Meridian Petroleum PLC
14 February 2006


14 February 2006


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

ORION LEASE SIGNED


Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, today announces that it has signed a lease on the Orion field
(100% Working Interest) located in Oakland County, Michigan.

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.

The Niagaran reef was previously drilled in the late 1980's and early 1990's but
was shut in due to hydrogen sulphide emissions and the absence of appropriate
treatment technologies. Meridian's proposed use of 'sulphur treat' towers, a
technology now widely used for this type of gas treatment has been accepted by
the Michigan Department of Environmental Quality (DEQ).

Flow rates on the previous wells averaged between 2 to 4 mmcf per day plus
condensate and Meridian anticipates achieving similar flow rates from its
proposed new well location. The bottom hole location of the new well will remain
the same as the previous wells but will be accessed from the surface via a
directional drilling leg.

The proposed new well location is on a partially used asphalt pit adjacent to a
major gas pipeline.



Anthony Mason, Chief Executive of Meridian said:

'We are delighted to have signed up this significant shut in gas reserve in
Michigan State. Subject to permitting and equipment availability, we expect to
begin drilling operations early in the second quarter of this year.'



Enquiries:

Meridian Petroleum (020 7409 5041)
Tony Mason, Chief Executive

Westhouse Securities (020 7601 6100)
Richard Morrison

Just realised there are two Meridian threads running at the same time. As the other is already entitled MERIDIAN PETROLEUM your thread may be overlooked if you don't have MERIDIAN in it somewhere. No offence meant - just trying to be helpful.