Celtic Sea Trading Update

Providence Resources Plc ("Providence" or the "Company")

                      CELTIC SEA TRADING UPDATE

   Confirmation of Delivery of Petrolia Rig for Hook Head Drilling
                                 and
         Farm-out Agreement with Sosina Exploration Limited


Providence, the  AIM  (London) and  IEX  (Dublin) listed  oil  &  gas
exploration and production company, today announces that:

  * Providence and its partners have taken delivery of the Petrolia
    semi submersible drilling rig (the "Petrolia") from Island Oil
    and Gas Plc in anticipation of its upcoming appraisal drilling
    programme at the Hook Head prospect in the Celtic Sea. Under the
    terms of its rig share agreement with Island Oil and Gas Plc,
    Providence has secured the Petrolia for a 50 - day drilling slot.

  * Providence has agreed a new farm-out agreement with Sosina
    Exploration Limited over Celtic Sea Standard Exploration Licences
    2/07 ('Hook Head') & 3/07 ('Blackrock'). Subject to Irish
    governmental approval of this agreement, Sosina Exploration
    Limited will hold a 5% stake in these licences. Providence's
    equity stake will remain at 40%, with Dyas BV at 15%, Atlantic
    Petroleum (Ireland Limited) at 10%, Forest Gate Resources Inc at
    15% with Challenger Minerals (Celtic Sea) Limited holding a 15%
    interest.

Tony O'Reilly Jnr., Chief Executive of Providence said:

"These are  2  extremely  positive developments  for  our  Hook  Head
drilling operations.

The arrival of the  Petrolia drilling rig  into our possession  means
that we are about to commence our appraisal drilling at our Hook Head
prospect. A further  announcement regarding  this drilling  programme
will be made imminently.

I am also very pleased to announce the addition of Sosina Exploration
to  our  Celtic   Sea  Drilling  Partnership.   Sosina  are   already
well-established partners, working with Providence and ExxonMobil  at
Dunquin and  in  the  Goban  Spur as  well  as  with  Providence  and
Challenger Minerals Inc at  Spanish Point. We  welcome them into  our
partnership at this most exciting time.'

Contacts:

Providence Resources Plc               Tel: [phone]

Tony O'Reilly Jnr., Chief Executive

Powerscourt                                      Tel: [phone]
1446
Matt Ridsdale

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 (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 the all press releases, annual reports and
interim reports are available from Providence's website at
www.providenceresources.com .

About Sosina Exploration Limited
Sosina Exploration Limited is a private company involved in oil and
gas exploration and appraisal joint ventures in Ireland and the
United Kingdom.

About Hook Head
The Hook Head structure  is a large  mid-basinal anticline where  two
previous wells  have  successfully  encountered  hydrocarbon  bearing
sands. The original IRL50/11-1 discovery  well, which was drilled  by
Marathon in  1971,  logged  c.  100  feet  of  hydrocarbons  in  five
sandstone units of Lower Cretaceous age. The well was not flow-tested
due  to  severe  operational  issues  at  the  time.  The  subsequent
IRL50/11-2 appraisal well, which was drilled by Marathon in 1975  was
drilled as a delineation well at the down-dip edge of the structure.

Post-drill mapping by Marathon indicates that the crest of the
structure is located to the north-east of the IRL50/11-1 discovery
well, which is further supported by the seismic data acquired by
Providence in 2006.

This crestal location is some 2 km northeast of the IRL50/11-1 well
and is thought to be c. 70 metres structurally higher than the
original well. The most recent in-house volumetric estimates suggest
that the Hook Head discovery could contain prospective resources of
up to c.70 MMBO or 250 BSCFG REC.

Celtic Sea Licence Blocks
Licence No 2/07 refers to part blocks 49/22, 49/23, 48/29, 48/30,
49/26, 49/27, 49/28, 49/8, 49/9, 49/13, 49/14, 50/6,50/7 and 50/11 in
the North Celtic Sea Basin. Licence No 3/07 refers to part blocks
48/29, 48/30 and 49/26

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