positive statement14 Mar 2006 11:42
MRP - transcript of yesterday's release ......
Meridian Petroleum PLC said it plans to start work on the Milford 36 well, in which it has a 25 pct interest, soon after frost law restrictions, which limit the movement of heavy equipment and are in place in certain Michigan counties, are lifted.
Elsewhere in the US, work on deepening the Victory 1-21 well, where it has a 10 pct stake, started last Monday and is proceeding as scheduled, although it is also being restricted by the frost laws.
Work on Calvin 36-1, where it has a 80 pct working interest, is on schedule and will start in the week of March 27, while the company expects to begin drilling operations in the second quarter of 2006 on wholly owned Orion.
In Australia, the company said it is awaiting results from its Australian lawyers on its native title applications and has been advised to expect a positive outcome within the next few months.
With the price having drifted off a little today, take the opportunity to top up or get in as the case may be