Meridian Petroleum signs Orion field lease
LONDON (AFX) - Meridian Petroleum PLC, the oil and gas company with key
assets in the US and Australia, said it has signed a lease on the Orion field,
100 pct working interest, in Oakland County, Michigan.
The company said, based on data from earlier wells, the lease contains a
proven and probable shut in reserve of 3 BCF of gas in place with approximately
2.7 BCF recoverable. The gas content is pipeline quality after treatment and
also contains condensate.
It added it expects to begin drilling operations early in the second quarter
of this year.

Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, announced on 24 January that its Calvin 36-1 well on the Calvin
Field, Winn Parish Louisiana (80% WI), had encountered a substantial gas show in
the Sligo Petit Zone. The well was flowed on a limited open hole test with a
25/64 inch choke in excess of 1mmcfpd.



Based upon the analysis of previous production data from the Sligo Petit Zone,
the Company anticipates the following break down of the gas and condensate mix -
Carbon Dioxide 3.14% to 11.66%, Nitrogen 3.75% to 5.28%, Methane 76.97% to
83.11% and Propane 0.95% to 2.36%.



Due to the default and non consent of the original owner of the Calvin lease,
Meridian's Net Revenue Interest will increase to 67.75% from 60% until a
significant financial penalty is paid through the increased production revenue.



Meridian is moving ahead as quickly as possible to complete the well and
commence production into the nearby pipeline.





Anthony Mason, Chief Executive of Meridian said:



"We are very pleased with the likely rich condensate content of the Calvin well
which will enhance our revenue from the field. While unfortunate, the previous
lease owners default increases Meridian's revenue share enabling costs to be
recovered more quickly."

Afternoon all,
I`ve just got this reply from Mason, it is not doctored in any way, as those of you who have had the same answer.

Dexter
Masons email address; tony.mason@meridianpetroleum.com
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++


We are evaluating a CBM project currently. Orion and the other assets are all on track and we will inform the market when events become material.

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


--------------------------------------------------------------------------------
From: ****** *******
Sent: Mon 3/6/2006 06:00
To: Information
Subject: BB rumours!


Dear sir/ madam,
would it be possible for you to clarify a couple of points for me ?, as there are, as you are probably aware, many rumours going around various BB`s.

1) Are you currently looking at a CBM project ?

2) Are the projects for which the fundraising was for on track ?
Sorry to trouble you at this busy time, and I do understand that you are not able to disclose price sensitive information.
Regards,
***** *******

16p is target until next news, which is not till next month

absolute crap- obviously not a holder!. this will drift between news releases as expected, i would also expect news much sooner than that.

potatohead - aka bluedolphin - aka katchenka

this is heading to 18p for sure, it will open at 20p in the morning, stop losses will get triggered and drag it down to 18p, then I will step in ;-)

can't wait-

Another brilliant start to the day ...

i know very annoying BUT keep the long term hat on espaceman!.

I will don't worry !

Victory started yesterday, news should be out this afternoon, watch the buyers return as the rumour circles

BUY NOW!!! NEWS IS COMING

thats whats SUEHELEN said on the DMR thread, ......................... we're still waiting!!! oh and suehelen as disappeared out of pure embarrasment, hope you're right, i will get in when i hear what ever it is your waiting to hear.

ph- thanks for that. i have bought some because of your info. many thanks!. look forward to rns this afternoon!.

I may sell my shares today , that way I won't need to go on this thread any more and read such utter sewage from spudhead .

Spudhead, appreciate your posts but yesterday you said, quote:

'16p is target until next news, which is not till next month'

Now can you enlighten today's BB post of news due this afternoon!

i advise people to get in after the news and not before, but that will be your decision!! also looking fowrd to this afternoons news, off out now so eargily awaiting to return to see what it will be. good luck.

yes, I wanted to top up at 20p, so I said a lower price ;-)

but the good news is Victory has now started according to my contact, so I imagine news will be out today, and latest tomorrow, but I reckon it will be today

Tony is in the UK on Monday, I imagine it is to announce the revaluation figures, which obviously will attract a lot of press so he will be present for interviews..

it all looks extremly good

Walter Mitty.

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

I can assure you that at this stage there are absolutely no plans for additional capital raising. All of our near term production targets are moving ahead very well and we will be in a position to make a release to the market very shortly. I do not see any issues going forward. I am not worried by this short term market activity and urge you to take a medium to long term view.

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

i am interested in this stock for many reasons but the australia asset imo could be big- i do believe an update is due mid march!. correct me if wrong?!