Providence Completes Dunmore Appraisal Drilling...

23 September 2008


               PROVIDENCE COMPLETES DUNMORE APPRAISAL
                         DRILLING PROGRAMME


  * DUNMORE 50/6-4 WELL SUSPENDED



  * PRIMARY JURASSIC SANDSTONE RESERVOIR LOGGED AS WATER WET



  * HYDROCARBONS LOGGED IN NEW JURASSIC CARBONATE RESERVOIR



Providence, the AIM and IEX listed exploration and production
company, together with its partners, announces the completion of
drilling operations at its 50/6-4 Dunmore appraisal well, located
some 40 kilometers off the south coast of Ireland. The well was
designed to appraise Jurassic aged sandstone reservoir intervals
which were tested as oil bearing in the 50/6-1 discovery well.

The 50/6-4 well was drilled using the Transocean GSF Arctic II semi
submersible drilling rig and reached a total depth (TD) of 5,214 ft
measured depth below rotary table (MDBRT). The primary Jurassic
sandstone reservoir interval was encountered within the pre-drill
depth prognosis, but the gross reservoir interval was thinner than
had been expected and sandstones present have been determined to be
water bearing based on well log data.

A new hydrocarbon bearing Jurassic carbonate reservoir zone was
encountered, which had not been anticipated prior to drilling. This
reservoir has a c. 20 ft gross thickness and porosities of up to 23%.
The reservoir zone exhibited good oil and gas shows whilst drilling,
with a hydrocarbon down to the base and is located within a c. 400 ft
thick interval of gas bearing shales. Given that this new play type
may have future potential, the partners have elected to suspend the
well and demobilise the rig since operational timing, equipment
availability, and cost constraints have precluded the deployment of
this specialist testing equipment within the current drilling
programme.

The partnership will now focus on integrating the results of the
Dunmore well, in particular on the new Jurassic carbonate play
potential. Forward programmes could include the deployment of
specialist testing equipment to obtain hydrocarbon samples and to
evaluate the productive potential of this interval.

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

"We are naturally disappointed with the Dunmore appraisal well
results in the Jurassic sandstone reservoirs, but we are very
encouraged by the discovery of the new Jurassic carbonate reservoir
interval. Whilst this new carbonate reservoir is not significantly
developed at this well location, it is possible that it may thicken
considerably elsewhere in the block. Once we have completed the
analysis of the well data and determined the final resource potential
for the whole accumulation, we will be in a better position to
complete our plans for any future specialist testing programme of the
50/6-4 well."

Contacts:

Providence Resources P.l.c.                   Tel: [phone]
Tony O'Reilly Jnr., Chief Executive

Powerscourt                                                 Tel:  +44
(0) 207 250 1446
Elizabeth Rous/Rory Godson

Murray Consultants                                   Tel: [phone]
0300
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 its 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 (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.

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.


Celtic Sea Standard Exploration Licence 2/07
Standard Exploration Licence 2/07 refers to part blocks 49/22, 49/23,
48/29, 48/30, 49/26, 49/27, 49/28, 49/8, 49/9,
49/13, 49/14, 50/6, 50/7 & 50/11 in the North Celtic Sea Basin,
offshore southern Ireland. The current Standard
Exploration Licence 2/07 partners and their respective percentages
are Providence Resources Plc (Operator) 53.111%,
Challenger Minerals (Celtic Sea) Limited 26.743%, Atlantic Petroleum
(Ireland) Limited 13.430% and Sosina
Exploration Limited 6.715%.

About Dunmore
The Dunmore oil discovery is located in c. 240' water depth being c.
40 km offshore Wexford and is situated in Standard Exploration
Licence 2/07 in the North Celtic Sea Basin.  The 50/6-1 discovery
well was drilled in 1986 by Gulf Oil (now part of Chevron), and
tested at a rate of c. 2,100 BOPD from sands of Upper Jurassic age at
a depth of c. 5,000' TVDSS from a 20' zone. The oil is a light sweet
44o API crude and is trapped in a faulted terrace structure. Mapping
of reprocessed 2D seismic data suggest that this trap rises to the
east of the 50/6-1 well location and that an appraisal well could be
located c. 400' up-dip from the 50/6-1 well.

This announcement has been reviewed by John O'Sullivan, Exploration
Manager 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 19 years and is a fellow of the Geological
Society of London and member of the Energy Institute. Definitions in
this press release are consistent with SPE guidelines.

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