Share Name Share Symbol Market Type Share ISIN Share Description
Meridian Petroleum LSE:MRP London Ordinary Share GB00B3DDP128 ORD 30P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 55.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 12.4 1.9 10.2 4.6 8.85

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DateSubject
23/11/2009
11:57
tam oshanter: Didnt dare sell to buy for the 141 as I don't think they will be available and would then have to buy them back at a higher price. Ended up ordering a percentage of my 141 entitlement and full 143 with new money. Very confident. share price does seem to be finding a level at 60p. Can't remember a share price holding up so well after a placing at less than half the current share price Bodes well imho.
15/11/2009
21:38
victorfromportugal: Tadtech you are flawed, You accept this deal to protect the small PI who cannot subscribe all the shares?? come on!! also because issuing more shares for us , max 10.000.000 dilutes PL to 25% well if not all PI subscribes he gets the rest and gets his 29.9% back, simple. he won't sell will he? neither do the ones buying at 25p for 1 for 1 so there would be no share price down besides the price going up as you hope, the more shares, the more profit ok??? you think too small, too preocupied by the short term of share price. i am looking further (beyond the future private placements you'll be excluded) and the more shares, the more you'll have when things turn out good. you are just giving away shares, serious money for considerations of share price that is played all the time by the big guys to suit their ends. anyway as shown before, there is a way to get our shares at 1 for 1 , Peter levine to get his 29.9% same for evolution and for many to be happy Why isn't his happening? because someone some where is trying to get a bigger slice ? Not good! while all is available to broker a much fairer deal. It is hugely disappointing to fight inertia and bad decisions now protected by the egos of those behind them! But if you accpet it tadtch I won't and will fight as long as it needs! even after the 30th, Presisent will not hear the end of it! and they will make more mistakes, or mis judgements! No doubt looking at how it has happened in the last two years (except the gas sold in advance for orion ) except that not good enough! and tadtech, if I was a banker I would get all the shares I need through the private placement, you just need to know the wright persons in the city, a phone call you are in. But I am not and my entitlement for shares at 100% is somehow stolen away from me. That is not good at all ! 99% of shareholders are like me in this case even the ones who say "why bother!"
15/11/2009
21:30
tadtech: VICTOR Think it out.....How many private investors can afford 1 for 1, those that are not taken up will be left with the underwriters and dumped on the market. As soon as a 1 for 1 was announced (which it won't be) the MM'ers would mark down the existing share price aware that there would be excess shares flooding the market later. You fail to realise this and keep quoting the existing share price. You theory is flawed. The existing offer will ensure that next to no shares will flood the market and newbies will have to buy on market which should in theory raise the underlying share price because stock will be scarce. The non Levine, non private investor shares are being taken up by serious institutional investors not in for a quick buck according to SG. It is for this reason I expect a significant re-rating once news-flow begins. All IMO.
13/11/2009
14:34
tadtech: Victor The purpose of the placing is to get Ins on-board. It is these guys that move the share price not PI's. We have had a more or less 100% PI share base for the last 2 years and the market cap have never exceeded £11m in that time. If you issue more shares at 25p to PI's it will just dilute the existing underlying share price....I feel the mix is broadly about right currently. I did suggest to SG that I would have preferred the placing at a higher level but when was this deal 1st discussed and what was the MRP share price at the time. PL and the new Board are very very serious players...We are HUGELY luckly they are on-board, we can thank SG for that. Try asking the poor shareholders at IVE, TOM, UEN, TMAN, EEL, WNL and others if they would like to be in our position.
03/11/2009
19:06
oneilly: MERIDIAN PETROLEUM - OPEN OFFER MERIDIAN PETROLEUM is proposing an Open Offer on the following basis: 1 New Ordinary share for every 3 Existing Ordinary shares held at an Issue Price of 25 pence per New Ordinary share. In addition, you may apply for excess shares under the excess application facility. Shareholders can apply for any number of excess shares up to and including the number of Ordinary shares held on the Ex-entitlement Date, 30th October 2009. If you wish to apply for an excess application then you must enter the total quantity of shares you wish to apply for. For example, if your basic entitlement was 100 and you wished to apply for 20 excess shares then you would enter 120 as the total quantity of shares required. The Company is also proposing a Capital Reorganisation to be implemented prior to the completion of the Open Offer on the following basis: Each Existing Ordinary GBP0.30 share will be subdivided into 1 New Ordinary GBP0.01 share and 1 Deferred GBP0.29 share. Furthermore, the Company is also proposing to change its name to President Petroleum Company PLC. How This Affects You: Based on your holding of ....... MERIDIAN PETROLEUM GBP0.3 shares on 30 October 2009, which was the Open Offer Ex Date, you have an Entitlement to ....... MERIDIAN PETROLEUM GBP0.3 shares at a total cost of ....... GBP. ________________________________________ You Have The Following Options: 1 Accept the Offer to buy ...... MERIDIAN PETROLEUM GBP0.3 shares at a cost of ........GBP. We will process your instruction on or after 20 November 2009. Your election will be based on cleared funds available at this time. If you do not have sufficient cleared funds to take up all of your Open Offer Entitlement then we will take up the maximum number of shares we can based on the funds available. 2 Accept the Offer to buy a specified number of MERIDIAN PETROLEUM GBP0.3 shares. We will process your instruction on or after 20 November 2009. Your election will be based on cleared funds available at this time. If you do not have sufficient cleared funds to take up all of the specified number of shares then we will take up the maximum number of shares we can based on the funds available. If there is an excess application available on the Offer and you apply for more than your Open Offer Entitlement then please be aware that if the Offer is fully subscribed there is no guarantee that you will receive any or all additional shares applied for. Lapse - If you do not wish to apply for any Open Offer shares, you do not need to take any action and your entitlement will expire when the Offer closes. The total number of shares you will own will stay the same. However, the proportion of the Company you own will reduce as more shares will be in issue. ________________________________________ Important Information & Other Key Dates: The Company is seeking to raise equity of up to GBP6.9 million through the issue of 27,614,498 New Ordinary shares through a Placing and Open Offer. Under the Open Offer portion, 5,364,498 New Ordinary shares will be issued. The proceeds of the Open Offer will be used in order to increase reserves, resources and production capability on a scale large enough to achieve the critical mass of a mid-cap oil and gas company. The Board will develop this strategy globally and will seek a strategic presence in key areas of interest in fast growing hydrocarbon provinces. The Issue Price of 25 pence per New Ordinary share represents a 52.83 percent discount to the closing price of 53 pence per Existing Ordinary share on 29th October 2009, the last business day prior to the announcement of the Offer. The Open Offer, the Capital Reorganisation, and the Name Change are subject to shareholder approval at an Extraordinary General Meeting to be held on 30th November 2009. The Capital Reorganisation is expected to become effective prior to the admission and commencement of dealings in the New Ordinary shares on the LSE. Under the Companies Act, it is not permissible to issue shares at a discount to their nominal value. Therefore, in order to provide the Company with flexibility with its capital structure in the future, the Open Offer is conditional on, amongst other things, the completion of the Capital Reorganisation. No application is being made for the Deferred shares to be listed on the Official List or admitted to trading on any stock market or securities exchange. These shares have extremely limited rights and benefits attached to them rendering them in effect, economically worthless. These shares will therefore not be updated on your account. If you accept the Open Offer, the New Ordinary shares are expected to be credited to your account on or after 1st December 2009. These shares will not be available to sell until this time. If for any reason the Open Offer is not completed, any payment you have made will be returned and you will be notified. Please note that elections for excess shares will only be satisfied to the extent that other qualifying shareholders do not take up their full entitlement and as a result of which may be subject to scaling back. Should you apply for excess shares and these are not satisfied in full, the cash refund will be returned to you as soon as it is received from the Company Registrar. Unless you hold your shares in a ShareBuilder account, entitlements to New Ordinary shares will be rounded down to the nearest whole number. Any fractional entitlements will not be issued and instead will be aggregated and sold in the market for the benefit of the Company. If you wish to accept the Offer and intend to fund the take up of your Open Offer shares by selling existing shares held in your portfolio, you will need to ensure that the trade settles on or before 20th November in order to ensure cleared funds are available by our deadline. Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor. ________________________________________ Other Considerations: Please note that participation in this event will incur an administration charge of 5.00 GBP in addition to any other payment. ________________________________________ What Happens If I Don't Elect ? If you do not wish to apply for any shares you should take no action. ________________________________________ When Is The Last Time I Can Elect ? Please ensure you submit your option before 20 November 2009 to enable us to process your instruction in accordance with the Company's timetable for this event. ________________________________________ How Will Payment Be Made ? Any monies will be debited via your Cash Management Account on or after 20 November 2009. Please ensure that you have cleared funds available by 20 November 2009. If cleared funds are not available by 20 November 2009 we may not be able to process your instruction. If you have insufficient funds you can credit your Cash Management Account using our Online 'Fund & Withdraw' facility or by contacting our Call Centre any time up to 4pm on 16 November 2009. ________________________________________ Making My Decision: I elect to accept the Offer to buy ..... MERIDIAN PETROLEUM GBP0.3 shares. I understand that cleared funds must be available in my account to take up the Offer. I elect to accept the Offer to buy a specified number of MERIDIAN PETROLEUM GBP0.3 shares. I understand that cleared funds must be available in my account to take up the Offer (the quantity you enter below should be the total number of shares you wish to apply for). Please enter the total quantity of shares required: ________________________________________ Making My Decision: I elect to accept the Offer to buy ....... MERIDIAN PETROLEUM GBP0.3 shares. I understand that cleared funds must be available in my account to take up the Offer. I elect to accept the Offer to buy a specified number of MERIDIAN PETROLEUM GBP0.3 shares. I understand that cleared funds must be available in my account to take up the Offer (the quantity you enter below should be the total number of shares you wish to apply for). Please enter the total quantity of shares required:
02/11/2009
14:36
lr2: TechnoHead, you've certainly changed your tune since yesterday. I thought you didn't care about the amount of dilution. You said you were only interested in the share price and not in the underlying assets which, of course, underpin that share price. ________________________________________________________________________________________ TechnoHead - 1 Nov'09 - 04:15 - 14190 of 14437 There's been a fair bit of comment these past twp days about "being sold out" - "our assets given away". Previously there was volumous talk about the potential value of our Assets and what that equated per share .... £4 / £12 / £4000. Sad fact was that the share was trading at 40 - 50p during those previous comments. Now that we have been "sold out" we trading at 63p and the likelihood is that EOD Monday / EOD Next Friday we will probably be trading at considerably more. As a shareholder - in very simplistic terms the way i see it is that we are a lot better off / and actually have a very realistic chance now of achieving some considerable value per share in the future whereas previously all we could do was hope (but never know in our heart of hearts how we would get there) of seeing a half decent price per share. I don't really care how much dilution the future brings - if the share price of the shares continues to rise I'll be more than happy. Its the share price which counts - not the value of the assets nor the percentage of the assets we own - surely that was more than apparent in the days people were trying to work out what PEL was worth and how much it equated per share. What it equated per share was "not a lot" at that time.
01/11/2009
01:41
leedskier: LR2, yes...as money markets froze in 2008 PL decided it was better for shareholders to be invited to help raise cash rather than paying punitive interest rates, assuming money was available. We all made a lot out of that RI. It may be worth drawing attention to the concern of some that the share price will fall back to the offer price. That usually happens because the underwriters short the share price down to cover themselves in the event that the rump of the rights cannot be placed. The price invariably falls hard when the RI is announced and is shorted down further to ensure that those trading nil paids make lots of money too. None of that applies here. The share price was dropped by the MMs to shake out those who had not read and appreciated the import of the RNS. As I posted earlier, and I was not alone, so soon as I read the RNS I knew this would fly. Who in their right mind would sell shares bought at 25p for that price? The shares here are held tightly, which is why some were having difficulty buying on Friday. Demand will increase after the press coverage this weekend.
30/10/2009
09:03
soggy: Trout - I'm with you. If they have a bank facility of 50 million, what on earth are they doing trashing the share price for a mere £6.9m? Why not just get another 7million of a facility instead of halving the share price? How long will it take to use up £6.9m in salaries, bonuses and options for themselves and the new piggies at the trough? I just don't see how the hell this makes sense for any of us? - except any who bought in at very low levels. Say you bought £1,000 worth this week at 50p (my stake was bought two months ago at 59!) - giving you 2000 shares. YOu are entitled are entitled to 1 for every 3 = 666 shares at 25p - £166 YOu have forked out £1,166 and now own 2666 shares 2666 at 25p = £666 The share price has to get back up to 44p for you to break even. Does it look to you today as if the share price is going to be at 44p? Does anyone believe that when millions of 25 shares hit the market the share price will be at 44p? OR am I doing the sums wrong?????
24/10/2009
10:18
flyingswan: The FT article below may be of interest to MRP holders too: I think POGL - Plant Offshore Group is a major winner, which has been over looked by the article below, in the FT. It is a E & S Oil and Gas Company, working in the Emerging Markets, the shares are tightly held and only a few available to PI, which makes them volatile. http://www.ft.com/cms/s/0/ab732876-c001-11de-aed2-00144feab49a.html?nclick_check=1 Small energy groups ride crest of oil price wave By Neil Hume (FT) Published: October 23 2009 19:53 | Last updated: October 23 2009 19:53 To some it's further evidence of a liquidity bubble, to others a sign of renewed investor confidence and rising risk appetite. Whichever view you subscribe to, there's little doubt that small-cap oil and gas exploration, where share prices have risen by five or six times in a couple of months, is one of the most exciting and dangerous areas of the London market. And no stock is more exciting or volatile at the moment than Gulf Keystone Petroleum. Shares in the Kurdistan explorer have risen from 13p to 105p in the past two months following a big discovery in northern Iraq. The company is now worth just over £500m, and is one of the most popular stocks among retail investors, even though it does not know how much of the 1bn-5.3bn barrels of oil it has found can be recovered. It also needs to raise $80m-$90m to develop its oil field. So what is driving the renewed interest in this most risky of sectors and can it continue? One factor is the rising oil price. This is important because it makes projects viable and attracts investors to the sector. Indeed, it is doubtful Desire Petroleum, which is looking for oil in the Falkland Islands, would have been able to launch a £62m equity fundraising this week if the oil price had not been about $80 a barrel. The same goes for Rockhopper, another Falklands explorer putting the finishing touches to a cash call of up to £50m. Another is what might be called the "Gulf Keystone" factor. "There's real excitement in the sector again. Pick the right stock and you can make 10 times your money," explains one analyst, who adds that the attractions of investing in BP and Shell are not what they were. This is because many analysts think BP and Shell will eventually be forced to cut their dividends because they are finding it more difficult to replenish their reserves. This may explain why a company such as Afren has strong institutional support. Its shares have risen by 600 per cent since April on the back of positive drilling updates from its prospects in Nigeria. The company is now planning to move from Aim to the main index and with a market value of nearly £700m it will be big enough to claim a place in the FTSE 250. But the most important factor behind the explosive share price movements in the sector has been the return of risk appetite. Fund managers and retail investors are prepared to put some money into these risky plays, in a way they were not in March. Given the brighter economic outlook (and in turn the higher oil price) that is understandable, all the more so when one considers the recent success stories from the UK exploration and production companies (E&P). Cairn Energy and Tullow Oil have grown from humble beginnings to become members of the FTSE 100, while Emerald Energy recently agreed a £532m takeover from China's Sinochem and Heritage Oil could become a blue-chip company if it completes its merger with Turkey's Genel. However, there are reasons to think that the share prices of small E&P stocks are starting to become a bit frothy and in some cases the exploration upside is already reflected in share prices. In fact, backing for this view comes from Hardy Oil & Gas. Its shares (which had risen 60 per cent in the past three months) slumped 41 per cent on Friday on news that the first exploration well on the D9 block in India had been abandoned. This was a real surprise to investors because Reliance Industries, India's largest private company, had made a significant gas discovery in a nearby field. Traders say Hardy is a timely reminder of the risks of investing in the E&P sector, where, for every winner, there are three or four losers. But investors don't appear to be listening. Even after Friday's fall, shares in Hardy are only back to the level at which they were trading when drilling commenced. All of which suggests that some of the cash that has been poured into the system by central banks has made its way down the corporate ladder and into one of the most risky areas of the market. And that means share prices can keep on rising even if they have lost touch with the fundamentals.
17/9/2009
07:22
soggy: Well I wouldn't mind being taken over if I can get more than the 57p I paid at the top of the spike the other week.... A most frustrating share! I was in it a year or so ago, then sold, then - in anticipation of it finally getting going a couple of weeks ago I jumped back on board...only to find myself holding the baby. Now, let's see if we can get a good spike up again...and if it holds maybe I will too. But it's a dangerous game with MRP - we all know they should be worth a hang of a lot more, but they never are. Go on, MRP share price, prove me wrong today!
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