Meridian Petroleum signs Orion field lease
LONDON (AFX) - Meridian Petroleum PLC, the oil and gas company with key
assets in the US and Australia, said it has signed a lease on the Orion field,
100 pct working interest, in Oakland County, Michigan.
The company said, based on data from earlier wells, the lease contains a
proven and probable shut in reserve of 3 BCF of gas in place with approximately
2.7 BCF recoverable. The gas content is pipeline quality after treatment and
also contains condensate.
It added it expects to begin drilling operations early in the second quarter
of this year.

Meridian Petroleum (AIM: MRP), the oil & gas company with key assets in the USA
and Australia, announced on 24 January that its Calvin 36-1 well on the Calvin
Field, Winn Parish Louisiana (80% WI), had encountered a substantial gas show in
the Sligo Petit Zone. The well was flowed on a limited open hole test with a
25/64 inch choke in excess of 1mmcfpd.



Based upon the analysis of previous production data from the Sligo Petit Zone,
the Company anticipates the following break down of the gas and condensate mix -
Carbon Dioxide 3.14% to 11.66%, Nitrogen 3.75% to 5.28%, Methane 76.97% to
83.11% and Propane 0.95% to 2.36%.



Due to the default and non consent of the original owner of the Calvin lease,
Meridian's Net Revenue Interest will increase to 67.75% from 60% until a
significant financial penalty is paid through the increased production revenue.



Meridian is moving ahead as quickly as possible to complete the well and
commence production into the nearby pipeline.





Anthony Mason, Chief Executive of Meridian said:



"We are very pleased with the likely rich condensate content of the Calvin well
which will enhance our revenue from the field. While unfortunate, the previous
lease owners default increases Meridian's revenue share enabling costs to be
recovered more quickly."

Tonker, I will be getting back into TFC very very shortly, they are going to rocket very soon, like next thursday, but hey, i may be wrong, wont stop me buying 500k in there, NU deal about to explode

Do not trust you

ok tonker, you can watch me ;-)...

thats me dribbling if you wondered, getting very rich ;-)

You are false

;-)

am i thou

Received this evening:

________________________
Dear Sir,
You are correct in your assumptions. I will be in London on Monday and as matter of course we meet regularly with our reserve engineers. I can assure you that we are moving as rapidly as we can, please be patient. News is forthcoming and there will be a further update very soon. It is my belief that the problems of 2005 are firmly behind us and that 2006 will be a very good year for the company. I appreciate your continued suuport and of course I will be delighted to take your call.

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

so what time do you lot think the rns will come today 11am or 3pm

i think you are a ramper, anyone thinking of buying this share should do own research... the above communication is almost 100% false.... if not please forward it on to me...

Tonker , Katcenka and Potatohead are thought to be the same person , even if they are not , they both talk equal quality of s**t

Was it not Katcenka that ramped MIL

Don't know .Never been in MIL

news out anytime soon today

I'm sure... this was said yesterday, and it did not happen...

Tony in UK on monday

NEWS OUT NOW, potatohead , everyone knows you are a loser.

You are acting like you know him... "Tony in UK on monday". Coments like this are ramps... WARNING- DON'T GET RAMPED !!

he says it so often that it is going to happen ONE day. although you would have to expect an update soon!- evaluation of australia asset update was due for mid march.

Cry wolf

Looking promising!

uuuhhhh??????