Interim Results

Providence Resources PLC
29 September 2005



                          PROVIDENCE RESOURCES P.l.c.
                    INTERIM REPORT AND FINANCIAL STATEMENTS
                     FOR THE SIX MONTHS ENDED 30 JUNE 2005

Highlights

   •Turnover up 23% at €629,000 (2004 €510,000)
   •Operating Profit up 135% to €265,000*
   •Net profit €41,000 (2004 €12,000)
   •At 30 June, Cash of €4.55 million; No debt
   •Additional €3 million raised through exercise of warrants in July 05
   •Post period end, 4 wells have commenced drilling (Aje, Nigeria; West
    Lennox, Offshore UK; 2 at Singleton, Onshore UK)
   •Successful listing on AIM
   •Appointment of Tony O'Reilly Jnr as Chief Executive

* pre AIM admission costs of €280,000
Commenting on today's results, Mr. Tony O'Reilly Jnr., Chief Executive of
Providence said:

'This has been an exceptionally busy and progressive period for Providence. Our
strategy of ensuring a well-balanced portfolio of exploration, development and
production is beginning to deliver.

Providence is currently directly involved in the drilling of 3 wells plus also
an indirect interest in the appraisal drilling of the Dragon Field. The drilling
on AJE in Nigeria offers Providence shareholders a unique exposure to a
significant world class hydrocarbon play, whilst the recent acquisition of an
interest in West Lennox accords with our strategy of increasing our daily oil
production.

Importantly, the current environment means that many of Providence's projects
have now been upgraded to potential development status and these projects,
together with our currently active drilling operations, means that we look
forward to the second half of the year with confidence'.

CONTACTS
Providence Resources P.l.c.
Tony O'Reilly Jnr., Chief Executive        Tel: [phone]
Powerscourt Media
Victoria Brough                            Tel: [phone]
Murray Consultants
Pauline McAlester                          Tel: [phone]



FINANCIAL
Turnover for the six month period to 30 June 2005 of €629,000 (H1 2004:
€510,000) was generated from the Group's 20% interest in the producing onshore
UK Singleton oil field. Gross profit increased to €493,000 (H1 2004: €377,000).
The Company's share of production in the first half of 2005 averaged 89 barrels
of oil per day (BOPD) at an average oil price of $49.58 per barrel (H1 2004: 102
BOPD at an average oil price of $33.70 per barrel).

The Company has recorded an operating profit before an exceptional item of
€265,000 (H1 2004: €113,000) and a profit on ordinary activities after taxation
of €41,000 (H1 2004: €12,000) after including costs of €280,000 associated with
the Company's admission to the AIM Market on the London Stock Exchange, which
became effective on 24 June 2005.

At June 30, the Company had cash resources of €4.55 million and no debt.
Subsequently, in July 2005, the Company received a further €3 million from the
exercise of previously granted warrants.

OPERATIONS
NIGERIA
AJE, OML 113 (6.3% Interest)
Providence holds a net 6.3% interest in the Aje Field in OML113 offshore
Nigeria. An appraisal well (Aje #3) was spudded on 21 August targeting
Cretaceous aged oil and gas reservoirs which had been previously encountered in
the Aje #1 and #2 wells. The well has been specifically designed to delineate
the south-western flank of the field and to provide key information on reservoir
quality, fluid types and structural disposition. In addition, the well will
probe a deeper Albian reservoir sequence, which is known to be productive in the
area. Drilling is currently ongoing.

IRELAND
St. George's Channel (80% interest)
Providence has been awarded further acreage in the St George's Channel Basin,
which comprises the Apollo prospect. This area has been targeted as a result of
ongoing work by the Company on its existing Pegasus and Dionysus prospects.
In addition, current drilling activity on the Dragon field (owned and operated
by Marathon Oil U.K.) has further enhanced the prospectivity of this area. Part
of the Dragon field extends across the UK/Ireland median line into Providence
operated block IRL51/1. In the event of a successful appraisal well on the field
providing additional reserves, the Dragon Field is expected to undergo a
fast-track plan of development. If no additional reserves are discovered, the
existing reserves in Dragon could then be supplemental to Providence's plans for
Dionysus and Pegasus.



Porcupine Basin (80% Interest)
Providence holds two Frontier Exploration Licences in the Porcupine Basin off
the west coast of Ireland. The Spanish Point field, which is located in the
northern part of the basin, has recently been upgraded by further detailed data
analysis. At present, Providence considers the field to contain unrisked
potential recoverable reserves of up to 1.85 TSCF and 288MMBO. Given the recent
resource upgrade, in combination with higher commodity pricing, Spanish Point is
now being actively reviewed for early development options.

Adjacent to Spanish Point is the Burren Oil discovery, which is being re-mapped
using new seismic inversion technology.

To the south, the super-giant Dunquin prospect continues to attract significant
industry interest and farm-out discussions are advancing. As a result of
regional work carried out in association with the existing licences, Providence
has also recently applied to the Irish Government for further acreage in the
Porcupine Basin.

Celtic Sea (80% interest)
As is the case of Spanish Point, the higher oil and gas price environment,
combined with enhanced geological and engineering work, has allowed Providence
to upgrade the economic feasibility of a number of its prospects in the Celtic
Sea. The Celtic Sea portfolio consists of Hook Head, Ardmore, Helvick, Glandore,
Block 50/6-7 and Blackrock. Accordingly, various development options are now
being considered and Providence also separately continues active discussions
with third parties.

Multi Well Programme
Providence is currently endeavouring to finalise a multi-well programme for next
year. Details of this multi-well programme are still being worked on and it is
hoped to be able to announce further details later this year.

UNITED KINGDOM
Singleton (20% interest)
Singleton development well X-8x was spudded on 16 August 2005 and reached target
depth on 30 August 2005. This sidetrack well is targeting reserves in northwest
part of the field and a -2000' horizontal section was drilled within the Middle
Jurassic carbonate reservoir sequence. A production liner and completion have
been run and the well is due to be tested following completion of the Singleton
X-9 well.

Singleton well X-9 spudded on 16 September 2005. This well, is being drilled in
the southern flank of the producing Singleton oil field. By accessing this area,
Providence and its partners not only potentially benefit from increased daily
oil production (estimated and still subject to testing) at up to 50%, but also
the installation of this horizontal well will give future opportunities for the
drilling of laterals from the horizontal well in order to further increase
production throughout the South Western part of the field.

West Lennox/ Crosby (10% interest)
On 19 September 2005, Providence announced the acquisition of a 10% shareholding
in the West Lennox field, offshore UK in the Liverpool Bay area. This
investment, with an international consortium, has been planned to allow
Providence to increase its daily oil production.

The appraisal/pre-development well spudded on 18 September 2005 and, on success,
the proposed development schedule calls for first oil production by the end of
the third quarter 2006. As part of this deal, Providence has also acquired a 10%
shareholding on the adjacent Crosby Prospect which contains a potential
recoverable reserve of 15 MMBOE and which is closely aligned to the companies
overall exploration strategy in the Irish Sea Basins.

North Sea Assets (25% interest)
On 8 September 2005, Providence announced that it had been awarded (under the UK
23rd Seaward Round) a 25% interest in Block 210/19(p), which is contiguous with
Providence's other two licence interests in Quad 210 in the North Sea. Block 210
/19(p) is near the Shell operated Tern Field. In addition, Providence also holds
a 25% interest in Block 9/9d. Providence, and its partners, Midmar (Operator)
and Sosina, continue with third party farm-out discussions on all these
interests.

OUTLOOK
This has been an exceptionally busy period for Providence. The Company has
focused on its strategy of increasing its daily oil production, progressing the
exciting development and exploration opportunities in its portfolio and ensuring
that costs are controlled.

We believe that this strategy, coupled with a working philosophy of maintaining
a small, experienced, focused team, supplemented with reliable industry
outsourcing, is delivering very exciting opportunities for Providence.

Providence now offers shareholders a very attractive and balanced portfolio at a
very exciting time in the oil and gas industry. In addition to progressing its
current operations, the Company also continues to look for future opportunities
to enhance its portfolio.

Dr. Brian Hillery
Chairman
29 September 2005

Notes to Editors
Providence's active oil and gas portfolio includes interests in Ireland
(offshore), the UK (onshore and offshore) and West Africa (offshore Nigeria).
Providence's portfolio is balanced between production, appraisal and exploration
assets, as well as being diversified geographically. In addition to drilling the
AJE field (offshore Nigeria), Providence is involved in drilling at West Lennox
(offshore UK) and at Singleton (onshore U.K.).

Comprehensive information on Providence and its oil and gas portfolio, including
the AIM Admission document and Annual Report 2004 are all available from
Providence's website at www.providenceresources.com



Providence Resources P.l.c.
Consolidated Profit and Loss Account             Unaudited   Unaudited
For the six months ended 30 June 2005
                                                   30 June     30 June
                                                      2005        2004
                                                      €000        €000

Turnover                                               629         510
Cost of sales                                         (136)       (133)
                                                 
Gross Profit                                           493         377
Operating expenses                                    (228)       (264)
                                                  
Operating Profit                                       265         113
Exceptional item - AIM admission costs                (280)          -
                                                 
Operating (Loss)/Profit on Ordinary Activities
before Taxation                                        (15)        113

Interest receivable and similar income                  57          30
Interest payable and similar charges                    (1)       (131)
                                                 
Profit on Ordinary Activities before Taxation           41          12
Tax on ordinary activities                               -           -
                                                  
Retained Profit for the Period                          41          12
                                                    
Profit and Loss Account
At beginning of period                             (24,553)    (24,718)
Retained profit for the period                          41          12
                                                 
Profit and Loss Account, end of period             (24,512)    (24,706)
                                                    
Profit Per Ordinary Share (cent)
- Basic and fully diluted                           0.002c     0.0009c
                                                    



Providence Resources P.l.c.
Consolidated Balance Sheet as at 30 June 2005
                                                Unaudited    Unaudited
                                                  30 June      30 June
                                                     2005         2004
                                                     €000         €000
Fixed Assets
Oil and gas interests                              15,738        7,882
Tangible assets                                        57           53
                                                
                                                   15,795        7,935
                                                
Current Assets
Debtors                                               442          228
Cash at bank and in hand                            4,555       11,103
                                               
                                                    4,997       11,331
Creditors: Amounts falling due within one year       (917)        (822)
                                               
Net Current Assets                                  4,080       10,509
                                               
Total Assets Less Current Liabilities              19,875       18,444
Creditors: Amount falling due after more than
one                                                    (6)          (9)
year
Provision for Liabilities and Charges              (1,592)      (1,531)
                                                
Net Assets                                         18,277       16,904
                                                    
Capital and Reserves
Called up share capital                            13,712       13,194
Share premium                                      27,801       17,432
Capital conversion reserve                            623          623
Convertible capital bonds                               -        9,717
Profit and loss account                           (24,512)     (24,706)
Foreign currency translation reserve                  653          644
                                                
Shareholders' Funds                                18,277       16,904
                                                   

Providence Resources P.l.c.
Consolidated Cash Flow Statement                 Unaudited   Unaudited
For the six months ended 30 June 2005
                                                   30 June     30 June
                                                      2005        2004
                                                      €000        €000
Net cash inflow from operating activities              233         316
Returns on investments and servicing of
finance
Interest received                                       57          30
Interest paid                                           (1)       (131)
                                                  
                                                       289         215
                                                  
Taxation                                                 -           -
                                                  
Capital expenditure and financial investment
Expenditure on oil and gas interests                (3,193)       (393)
Capitalisation of operating costs                     (534)       (342)
Purchase of tangible fixed assets                      (12)         (5)
AIM admission costs                                   (280)          -
                                                  
                                                    (4,019)       (740)
                                                
Net cash outflow before use of liquid               (3,730)       (525)
resources and financing
                                                  
Financing
Issue of ordinary share capital                      1,001      12,273
Short term loans                                         -        (400)
Secured bank loans                                       -        (428)
Foreign exchange                                         -           2
                                                 
                                                     1,001      11,447
                                                 
(Decrease)/Increase in cash                         (2,729)     10,922
                                                     


Notes to the Interim Statement



 1. The results for the six month periods ended 30 June 2005 and 2004 are
    neither audited nor reviewed.

 2. The calculation of the profit per share is based on the profit for the
    period on ordinary activities after taxation of €41,000 divided by the
    weighted average number of ordinary shares in issue during the period on a
    basic and fully diluted basis of 2,018,726,000.

 3. The Interim Statement is being sent to registered shareholders and is
    available on the Company's website at www.providenceresources.com. Further
    copies will be available from the Company's offices at 60 Merrion Road,
    Dublin 4.






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