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13 May 2008 09:08
13 May 2008
MERIDIAN PETROLEUM plc
("Meridian" or the "Company")
Orion sets new daily gas production record
Meridian Petroleum (AIM: MRP), the US-focused oil and gas exploration and production company, announces that its Orion 36 well has set a new daily gas production record of 5.37 mmcfd.
Following acidisation of the well in late April, there was an encouraging build-up of production and flowing well-head pressure. Over the past few days production has significantly increased, to an average of some 5 mmcfd. Flowing well-head pressure remains at around 900 psi.
Average production over the first 11 days of May was 4.6 mmcfd with a peak rate so far of 5.37 mmcfd.
US gas prices remain strong and the Company is currently receiving prices in excess of $12 per mcf.
Ed Childers, the Company's Chief Operating Officer, who meets the criteria of a qualified person under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.
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For further information contact:
Meridian Petroleum Plc
Stephen Gutteridge, Chairman
+44 (0) 20 7811 0140
Ambrian Partners
Tim Goodman
+44 (0) 20 7634 4711
Parkgreen Communications
Erica Nelson
+44 (0) 20 7851 7480
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