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

Wings come off for the moment!!

I need a prayer rather than wings to get my money back on this .. :-(

In my case a miracle's required :o((((

Nice 20% rise for the day. Can understand anyone who has brought in higher up not being to excited yet but look around and there is some rerating taking place.ie EME. I think that anyone who as brought in at up to 40p should remain confident of getting it back before to long. The income stream from Orion has gone from strenght to strenght which should underpin MRP's future at 500,000 per month. Should be news on Milford test this week.

Wings are back on and flying again on very little volume! News leakage??

Still flying steady despite small wobble.

back to that miracle again being required.....glad i resisted buying

back to that miracle again being required.....glad i resisted buying

At least for MRP it is only a small miracle required unlike other small cap oilers and they are still producing $1,000,000 month to keep the wolves from the doorand no debt.

13 May 2008

MERIDIAN PETROLEUM plc

('Meridian' or the 'Company')




Orion sets new daily gas production record




Meridian Petroleum (AIM: MRP), the US-focused oil and gas exploration and production company, announces that its Orion 36 well has set a new daily gas production record of 5.37 mmcfd.




Following acidisation of the well in late April, there was an encouraging build-up of production and flowing well-head pressure. Over the past few days production has significantly increased, to an average of some 5 mmcfd. Flowing well-head pressure remains at around 900 psi.




Average production over the first 11 days of May was 4.6 mmcfd with a peak rate so far of 5.37 mmcfd.




US gas prices remain strong and the Company is currently receiving prices in excess of $12 per mcf.




Ed Childers, the Company's Chief Operating Officer, who meets the criteria of a qualified person under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

$60K + condensates daily from orion and the sp still only 7p! F*cking maddness.

tony mason has alot of shares...wonder if thats the reason

It could also be to do with the fact that this income level is not sustainable in the medium term. I believe the net interest goes down to around 50% in a few months time. The reserves booked are just 2-3 yrs production. It is all from a single well. If anything happens to it they are f'cked. They need to get other projects on the go!!

Net interest goes down to 54.589% after the pay back of $4m in costs. Orion is still increasing it's flow rates and has a high chance of having it's booked reserves increased. Once pay back of the $4m is achieved next month, MRP are looking pretty in the bank for their small M cap and will still be earning aprox $1.3m/month @ 54.589%,providing flow and gas price remain the same. The big question is what will they invest all this money in and when.

CORRECTION...MRP earning net $1.3m/month now and will get net $1m @54.589%/month after payback.

chav,

But until they develop other assets, they only have one producing well, and that makes the risk higher.

The development of other assets will cost, and you have to consider how long the current well will run before the pressure starts to drop.

I have no doubt that they are working on a way of developing Calvin Deep alongside a new partner. News will be released in due course.

Tau,

And do you have any ideas of the cost of that development?

Yes, I do. It is manageable with the right partner / terms and on a well by well basis.

Andy... Correct they do have only the one producing asset at the moment however that asset is making a lot of money for MRP related to Market Cap and all of these small oilers have to get the first asset online and earning before the 2nd,etc. The fact that they are making sufficent money for the bank to pay for the next project without coming to the market is a massive plus to me and them. Like any other gas/oil well,Orion will lose pressure and run out however at this stage the pressures and flows are still increasing and it will pay back it's costs in June,then in profit. Initially Orion was only expected to flow at 2.5mmcfd however it is now at more than twice that rate therefore a high chance of having it's reserves upgraded.