PPC.L Regulatory News (PPC)

25 Sep 2007 10:06

Meridian Petroleum PLC25 September 2007 25 September 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 million cubic feet perday. Production of Natural Gas Liquids (NGL) is in-line with expectations, andan initial sale of 350 barrels from stock has been undertaken. The Company has completed its reservoir perforation plan with minimal downtime,and the pressure build-up at the well is encouraging and continues to rise. The Company is benefiting from current high US energy prices of around $7 perthousand cubic feet for Natural Gas at Detroit Gate, and over $80 per barrel forWest Texas Intermediate crude oil. The current gross daily value of production from Orion 36 is in excess ofUSD23,000. 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 Communications Stephen Gutteridge, Chairman Tim Goodman Simon Robinson +44 (0) 20 7811 0140 Richard Greenfield Erica Nelson +44 (0) 20 7776 6400 +44 (0) 20 7851 7480 Tony Mason, CEO +1 713 599 1611 This information is provided by RNS The company news service from the London Stock Exchange