Providence Expands Acreage Position in Dragon F...

PROVIDENCE EXPANDS ACREAGE POSITION
                        IN DRAGON FIELD AREA


  * SEL 1/07 LICENCE AREA EXPANDED TO INCLUDE THE "ORPHEUS"
    EXPLORATION PROSPECT



  * REVISED LICENCE EXTENT ALSO INCLUDES MAPPED EXTENSION OF PROVEN
    DRAGON GAS FIELD


Providence Resources P.l.c., the London (AIM) and Dublin (IEX) listed
oil and gas exploration and development company, is pleased to
announce that it has been granted an increase in the areal extent of
its 100% operated Standard Exploration Licence (SEL) 1/07 in the St
George's Channel Basin, offshore south-east Ireland by the Department
of Communications, Energy and Natural Resources.

This revised licence authorisation contains the mapped extension into
Irish waters of Marathon's proven UK Dragon gas field, which was
discovered in 1994. Published public data on this field confirms a
resource base of c. 80 BSCF within the existing tested reservoir
zones. Providence's mapping of the Dragon Field indicates that c. 25%
of the field extends into SEL 1/07 and that there is potential for
deeper hydrocarbon bearing intervals beneath the field, which were
not drilled with the original discovery well. The expansion of the
licence area has been designed to capture this additional "Orpheus"
exploration prospect, which may be targeted as part of any future
appraisal/development well programme on the overlying Dragon Field.
The Dragon Field lies approximately 60 kilometres from Milford Haven
in South Wales where two new LNG facilities are being commissioned

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

"We are pleased to have expanded our acreage in the Dragon Field
area.  The proximity of the newly installed gas infrastructure
associated with the newly commissioned LNG facilities could act as a
catalyst for the future development of discovered resources within
the area. Additionally, using our extensive sub-surface knowledge of
the area, we will continue to evaluate the exploration potential for
gas production as well as storage opportunities".
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 P.l.c. 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 (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.


BSCF = Billion Standard Cubic Feet

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 18 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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