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

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.

Is that a regular habit of yours in the morning or something special for the weekend?

Nothing wrong with a hard shake in the morning LR2, especially if you're short!

And boy are some people short Chav. Shake away MM's. Chav & I hold hard and long.

STILL ONLY 7P IN OLD MONEY..PATHETIC REALLY

8p actually maestro but you are right that 8p is pathetic given that it got up to 40p pre-production/ELV deal and having 3D indicating 430 million bbls in the ground in Oz.

Shares still seem to be thin on the ground for MM's to sell on:-)

If the buying continues today then could see a significant rise in the sp.

Buying continues...starting to move up.

Quiet time waiting news on Oz JV.

Still quietly waiting!

Still quietly waiting!

Just hang on in there Maggie.

Little rise to start the day off...EK buying yesterday must have encouraged a few more buyers.

Wednesday 14 October 2009




MERIDIAN PETROLEUM plc

("Meridian" or "the Company")

Operations Update

Work programme at East Lake Verret successfully completed

Meridian Petroleum (AIM : MRP), the oil and gas exploration and production company with producing assets in the USA and exploration licences in Australia, announces an update on operations in the USA.
East Lake Verret Field ("ELV"), Louisiana, USA

The planned work programme at ELV involving well work-overs and changes to the production streams has been successfully concluded, and all wells are now back on-stream ahead of schedule.

The work-over of the Kafoury 2 well has been particularly successful. This is the largest producing well in the field and, following the clean-up and re-perforation work, it has been steadily eased up to a gross production level of 3.5 mmcfd of natural gas and just under 70 bbls/day of oil. The well is no longer producing water and production levels will be gently increased over the next few weeks.

Both the McKerall 1 and 2 wells are now producing at expected levels using the compressor facilities available centrally at the field.

Gross oil production from all six wells is now back to levels last seen in April/May, whilst production of natural gas has been restored to July levels even with the Kafoury 2 well on controlled flow-rates.

Production

Production from ELV in September was affected by the work programme and associated shut-ins. Net natural gas production was 10.7 mmcf and net oil production was 1,023 bbls. Over the first eleven days of October net production was 8.9 mmcf of natural gas and 469 bbls of oil. The combined average daily rate of production was 93 barrels of oil equivalent per day ("boepd") in September and 178 boepd in October to date.


The average oil price received for ELV production in September was US$65.19/bbl and the estimated price received for natural gas was just under US$3.00/mcf.

Hedging

The Company's hedging contracts delivered cash gains of US$118,500 in September.

Pushing on upwards :-)

Break past 60p and the SP should be away and running....shares still in short supply for the MM's.

maggie maggie may
be happier today
MRP are looking
to return a good pay.

Chav Chav hurrah
I'm happier today
Have ordered the champagne
Hope it won't be in vain!
Or at least lost it's fizz before I get to celebrate
Keep the posts going!