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

Chav, increased by not to 300 million bbls. It's 430 million bbls total. Try an 'in ground' value of say $1 a bbl on that lot and see what share price you might get.

"This brings the total resource estimate for the renewed PEL 82 licence area to 430 million bbls of oil or 630 bcf of gas."


LR2....New glasses!!

Original 150 million bbls confirmed by the 3D and an extra target aquired with potential for another 300ish million bbls.

$1 a bbl on a quarter of that would be very nice for a Company with a Mcap this tiny.

Oh good cos I've a long way to go!

We ARE getting there Maggie, even if it has been a long rocky road!

At a valuation of $1 a barrel prospective resources this would equate to over 16 a share. Would that get you to the end of the rocky road Maggie?

That would put me in the champagne tent beside the swimming pool - with a smile on my face!:-))))))))))))

MRP got close to 2.40 a share on nothing but Mason Bullshit which is probably where you came in Maggie. Present day MRP is a much more solid Company now than then.

Came in at 1.80 ish but took bit of profit leaving the rest for my world cruise. Agree with what you say re company and reckon I will get my money back at least and at best - Bon voyage!!!!

Maybe you can drop off at Oz on the World cruise and have a look at the Oil gusher at PEL82!

Will make it the highlight of my trip!

Interims out on Thursday which should indicate the present health of MRP's economic model.

Should be still healthy with the hedged income from ELV.

Interims as expected and showing that MRP are still trading at a profit.

http://moneyam.uk-wire.com/cgi-bin/articles/200909240700095757Z.html

LONDON (Dow Jones)--Oil and gas company Meridian Petroleum PLC (MRP.LN) Thursday said it swung to a first-half pretax loss on lower production and lower gas prices, and said it is seeking a partner to help develop a potentially major discovery in Australia.

Chairman Stephen Gutteridge told Dow Jones Newswires Meridian is in talks with 15 to 20 potential partners about PEL 82, a South Australia license with prospective resources of 430 million barrels of oil or 630 billion cubic feet of gas - significantly more than it initially expected.

The company now plans to drill two wells at a cost of between $7 million and $8 million to establish the level of reserves, Gutteridge said, and will need a partner to help meet those costs.

Meridian expects to pick a company to work with within a couple of months, Gutteridge said.

The company is also on the hunt for assets. It has a $35 million of credit it can call on to purchase licenses, interests in producing assets or companies, Gutteridge said.

Meridian Petroleum Thursday said it swung to a pretax loss of $1.84 million for the six months to June 30, compared with a profit of $1.32 million a year earlier.

Revenue declined 65% to $3.1 million due to lower gas prices, especially in North America, where it operates fields in Louisiana and Michigan. Lower production also hurt: average daily production fell to 430 barrels of oil from 660 a year earlier. The decline was caused by lower production from the Orion field in Michigan, which is coming to the end of its producing life. Meridian sold its interest in Orion in June.

Gutteridge said despite lower production and gas prices, the company still generated cash and made gains on hedging contracts still in place.

Interesting sp reaction to the Interims today.

Chav, MM's have got no shares left. They may even be short on their books by now. They moved price down this morning to get some sellers but buyers came in instead. Barely able to get more than 1,000 shares on line after 09:15 without having to go through the 'negotiated trade' route.

Bodes well LR2. Hopefully no one will help them out by selling cheap shares that should be worth multiplies of current value.

Looks like the market is catching on to the value of 430 million bbls:-)

And the fact that some of the MM's have no shares on their books.

Lets hope that no one helps the MM's out by selling them some cheap shares,