Providence Commences 3D Seismic Survey in The P...

Embargo: 7:00am 20 July 2011 PROVIDENCE COMMENCES 3D SEISMIC SURVEY IN THE PORCUPINE BASIN ADJACENT TO SPANISH POINT AND BURREN DISCOVERIES Providence Resources P.l.c., ("Providence") the Irish oil and gas exploration and production company, whose shares are listed in London (AIM) and Dublin (ESM), is pleased to announce that it has, on behalf of itself and its partners, commenced operations for its 3D seismic acquisition project in Frontier Exploration Licence (FEL) 4/08 in the Porcupine Basin, off the west coast of Ireland. Using a vessel supplied by Polarcus Limited, the c. 200 km2 3D survey is expected to run for approximately 15 days. Providence operates FEL 4/08 (32%) on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina Exploration Limited (8%). Contacts: Providence Resources Plc Tel: +353 (0)1 2194074 John O'Sullivan, Technical Director Powerscourt Tel: +44 (0)207 250 1446 Rob Greening Murray Consultants Tel: +353 (0)1 498 0300 Pauline McAlester Cenkos Securities Plc Tel: +44 (0)207 397 8900 Adrian Hargrave/Nick Wells J&E Davy Tel: + 353 (0)1 679 6363 Stephen Barry/Eugenee Mulhern EXPLANATORY NOTES About Providence Providence Resources Plc is Irish based oil and gas exploration and production company listed on AIM (London) and ESM (Dublin). Providence's portfolio includes extensive licence interests in Ireland (offshore), the U.K. (onshore and offshore) and West Africa (offshore Nigeria). Providence recently announced a multi-year, multi-well offshore drilling campaign to cover the six basins in which the Company has licence interests offshore Ireland. Providence and partners plan to invest upwards of $500 million in the drilling of 10 exploration and development wells, with first drilling planned to commence later in 2011. This programme represents the largest drilling campaign ever carried out offshore Ireland. Comprehensive information (press releases and Company reports) are available at www.providenceresources.com. About Polarcus Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com About This 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. Definitions in this press release are consistent with SPE guidelines. SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in preparing this announcement This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Providence Resources plc via Thomson Reuters ONE [HUG#1532178]
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