all, though i remain very puzzled that Mr P (and MF Global) continues to buy and buy and now owns 15% ..... he may be very rich, but can he really be buying purely on whim?

I certainly do not think there will be a rebound, I havn't an opinion of whether it will go up or down. IMHO the chart says it all 'the trend is your friend'' and all that.

if you are a holder, how can you not have a view as to the direction of sp, and certainly if you think there will be no rebound (your words) why on earth did you not sell ages ago? .... should you sell now? ...... your holding is now worth so little (relatively) that i would wonder if it is worth it.