PPC.L Regulatory News (PPC)

27 Feb 2007 07:02

Meridian Petroleum PLC27 February 2007 27th February 2007 Meridian Petroleum plc ('Meridian' or the 'Company') Orion Well Update Meridian Petroleum, the oil and gas exploration and production company with keyassets in the USA and Australia, announces further details of well testing atthe Orion site in Michigan. Further to the Company's announcement dated 22 February 2007, comprehensiveBottom Hole Pressure (BHP) data has now been obtained for the Orion 36 well(Meridian 75 per cent. net revenue interest) located in Oakland County,Michigan. The BHP readings were as follows: BHP 1,548 pounds per square inch(PSI); on flow with a 3/64 inch choke at 1,533 PSI. The pressure readings are inline with the BHPs achieved by the original Fons and Jacobs wells. Analysis completed by Southern Petroleum Laboratories Inc. demonstrates that theHydrogen Sulphide (H2S) content at Orion is 0.21%. The gas BTU content is 1,098on a dry basis and 1,079 on a wet basis. These results reveal that once the H2Sis removed, Meridian will have pipeline quality gas at the Orion 36 Well. Tony Mason, Chief Executive Officer stated, "The Company is currently movingahead rapidly with the tie into the CMS pipeline and the construction of the H2Sremoval facilities on site. Based on the BHP data, we anticipate that the flowrate will be in excess of the Board of Directors' expectations for Orion." John Randell who works for Wellmaster LLC, and Southern Petroleum Laboratoriesare independent contractors who meets the criteria of a qualified person underthe AIM guidance note for mining, oil and gas companies, have reviewed andapproved the technical information contained in this announcement with respectto Orion. Ends For further information contact: Meridian Petroleum PLC Ambrian Partners Parkgreen CommunicationsTony Mason Neil Maclachlan Victoria Thomas+44 (0)20 7409 7233 +44 (0)20 7776 6400 +44 (0)20 7851 7480 Notes to Editors About Meridian Meridian is an oil and gas exploration and production company with key on-shoreassets in the United States and Australia. Meridian is quoted on the AIM marketof the London Stock Exchange (ticker: MRP), and is headquartered in London, withoffices in Houston, Texas and Adelaide, Australia. This information is provided by RNS The company news service from the London Stock Exchange