Providence Resources P.l.c. End of Year Trading...

For Immediate Release
December 20th, 2007


                     PROVIDENCE RESOURCES P.l.c.
                 END OF YEAR TRADING STATEMENT 2007
2007 HIGHLIGHTS

  * Significant oil discovery at Hook Head, offshore Ireland
  * $250 million Revolving Credit Facility agreed with Macquarie Bank
  * Two new gas wells producing at High Island A268 in Gulf of Mexico
  * Acquisition of majority stake in the Singleton oilfield, onshore
    UK effective, increasing daily production and Company cash flow
  * New Farm-Out Agreement with Chevron and Vitol for AJE Field,
    Nigeria and agreed plan to drill AJE 4

  * Institutional Placing of shares raised ¤25.7 million

Commenting on activity during 2007 and future plans for 2008, Tony
O'Reilly Jnr., Chief Executive of Providence Resources P.l.c., said:
"2007 has been an extremely positive year for Providence. Not least
in Ireland where the discovery of oil at Hook Head, the continuing
work on our west of Ireland prospects at Dunquin and Goban Spur and
the ongoing farm out process at our Spanish Point Project, has
confirmed our strategy and real commitment to the region.

"Diversification continues to be key to our business and the
acquisition of the majority stake in the Singleton oilfield (taking
Providence's stake to 99.125%) plus the discovery and bringing online
of 2 new gas wells at High Island, Gulf of Mexico, has substantially
increased cash flow for the Company, as well as moving us closer to
our stated objective of 2,000 BOEPD.

"This year, we have also consolidated our relationships with our
existing partners ExxonMobil, Sosina, Forestgate, Atlantic Petroleum,
CMI and Dyas, as well as build relationships with new partners, such
as Chevron and Vitol on the AJE Project. In addition, recently, we
announced that we had secured a US $250 million Revolving Credit
Facility with Macquarie Bank, which will allow us to capitalise on
these relationships and progress a number of production and
development opportunities.

"Looking towards 2008, Providence is very well placed to enhance all
three areas of its' portfolio of production, appraisal and high-value
exploration. Increased production has provided important cash flow
with which to unlock the potential of the larger assets. Based on our
current plans for 2008 (and subject to the availability of rigs), we
intend to drill a number of wells next year across our whole
portfolio in Ireland, the United Kingdom, the United States (Gulf of
Mexico) and Nigeria. We look forward to outlining further details in
the coming months.

"Going into 2008 with a clear strategy, an enhanced asset portfolio,
and a solid financial base, I am confident that Providence represents
a strong investment proposition for shareholders".
Note Regarding Forward-Looking Statements
Some statements in this announcement are forward-looking. They
represent our expectations for our business, and involve risks and
uncertainties. We have based these forward-looking statements on our
current expectations and projections about future events. We believe
that our expectations and assumptions with respect to these
forward-looking statements are reasonable. However, because they
involve known and unknown risks, uncertainties and other factors,
which are in some cases beyond our control, our actual results or
performance, may differ materially from those expressed or implied by
such forward-looking statements. These forward-looking statements
speak only as of the date of this document and no obligation is
undertaken, save as required by law or by the Listing Rules of the
Irish Stock Exchange and/or the UK Listing Authority to reflect new
information, future events or otherwise.

Contacts:

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

Powerscourt Tel: [phone]
Rory Godson/ Elizabeth Rous

Murray Consultants Tel: [phone]
Pauline McAlester/ Robert Marshall


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 (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

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