Meridian Begins Calvin Field Re-entry

Meridian Petroleum plc, the oil and gas exploration and production company with assets in the United States and Australia, announces that work has commenced on the Calvin 36 #1 well at the company's Calvin field asset in Louisiana.

The well at Calvin 36 #1 has been re-entered, cleaned and expanded in order to accommodate a slotted liner, which will be cemented in place. Once this is complete, the company will then perforate the production zone in the Sligo Petit formation at a depth of 8,423 feet and commence production testing.

The company and joint venture partner Ensight Partners III are in the process of acquiring additional acreage in the Calvin Field from Petro-Hunt LLC, the independent energy group, and are in the process of executing an additional lease for blocks 25 and 29 in the Calvin Field. Once finalized, this will increase the company's overall acreage to over 4,000 acres with the potential to add additional reserves, which will be reviewed by ECL Scott Pickford in December as part of the audit process.

Discussions with Denberry Resources have begun over a potential three-dimensional seismic shoot to cover a large portion of the company's acreage at the Hustler Field area in Mississippi, where the company has approximately 2,000 acres under lease. The objective of the seismic shoot would be to further identify the Lower Tuscaloosa sand channels, which the company originally identified via interpretation of the two-dimensional seismic data that was acquired prior to the purchase of the leases.

Tony Mason, CEO, Meridian said, "We are enthusiastic about the development at Calvin to date and are looking to increase our acreage. It is testament to the strength of our JV with Ensight that work has begun so quickly following the signing of the JV earlier this month. We look forward to be able to update the market with further developments at Calvin."