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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

Strawbs,

MRP has risen 50% on this news already, so the upside may be liited form here in the short term IMO.

A plane hitting a building in NY (light aircraft) may unsettle the markets too IMO, depending upon whether it's credited to terrorists or not of course.

you guys don't know MRP...WHEN ITS ON A ROLL THERE S NO STOPPING IT..THE NEWS TODAY IS VERY SIGNIFICANT...DOLERES,CALVIN JOINT VENTURE WILL SEND THIS TO 30P TOMORO...TRUST ME

maestro,

The proce is currently DOWN 2.5p!

I actually thought the RNS was poor, they have given away HALF of their asset in order to JV, and there was no mention of Calvin or any update on the other wells, although they have covered that in previous RNS.

Quite clever to announce after hours, MMs ran the price up during the afternoon as the word leaked, and PI's piled in with rampers quoting "shorters closing", and away it went.

Seen it many times before on the boards, and

don't tell me maestro made yet another wrong call!!

Seems to be going back up now. Market makers probably dropped the price to get some stock. Don't think the RNS told us much, but MRP seems undervalued to me, especially with all the assets they hold. In my opinion anyway.

Strawbs.

manipulation thats all...top up opportunity..same as BFC..mm wankers!

andy,
I don't think they have given anything away. I know TM might be a little inaccurate with his announcements, but I don't think he would give it away!
Dexter

maestro,

Easy to blame MMs, but if we are honest, the RNS didn't really say anything new, except they are going to JV Calvin Deep and that entails giving away half the asset, so hardly brilliant news IMO.


Australia "news" was already known, and Calvin 36-1 well is still not producing.

The ramping that accompanied the rise gave it away, and maybe TM has not been as discreet as he should be!

dexter01,

By doing a 50 - 50 JV, half the asset will belong to the other company, that is what I meant by "giving it away".

I know the other company will input finance and experience, but whatever value was previously given to that asset has now halved.

If the other company bring value to the table, it's an ok scenario IMO, many small companies JV to their advantage.

TAKEN FROM ADVFN

I was very frustrated at the sp movement today, so I asked again about the potential of Calvin Deep Gas keeping in mind the constant attempts by one poster to dismiss the figures; my assurance is based on the fact that if what the CEO says is for real the current sp is just a joke

his reply was:

``The Calvin Deep reserve summary by ECL Scott Pickford is not contingent, it is a catagoric P1 and P2 reserve down to but not including the Lower Cotton Valley Troy Lime formation. There are reserves behind pipe in certain cases.
The GIP is 220 BCF with an EUR of 155 BCF. Note this does not include the Lower Cotton Valley which is highly productive.
There are a number of things that will be coming out very shortly, including changes to the board as we move forward.``

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia,

This is more than enough for me to feel confident that we are going to be moving forward very quickly in the near future.

Just received this reply from TM to my e-mail,and by the way it is genuine,not in the habit of posting false e-mails.

Work is on going and I will leave it at that. This ludicrous speculation is caused by persons on the BB who are probably not even shareholders. We will have news fairly shortly.

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641



-----Original Message-----
From:
Sent: Tue 10/31/2006 04:19
To: Information
Subject: CALVIN 36-1

I and other investors are rather concerned about the completion of the above,is everything still on track,or has work not started yet, as some investors are trying claim?

--------------------------------------------------------------------------------

DT.. toldya calvin wouldbe up by the end of october..

Mason has lost the plot...another guy for burning

just got this from TM's office.
Dexter

sorry if an email offends PP, but it is relevent to MRP and that is what the thread is for. I DO NOT post fake emails..........



_____________________

Wrong. Jv is not connected to 36 #1. The JV covers deep and shallow as
the field is treated as a development resource and thus our approach is
developmental for all zones.

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641



-----Original Message-----
From: ****** ****** [mailto:******.*****@btopenworld.com]
Sent: Fri 11/3/2006 09:42
To: Information
Subject: JV etc.

hi Tony,
am I right in thinking that the hook up and production of
Calvin 36-1 will not take place until the JV is signed and sealed, as in
the RNS it was stated that a 50-50 jv would cover Calvin deep and
shallow
I look forward to your reply
Roger*******

guys Calvin wont be up this month either.. something is very wrong, you should make TM account for all his rns's that clearly were no where near accurate re the hook up.

I am sorry to say, but back in July (post 93 I think), I wrote, "It's fine getting excited at prospects, but in the energy game the anticipation is far too often better than the arrival - e.g. Calvin was recently touted as the big company-maker, but it is clearly (I think) very far from that "

Looks like I may well have been right

Mason's month is a jupiter month...i.e 1 year...the man is a masonic fraud

just got this from TM's office
Dexter
PS.... yes, it is genuine!
PPs........ we have a new word MINIMAL

-------------------------------

Anthony J. Mason,

CEO Meridian Petroleum PLC
Meridian Resources, USA, Inc
Meridian Resources Australia, Pty
(T) 713-599-1611
(C) 713-201-6883
(F) 713-552-1641
a workover rig is booked for the 36 #1 well.
The time scale for production will be minimal once the well is
completed.
The Calvin Field JV will be finalized this week based on lawyers doing
as they are supposed to.


-----Original Message-----
From:****** *******[mailto:******.*****@btopenworld.com]
Sent: Mon 11/6/2006 06:58
To: Information
Subject: Calvin

Hi Tony,
I have a couple of points that I would like you to clarify
is the situation at Calvin anywhere near completion, as
the anticipated date of the end of October is now long gone.
Is there any truth in supposed emails that you have sent saying that a
rig is booked for Calvin ?
If this is the case surely it will still be some considerable time
before it would be producing. After all you have set a number of deadlines
throughout the year.
I would really appreciate it if you could clear these couple
of points up.
I look forward to your reply
Roger *******

on the basis of Dexter's post, i now have a couple (three seemingly!) of questions .....

1) How much is known about the production capability of the Calvin site?
2) How long will it take to complete the well?
3) Am I singularly dense, or will it not take 3/4 months to evaluate the flows, quality etc even when the well is completed?

http://www.oilbarrel.com/home.html

07.11.2006
Meridian Is Looking For Big Step Ups By Drilling The Deeper Horizons Of Its Gas Assets In Louisiana, Exploiting Its Coal Bed Methane In Alabama And Developing Its Gas Acreage In Australia
Meridian Petroleum, which is listed in London, is one of a number of junior exploration and production companies which have focused primarily on the US partly because there is low sovereign risk, but mainly because high oil and gas prices have presented opportunities for smaller companies which did not exist before.

All over the US there are pockets of oil and gas which were discovered by large and medium sized companies but not exploited by them because they were considered too small or not material to their needs. With gas prices touching US$12 per thousand cubic feet at one stage and oil prices still high at US$58 a barrel, small companies can turn a handsome profit by developing pools with reserves of a few billion feet of gas or a few million barrels of oil. They are mostly low to medium risk, in the sense they have already been discovered. Add in the facts they are onshore and there is good infrastructure to transport any output, they are usually low cost too.

Meridian, which floated on Londons AIM in July 2004 raising 2.3 million and as at October 31 2006 had a market capitalisation of 13.27 million, has assembled a growing US portfolio with assets in Michigan, Louisiana, Alabama and Mississippi.

Its model has been, like other small cap companies, to establish some production to keep the lights on as the phrase goes in oil circles and then think about bigger targets. There is some output from the Victory 1-21 well in Michigan of which Meridian has 10 per cent. Production is around 250,000 cubic feet a day, so 250,000 cubic feet a day may not sound much but it all helps. Also the Calvin 36 # 1 well in the Sligo Petit formation in Louisiana tested 1 million cubic feet a day and should be on stream this month. Meridian has a majority share holding in this well.

Were Meridian to pursue what it calls its small assets developments then it has several million cubic feet a day of near production in its sights. There is another prospect in the Calvin 36 well in a different zone which could mean 2 to 4 million cubic feet from there. The Milford 36 well could produce an extra 1 million cubic feet a day on top of the 1 million cubic feet a day expected, the Victory 1-21 well could produce 1 million cubic feet a day and the Orion field could come in with 4 million cubic feet. Meridian has Net Revenue Interests (NRI) in these fields ranging from 10 per cent to 67.75 per cent.

However, while these projects could and possibly will come to fruition, Meridian has decided to go quickly for a possibly big step in output with what it calls a primary project. It has secured the rights to exploit the deep reservoirs of the Calvin field. The company already understands the potential of the shallower horizons, the Sligo Petit and Rodessa formations, which go to depths of around 8,432 feet.

But it seems the real excitement in the Calvin field lies deeper in the Jurassic Lower Cotton Valley Formation in which Meridian now holds a 70 per cent net revenue interest. The formation is made up of four reservoir intervals: the Knowles Limestone, The Terryville A&B sandstones, the Calvin A&B sandstones and the Tory Limestone. These sands are productive for other players in the area including Anadarko Petroleum, which earlier this year described its Vernon field, some 40 miles to the north and on trend, as a sleeping giant with proven reserves of 1.4 trillion feet of gas.

The Calvin field is probably not this big. A previous operator, Fina, put the reserve number in the Calvin field at 300 billion cubic feet but this seemed optimistic. A report by independent reservoir engineers ECL Scott Pickford put the gas in place from three of the horizons but not the deepest, the Troy Lime, at 220 billion cubic feet in place with some 142 billion recoverable. (The Troy Lime at levels of 14,560 feet could have huge reserves but Meridian is not going to exploit these just now.) The bulk of the reserves are in the Terryville sands. Gas in place here is put at over 100 billion cubic feet with around half recoverable. Drilling will not be simple, however. The reservoir is over pressurised and it is not clear that re-entry will be possible. If it is not, Meridian will have to farm down some of its 70 per cent interest to a medium sized partner to share the cost.

Still and all, 220 billion gas in place is a lot of gas for a small company to contemplate. But this is not all. There is the Warrior Basin coal bed methane project at West Sipsey in Alabama covering 50,000 acres and four coal seams. There is thought to be 463 billion cubic feet of gas in place with 242.5 bcf to 389.4 bcf recoverable based on minimal coal saturation levels. Pilot drilling could take place in first quarter 2007.

In Australia Meridian has its Dolores project which involves a 100 per cent interest in four licences in the Arrowie Basin and 100 per cent in one licence in the Otway Basin. Reserve potential has been put at 543 bcf of gas in place with 463 billion recoverable. The company is looking for a farm out partner for one of the Arrowie licences and hoping to drill in Q1/Q2 2007. Meridian is thus sitting on potentially nearly 1 trillion cubic feet of gas.

Of course it will take time to realise the potential even if all goes well. Only the drillbit will tell in the end. In the meantime there are Native Title issues to be sorted in Australia and partners to be found for Calvin.


Rodders