Meridian’s chief executive Tony Mason said he was “content” with the results from Calvin’s Sligo-Pettet reservoir. “We are putting plans in place to produce from this important asset,” said Mason. “The potential from Sligo-Pettet will allow us to build on our active exploration programme.”
The company hopes to get its Calvin reserves onstream shortly. With oil and gas prices in North America still riding high, any additional barrels that can be hooked up will quickly turn profitable for the London start-up, which raised £2.3 million when it listed on London’s Alternative Investment Market this summer.
Once onstream, the Calvin flows will complement Meridian’s existing production from the Emery Hudson well in Michigan.
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