PPC.L Regulatory News (PPC)

17 Oct 2007 13:28

Meridian Petroleum PLC17 October 2007 17 October 2007 Meridian Petroleum plc ("Meridian" or "the Company") Orion 36 Production Update Meridian Petroleum (AIM: MRP) announces an update to the market on its Orion 36well in Michigan, in which it has a 75% Net Revenue Interest (NRI). Gas production at Orion is currently averaging over 3.5 million cubic feet perday. Production of Natural Gas Liquids (NGL) remains in-line with expectations,and cumulative sales of over 1000 barrels from stock have been undertaken. Throughout the build-up of production during the past 3 weeks, tubing pressurehas continued to rise and is currently in excess of 900psi. The Company continues to benefit from current high US energy prices of over$7.50 per thousand cubic feet for Natural Gas at Detroit Gate, and over $80 perbarrel for West Texas Intermediate crude oil. The current gross daily value of production from Orion 36 is in excess ofUSD28,000. John Randell, who works for Wellmaster, Inc., is an independent contractor whomeets the criteria of a qualified person under the AIM guidance note formining, oil and gas companies, has reviewed and approved the technicalinformation contained in this announcement with respect to Orion. Ends For further information contact: Meridian Petroleum Plc Ambrian Partners Parkgreen CommunicationsStephen Gutteridge, Chairman Tim Goodman Simon Robinson+44 (0) 20 7811 0140 Richard Greenfield Erica Nelson +44 (0) 20 7776 6400 +44 (0) 20 7851 7480Tony Mason, CEO+1 713 599 1611 This information is provided by RNS The company news service from the London Stock Exchange