PROVIDENCE CONFIRMS SINGLETON DRILLING PROGRAMM...

Embargo 7am
4 November 2008


PROVIDENCE CONFIRMS SINGLETON DRILLING PROGRAMME AND BOOSTS FIELD OIL
                              RESOURCES


  * FIRST STAGE OF FIELD REDEVELOPMENT PROGRAMME TO COMMENCE WITH THE
    DRILLING OF THE SNX-SWD HORIZONTAL WELL IN Q1 2009


*         PRELIMINARY THIRD PARTY MODELLING INCREASES SINGLETON
  ORIGINAL OIL IN-PLACE RESOURCES BY UP TO C. 50% TO 107 MMBO

*         MODELLING  SUPPORTS POTENTIAL SIGNIFICANT REMAINING UNSWEPT
  OIL RESERVES IN THE SINGLETON FIELD

Providence Resources P.l.c., the AIM and IEX listed exploration and
production company, is pleased to provide an update on activities at
its Singleton Field in the Weald Basin, onshore United Kingdom.

Providence recently commissioned a number of studies as part of the
planned redevelopment for enhanced production of the Singleton Field
which included static deterministic resource modelling carried out by
RPS Energy. The main aim of this modelling was to understand the
detailed distribution of oil within the field and to highlight any
areas which may be currently bypassed by the existing wells. The
preliminary results of the study, which suggest an original oil
in-place resource of up to c. 107 MMBO, a 50% increase over previous
estimates, are presently being incorporated and tested in a new
dynamic simulation model of the field.

Current production is c. 500 BOPD and c. 1.2 MSCFGD* (c. 700 BOEPD)
from six wells. Since production commenced in 1986, the field has
produced c. 3.7 MMBO, which represents a recovery factor to date of
c. 3.5%. Published data from similar fields in the area suggest an
ultimate recovery factor of up to c. 10% should be achievable which
means there is up to c. 7 MMBO of potential remaining reserves.  The
first stage of the redevelopment of the Singleton Field is due to
commence in Quarter 1 2009 with the drilling of the SNX-SWD
horizontal development well, which is targeting one of a number of
areas highlighted in the recent modelling. In addition, several well
stimulation programmes are planned for the existing wells together
with facilities upgrades.

The total increase in production from these initial redevelopment
activities is estimated to be c. 300 BOEPD taking total field
production to c. 1,000 BOEPD.

Providence holds a 99.125% interest in the Singleton Field, with
Noble Energy holding the remaining 0.875%.

Speaking today, Tony O'Reilly, Chief Executive of Providence, said:

"The initial results of this new resource modelling study have given
further impetus to our planned redevelopment programme for the
Singleton Field as they have significantly increased the original
in-place resource estimate thereby boosting the remaining reserve
potential.  The commencement of drilling of the SNX-SWD development
well will be the next milestone in the field redevelopment process
and this, together with the planned stimulation programme and
facilities upgrades should allow us to further increase the field's
reserves. I look forward to updating you on these activities in the
future."

* Only a small proportion of the produced gas is used for operations,
with the remaining portion currently being flared. The Company is in
the process of finalising plans to monetize this flared gas.


Contacts:

Providence Resources P.l.c.
                                                      Tel: [phone]
4074
Tony O'Reilly, Chief Executive

Powerscourt

Tel: [phone]
Rory Godson/Elizabeth Rous

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 (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.


About Singleton

The Singleton Oil Field is located 7 km north of Chichester in the
onshore licence PL 240 in the Weald Basin in the south of England.
The field consists of two east west trending elongate horst blocks
divided by a narrow graben. The wells produce from the Jurassic-aged
Great Oolite formation, consisting predominantly of oolitic
grainstones deposited during transgressive/regressive episodes. The
produced oil is a 37o API gravity crude and is trucked to the
Holybourne Rail terminal.


Terms used in this Announcement

MMBO              Millions of Barrels of Oil
MMBOE            Millions of Barrels of Oil Equivalent
BOPD               Barrels of Oil per Day
BOEPD             Barrels of Oil Equivalent per Day
MSCFGD          Millions of Standard Cubic Feet of Gas per Day


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. Definitions in this press release are consistent
with SPE guidelines.

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