AJE 4 DRILLING COMMENCES

Embargo 7.00am
5 February 2008


                      AJE 4 DRILLING COMMENCES


Providence Reources Plc, the AIM and IEX listed company, is pleased
to confirm that, in conjunction with its AJE Partners (comprising
Yinka Folawiyo Petroleum Company Limited ("YFP") acting as the
Operator, Chevron Nigeria Deepwater H Limited ("CDHL") acting as the
Technical Adviser, Vitol Exploration Nigeria Limited ("Vitol"),
Energy Equity Resources Aje Limited ("EER") and P.R. Oil and Gas
Nigeria Limited ("Providence")), drilling of the AJE 4 well has now
commenced.

The AJE 4 well is being drilled utilising the Transocean Deepwater
Pathfinder drill-ship. Drilling operations are expected to take up to
9 weeks. In the success case, the partners are not planning to flow
test the well but to install production casing and suspend the well
as a possible future producer.

No further announcements will be made until drilling operations
conclude.

Commenting on the announcement, Mr Tony O'Reilly, Chief Executive
said:

"We are delighted to confirm that the AJE 4 drilling operations have
now commenced, allowing us to assess the full reserve potential of
the AJE Field."


Contacts:
Providence Resources Plc          Tel: [phone]
Tony O'Reilly Jnr., Chief Executive

Powerscourt                                 Tel: [phone]
Rory Godson/Marie Cairney

Murray Consultants                    Tel: [phone]
Pauline McAlester

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 IEX
market. The Company was founded in 1997, but with roots going back to
1981 when it predecessor company, Atlantic Resources Plc was formed
by a group of investors led by Sir Anthony O'Reilly.
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 at
www.providenceresources.com.

About AJE
The AJE Field is situated in Oil Mining Lease 113 (OML 113) in water
depths of up to c. 3,000 feet and is 15 miles offshore Nigeria, being
some 40 miles southwest of Lagos. 3 wells have been drilled at AJE,
all of which have intersected hydrocarbons.

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