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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

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.

and the drain sits there with open maw ...... there ought to be a link somehow between that and the road to hell being paved with good intentions .... like MRP and a bunch of other rubbish E&P stocks (yeah yeah - you could easily include GOO and VML in there too!)

and tm sitting on 18% of the company which the market is waiting for him to dump.

big Q. over aussie.

but biggest question, ensight not exactly excited about calvin

Agree Rich, not saying that if bought now, at some stage in the following year you wouldn't see a 100% profit, but the words if and but, ring loud, i too, was a victim of the VOG, CHP, MRP etc era when it all seemed rosy, can remember buying MRP at 18p and selling 2 days later at 23p, nice profit, but if i hadn't sold, look where i would be now! That said these must surely be much better value now... however i would leave well alone for the time being, better value out there...

hi Ted ... at last someone with common sense ... as i said somewhere, perhaps here, if you want an E&P oily with almost certainly better prospects, then have a look at EO. ..... still very risky, and for myself, i bought a couple of months back but sold at a decent profit, more from being shit scared than logic it has to be said

Euhhh !, without taking sides here, ladies and gents take a look at FRR, drilling for oil in Georgia of all places, (not USA) the country just south of the Caucasian Mountains, it could go ballistic but it's not without risk...

Ms Singer has accepted having her 6 million shares locked in for 6 months after which she can,if she wishes,sell them through normal channels.
This is a very positive sign for me as she clearly thinks that the sp is going to head North and increase value over this period.

No, it means she dosn't need the money now.