5 April 2007
Providence Resources Plc ("Providence" or the "Company")
ST GEORGE'S CHANNEL UPDATE
Extension to Apollo Licensing Option 05/3
Providence, the AIM (London) and IEX (Dublin) listed oil & gas
exploration and production company, today announces that it has been
granted an extension to the term of its Licensing Option 05/3 in the
St George's Channel, offshore Ireland.
Licensing Option 05/3, where Providence currently holds a 100%
working interest, contains the Apollo oil exploration prospect. The
Apollo prospect is a large tilted fault-block located in the
southwest part of the St. George's Channel Basin. The Licensing
Option extension covers the period to 30 September 2007.
Commenting, Mr. Tony O'Reilly Jnr. Chief Executive said:
"This extension will allow Providence further time to carry out
additional sub-surface work on this highly prospective area, whilst
also allowing the Company to continue with the Apollo farm-out
process".
Contacts:
Providence Resources Plc
Tony O'Reilly Jnr., Chief Executive Tel: + 353 (1) 219 4074
Powerscourt Media
Victoria Brough Tel: + 44 (0) 207 250 1446
Murray Consultants
Pauline McAlester Tel: + 353 (1) 498 0300
Notes to Editors:
About Providence
Providence Resources P.l.c. is an independent oil and gas exploration
company listed on AIM (London) and IEX (Dublin) markets. 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 UK (onshore and offshore), the Gulf of Mexico
(USA) and West Africa (offshore Nigeria). Providence's portfolio is
balanced between production, appraisal and exploration assets, as
well as being diversified geographically.
Recent key corporate announcements include:
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