PPC.L Regulatory News (PPC)

12 Aug 2005 07:00

Meridian Petroleum PLC12 August 2005 12 August 2005 Meridian Petroleum Plc("Meridian" or the "Company") Placing Meridian, the oil & gas exploration and production company with assets in theUSA and Australia, is pleased to announce that it has placed 7,500,000 newordinary shares of 5 pence each (the "New Ordinary Shares") at 10 pence pershare (the "Placing") to raise £750,000 through Westhouse Securities LLP. TheNew Ordinary Shares have been allotted under the Directors' existing authority. Application will be made for the New Ordinary Shares to be admitted to AIM anddealings are expected to commence on 17 August 2005. Tony Mason, Chief Executive of Meridian, commented: "I am delighted by the response to the Placing and welcome our new shareholdersto the company. The Placing proceeds will enable Meridian to complete the firstphase of its business plan and progress more reserves into meaningful cashflow." For further information, please contact: Meridian Petroleum PLC 020 7409 5040Tony Mason, Chief Executive Westhouse Securities LLP 020 7601 6100Bill Staple Citigate Dewe Rogerson 020 7638 9571Martin Jackson This information is provided by RNS The company news service from the London Stock Exchange