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Meridian Petroleum PLC (MRP)     

espaceman - 04 Apr 2006 07:18

News you've all been waiting for ...

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

chav - 07 Feb 2008 14:05 - 456 of 741

If the price isn't right,then no deal.

Tau Ceti - 07 Feb 2008 14:20 - 457 of 741

Andy, not saying bid will come in at 35p just that I will not accept any below that price. I would rather that Mr Gutteridge continued to run Meridian if I don't see that price.

required field - 07 Feb 2008 14:53 - 458 of 741

It's pretty obvious that the bid is going to have to be in the upper teens at least to please anybody, and I can't help but feel that it's going to be turned down !, could be a mini BUR situation here with 2 bidders like ENI and the Koreans going head to head : if this is so then the sp could surge forward in days to come !.

m12rtn - 10 Feb 2008 12:07 - 459 of 741

REMEMBER

It's 50+% to take control of the company and 90+% to compulsorily purchase shares from those who have not taken up any offer.

required field - 11 Feb 2008 22:55 - 460 of 741

Well !, my plan that the sp would carry on rising has not worked, a question : who did RAB sell their stake to ?, that might give an indication as to who one of the bidders might be ?

hlyeo98 - 12 Feb 2008 07:50 - 461 of 741

Nothing goes up in a straight line

chav - 12 Feb 2008 08:10 - 462 of 741

Meridian Petroleum PLC
11 February 2008


11 February 2008


MERIDIAN PETROLEUM PLC
('Meridian' or the 'Company')

Holdings in Company


Meridian Petroleum plc was notified that following a purchase of ordinary shares
of 5p each in the Company on 6 February Mr T Markham now has a total beneficial
interest in the Company of 2,900,000 shares, representing 3% of the Company's
issued share capital.

Andy - 12 Feb 2008 11:48 - 463 of 741

m12rtn,

Don't forget Tm and his ex wife own 24%!


required field,

There are a LOT of people that would not be pleased at a high teens bid, many are holders from much higher up.

I personally think 15p would do it, but IF there is more than one bidder, it may go a little higher.

Oakapples142 - 12 Feb 2008 14:49 - 464 of 741


15p would result in a small loss for me. I see this one dragging on and with a gradual but small drop in SP. Time for me then to buy more in order to reduce cost of my average holding.

W1zzard - 12 Feb 2008 18:06 - 465 of 741

you would be lucky to get orion for 15p

chav - 12 Feb 2008 18:27 - 466 of 741

15p is an insult!

scotinvestor - 12 Feb 2008 23:27 - 467 of 741

cynic will give u 5p for it....lol....or was it 3p?

cynic - 13 Feb 2008 07:10 - 468 of 741

not sure what this is all about, but the phrase is, "I wouldn't give twopence!"

hlyeo98 - 13 Feb 2008 19:38 - 469 of 741

no...it's tuppence

cynic - 13 Feb 2008 19:41 - 470 of 741

or even a brass farthing, but yes you must assuredly be correct

required field - 17 Feb 2008 16:05 - 471 of 741

Not quite sure what to make of all this, good news and bad news !

required field - 28 Feb 2008 16:34 - 472 of 741

This stock never does what you think it is going to do, drops like mad with a takeover bid, now rises, why ?

chav - 29 Feb 2008 14:39 - 473 of 741

Must be some half decent news about to come out,maybe today or Monday.
Milford update must be the most likely news now that the sulfatreat change over is complete. According to the RNS the crew was going to move onto Milford after this was completed and Orion back up to full flow. The cash is still rolling in at $1mill a month and the gas prices looking to hold up for a while yet!

Tau Ceti - 29 Feb 2008 15:12 - 474 of 741

Correct. Milford underway and gas price in excess of $9 is good news for MRP. Mind you, the oil price could be equally of interest with regard to Milford.

chav - 29 Feb 2008 16:23 - 475 of 741

Be interesting to see what oil there is at Milford and flow rates,so long as it does'nt cause problems.
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