PPC.L Regulatory News (PPC)

4 Feb 2005 15:09

Meridian Petroleum PLC04 February 2005 4 February 2005 MERIDIAN PETROLEUM PLC ("MERIDIAN" or the "COMPANY") MANAGEMENT APPOINTMENT Meridian today announces the appointment of Mr Peter William Fleming, aged 43,as Director of Finance of the Company with effect from 28 February 2005. Mr Fleming has over 13 years experience in acquisitions and divestments,business development, strategic planning and investment evaluation in thenatural resources and banking industries. Mr Fleming joined Banque Indosuez in 1986 where he was involved in financialanalysis and project financing following which he joined Bridge Oil Limited,Sydney in 1992. Mr Fleming joined BHP Billiton in 1993 where he worked in anumber of leadership positions in Australia and the UK, the most recent of whichwas in Acquisitions and Divestments at BHP Billiton Petroleum's office inLondon. He holds Masters Degrees in Finance and Business Administration fromMacquarie and Auckland Universities respectively. Anthony Mason, Chief Executive of Meridian said: "I am delighted that Peter is joining Meridian. His experience in the financialevaluation of exploration projects will be particularly valuable and I lookforward to working closely with him." Enquiries: Meridian Petroleum (020 7409 5040)Tony Mason, Chief Executive Citigate Dewe Rogerson (020 7638 9571)Martin Jackson W.H. Ireland Limited (020 7397 3000)Peter Jackson Notes to Editors Meridian's principal activity is to seek to invest in, and to operate oil andgas exploration and production properties in the USA, Australia and elsewhere.To date, the Group has acquired interests in eight properties. The Group's strategy is to build a portfolio of oil and gas production assetswhich have the capacity to provide sustainable cash flow to fund explorationprogrammes and provide an early return on investment. Meridian Petroleum raised £2.3 million, principally from a placing, andcommenced trading on AIM on 20 July 2004. It is intended that cash flow fromproduction, together with the proceeds of the placing, will be used to fundlarge scale exploration activities in Australia and elsewhere, to locate andexploit prospects which have the potential to yield substantial oil and gasreserves and to begin further production. Meridian has established its head office in London and a corporate office inHouston, USA and has a representative office in Adelaide, Australia. TheGroup's management team has extensive experience in the financing, explorationand development of oil and gas assets in the USA, Australia and elsewhere, withover 80 years of combined experience in the oil and gas industry. This information is provided by RNS The company news service from the London Stock Exchange