PPC.L Regulatory News (PPC)

9 May 2005 09:00

Meridian Petroleum PLC09 May 2005 09 May 2005 MERIDIAN PETROLEUM PLC ("Meridian" or "the Company") Spudding of Two Wells in Michigan Basin Meridian Petroleum, the oil & gas exploration and production company with keyassets in the USA and Australia, today announced the spudding of its Milford 36well, located in Oakland County on the prolific Southern Reef Trend in theMichigan Basin, USA. In July 2004, Meridian announced that the 27B well, on the Emery Hudson licenceon the Northern Reef Trend in the Michigan Basin, was hooked up to Mark WestEnergy's Basin Pipeline System as a commercially producing well. On completion of the Milford 36 well, the rig will move on to spud the Brighton36 well which is also located in the Southern Reef Trend close to Lake Erie, inthe Michigan Basin. Meridian has a 25% working interest in both the Milford and Brighton wells and a50% working interest in the producing 27B, Emery Hudson. Tony Mason, Chief Executive, Meridian Petroleum, said: "The plan is to drill the Milford and Brighton wells back to back withcompletion on both prospects in late-May. Our experience with the Emery Hudsongives us confidence in a positive outcome. Our aim will then be to quickly hookup both wells into the delivery network bringing in cash to fund furtherexploration. Enquiries: Meridian Petroleum PLC (020 7409 5040)Tony Mason, Chief ExecutivePeter Fleming, Director of Finance Westhouse Securities LLP (020 7601 6100)Bill StapleRichard Morrison Citigate Dewe Rogerson (020 7638 9571)Press: Martin Jackson / George CazenoveAnalyst: Nina Soon This information is provided by RNS The company news service from the London Stock Exchange