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."

just flew home at 100 mph to read todays announcement, bit disappointed it hasnt been posted yet but a few hours yet. the share falling as also added the disappointment.

spudhead is probably just a 10 year old who kid who bunks off school and logs on to his parents pc and prats around on here (when he's not sniffing glue)

i got some news __ there was no news today (people seemed pretty certain there would be), tomorrow maybe????

Well I'm in on these ones..... bought 4195 yesterday.. now lets see about this news

Seems to be a big move in prices today.... maybe some news out today, hope so!

news should be definate, earlier post said he had a contact, so it must be so.

news after 5pm

F.O.S as usual

Great rise today, news anytime soon could be a fun ride!!

Can not wait till tommorrow.... Kivver do you have any of these shares?

Tony Mason is in the UK on Monday, BIG NEWS!!! BIG BIG NEWS!!!!, we may get to see it tomorrow, its also Tony's birthday on 15th... so imagine what he will be getting

I must admit that there seems to be a bit of hiking going on at the mo... some of the above posts seem to be a bit sensational... People should always be careful of what they read... Still beleive there is some good ground in these shares though, featured in Shares mag

no tonker, not in these, dont like headings like the one to this thread (not to say it might not be right). I have followed Kat with TFC, and she/he did get it right but it took much, much longer than she/he expected. The PET thread on here and on other bb's taught me not fully trust all this ''news should be with us very soon'' malarky. Good luck to those that are in.

I see Kivver. You seem to offer some good advice... Hopefully i will not fall into another one... What thread do you use the most?

Cheers tonker, most of the shares i have been following and helping to support have progressed very nicely and the biggest part of the rise MAY be over. Particularly like asos (asc), kenmare resources (kmr), wolfson (wlf) Alizyme (azm) risky,

For the long term i like Corus (cs.), iqe (iqe), National Grid (ng) and Morrisons (mrw).

Skypharma (skp) is going through a dodgy patch and not sure which way its going to go. Complete disasters (so far) have been cybit holdings (cyh) and bioprogress (bprg) but still in hoping for the best.

My sharers are
D1 Oils (DOO) risky but could be my best in time,
Miridian (MRP)... wait and see
Dimention Res (DMR)... got done there
Zambizi Nickle (ZNI)... risty but again has good potential
Angle (ANG)... what do you think?

you saucy devil tonker, you like a bit of spice in your deals. I suppose i like to go for the 'safer' sort of share. The ones you have gone for could explode in either direction, make or break. But why oh why did you go near dmr. lol. Suehelens kind of thread is one to stay well clear of. i dont know how she sleeps at night???? she lives in cloud cukukoo land. good luck with all your holdings. ps know absolutly nothing about angle, will have a look for you.

Tonker, I will be getting back into TFC very very shortly, they are going to rocket very soon, like next thursday, but hey, i may be wrong, wont stop me buying 500k in there, NU deal about to explode

Do not trust you

ok tonker, you can watch me ;-)...

thats me dribbling if you wondered, getting very rich ;-)