Interim Results

September 27, 2006

                     PROVIDENCE RESOURCES P.l.c.

               INTERIM REPORT AND FINANCIAL STATEMENTS
                FOR THE SIX MONTHS ENDED 30 JUNE 2006

Financial Highlights

     * Turnover up 61% to ¤1,014,000 (2005: ¤629,000)
     * Operating Profit of ¤52,000 (2005: Loss ¤15,000)
     * Net Profit up 102% to ¤83,000 (2005: ¤41,000)
     * ¤50 million financing facility agreed with Macquarie

Operational Highlights

     * Singleton oil production increased following 2 new development
       wells being brought onstream
     * Dunquin farm-out agreement reached with ExxonMobil: work
       programme agreed and started
     * High quality 2-D Seismic data successfully acquired over
       Dunquin prospect
     * Completion of major pre-development study on Spanish Point
     * Spanish Point data room opened for ongoing commercial and
       farm-out discussions
     * Drill rig secured for planned 2007 drilling programme offshore
       Ireland (announced September '06)
     * Celtic Sea farm-out agreement reached with Challenger Minerals
       Inc.
     * St. George's Channel Apollo farm-out process underway
     * AJE 3 post-well analysis completed offshore Nigeria


Commenting on  today's Interim  Results,  Tony O'Reilly  Jnr.,  Chief
Executive of Providence Resources P.l.c., said:
"So far, 2006 has been an exceptionally busy and positive period  for
Providence: We have  entered into long  term strategic  partnerships,
announced  major   farm-out   programmes,  arranged   acquisition   &
development financing, increased oil  production and conducted  major
seismic programmes.  Looking ahead,  we see  a continuation  of  this
level of  activity. Importantly,  the  securing of  a rig  slot  will
facilitate targeted drilling in 2007."

Full Interim Report, Financial Statements and Company Outlook are set
out below.
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 2006 of ¤1,014,000  (H1
2005: ¤629,000) was generated  from the Group's  20% interest in  the
producing onshore UK Singleton oil  field. Gross profit increased  to
¤729,000 (H1 2005:  ¤493,000). The Company's  share of production  in
the first half of 2006 averaged 105 barrels of oil per day (BOPD)  at
an average oil price  of $65.69 per  barrel (H1 2005:  89 BOPD at  an
average oil  price of  $49.58 per  barrel). The  Company recorded  an
operating profit of ¤52,000 and a profit on ordinary activities after
taxation  of  ¤83,000  (H1  2005:  ¤41,000).  The  financial  results
incorporate the impact of FRS 20.

PRODUCTION

  * Increased Singleton production
  * ¤50 million Macquarie financing facility
  * New investment club
  * Joint study with Island Oil & Gas on oil assets in Celtic Sea

The Company has a stated strategy to substantially increase its daily
production by a combination  of increasing existing production  rates
at its 20% owned Singleton onshore oilfield, as well as acquiring new
production/development  interests  and  developing  existing   assets
within its portfolio.

The drilling of  2 development wells  at Singleton in  late 2005  has
resulted in an increase  in production during the  first 6 months  of
2006. Further  work is  being  carried out  with the  Operator,  Star
Energy Plc, to evaluate further methodologies to increase  production
rates and financial returns from the Singleton Field.

As reported  in the  Annual  Report, Providence  has arranged  a  ¤50
million  revolving   production   acquisition/development   financing
facility with Macquarie  Bank. This gives  the Company the  financial
capability to  invest in  production and  development  opportunities,
with the support of  Macquarie. Over the past  6 months, the  Company
has reviewed a number of producing field opportunities, but to  date,
no deals have been concluded.  The Company will continue to  evaluate
both production and development opportunities with the long term view
of enhancing shareholder value.

Externally, the  Company  has  affiliated  with  a  private  industry
grouping who  identify,  procure  and  execute  production  and  near
production/development opportunities in various  parts of the  world.
The benefits of this  are apparent in that  not only does  Providence
get a wider selection of potential opportunities, but it also accrues
the benefits of third party  technical and financial evaluation  that
will  complement  its  own   analysis.  Currently,  the  Company   is
evaluating a  number of  proposals  in areas  including the  Gulf  of
Mexico, the North Sea and in other proven producing areas.

Within the existing portfolio, a number  of assets in the Celtic  Sea
and St  George's Channel  areas are  being re-evaluated  in terms  of
commerciality and various development and drilling options are  being
considered. As announced earlier this week, Providence has agreed  to
work together with Island Oil & Gas Plc to develop a common  strategy
report for the joint development of both companies' Celtic Sea assets
based on a shared floating  production facility. This report will  be
based on  the extensive  work Providence  has conducted  on  floating
facilities in the Celtic Sea, suitably modified to take into  account
the differing reservoirs for joint development purposes and  economic
savings.

DRILLING

  * Petrolia Rig secured for drilling in 2007
  * Potential for 2nd slot
  * Additional rig slots being sought

Earlier this week, the Company announced an agreement with Island Oil
& Gas Plc ("Island") for the provision of the semi-submersible
drilling unit "Petrolia" in 2007, which Island had contracted for a
150-day drilling programme. Under the terms of an agreement reached
between Island and Providence, Island will assign 1 firm drilling
slot to Providence in 2007. This will allow Providence to progress
its drilling plans offshore Ireland for 2007, further details of
which will be announced in the coming months. The results of the
recently announced Gardline seismic survey will also be factored into
the decision making process on drilling locations. A further slot may
become available in 2007 depending on the duration of the respective
drilling programmes being carried out by the two companies.

Additionally, due to  the substantial number  of prospects  available
within Providence's  portfolio  for both  appraisal  and  exploration
drilling in Ireland, West Africa, and the United Kingdom, the Company
continues  to  search  the  market  for  additional  rig  slots,   at
competitive market prices, for further 2007 drilling, as well as 2008
drilling.

ASSET DEVELOPMENT

OPERATIONS - PORCUPINE

  * Dunquin programme on track
  * Spanish Point farm-out process underway

Dunquin (16% Interest)
In February 2006, Providence announced that it had reached  agreement
on a farm-out programme  with ExxonMobil on  its Dunquin Prospect  in
the Porcupine Basin, off the west  coast of Ireland. Under the  terms
of the farm-out agreement,  ExxonMobil will earn  an 80% interest  in
the prospect  for  investing  in  an  extensive  success  based  work
programme, which  provides  for  seismic  surveys  and  drilling.  In
return, Providence's stake will move to 16% whilst its other partner,
Sosina Exploration Limited, will move to 4%.

An initial phase of  this farm-out programme  was the acquisition  of
1,500km 2-D long offset seismic survey which Providence, as Operator,
successfully acquired  this summer.  This very  high quality  seismic
data, which was  licenced from  Fugro Data  Surveys AG,  will now  be
processed, prior to interpretation and integration with the  existing
data, the  results  of  which  will better  define  the  future  work
programme on the Dunquin Prospect.

In addition  to  the specific  farm-out  agreement over  the  Dunquin
Prospect, ExxonMobil, Providence and Sosina have also entered into an
Area of  Mutual  Interest  (AMI)  over  the  South  Porcupine  Basin,
covering an  area  of  some  270  blocks.  Currently,  most  of  this
extensive area is not open for  licensing, but it is understood  that
the terms for the Porcupine  Licensing Round will be announced  later
in the year by  the Minister for  Communications, Marine and  Natural
Resources.

Spanish Point (80% interest)
In the Central Porcupine Basin, work on the Spanish Point Project has
progressed considerably in the past year. Already a proven discovery,
Providence carried out extensive pre-development work, including
reservoir and development engineering, to demonstrate potential
development scenarios on this large field which has estimated
recoverable reserves of 1.4 TSCF and 160 MMBO, with significant
upside potential both within the field as well as in adjacent
prospects.
.
In May 2006, Providence assembled all this new work into a major
farm-out process, when it opened the Spanish Point data room for the
industry. This farm-out process continues on schedule with active
interest being shown by major industry players. .

OPERATIONS - CELTIC SEA AND ST GEORGE'S CHANNEL

  * Licence Interests
  * Farm-out deal with CMI
  * Seismic programme
  * Apollo farm-out launched

Licence Interests
In the Celtic Sea, 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. These interests  historically have been held under  a
Licensing Option whose term was due  to expire and so Providence  has
exercised its right under the 1992 Licensing Terms, to formally apply
to the Minister for Communications,  Marine and Natural Resources  to
have  the  Licensing  Option  converted  to  a  Standard  Exploration
Licence, which carries  a well commitment.  The Celtic Sea  portfolio
(75% interest)  consists of  Hook Head,  Ardmore, Helvick  and  Block
50/6-7 (now named  "Dunmore"). As part  of this application  process,
your Company relinquished its interest in the Glandore prospect.  The
Blackrock project is held under a separate Licensing Option.

In the St George's Channel area,  Providence has applied to have  its
Licensing Option over  the Apollo prospect  (100% interest)  extended
and to  have  its Licensing  Option  over the  Dionysus  and  Pegasus
structures (95%  interest)  converted  into  a  Standard  Exploration
Licence, which  carries a  well commitment.  On that  portion of  the
Marathon operated Dragon Field (where  a discovery well was  drilled)
that extends into the Irish  sector, Providence has made  application
for a  Lease Undertaking  as a  pre-cursor to  potential  development
plans being  finalised. These  applications are  all subject  to  the
standard terms and  conditions of  the 1992 Licensing  Terms and  are
subject to Ministerial approval.

Farm out Deal with CMI
At the beginning of  September 2006, your  Company announced that  it
had  signed  a  farm-out  agreement  with  Challenger  Minerals  Inc.
("CMI"), a wholly owned subsidiary of GlobalSantaFe Corporation,  one
of the world's largest international oil & gas drilling  contractors,
on its Celtic Sea interests.
Under the terms  of the  agreement, Providence has  agreed with  CMI,
subject to approval from the Minister for Communications, Marine  and
Natural Resources, to allow  CMI to farm into  20% of its Celtic  Sea
interests in return for CMI paying 26.7% of the costs of the  seismic
programme in 2006. Thereafter, CMI will be responsible for 20% of all
future licence, drilling and development  costs. As a result of  this
farm-out, Providence will retain a stake  of 75% in these Celtic  Sea
interests with its  partner, Midmar  Energy Limited,  retaining a  5%
stake. CMI has also  been granted an  option, exercisable until  31st
October, 2006,  to  farm-in  to  an additional  20%  stake  in  these
interests, on the same terms as above.

Seismic Programme
In mid September 2006, the Company announced that it had awarded a
comprehensive 2-D and pseudo 3-D seismic survey contract to Gardline
Geosurvey Ltd over specific areas within its Celtic Sea and St
George's Channel Basin licence portfolio. Expected to commence within
the next month, the programme is intended to provide a total of 500
km of high resolution 2-D seismic data on the Hook Head and Pegasus
structures, together with a 16 sq km pseudo 3-D seismic survey over
the Ardmore gas field. The survey, which is designed to better define
future work programmes, including drilling locations, is planned to
take approximately 3 weeks to acquire, subject to weather.

Apollo Farm-out Process Underway (100% interest)
Located in the St George's Channel area, offshore Ireland, the Apollo
exploration prospect  is  on  trend with  the  Pegasus  and  Dionysus
exploration structures. Based on regional  data and nearby well  test
results, Apollo is thought  to be a  large un-drilled Jurassic  fault
block structure  that  has  the  potential  to  have  good  reservoir
qualities and oil mature source rocks. If hydrocarbon bearing, it  is
estimated that  it could  contain estimated  recoverable reserves  of
circa. 400 MMBOE.  Located just  80 km offshore,  in shallow  waters,
Apollo is an  attractive exploration target  where Providence is  now
inviting industry participation by way  of a farm out process,  which
commenced in August 2006.

OPERATIONS - NIGERIA

AJE, OML 113 (7.04% Interest)

  * AJE 3 post well analysis completed
  * Plans for AJE 4

The AJE 3 well offshore Nigeria was the third well drilled on the AJE
Field in OML 113, offshore Lagos, Nigeria and was spudded in 2005.
Whilst the well achieved its geological objectives, confirming the
presence of both oil and gas in both target reservoir intervals, it
was deep to prognosis which prompted further seismic evaluation by
the partners. The partners carried out 3-D seismic reprocessing to
link this well result with the existing two discovery wells (AJE 1
and AJE 2), as well as identifying a potential location for the AJE 4
appraisal well. The AJE 3 post well analysis has been completed and
overall, the revised analysis of the field suggests that the AJE
field could have the potential for both oil and gas production.
Currently, plans are being considered for the future drilling of AJE
4. Further news regarding the next steps for AJE are expected in the
coming months.


OPERATIONS - UNITED KINGDOM

Singleton (20% interest)
The Company  is working  with the  Operator, Star  Energy Plc,  on  a
number  of  exploration  and  production  enhancing  initiatives,  to
realise the full potential of the Singleton licence.

UK110/14c-6, West Lennox & Crosby (10% Interest)
Providence has been in this area since 2005 when the 110/14c-6 well
was drilled at West Lennox to test a seismic anomaly south and east
of an existing proven oil-bearing reservoir. On completion of
drilling operations, well 110/14c-6 was declared "tight hole" status
by the Operator (CMI) and remains so. Further geological work
continues in this area, including the adjacent Crosby Prospect.

UK 24th Seaward Round Application
In June 2006, Providence applied, as a member of a consortium, for  2
licence interests,  offshore United  Kingdom in  the east  Irish  Sea
under the UK 24th Seaward Round. Providence has no information as  to
whether its application will be successful  or not, and any award  of
licences will be subject to the UK Dept. of Trade and Industry.

North Sea Assets (25% interest)
In North Sea, the Company holds a 25% interest in Block 210/19(p),
which is near the Shell operated Tern Field. Providence also holds a
25% interest in Block 9/9d, which contains an existing small oil
discovery. These fields are currently the subject of a farm-out
campaign being managed by the operator, Midmar.

ENERGY AND THE ENVIRONMENT
The Company believes that it has a role to play in addressing energy
supply in an environmentally responsible manner. In addition to its
ongoing exploration and development initiatives, which are carried
out in accordance with all environmental rules and regulations, the
Company is also a contributing player to the Irish Government
sponsored initiative on new energy sources, including methane gas
hydrates.

OUTLOOK
Providence expected 2006 to be a period of high activity and, to
date, this has proved to be the case. It is anticipated that the
level of activity in the second half of the year is likely to match,
or exceed, the amount of activity in the first half of the year. The
Company will continue to focus on its portfolio approach with an
added emphasis on securing the right production/ development
opportunities. Providence's recent affiliation with CMI, coming just
months after its major deal with ExxonMobil, clearly demonstrates a
pattern of working together with world class companies to advance
Providence's wide portfolio of assets. We anticipate building upon
this model going forward.

Looking ahead, further farm-out and farm-in possibilities, more
drilling opportunities and potentially new licence interests as well
as production opportunities will enhance the existing portfolio of
assets. At a very exciting time in the oil and gas industry, we
believe these developments, in addition to our existing operations,
positions your Company for further growth.

Tony O'Reilly Jnr.,
Chief Executive Officer

September 27th, 2006


Notes to Editors
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 has 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 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.
Recent corporate announcements include;

  * Secures Rig Slot for 2007 (announced September 25th 2006);
  * Gardline Geosurveys Ltd Survey (announced September 15th, 2006);
  * 20% Farm-out Deal agreed with CMI on Celtic Sea Licences
    (announced September 5th, 2006);
  * Completion of Dunquin Seismic (announced on August 8th, 2006);
  * Annual General Meeting Statement (announced on June 20th, 2006);
  * Annual Results (announced on May 17th, 2006);
  * Dunquin Farm-out to ExxonMobil (announced on February 13th,
    2006);
  * ¤50 million Revolving Credit Finance Facility with Macquarie Bank
    (announced on February 2nd, 2006); and increased production at
    its Singleton oilfield (announced March 7th, 2006).

Comprehensive information on Providence and its oil and gas
portfolio, including its 2005 AIM Admission document, 2005 Annual
Report, Interim Report 2005 and recent press releases are available
from Providence's website at www.providenceresources.com

Glossary of technical terms used in this announcement
'estimated recoverable reserves' - those quantities of hydrocarbons
which are estimated to be commercially recoverable from discovered
accumulations

'BOPD' - barrels of oil per day

'TSCF ' - trillion standard cubic feet of gas

'MMBO' -  millions of barrels of oil equivalent

'MMBOE' - millions of barrels of oil

Providence Resources P.l.c.


Consolidated Profit and Loss Account
For the six months ended 30 June 2006
                                        Unaudited Unaudited
                                          30 June   30 June
                                             2006      2005
                                             ¤000      ¤000
Turnover                                    1,014       629
Cost of sales                               (285)     (136)
                                         -------- ---------
Gross Profit                                  729       493
Operating expenses                          (677)     (228)
AIM admission costs                             -     (280)
                                         -------- ---------
Operating Profit/(Loss) before Taxation        52      (15)
Interest receivable and similar income         32        57
Interest payable and similar charges          (1)       (1)
                                        ---------  --------
Profit on Ordinary Activities                  83        41
Tax on ordinary activities                      -         -
                                         -------- ---------
Retained Profit for the Period                 83        41
                                            =====     =====
Profit Per Ordinary Share (cent)           0.004c    0.002c
- Basic and fully diluted                  ======    ======

Providence Resources P.l.c.

Consolidated Balance Sheet as at 30 June 2006

                                                 Unaudited  Unaudited
                                                   30 June    30 June
                                                      2006       2005
                                                      ¤000       ¤000
Fixed Assets
Oil and gas interests                               22,239     15,743
Tangible assets                                        123         57
                                                 ---------    -------
                                                    22,362     15,800
                                                 ---------    -------
Current Assets
Debtors                                                686        442
Cash at bank and in hand                             1,569      4,555
                                                ---------- ----------
                                                     2,255      4,997
Creditors: Amounts falling due within one year     (1,288)      (917)
                                                ----------   --------
Net Current Assets                                     967      4,080
                                                ----------    -------
Total Assets Less Current Liabilities               23,329     19,880
Creditors: Amount falling due after more than          (1)        (6)
one year
Provision for Liabilities and Charges              (1,622)    (1,592)
                                                 ---------    -------
Net Assets                                          21,706     18,282
                                                     =====       ====
Capital and Reserves
Called up share capital                             13,784     13,712
Share premium                                       30,931     27,801
Capital conversion reserve                             623        623
Profit and loss account                           (24,230)   (24,507)
Foreign currency translation reserve                   598        653
                                                 ---------  ---------
Shareholders' Funds                                 21,706     18,282
                                                     =====     ======


Providence Resources P.l.c.


Consolidated Cash Flow Statement
For the six months ended 30 June 2006           Unaudited Unaudited
                                                  30 June   30 June
                                                     2006      2005
                                                     ¤000      ¤000
Net cash inflow from operating activities              50       233
                                                 -------- ---------
Returns on investments and servicing of finance
Interest received                                      32        57
Interest paid                                         (1)       (1)
                                                 -------- ---------
                                                       31       289
                                                 -------- ---------
Taxation                                                -         -
                                                 -------- ---------
Capital expenditure and financial investment
Expenditure on oil and gas interests                (554)   (3,193)
Capitalisation of operating costs                   (827)     (534)
Purchase of tangible fixed assets                    (85)      (12)
AIM admission costs                                     -     (280)
                                                 -------- ---------
                                                  (1,466)   (4,019)
                                                ---------  --------
Net cash outflow before use of liquid
resources and financing                           (1,385)   (3,730)
                                                 -------- ---------
Financing
Issue of ordinary share capital                         -     1,001
Foreign exchange                                     (38)         -
                                                 -------- ---------
                                                     (38)     1,001
                                                 -------- ---------
Decrease in cash                                  (1,423)   (2,729)
                                                    =====     =====




Notes to the Interim Statement


 1. The results  for the six month periods ended 30 June 2006 and
    2005 are neither audited nor reviewed.
 2. The financial information has been prepared on a consistent basis
    and using the same accounting policies as the audited financial
    statements for the year ended 31 December 2005 with the exception
    of the adoption of FRS 20 'Share-based Payment' which was adopted
    with effect from 1 January 2006 and in general requires the fair
    value of share options granted to employees and directors to be
    recognised in the financial statements. The impact on the 2006
    financial statements has been ¤113,000 with no material impact on
    the restated comparative 2005 financial statements.
 3. The calculation of the profit per share is based on the profit
    for the period on ordinary activities after taxation of ¤83,000
    divided by the weighted average number of ordinary shares in
    issue during the period on a basic and fully diluted basis of
    2,097,831,000.
 4. The Interim Statement will be 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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