Securities Law & Instruments

IN THE MATTER OF

THE SECURITIES ACT

R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF

MERIDIAN RESOURCES INC. ANDSTEVEN BARAN

 

ORDER

(Section 127)

WHEREAS on July 31, 2002, the OntarioSecurities Commission (the Commission) issued a Notice of Hearingpursuant to section 127 of the Securities Act (the Act)in respect of Meridian Resources Inc. (Meridian) and StevenBaran;

AND WHEREAS the Commission conducteda hearing into this matter on February 24, 2003;

AND WHEREAS the Commission is satisfiedthat Meridian and Baran have not complied with Ontario securitieslaw and have not acted in the public interest;

AND WHEREAS the Commission is of theopinion that it is in the public interest to make this order;

IT IS ORDERED THAT:

(1) Pursuant to clause 2 of subsection 127(1)of the Act that trading

i) by Meridian in any securities of Meridian,and

ii) by Baran in securities of any reportingissuer in which Baran, his wife, any of his children, andany other person with whom Baran has an agreement or understandingin respect of investment in the reporting issuer, individuallyor considered together, hold more than 5% of any class ofsecurities,

cease for 5 years;

(2) Pursuant to clause 6 of subsection 127(1)of the Act that Meridian and Baran be reprimanded;

(3) Pursuant to clause 7 of subsection 127(1)of the Act that Baran resign all positions that he holds asan officer or director of a reporting issuer;

(4) Pursuant to clause 8 of section 127(1)of the Act that Baran be prohibited from becoming or actingas a director or officer of a reporting issuer for 7 years.

May 6, 2003.

"Paul M. Moore"
"Kerry D. Adams"