3D Survey Highlights Resource Potential of Span...

12 July 2010
Embargo 7am


         3D SURVEY HIGHLIGHTS RESOURCE POTENTIAL OF SPANISH POINT AREA

  * Significant Spanish Point structural closure confirmed
  * Burren emerges as a potential high impact oil appraisal project
  * Large underlying Wilde exploration prospect verified


Providence Resources P.l.c., ('Providence') the London (AIM) and Dublin (ESM)
listed oil and gas exploration and production company, is pleased to provide a
new technical update on Frontier Exploration Licence (FEL) 2/04, which contains
the Spanish Point gas condensate and Burren oil discoveries. This licence is
situated in the Main Porcupine Basin, c. 200 km southwest of Shell's Corrib gas
field on the Irish Atlantic Margin, being operated by Providence (56%) on behalf
of its partners, Chrysaor E&P Ireland Limited (30%) and Sosina Exploration
Limited (14%). During the summer of 2009, Providence and its partners acquired a
c. 300 sq km 3D seismic survey over the area, the interpretation and processing
of which is currently ongoing.

SPANISH POINT DISCOVERY
The final processed 3D seismic data provide excellent resolution of the Upper
Jurassic hydrocarbon bearing reservoir intervals and allow for the direct
mapping of some of these zones across the Spanish Point structure.  The data
confirm the earlier seismic interpretation based on previous 2D surveys that
Spanish Point comprises a large structural closure and suggest that further
hydrocarbon bearing reservoir zones may be present above those tested by the
35/8-2 discovery well (flowed c. 1,800 BOEPD from one of four logged hydrocarbon
bearing intervals). Seismic interpretation and mapping indicates an undrilled
section of up to c. 750 ft thick above the existing c. 1,400 ft. hydrocarbon
bearing section which may host additional hydrocarbon bearing zones.

BURREN DISCOVERY
The 3D seismic survey also covered the adjacent 35/8-1 Burren oil discovery
which flowed c. 730 BOPD of high quality 34o API oil from one of two logged
hydrocarbon bearing Lower Cretaceous sandstone intervals. A number of laterally
extensive seismic anomalies of similar age to the Burren discovery have been
identified within the 3D survey area. These anomalies suggest that the Burren
discovery could from part of a much larger stacked Lower Cretaceous oil bearing
reservoir system providing significant future appraisal and exploration
potential.

WILDE PROSPECT
Previous 2D seismic interpretation indicated the presence of a potentially large
structural closure known as the Wilde exploration prospect underlying the
Spanish Point discovery. Interpretation and mapping of the new 3D data has
confirmed the presence of the Wilde prospect with an associated c. 45 sq km of
areal closure. The Upper Jurassic interval of the Wilde exploration target is of
significant interest as it is considered to be of equivalent age to
Callovian-Oxfordian zones which flowed at a cumulative rate of c. 5,000 BOPD in
the nearby 26/28-1 well (situated c. 30 km to the north). This well also
encountered good reservoir development within the Bajocian-Bathonian section
suggesting further hydrocarbon potential within the underlying Middle Jurassic
section.

FORWARD PROGRAMME
Over the next two months, the results of the 3D seismic interpretation will be
used to determine the final resource estimates for the Spanish Point discovery.
This in turn will allow the partners to optimally plan for any future appraisal
well programme. Resource estimates will also be generated for the Burren oil
discovery and underlying Wilde exploration prospect. This information is
expected to be made available in Q4 2010.

Speaking today, Tony O'Reilly, Chief Executive of Providence, said:

"It is extremely encouraging that our modern 'state of the art' 3D seismic data
have confirmed significant structural closure at Spanish Point. In addition, the
Burren discovery is now emerging as an exciting new oil play which may provide
either an incremental or potential standalone future development project in the
Spanish Point area. Whilst not a primary objective of the survey, the data have
also verified the presence of the large underlying Wilde exploration prospect,
which could form a dual objective for any future Spanish Point appraisal well.
We look forward to providing shareholders with a further update on the resource
estimates in relation to Spanish Point, Burren and Wilde later in the year as
well as our plans to progress them to drilling".


CONTACTS:

 Providence Resources P.l.c.      Tel: [phone]
 Tony O'Reilly/John O'Sullivan


 Powerscourt                      Tel: [phone]
 Rob Greening/Lisa Kavanagh


 Murray Consultants               Tel: [phone]
 Pauline McAlester


 Cenkos Securities Plc            Tel: [phone]
 Joe Nally/ Nick Wells


 Davy                             Tel: + 353 (0)1 679 6363
 Eugenée Mulhern/ Stephen Barry





NOTES TO EDITORS:

About Providence
Providence Resources Plc is an independent oil and gas exploration company
listed on the AIM market in London and on Dublin's ESM market. Providence's
active oil and gas portfolio includes interests in Ireland (offshore), the
United Kingdom (onshore and offshore), the United States (offshore) and West
Africa (offshore Nigeria). Providence's portfolio is balanced between
production, appraisal and exploration assets, as well as being diversified
geographically. Comprehensive information on Providence and its oil and gas
portfolio, including all press releases, annual reports and interim reports are
available from Providence's website atwww.providenceresources.com.

About Frontier Exploration Licence (FEL) 2/04
Providence holds a 56% operated interest in FEL 2/04, which covers blocks 35/8 &
9 in the Porcupine Basin, offshore Ireland. The blocks are situated in c.
300-400 metres of water and are located approximately 200 km off the west coast.
There are two confirmed accumulations on the licence, the Spanish Point gas
condensate and Burren oil discoveries. Providence licensed FEL 2/04 in November
2004 for a 15 year-term. Providence's co-venture partners on the licence are
Chrysaor E&P Ireland Limited (30%) and Sosina Exploration Limited (14%).

About Burren - 35-8/1
The Burren oil discovery well was drilled in 1978 by a group led by Phillips
Petroleum. The discovery well (35/8-1) flowed c. 730 BOPD of high quality 34o
API from one of two Lower Cretaceous sands within a gross c. 400' hydrocarbon
bearing interval. The original Jurassic target for the well was never penetrated
due to increased down-hole pressures and drilling was terminated at the top of
the Jurassic.

About Spanish Point - 35/8-2
The Spanish Point gas condensate accumulation was discovered in 1981 by Phillips
Petroleum and a consortium which included Atlantic Resources Plc, Providence's
predecessor company. The discovery well (35/8-2) flowed c. 1,000 BOPD and c. 5
MMSCFGPD (cumulatively 1,800 BOEPD) from one of four Upper Jurassic reservoir
intervals within an overall c. 1,400 ft thick gross hydrocarbon bearing section.
Due to a combination of low commodity prices, high cost of development and lack
of an indigenous gas market and infrastructure in the early 1980's, the project
was not declared commercial and the licence was subsequently relinquished.

Terms used in this Announcement
GIIPGas in Place
TSCFTrillion Standard Cubic Feet of Gas
MMBO Millions of Barrels of Oil
BOPD Barrels of Oil per Day
BOEPD Barrels of Oil Equivalent per Day
MMSCFGD Millions of Standard Cubic Feet of Gas per Day

Announcement
This announcement has been reviewed by John O'Sullivan, Technical Director,
Providence Resources P.l.c.  John holds a B.Sc. in Geology from University
College Cork, Ireland, an M.Sc. in Applied Geophysics from the National
University of Ireland, Galway and a M.Sc.in Technology Management from The
Smurfit School of Business at University College Dublin. John is presently
working part-time on a PhD dissertation at Trinity College, Dublin. John has
worked in the offshore business for 20 years and is a fellow of the Geological
Society of London and the Petroleum Exploration Society of Great Britain.
Definitions in this press release are consistent with SPE guidelines.


[HUG#1430962]








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