Meridian Petroleum PLC : Onwards into 2007/2008

19 May 2005


Well logs indicate a gross pay of 94 feet with a net pay of 71 feet.
Permeability averages approximately 6%.


Casing on Milford 36 is now being set. Meridian will shortly conduct perforation testing and flow testing of the Milford 36 well. The exact size of the Niagaran reef and reserve potential will be determined during this well testing phase.


Tony Mason, Chief Executive, Meridian Petroleum, said:

'We are delighted by the result and the initial log interpretations indicate
that this should be a commercial discovery.