www.meridianpetroleum.com

http://moneyam.uk-wire.com/cgi-bin/articles/200909240700095757Z.html
http://www.meridianpetroleum.com/admin/News/Docs/2008%20Results.pdf

http://www.meridianpetroleum.com/admin/News/Docs/Operations%20Update%20March%2009.pdf

http://www.oilbarrel.com/news/display_news/article/conference-report-2-petroceltic-international-targets-multi-tcf-resource-in-algeria-meridian-petro/771.html



Producing Oil/nat gas from the ELV field/USA....45% of Oil/Gas produced hedged at $100/bbl and $10.90 per mcf)

http://www.oilbarrel.com/fileadmin/content/pdfs/oilbarrel/presentations/merid%20pres.pdf


Drilling ELV.....Suspended until gain consent for sidetrack...casing and wellhead left in for future re entry

3D Seismics have been shot on PEL82 Otway Basin Australia....results are excellant!
PEL 82 Potential resource increased from 150mbbls Oil tooooooo 430mbbls Oil!



Also trading on Plusmarkets
http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B3DDP128/GBX/PLUS-exn

Should be still healthy with the hedged income from ELV.

Interims as expected and showing that MRP are still trading at a profit.

http://moneyam.uk-wire.com/cgi-bin/articles/200909240700095757Z.html

LONDON (Dow Jones)--Oil and gas company Meridian Petroleum PLC (MRP.LN) Thursday said it swung to a first-half pretax loss on lower production and lower gas prices, and said it is seeking a partner to help develop a potentially major discovery in Australia.

Chairman Stephen Gutteridge told Dow Jones Newswires Meridian is in talks with 15 to 20 potential partners about PEL 82, a South Australia license with prospective resources of 430 million barrels of oil or 630 billion cubic feet of gas - significantly more than it initially expected.

The company now plans to drill two wells at a cost of between $7 million and $8 million to establish the level of reserves, Gutteridge said, and will need a partner to help meet those costs.

Meridian expects to pick a company to work with within a couple of months, Gutteridge said.

The company is also on the hunt for assets. It has a $35 million of credit it can call on to purchase licenses, interests in producing assets or companies, Gutteridge said.

Meridian Petroleum Thursday said it swung to a pretax loss of $1.84 million for the six months to June 30, compared with a profit of $1.32 million a year earlier.

Revenue declined 65% to $3.1 million due to lower gas prices, especially in North America, where it operates fields in Louisiana and Michigan. Lower production also hurt: average daily production fell to 430 barrels of oil from 660 a year earlier. The decline was caused by lower production from the Orion field in Michigan, which is coming to the end of its producing life. Meridian sold its interest in Orion in June.

Gutteridge said despite lower production and gas prices, the company still generated cash and made gains on hedging contracts still in place.

Interesting sp reaction to the Interims today.

Chav, MM's have got no shares left. They may even be short on their books by now. They moved price down this morning to get some sellers but buyers came in instead. Barely able to get more than 1,000 shares on line after 09:15 without having to go through the 'negotiated trade' route.

Bodes well LR2. Hopefully no one will help them out by selling cheap shares that should be worth multiplies of current value.

Looks like the market is catching on to the value of 430 million bbls:-)

And the fact that some of the MM's have no shares on their books.

Lets hope that no one helps the MM's out by selling them some cheap shares,

Still a shortage of shares for the MM's to sell on..pressure building nicely.

Absolutely. And all that buying lately. Just how far underwater are they willing to go before they come up for air.

Dams bursting with every buy.

Yep, it says it all when, day after day, you can only get 1k on line but can sell 50 times or more that amount.

Where's Maggie? Are you out there Maggie putting the champagne on ice?

Never mind the ice!! Hic! They won't be getting any of my shares, looks like I'll break even before I get the zimmer frame. Keep up the good work guys!

Good for you Maggie. I'm after a gold plated zimmer myself. At least 2 MM's short of stock and getting shorter by the day. How on earth are they going to square that circle?

In the immortal words of Damon Albarn -

It's not my problem
It's not my problem
Woo hoo.

maggie topped today .Where is the info for MM if they are short of stock to be found for any share .

It's not made public. You have to follow trades and MM positions very carefully to get a reasonable idea. There are 2 MM's that are attempting to pick up any stock sold by us PI's so that they can balance their books. Of course if you could find a broker with enough contacts at the MM's that would help too.

Its been a long time coming, but it'll be worth the wait. ;-)

Still moving up.....can only see the speed of the SP increases getting faster as we get closer to JV/drilling news....talking with 15-20 interested parties suggests a good deal in MRP's favour.

Bit of a shake on this morning.