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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

Collins Stewart also has price target of 1.38. Bit of a coincidence there. Also well below mine Duc.

Having a rest day today before marching onwards and upwards.

Its still coming! The cat should be out of the bag VERY soon.

stock was difficult to sell yesterday morning but finished the day difficult to buy. What do you believe is coming blue?

the last time MRP hit over 40p,it crashed to 3p...history to repeat?

Hope that cat is getting enough air in the bag!

chav, lol. held steady today. pontiac drilling underway for over a week now, seismic results on the way, exciting but nervous times, good luck, duc.

Please control your nerves ducatiman or the Cat may pick up on it and bolt.

The buying started again in an anticipation of successful drilling of Pontiac.

Fully formed 70p cup by June then Chav?

I think our cup could over flow LR2!

mirage?

I think you are right there cynic....we can see over the horizon and what we can expect to happen.

Mirage, from the Latin mirare, meaning "to look at, to wonder at". This is the same root as for "mirror" and "to admire".

40p after a dry pontiac, 2/3 weeks to seismics, make or break.