Providence Secures Rig for Irish Offshore Drill...

18th April 2011
Embargo 7am


          PROVIDENCE SECURES RIG FOR IRISH OFFSHORE DRILLING PROGRAMME


Providence Resources Plc ("Providence"), the AIM and IEX listed company, is
pleased to confirm that it has secured a semi-submersible rig for its well
programme in the Celtic Sea during the summer of 2011. This forms part of
Providence's previously announced multi-year, multi-basin drilling programme,
offshore Ireland.

Under the terms of the deal agreed, Providence, as Operator, has hired the semi-
submersible rig, the GSF ARCTIC III. The rig contract provides for a minimum 54
day period with options to extend, should the company wish to drill further
wells. The primary objective of the 2011 drilling programme will be to further
appraise the Barryroe oil accumulation. Based on the current rig schedule, the
spud date is expected to be late August 2011. Well site surveys were recently
successfully completed using the R.V. Celtic Voyager.


Contacts:

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


 Powerscourt                      Tel: [phone]
 Rob Greening/Lisa Kavanagh


 Murray Consultants               Tel: [phone]
 Pauline McAlester


 Cenkos Securities Plc            Tel: [phone]
 Adrian Hargrave/ Nick Wells


 J&E Davy                         Tel: + 353 (0)1 679 6363
 Eugenée Mulhern/ Stephen Barry




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), as well as licences in 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 a number of 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 & Company reports) are available
atwww.providenceresources.com.


About Barryroe
The Barryroe licence lies directly below the Seven Heads Gas Field and has been
successfully tested at flow rates of between 1,300 and 1,600 BOPD, from three
exploration and appraisal wells. The reservoir sands are of Cretaceous Middle
and Lower Wealden age located between c. 4,500' TVDSS and 7,550' TVDSS. The oil
is light (30 to 42 degrees API) and contains relatively high wax content ranging
from 12 to 22 per cent, which may require treatment at surface. A third party
audit carried out by RPS Energy for Lansdowne indicated P50 and P10 STOIIP
estimates for Barryroe of 373 MMBO and 893 MMBO, respectively. The corresponding
2C and 3C Barryroe technically recoverable contingent resources are 59 MMBO and
144 MMBO, respectively. Providence recently entered into a MOA with Shell
Trading and Marketing to agree an oil off-take agreement for future Barryroe oil
production. Providence operates Barryroe (50%) with partners San Leon Energy
(30%) and Lansdowne Oil & Gas (20%).


Announcement
This announcement has been reviewed and approved by John O'Sullivan, Exploration
Manager of Providence Resources P.l.c. John O'Sullivan is a Geology graduate of
University College Cork and holds a Masters in Geophysics from The National
University of Ireland, Galway. John also holds a Masters in Technology
Management from the Smurfit Graduate School of Business at University College
Dublin and is presently completing a dissertation leading to a PhD in Geology at
Trinity College, Dublin. John is a Fellow of the Geological Society and a member
of the Petroleum Exploration Society of Great Britain. He has 20 years
experience in the oil and gas exploration and production industry and is a
qualified person as defined in the guidance note for Mining Oil & Gas Companies,
March 2006 of the London Stock Exchange.







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Source: Providence Resources plc via Thomson Reuters ONE

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