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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

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?

cynic, as is normal in O&G.......delays delays delays...... :)

An extract of the article from http://www.growthcompany.co.uk/

For the full article you'll have to go to the web site......... :)


06/09/2006

Meridian Petroleum expects first production next month from its 158 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 billion 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....................................

and also looks like Mason trying to sound optimistic and promote the shares as much as he dares under exchange rules ...... admiitedly all oilies and commodity shares are currently under the cosh, but seemingly the market has less faith in Mason's prognostications that he does.

Well October is nearly upon us,could this be the month that is the making of MRP,let us hope so!!!!

Morning all,
he is my IMMINENT reply to an email I sent to TM`s office !, spelling and grammer to usual standards, I think there is an IMMINENT threat of the secretary getting her/his p45!!!
Dexter
ps, now that word "shortly", what`s the definition of it????????
_____________________________________________

There a lot of things happening at present. What I can say is that all
is on track and we should deliver as planned.
As for market confidence; I suggest you listen to the company and not
the BB's.
We will get an update out shortly.

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



-----Original Message-----
From: ****** ******* [mailto:******.*****@btopenworld.com]
Sent: Fri 9/29/2006 07:54
To: Information
Subject: email sent 28th Sept.

Tony,
this is a copy of an email sent yesterday, I would very much
appreciate a reply
regards, Roger

Hi Tony,
as an investor I am becoming a little concerned at the
continuing delays with getting Calvin into production. Earlier in the year
it was stated you anticipated to start work on w/c 27th March withfinal
completion in early April. This then went to within 30 days from 27th
April, this was due to small hold ups with equipment etc..
the well was tested on 16th June and you anticipated final
hook up within a few weeks. On 1st August you were conducting flow
enhancements, and on 8th Sept. you anticipate completion for late October.
Could you tell me the reasons for these continued delays,
as from early April to end of October is a very long delay for a project
that is close to a pipeline which will make transport to market simple.
Also, are other projects continuing, or it it having a knock on effect
until Calvin is in production ?. Is the Calvin deep gas progressing, or
do you have to wait for Calvin to be in production.
I am sure you are doing all you can, but it is worrying to
see market confidence and the share price slip rather dramatically over
these last few months.
One last question, do you still expect Calvin to be
producing by the end of October and the company swing into profit by the ned of
2006 ?
Many thanks for your time, and I look forward to you
reply
regards,
Roger

I e-mailed Tony Mason earlier today re-Calvin,here is his reply

All efforts will be made to meet that deadline. At this stage we are on target.
The Calvin Field is a resource and which within our acreage the recoverable reserve is approximately 155 BCF in the deeper zones and 10 BCF in the shallower zones. We therefore view Calvin as very substantial onshore asset and are approaching it as an overall asset and not simply a one well play.

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