espaceman
- 04 Apr 2006 07:18
News you've all been waiting for ...
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
hlyeo98
- 02 Apr 2007 08:18
- 161 of 741
MRP is moving upwards now.
hlyeo98
- 18 Apr 2007 17:56
- 162 of 741
Good news...
Meridian Petroleum PLC
18 April 2007
Meridian Petroleum plc
('Meridian' or the 'Company')
Australian Native Title Agreed
Meridian Petroleum PLC (AIM : MRP), the gas and oil production and exploration
company with assets in the US and Australia announces the successful signing of
the Native Title Agreement that allows the Petroleum Exploration Licence ('PEL')
132 in relation to the Dolores Prospect in the Arrowie Basin, South Australia to
be offered to Meridian.
In a ceremony held in Adelaide on Tuesday 17th April, Mineral Resource
Development Minister Paul Holloway officially signed the Native Title Agreement,
allowing the grant of the new PEL 132. The Native Title land access agreements
were concluded pursuant to the Commonwealth Native Title Act 1993 between
Meridian Resources Pty. Ltd., the native title claimants (Adnyamathanha people)
and the South Australian Government through the Right To Negotiate process
In a news release the Minister has stated: 'The Arrowie Basin deal is the first
time that the Adnyamathanha people have signed a land access agreement for
petroleum exploration, subsequent development and production, and I congratulate them,'
Tony Mason, CEO, Meridian, has commented 'This is an extremely significant event for Meridian as it marks the end of 3 years of hard work by the Company to reach this stage. Now that we have the Native Title agreed, we will continue with
developing the operational plan and assembling the team for drill testing to
begin in Q4 2007.'
The ECL Scott Pickford reserve summary on the Dolores prospect gave a P2
Prospective Resource volume of 540 Bcf GIP. The Dolores resource is located
approximately 40 km from the Moomba to Adelaide pipeline.
cynic
- 18 Apr 2007 18:51
- 163 of 741
haven't followed this stock for ages, but an interesting chart
always provided sp does not plunge through 25+50 dma (coinciding now) and 200 dma at 20 .... it shouldn't! .... that being so, expect decent support here and thus effectively a pretty good buying opportunity, thoug the more cautious may want to see a decent bounce first.
maestro
- 18 Apr 2007 19:17
- 164 of 741
will open 26p tomoro>>>>>>32p close
myway
- 19 Apr 2007 11:40
- 165 of 741
Great news for Meridian Petroleum as they sign an agreement with the Adnyamathanha people that allows the Petroleum Exploration Licence in relation to the Dolores Prospect in the Arrowie Basin, South Australia to be offered to Meridian.
Details can be found at shareclubuk.co.uk the agreement will allow Meridian to
develop the operational plan and assembling the team for drill testing to begin in Q4 2007. The ECL Scott Pickford reserve summary on the Dolores prospect gave a P2 Prospective Resource volume of 540 Bcf GIP. The Dolores resource is located approximately 40 km from the Moomba to Adelaide pipeline.
myway
- 30 Apr 2007 11:32
- 166 of 741
Meridian Petroleum, operations update come with a shed load of information. Money in the bank. Brammer had over-billed Meridian by some $89,953.22. its a sad state of affairs when Meridian could only get there money through legal action. The full report can be found at shareclubuk.co.uk. The demand for Oil and Gas is always strong.. With oil prices on the brink of increases which will benefit both Meridian and there investors.
oilyrag
- 30 Apr 2007 13:21
- 167 of 741
their investors
cynic
- 30 Apr 2007 13:23
- 168 of 741
market severely underwhelmed ..... if sp does not bounce off 200 dma, then holders could be taking a(nother) bath
Big Ted
- 30 Apr 2007 13:31
- 169 of 741
its an oil/gas minnow... aaaaaaaargh
*runs for cover*
hlyeo98
- 14 May 2007 08:26
- 170 of 741
Meridian Petroleum PLC
14 May 2007
Meridian Petroleum plc
('Meridian' or the 'Company')
Calvin Field Update
Meridian Petroleum, the oil and gas exploration and production company with key
assets in the USA and Australia announces that its Calvin 36 #1 well located in
the Calvin Field, Winn Parish, Louisiana has undergone treatment to prepare it
for gas production.
On Tuesday 8 May the well was treated with a nitrogen wash to remove any
potential obstructions to gas flow in and around the area of the slotted
liner by the producing zone within the well bore. The treatment was successful
and some residue was removed from the producing zone area. Additionally, the
resulting gas pressure build up and flow back post the removal of the Nitrogen
was satisfactory for commercial production purposes.
On Wednesday 9 May a swabbing unit was used to remove fluid from the well bore, including the water previously used to 'kill' the well. Again, the resulting
pressure build and flow back of gas from the reservoir were found to be
satisfactory for commercial production purposes, and there appeared to have been
no additional water ingress moving into the well bore.
Swabbing was completed on Thursday 10 May with no additional fluids being
recovered. Given the satisfactory nature of the gas pressure build up and
prospective flow rate, the Company is now in the process of finalizing
arrangements with Smith Operating of Shreveport, Louisiana to tie the well into
the local Calvin Field gas processing and transportation system.
The gas contains approximately 10.187% CO2 and so must be processed in order to remove the CO2 before it can be sold into the grid. The Calvin Field gas
processing and transportation system includes a CO2 knockout facility, and so
will provide the quickest and most efficient processing of the gas and removal
of the CO2.
Tony Mason, Chief Executive Officer stated, 'The final steps towards getting
Calvin 36 #1 into production are now in place, and we are on target to meet our
stated goal of production in the second quarter of 2007. Our next challenge is
to exploit the gas in the deeper zones of the Calvin Field.'
Art Davis of the West Mountain Operating Company in Longview, Texas meets the
criteria of a qualified person under the AIM guidance note for mining, oil and
gas companies, and has reviewed and approved the technical information contained in this announcement with respect to Calvin 36 #1.
myway
- 18 May 2007 09:24
- 171 of 741
Positive news in from Meridian 14th May. The final steps towards getting
Calvin 36 #1 into production are now in place, we are on target to meet our
stated goal of production in the second quarter of 2007.
The response from the markets were that the SP has traded down which continued the trend of the last few weeks. The boys and girls at shareclubuk.co.uk were in profit but now we are out of pocket. Posters are there any underlying reasons why the fall in the SP should take place? If so can you let the club know? Or is it the MM adjusting, before production starts, which in-turn should be followed by a SP hike? By the way was yesterdays gain of 0.75p the start of a turnaround?
Tau Ceti
- 05 Jun 2007 17:13
- 172 of 741
The market makers just p*ss*d all over investors today by faking buy / sell figures using an offer price way in excess of actual buy price. For anyone interested the actual buy / sell figures were approximately as follows: Buy = 656010, Sell = 537924. The market makers would not be playing these games if this company did not have outstanding prospects coming on line any day now so beware of buy / sell figures you see for the next few weeks. Someone out there is trying to scoop up as many MRP shares as they can get on the cheap. Pity the authorities are too spineless to deal with these people.
maestro
- 05 Jun 2007 19:37
- 173 of 741
why not deal with them ourselves...i'm sure they would take notice of a little gentle persuasion
hlyeo98
- 18 Jun 2007 18:53
- 174 of 741
Meridian Petroleum PLC
08 June 2007
Meridian Petroleum plc
Placing of new shares to raise 1.78 million
Meridian Petroleum, the oil and gas exploration and production company with key assets in the USA and Australia, today announces the successful completion of an institutional placing of new Ordinary Shares in the Company.
Ambrian Partners has placed 16,181,900 new Ordinary Shares at a price of 11p per new Ordinary Share with institutional investors, raising 1.78 million before costs.
The funds raised will be used to continue the development and growth of the
Company in three key areas:
1. Ensuring the successful completion of all activities required to bring the Orion 36; Calvin 36#1 and Milford 36 gas wells into production.
2. Sustaining progress with the development plans for the company's major
assets:
A test well to establish the potential of the Calvin Deep gas prospects
in Louisiana (contingent reserves 58bcf* net)
Acquisition of additional acreage at the Company's Coal Bed Methane
project in Alabama and detailed planning on the pilot project (contingent
reserves 240-390 bcf* net)
Investigation of the optimum approach to drilling on the Dolores prospect
in Australia (prospective reserves 432bcf* net). Possibilities under
consideration include bringing a partner into the project to help with the
funding and technical requirements.
3. Adding technical resources to the Meridian Petroleum team and providing a
solid organisational and governance platform for future growth.
Application has been made for the new Ordinary Shares to be admitted to AIM and
dealings are expected to commence on 13 June 2007. Following the placing, the
number of Ordinary Shares in issue will be 96,430,863. The new Ordinary Shares
will be issued under the existing authorities granted to the Directors.
Additionally, the Company plans to release its preliminary results for the year
ended 31 December 2006 on 26 June 2007.
Stephen Gutteridge, Chairman of Meridian Petroleum, said: 'The funds raised from
this placing will help finance the final stages of our development into
production, and will enable us to plan our capital spending programme to
progress our larger projects in the coming months.'
cynic
- 18 Jun 2007 21:08
- 175 of 741
sorry guys, but this chart is truly horrid .... also look back at comments of 18 april
myway
- 28 Jun 2007 11:08
- 176 of 741
Well I take my hat to them, as they are helping me to make profits, who am I talking about? Yesterdays news from Meridian announcing that three Directors who have purchase a total of 784,528 shares, Stephen Cutteridge non-ex Chairman, Peter Cutteridge non-ex Director and David Wake-Walker non-ex Director, they are all out to make profits, the members of shareclubuk.co.uk were so pleased to read this news as it should lead to profits on their investments. Are you in on the profit run.
cynic
- 28 Jun 2007 11:55
- 177 of 741
though good to see directors buying a decent number of shares t9hough was it merely exercise of option at bugger-all?), i see no reason to jump in .... chart is still horrid and company is a bare notch above the likes of CHP and GOO etc etc
hlyeo98
- 28 Jun 2007 12:40
- 178 of 741
Looks like it is a good bet to get in now. I'm sure the directors got in as the wells are getting hooked up soon.
cynic
- 28 Jun 2007 12:57
- 179 of 741
did they tell you so? ..... do you know that their purchases were at full market price and not just option price? ...... at least the latter is easy to check ...... mind you, even if at full market price, the sum total is barely 100k, so that is still only about 35k each
m12rtn
- 28 Jun 2007 16:12
- 180 of 741
cynic,
Just close the short!!