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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

to late to short today, but may be worth trying to short tomorrow as sp is just about spot on 50 dma resistance level

Carefull Cynic. Mason will be after you. Shorters aren't welcome. :-)

Strawbs.

who the hell is Mason? Fortnum's partner?

As in Tony Mason CEO. Was he not miffed about some broker shorting MRP?

Actually given that Calvin will come on-line eventually, and all the assets they have acquired, it might actually be worth going long rather than short.

Maybe I'll put it in my paper portfollio..........

In my opinion, do your own research, ya da ya da ya.....

Strawbs.

Strawbs you're correct IMO --short closed ..THANKS 34p TO 15p..
This share price should never be this low given the facts and TM WILL REVEAL
ALL WHEN HE THINKS FIT TO DO SO. It's a no brainer like HMB------DYOH

RNS: Interim Results

Might need to hold that short a little longer. Looks like Calvin won't be ready until October after all. I've no doubt this will hit the share price again, but I think long term this must be completed eventually......unless they go bust of course.

In my opinion, do your own research.....etc.

Strawbs.

sp opened about 10% down so arguably too late to short ..... though calvin may well come good, markets don't like bad news, even delays against promises, especially from minnows and the figures weren't so hot either.

the following article was copied from Growth Investor..
i like the part about Warrior Basin - 500 trillion cubic feet of gas..


*****************************
http://www.growthcompany.co.uk/news-and-comment/28504/meridian-sees-autumn-gas-gush.thtml
*****************************
06/09/2006

Meridian Petroleum expects first production next month from its 142 billion cubic feet Calvin gas field in Louisiana.

Tony Mason, chief executive of USA and Australia-focused Meridian, says first production from Calvin 36 No 1 well is likely next month, followed by Milford 36. Arguing that a legal deal over aboriginal native title to the AIM-quoted company's massive South Australian gas project is very close, Mason says the company now sits on more than one trillion cubic feet of recoverable gas, with another 50 billion likely to be added to Calvin in October.

This portfolio includes a coal-bed methane project at Warrior Basin in Alabama, which holds an estimated 500 trillion cubic feet of gas. Mason says a pilot project should be producing from Warrior in the first quarter of 2007.

He emphasises that RAB Capital-backed Meridian, which is already producing from its Victory 12 well, has had all is estimates independently verified and argues the company's projects would be viable at oil and gas prices well below today's. Mason claims canny stake buying should ensure handsome returns when the assets start producing.

Farm-in deals with major production companies are possible later on and Meridian could sell its Mississippi assets at some stage. The company raised 1 million at 14p in February and Mason says there is enough money for 2006's programme, though Meridian will need more finance, in debt, equity or both, next year.

Floated at 30p in 2004, Meridian shares have veered between 51.5p and 7p and now stand at 16.5p, down 0.5p this morning, valuing the company at 12 million. They offer speculative recovery prospects.

Reading the above, Tony Mason sounds like a great promoter of his own stock .... that's fine provided he actually delivers, but i would much rather he was more conservative in his prognostications

I believe all will come good in the end,wouldn't like to hazard a guess when that will be though,but IMO,you couldn't get a cheaper share with all the potential of this one,people were buying these in the spring for 44p,hard to believe they are now 16p,and we haven't had any bad news,just delays,equipment and personnel shortages that is all.The MM's off course take full advantage of this,I would do the same if that was my job.

shorter has come back.. 25k sells reapearing.. 7p target, but could go lower

heard a rumour that meridian could be gobbled up by one of the big boys...more later

dthomson014,

"and we haven't had any bad news,just delays,equipment and personnel shortages that is all."


So far the delay has been at least 8 months, so I wonder what you define as "bad news"!

MRP have failed to deliver so far, and the price has reacted accordingly.

The market always punishes a stock that fails to deliver, so until the company delivers news the market wants t hear the price will remain subdued IMO.

And as for "it was 44p in the pring, and only 16p now", there was some irrational exhuberence in the spring, then sentiment changed, and that is why the price has fallen IMO, sentiment.

Even news of Calvin production may not help much, as it's already in the price, unless it surprises siugnificantly to the upside in volume and revenue of course.

andy, you fail to see, this reflects on all future projects

this is a disaster on a major scale

imminent is not 9months, everything was exagerated in the RNS's, I dont trust anything this company says now

remember langbar, there RNS;s said one thing but the truth was something rather different

very familiar

Looks like lots of news coming up, so am going to get myself a position in MRP now.

Well worth listening to the recent WallStreetReporter.com interview of last week, it explains many things and also whets the appetite of what is to come, short, mid and long term.


Meridian Petroleum LSE: MRP.L

Sector: Energy

Interview With: Anthony Mason CEO Dated September 15, 2006

Listen with Windows Media Player, link below :
http://www.wallstreetreporter.com/uploaded_files/2006/September/15/wma/MeridianPetroleum.wma

Listen with Real Player, link below :
http://www.wallstreetreporter.com/uploaded_files/2006/September/15/ram/MeridianPetroleum.ram

The release of some information via this interview seems to have perked up the price.

http://www.oilonline.com/news/features/aog/20060824.News_Upd.22025.asp

Aug 24th 2006


Dolores delivers

Estimates by RPS Energy of Meridian Petroleum's 100%- held Delores prospect, located in licence PELA 132 in the Arrowie Basin, onshore South Australia, put P50 (50% probability) gas recoverable at 432bcf, based on an approximate 80% recovery factor, equivalent to 72 mmboe.

Dolores, situated 40km east of the Moomba-Adelaide gas pipeline linking the Cooper Basin gas fields to South Australian gas consumers, is due for drilling later this year. AOG

L2 2 v 1 @17.5/18.5


WINS being erratic on bid and offer, all over the place, as per yesterday, looks like they are trying to entice sellers out by raising it up and dropping it back all the time. Are they covering for a lot of short positions ?

have been out of this share for a while, having been a fan of it for quite a long time ..... as i am very lazy, can you enlighten me as to the reason for sp's fall from grace?