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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

Don't forget MRP is a peanut stock compared to the market. Who cares?

chav - 15 Jan 2008 22:22 - 365 of 372
British Bulls concur!

MRP Meridian Petroleum PLC '' 7.75 7.75 8.00 7.25 8.00 3.23% BUY CONF

--------------------

Just goes to show what a lot of bull they talk!

MRP may be a tiddler however there is money to be made in tiddlers,especially if they have an income that covers their costs plus extra to develope further. How many FTSE100 companies are liable to double their sp during 2008 compared to AIM companies? The new CEO,Stephen Gutteridge, made a fine job of Star Energy and is now giving MRP new direction and hopefully a fruitfull 2008.

i am sure you mean "likely to"! ...... one could ask with equal validity how many FTSE 100 companies are now worth 1/3 of what they were a year ago (MRP's record) and are still thus rated

I do mean 'likely to'! Small caps will bounce big style up and down unlike the FTSE 100 however thats how alot of money is made PROVIDING you buy/sell at the right time. With MRP at the bottom or near bottom,I think the time to buy them are now given the safety net that Orion is providing. Could be wrong,time will tell has always!

This does look like the bottom for this stock, perhaps barring any disasters we might get above 10p soon, which if you go by % would be quite an upswing.

3p targeted, ensight looks like it lost interest in calvin deep, foregoing the 400k they invested in mrp for the jv, they have had a year to examine calvin, conclusion, would of cost millions in drilling and return is too risky hence were happy to hand it back.

there is the matter of the continuous seller throughout january, is its tm's ex selling or is it tm himself..

gas prices now dropping along with oil.. expected to drop further, if mrp decide to drill calvin deep, all the money from orion will get spent on calvin deep.. milford looks like it wont happen now, more delays and no update on it.

alot of negatives to take into account here, current fundamentals give an sp of 2.5p therefore 3p has to be bottom not 6.75p

sorry chaps, but did warn you ...... if you want a spivvy oily with arguable potential then would be inclined to go for EO. or even FOGL or PET, EO. being my easy choice

The lower it go's the tighter the spring coils!

the taughter the elastic stretches before it breaks!
new money in here in these markets .... anyone who does so needs sectioning!

the problem you have here, calvin deep will cost more than what orion makes, so strip out orion and you get sub 2p per share

But you wouldn't do the whole Calvin Deep land mass in one go so your comment is facile.

Orion production to date = $3 million plus so that's 6+ Calvin Deep wells paid for.

14 more to fund after that. Orion funds available for one every 3 weeks subsequently. Also, don't forget that any success in the first few wells at Calvin Deep and money from them rolls in too. It means that possibly they could drill one every fortnight or less.

With independent Scott Pickford report suggesting Calvin Deep has in excess of 120Bcf then it could be self sufficient very, very quickly.

if, could be, possibly .... why does one always hear this about these super-spiv E&P companies when they keep failing to deliver the goods ..... AVOID

Orion producing thus 'delivering the goods'. Funds from Orion to be used on other acreage. In a sensible, controlled way financially. What's spivvy about that?
Quote facts not fantasy.

facts are in the chart and share price ..... you keep throwing your money down that big dark hole, often referred to as "down the drain"

No that's just price and charts. Talk cash flow. Talk profits. Stop obfuscating.

obfuscating i am not ..... all i would be interested in as an investor is whether or not the share was on the move in one direction or another..... this one is! ..... three guesses to see if you can work out which ..... the clue is whether sp shows a movement in red or blue

Are you prepared to discuss company prospects? I guess not. Think I will start without you then. Calvin Deep has a gross contingent reserve of 158Bcf according to Scott Pickford report. Meridian has a 70% working interest in it (although they acquired further rights after the report completion). Never mind, let's say 110Bcf which is 70% of the 158Bcf. This 110Bcf is spread over 4 potential reservoirs so not all eggs in one basket on this one asset alone. Now let's assume that it's bloody difficult to get the 110Bcf out of the ground (albeit it has been done before) and that they only get 40%. 44Bcf. This may take 20 wells or so at around a half-million $ a go. So spend $10 million (they definitely have $3 million ready to go). Now 44Bcf at what $8 per thousand cubic feet is what? I know. It's $352 million. Now why oh why is this a 'spivvy' company? Do you have dirt on Steve Gutteridge? I don't think so. Anything you'd care to say?

no .... not remotely interested in them ...... alll i am interested in is trying to make a profit and in my not at all humble opinion, clearly shared by the market, this is not the company in which to do it

should MRP ever come up with a meaningful result, there will be plenty of time to get on board ...... meanwhile, and especially in the current volatile markets, AVOID!

Thanks Cynic. I now understand where you are coming from. No point in discussing the company as such with you. Bye.