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

i leave the drones to do the research as it seems to entertain them.
generally, it is of little interest to me, as my only concern is my perception of whether the share will rise or fall and, when i engage my brain, the risk/reward attaching

if chav and others refuse to heed the warning about sp movements, marketability etc in mini-minnows, that is their prob, and they will almost certainly pay for it, if not here, then elsewhere

If I wasn't making money out of AIM shares then I would most certainly stop trading in them!!..I do find it odd that some spend time on commenting on shares that they have no interest in and have no intention of investing in...I rarely comment even on shares that I am invested in!

you are obviously far clever than 99.5% of other people, so well done .... what you choose to do with your time and money is your biz, just as it is likewise for me

cynic...is a serial doom monging prat..he trolls everywhere spreading his negative shite...for whom i wonder?

maestro .... you have shown your unerring genius for picking "disaster stocks" for the last year or more .... for my part, and as i have regularly posted, i try to cast some cold common sense at some of the ridiculous hype one sees on this BB (not aimed here) and just wish i had enough of my own sense to short (more) stocks when it was indeed obvious ..... as it happens, i am currently short of nothing and long of plenty

Will be interesting to see on the 18th what MRP have done with the profits....payed off a bigger chunk of the ELV loan or kept most of it to pay for the upcoming drilling campaign

I don't know about you but i'll be seeing that on the 15th chav :)

Lol Martinl2...I will take my time to fully understand the big numbers and bigger picture!!

;-) Not long now!!

bluelionking? not long now? Will be a year or two I think before my target is reached.

Looking good today.

What will be announced on the 15th? Is that a drill bit I hear turning. ;-)

credibility suffering a bit here .... it was a bid at 1.50 that was coming any day on 21st March ...... has that now gone by the board? .... actually, has not even been anywhere near it!

Don't worry, its on the way! ;-)

so's the blockbuster order for SEO

As a pre-drill site inspection took place at Pontiac last Tuesday I think you can reliably say that the drill bit will be turning any day now, Lion.

Meridian Petroleum has commenced drilling of the Pontiac prospect in Michigan.

The Company is partnered on Pontiac with Wellmaster and will have an initial working interest of 75%. This will revert to 56.25% once Meridian has recovered its share of drilling and completion costs.

Royalty levels on the Pontiac well are high at 32%, so Meridian's working interest position will translate into a net revenue interest of 51% initially, then adjusted to 38.25% after cost recovery.

Pontiac will be a relatively low cost well to drill and the Company has assessed it as having a 50% likelihood of success. If the well were to become a successful gas producer then similarities to the Company's existing Orion well are expected in terms of gas quality, recoverable reserves (2-3 bcf) and production profile.

However, the peak production rate of 6 mmcfd set by Orion is unusually high for a reef of this type and the Company does not currently anticipate such high peak rates from Pontiac.

Stephen Gutteridge, Chairman of Meridian, says: "We are pleased to have commenced drilling on the Pontiac prospect. The Company has the benefit of nearly two years of production experience at Orion, and with production facilities and a customer already available, completion and hook-up of a successful well should be relatively quick and straight-forward."

About 4 days LR2!!

Yep. More news very soon.

:)