New daily production record a

13 May 2008 09:08



13 May 2008

MERIDIAN PETROLEUM plc

("Meridian" or the "Company")

Orion sets new daily gas production record

Meridian Petroleum (AIM: MRP), the US-focused oil and gas exploration and production company, announces that its Orion 36 well has set a new daily gas production record of 5.37 mmcfd.

Following acidisation of the well in late April, there was an encouraging build-up of production and flowing well-head pressure. Over the past few days production has significantly increased, to an average of some 5 mmcfd. Flowing well-head pressure remains at around 900 psi. 

Average production over the first 11 days of May was 4.6 mmcfd with a peak rate so far of 5.37 mmcfd.

US gas prices remain strong and the Company is currently receiving prices in excess of $12 per mcf.

Ed Childers, the Company's Chief Operating Officer, who meets the criteria of a qualified person under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement. 

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For further information contact:

Meridian Petroleum Plc

Stephen Gutteridge, Chairman

+44 (0) 20 7811 0140

Ambrian Partners 

Tim Goodman

+44 (0) 20 7634 4711

Parkgreen Communications

Erica Nelson

+44 (0) 20 7851 7480