PPC.L Regulatory News (PPC)

4 Mar 2008 14:11

Meridian Petroleum PLC04 March 2008 4 March 2008 MERIDIAN PETROLEUM PLC ("Meridian" or the "Company") Orion Production Update Meridian Petroleum plc (AIM: MRP), the US-focused oil and gas company, announcesthat its Orion 36 well in Michigan achieved new gas production records inFebruary for both the daily rate and the daily average for the month as a whole. A new record daily production rate of 4.18mmcfd was achieved on 29 February.Monthly production for February totalled over 108mmcf at an average daily rateof 3.73mmcfd, the highest monthly average since production began in August lastyear. Production of natural gas liquids during the month averaged 55bbls/day. Operational performance was exceptional with less than 12 hours downtime in thewhole month, continuing on from the previous month's strong performance. During February, the Company successfully completed a change-out on one of thetwo Sulfatreat treatment towers. Operational experience has confirmed that withthe installation of the polishing sponge, each tower is now individually able toprocess over 200mmcf of gas before a change-out is needed. During the Februarychange-out there were approximately 100 odour complaints early in the process,however Meridian worked closely with the Michigan authorities and tookprecautions to ensure that no further problems occurred. Stephen Gutteridge, Chairman, said: "We have enjoyed an excellent start to 2008 with two months of very strongperformance from Orion. We have always emphasised the importance of safety andthe environment in our operations and I am pleased that we are receiving goodfeedback from the Michigan authorities on the quality of the Orion operation.The Sulfatreat changes can result in odours escaping, and we are continuing ourefforts to minimise future inconvenience to the local community and to help intheir understanding of our business." Ed Childers, the Company's Chief Operating Officer, who meets the criteria of aqualified person under the AIM guidance note for mining, oil and gas companies,has reviewed and approved the technical information contained in thisannouncement. - ends - For further information contact: Meridian Petroleum PlcStephen Gutteridge, Chairman+44 (0) 20 7811 0140 Ambrian PartnersTim Goodman+44 (0) 20 7776 6400 Parkgreen CommunicationsSimon RobinsonErica Nelson+44 (0) 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange