Meridian Petroleum Share Discussion Threads

[73sttest] 20/11/2011 13:04

hello The MM, quick question - what service are you using to buy canadian stock for example this one,
I am with TDWaterhouse and their offer facilites to purchase international stock however am worried with the exchange rates they offer.

regards,

[the marlboro man] 20/11/2011 11:48

Jennings Capital Report. 12 month price target $1.25

[the marlboro man] 19/11/2011 21:34

Mira's CEO Johnathan More has been doing a lot of buying over the last couple of months. He now holds 7.3 million shares, representing 6.9% of the company.

See here

[the marlboro man] 19/11/2011 21:02

Keya, I agree. Very big volume over the last week too. The Haywood report did a comparison with Mart Resources (also awarded a marginal field Bid Round). I reckon we will have more oil than them, judging by Wednesday's news release. They're capped at $218m. Mira's market cap only $46m.

Will have at a look at Simba. Cheers for that!

[keya5000] 19/11/2011 20:52

Malboro looks a good company, limited downside from here given likely success of future developments.

Have you checked out TSX:SMB--Simba Energy?

Early stage company but one with massive potential albeit high risk.

[the marlboro man] 19/11/2011 17:50

Good post from Darcyslaw on Stockhouse..

I recently bought into this company, and I see great potential. Smither, as you rightly point out, there seems to be little downside at the moment, and great news should be just around the corner.



These reservoirs are very productive, multi-Darcy sands with porosities well into the 30ies, just look at Mart recent tests, it's in the same Miocene type of sands. The oil should be fairly light, I'm guessing around 30 API. Operationally, this should be a piece of cake, especially since Mira stated that the old well was in "excellent condition"



If you look at the last slide in Mira's presentation, you will see a management estimate of 25 mmbbl in 2P net reserves after re-entry. Given the fact that they state that the logging results "exceed expectations" I think it's likely that 25 mmbbl is conservative.



Also, have a look at slide 18, it's clear that the area where NSAI assigned their 2C resource number to is much smaller that the seimic anomaly. Add in some prospectivity and the possibility of monetizing the gas and associated condensate, and the sky is pretty blue IMO.



Pick a number, apply a 10-15 USD/bbl metric and do the math...



Best,



Darcy

[the marlboro man] 19/11/2011 14:04

This is the news release from last Wednesday..

Mira Commences Production Testing of Tom Shot Bank 1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2011) - Mira Resources Corp. (TSX VENTURE:MRP) ("Mira") and its wholly owned subsidiary Equinox TSB Development (Nigeria) Limited announce that they have successfully completed the acquisition of new modern cased-hole logs in TSB-1. Mira will immediately commence production testing of the first zone which had previously sampled high quality, low-GOR oil, at Tom Shot Bank Field ("TSB Field").

The first test will be in the U7 reservoir, which based on the newly acquired logs is believed to be substantially thicker than previously interpreted. Based on the new interpretation, the U7 is an apparent 246-foot gross oil-bearing reservoir from an interval of 6,534 to 6,780 feet measured depth.

Thomas Cavanagh, President Mira Resources, stated, "After several months of delays, due to the rig's delayed arrival, we are pleased to announce that we have successfully re-entered and acquired all the planned new logs in the Tom Shot Bank 1 well. We have confirmation that the well is in excellent condition and we have had no problems in acquiring the new logs.

We are now initiating the critical phase of production testing and intend to test multiple reservoirs that were previously identified by Shell as hydrocarbon bearing. Initial interpretation of the cased-hole logs implies that the U7 contains 246 gross feet of hydrocarbon bearing reservoirs. In order to maximize our understanding of the production potential of this reservoir, we will commence with testing the lower portion of the U7 across a 130-foot interval, followed by the upper zone across a 60-foot interval. The 2010 NSAI Resources Assessment of Tom Shot Bank 1 that were used for filing Mira's 51-101 Report used a gross interval of 60 feet in the U7 to generate the contingent resources. We are very encouraged that the new logs suggest the U7 is substantially thicker.

In addition to the U7, we have interpreted an additional 90 gross feet of hydrocarbon bearing reservoirs in the U8 from which Shell sampled oil in 1980. The U8 was not included in Mira's 51-101 Report. Mira has decided not to test the U8 reservoir in this well due to it being behind two separate casing strings, which Schlumberger advised would be very challenging to successfully perforate. Both the U8 and the U9 reservoirs were wire-line tested as oil bearing by Shell in 1980. The U8 and U9 reservoirs will be assessed in detail and tested when Mira drills TSB-3.

The U9 reservoir was evaluated and also shows significantly increased reservoir thickness and much better porosity than initially believed. The U9 is believed to be made up of highly laminated sands. The cased-hole log evaluation of this interval was inconclusive regarding the reservoir fluid, even though Shell sampled oil in this reservoir in 1980. Mira has elected to defer the test in this reservoir until Mira drills TSB-3, as open-hole logs will conclusively determine the reservoir fluid and composition.

In addition, Mira has also determined a deeper reservoir, the U9.5, to have a 175-foot gross reservoir interval with a similar log response to the U9. Mira will be able to conclusively evaluate both the U9 and U9.5 when Mira drills TSB-3.

Mira has not yet received the final processed logs of the U4 reservoir but anticipate Schlumberger to provide these imminently. The results to-date of the re-evaluation have exceeded our expectations and we hope to confirm the results of the U7 test during the course of next week."

TSB Field is located within Oil Prospecting License 276 ("OPL 276") which is adjacent to the Abana Field in Oil Mining License 114 and due north of Addax Petroleum Corp. in Oil Mining License 123 ("OML 123"). Addax Petroleum Corp. is producing almost 50,000 BOPD from multiple fields within OML 123. TSB Field was discovered by Shell Petroleum in 1980 and encountered 425 Gross Feet of hydrocarbon pay, 57 net feet of gas and 83 net feet of oil proven pay with another possible 111 net feet of oil and 29 net feet of gas pay in reservoirs which Shell Petroleum interpreted as probable laminated reservoirs.

ON BEHALF OF THE BOARD

Thomas Cavanagh, President and Director

[the marlboro man] 19/11/2011 13:57

Anyone know how to do the charts. When I click on the MRP symbol above it takes me to London listed Meridian Pet.. Please help

[the marlboro man] 19/11/2011 13:51

Mira Resources Corp is a Canadian-based independent oil & gas company focused on West African proven energy plays in countries ranging from Ghana to Angola. • Focused on discovered Reserves and Contingent Resources with significant exploration upside wherenew technology has suggested additional potential• Mira's first acquisition is the Tom Shot Bank Field - shallow offshore Eastern Nigeria• Additional fields in the Niger Delta are highlighted and are in discussion• Currently preparing and positioned for a possible 2011 Nigerian Marginal Field Bid Round• Continued discussion with GNPC on shallow water Tano Basin block in Ghana• Top quality management team with IOC, NOC, Nigerian and JV experience• Core operations team is from major independents with recent Nigerian experience• Extensive regional seismic, geologic, engineering and well data bases• Partnerships and relationships with local and international operational and engineering consulting firms will facilitate expeditious monetization of assets.(skip to posts)ChartsLong Term ChartTSX Price6 Month Chart with VolumeCompany Website

[granny7] 08/12/2010 13:06

and how are things a year down the road?

[slapthepap] 07/10/2010 07:31

Looking at the long term charts of PPC and some of its peers shows that our (long term) investments have been relatively well judged, even before the full potential has been realised.

Slap

[victorfromportugal] 02/12/2009 10:17

pingu08 - 20 Nov'09 - 16:40 - 156 of 156 (premium) (Filtered)

[all in eol] 01/12/2009 19:03

Meridian Petroleum has been renamed President Petroleum Company. Please visit the new thread via the link below and dont forget to update your favourites.

[william-just] 01/12/2009 18:56

nope, it seems to work ok for me.

[bigm4] 01/12/2009 18:54

Can't seem to get ppc on advfn, anyone else having problems??

[treble in 1999] 01/12/2009 10:53

With you on that Robbo, maybe we can get past our breakevens now. thats investing

[aberdeen23] 01/12/2009 04:08

The End!!!!!!!

[bloodhound] 01/12/2009 00:09

What's in a name, the best is yet to to come........!

Bh.

[investorjon] 30/11/2009 21:46

Perhaps its an Auf wiedersehn meridian pet. moment, or not depending on the translation.

[ducatiman] 30/11/2009 21:30

au revoir mrp. sideshow, certificate. holder had a fight to get 143 so held back on voting.

[robo63] 30/11/2009 19:29

Its been a long three years nine months!! Bye bye MRP,TM etc. Hello PPC and the new team.

[oneilly] 30/11/2009 19:28

MRP is dead long live PPC

[presidentpetroleum] 30/11/2009 19:18

BYE BYE MRP.