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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

Where is MRP going now?

Chav,

How can she be locked in when there is a get out clause?

The clause was put there for a reason!

If she was happy to be locked in, why is there a get out clause?

(save in certain limited circumstances)

I dare say there is a reason for it but if it happens,then only in "certain limited circumstances".

Nice little rise today which hopefully will turn into more gains in the coming week.

50% of the spread even!

Oversold and due a bounce.

this is yet another crap E&P company .... it hasn't just run into some bad luck or similar .... the chart tells it all .... if sp crawls up to 7/8p in the immediate future, where it hits 25 dma it will be doing well

It's when it's at the bottom that you take a look, if nothing goes wrong with this company in the next 3 months : it could be a screaming buy !

sp has consistently stayed below 25 dma for a long time, with just the odd brief tease above ..... there's much better choices

Well yes cynic, there are better choices around, like you say it could go to 5p, but with this market : predicting anything is difficult !

dma = don't mean anything

MRP issue a good RNS relating to Calvin,Milford,Aussie etc and the sp will bounce strongly no matter what the chart say's. The main thing that the chart is showing at the moment is that it's at the bottom and with a little good news,bang off up the hill again. Orion is still producing the cash and is the biggest thing at the moment to set it above the other small oiler's.
Spreads of 10% are only a worry for short term traders that play around with tiny gains,if this doubled in price it would still only be at 14p,miles below what it was with no production.

What was the dma saying in 2005 when it last came down to these levels and they never had the very good income stream from Orion when it bounced!

wishful thinking or even pissing against the wind ... i should imagine you are used to many disappointments in life, so will take the next one with equanimity

The trouble with this thread : is that there are 2 kinds of bloggers, one for the short term : oh it's dropping; no good, and the other lot look at the long term ; I think long term this will rise past 10p, if there is a problem with Orion : then it will crash, if in the short term you want to invest in something : look at MRS DGO JKX TLW and a bit more risky with huge possible impact FRR and NPE, but then again want to stay in MRP ? why not ?, could do well this coming year !

I have to add AEX and MTA in the risky section : good luck all, we all need it !

Add my two penneth here, yes fantastic price compared to this time last year, that is until they drop another 50%, why not put your money somewhere thats on the increase and certainly recommend taking note of DMA's... If these start going up on good news there shoud be plenty of time to get in

*damn*

Time as usual will tell however taking notice of a shorter like cynic on a fallen share is just playing into a shorters hand. The tide is on the turn with MRP and as they close and buy back,so the sp will soar.

you do me something of a disservice, but no matter ..... i am not short of this stock .... in fact, as i write, i am short of no stocks nor indices, though wish i had been of MPH whose sp which should be its management has now got its just deserts ...... you need to differentiate between an alternate view or even the statement of hard truth and the often wishful thinking of posters here who hold dud stocks and try to justify their position ..... and if the cap fits, wear it

a final couple of questions ...... if you are already a long term holder, why did you not take profits when they were available? ..... if sp now (say) doubles, will you take profit? ..... if the answer to either or both is no, then how do you justify that, especially in answer to #1? .... or will you own up to being a total ass for not doing so?

I sold out on the last rise at 28p having brought at 10p,not being one to push my luck I didn't hold on for the 40p...tit! If the sp doubles from here I shall hold on into the twenty's again before top slicing,depends on how strong the rise is as to what to do come the time. The main factor for me is that with MRP's income stream from Orion ,they are undervalued and should'nt fall much more, if at all.