Meridian Petroleum PLC : Onwards into 2007/2008

16 June 2005


Milford 36 (25% WI): Positive gas test results

Gas testing of Milford 36 has concluded that the gas is of pipeline quality and can therefore flow directly from the well head to the CMS pipeline.

Meridian is at a very early stage in its evaluation of this resource. Further
testing will be required to define its size and maximum flow rates. Given the gas test results and the significant size of the net pay section calculated from earlier well logs, Milford has the potential to be a material addition to the company's reserves. Meridian will now shoot additional seismic in order to better define the size of the formation. The results of this quick process will determine the optimum means of maximizing production.