Anyone know why everyone seems to be selling?

Thats better news,guess spuds arn't that bad after all...

we will see if sources are correct and mrp double page article are in ic tomorrow?.

i am typing it up just now for you ;-)

still waiting ph!.

crossing fingers tomorrow is rns for

WE ARE ONLINE ;-)

There's nothing in IC about MRP , it's all fantasy - fantasy in Spudhead , head - pure fantasy ...

will this do then

From : oilbarrel.com

17.02.2006
Meridian Petroleum Plans Kitty Litter Solution To Bring Sour Gas Project In Michigan Onstream
Meridian Petroleum has added another 3 billion cubic feet of proved and probable reserves to its portfolio with the addition of the Orion sour gas field in Michigan in the US. The field is home to two wells that were drilled and produced at rates of between 2 and 4 million cubic feet per day during the late 1980s and early 1990s but were then shut-in because of the hydrogen sulphide content of the gas.

AIM-quoted Meridian has submitted a plan to the Michigan Department of Environment to get this gas deposit back into production. The plan, which has been accepted by the DoE, involves a single well and two sulphur treat towers, a facility that is expected to cost between US$1.25 and US$1.5 million.

This is not a huge amount of money given the size of the reserve, the fact its onshore and these are 2P reserves, chief executive Tony Mason told oilbarrel.com.

The sulphur treat towers, about 15 to 20 ft high, are filled with kitty litter type material, which extracts the unwanted gas so that clean gas flows into the pipeline. The end product is biodegradable. This is a neat solution, helped along by the fact the planned well site lies in old industrial ground next door to a major gas line. The project economics are also enhanced by reasonably rich condensate content of the gas, said Mason.

The company doesnt plan to re-enter the existing wells because their position is unsuitable for the sulphur treatment facility and the holes are of uncertain quality. The new well, which the company plans to drill in the second quarter when Michigan begins to thaw, will be directionally drilled, putting the well cost at around $500,000-$600,000. This is by no means a company-making project - Meridian expects the sustained flow rate to come in between 2-4 million cf/d like the previous wells - but it does add further near-term production to the companys portfolio.

The company has a number of these near-term production projects in the pipeline (and, unusually amongst its AIM peers, already enjoys production from its Emery Hudson property in Michigan). These include the Milford 36 project in Michigan, where the company is awaiting the arrival of sophisticated perforation equipment that it has used so successfully on the Calvin field, in order to bring this project to fruition.

The Calvin field is the current star performer in the portfolio, following the recent success of the 36-1 well, which flowed more than 1 million cf/d of condensate-rich gas from the Sligo Petit zone. Meridian hopes to get the field onstream shortly and then plans to re-enter an old well, 35-1, to target the Rodessa zone. It is also eying previously undrilled deeper zones on the field as well as seeking to add to its position in the Calvin area.

This is proving to be an interesting project and one that is back on track after the frustrating delays of last year. Meridian was not alone in being at the wrong end of the inevitable equipment shortages that are now a common feature of the booming North American market, particularly in the Gulf area, but investors proved impatient and unforgiving. 2005 was, admits Mason, a horrible year from that point of view.

The company isnt a one-country play. It is also active in South Australia, where it is keen to get to grips with the Dolores prospect in the Arrowie Basin once native title has been confirmed. The company has a 100 per cent working interest in the prospect, which is reckoned to hold around 125 bcf of gas and lies just 25 km from the existing Moomba-Adelaide gas line.

Meridian has reprocessed all the original stack data and old seismic lines and hopes to complete its analysis of the original seismic field tapes by mid-March.

Weve had an additional slew of data from the government in Australia, which has been really helpful, said Mason. What we are seeing looks like a pretty significant reservoir although were not sure how we handle it commercially.

It all adds up to an interesting low-to-medium risk exploration portfolio, with plenty of near-term production in train to make sure growth is underpinned by cashflows: sensible and boring in Masons words but one for those who dont have the appetite for the white-knuckle ride offered by some of AIMs wildcatting E&P stocks.

It's a good insight to the company , but its hardly breaking news.

moaning mini

by the way check out the TFC BB

The what ?

on the way up, news coming ??

Post from kulecat on iii yesterday evening:

17:59 Spoke to CEO.. kulecat

.... will be in the office for the next couple of hours should anyone want to phone him (US). As far as he is concerned, evreything is going according to the business plan. The guys on the ground are working very hard. As far as Milford goes, there is no problem. They have been waiting for some equipment for the last couple of days from another State and it will arrive anytime. They are using the same company they used with Calvin and they did 'a great job.' On target to get Calvin on line. Should get some news on Victory soon. Discussed the rumours regarding placing. He has been harrassed all day about this. Apparently some prat started the rumour today. It is wholly untrue. Any fundraising will be for phase 2 of the business plan, will be after the near production assets have been brought online, and will involve their institutional holders only. Said last year was a frustrating year, 2006 is going very smoothly. Very approachable guy - well worth the phone call.

20p please- for starters.

up 4%, news must be on the way.. its looking fantastic, look at the chart

BUY BUY BUY UP 6% news on the way

yes!!! up again 25p today i reckon

dream on ph lets start with 20p which not likely at the moment going the other way now

news out this afternoon, mm's have got wind of it

I am sure of it

something to look foward to (again !!)