Meridian Petroleum Achieves Commercial Flow from Calvin 36-1 Well

Meridian Petroleum reports that the Calvin 36-1 well on the Calvin Field, Winn Parish Louisiana, reached a Total Depth of 8,512 feet on January 20, 2006. A substantial gas show resulted and commercial flow rates of up to 1mmcf/pd were encountered using a 25/64 inch choke. Both down hole pressure rates and well head pressure rates were highly satisfactory. The initial completion and flow test were open hole with no casing string. As such, higher flow rates are anticipated from the completed well with a smaller choke. The production pattern in this field, and from this formation, is that wells generally start at modest production levels and build up over time.

The Louisiana State gas flare ban meant that gas was produced into a frac tank on location. The pressures encountered were such that, with due regard for safety, the well was shut in immediately after completion of the flow test. Previous gas tests in this zone have indicated pipeline quality gas with a high condensate content. Plans are now moving forward to get the well completed and on line as soon as possible. A pipeline runs through the location approximately 100 yards from the well head to the Calvin field dehydration and processing facility.

Given the overall potential in the Calvin Field, Meridian will be conducting further exploratory work in the Rodessa Zone and then, once these are secured, in the un-drilled deeper zones which are expected to be highly prolific. The appropriate steps are underway to secure these interests.

Anthony Mason, Chief Executive of Meridian said:
"Calvin 36-1 is a significant onshore hydrocarbon discovery and we expect to add to this success in other areas as the year progresses. We are also looking forward to bringing our other near production assets on line soon."