North Celtic Sea Oil Resource Updates

18 February 2011


                     NORTH CELTIC SEA OIL RESOURCE UPDATES


Providence Resources Plc, the AIM and ESM listed exploration, development and
production company, notes the announcement made this morning by Lansdowne Oil &
Gas plc (AIM: LOGP) (RNS Number 4554B, 18 February 2011) concerning the
completion of an updated Competent Persons Report (CPR) on its assets in the
Celtic Sea, offshore Ireland. Said CPR refers to two projects in which
Providence has a material equity stake and is Operator, namely the Barryroe
(50%) and Helvick (62.5%) oil discoveries.

Excerpts of the CPR, as derived from the RNS, and as applicable to Providence
include:

  * In the two oil discoveries in which Providence has an interest, Barryroe
    (50%) and Helvick (62.5%), Providence's net combined P50 technically
    recoverable oil amounts to 31.875 MMBO.


  * Under the current conditions of high oil prices, commercial production at
    Helvick (3 MMBO Gross, 1.875 MMBO net 2C Contingent Resources) could be
    achieved, which could lead to first oil within 2 years of project sanction.



On Wednesday, February 16th, 2011, Providence announced the placing of 16.096
million new ordinary shares to raise $65.7 million in support of its planned
multi-year, multi-well drilling campaign to cover the six basins in which the
Company has licence interests offshore Ireland. As part of this programme, plans
are being advanced by Providence, as Operator, for the drilling of wells at
Barryroe and at Hook Head, both in the Celtic Sea Basin.


CONTACTS:

 Providence Resources P.l.c.     Tel: [phone]
 Tony O'Reilly/John O'Sullivan


 Powerscourt                     Tel: [phone]
 Rob Greening/Lisa Kavanagh


 Murray Consultants              Tel: [phone]
 Pauline McAlester


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


 Davy                            Tel: + 353 (0)1 679 6363
 Stephen Barry




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 ESM market. 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 atwww.providenceresources.com.

GLOSSARY OF TERM USED
MMBO Millions of Barrels of Oil

ANNOUNCEMENT
This announcement has been reviewed by John O'Sullivan, Technical Director,
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 20 years and is a fellow of the Geological
Society of London and the Petroleum Exploration Society of Great Britain.
Definitions in this press release are consistent with SPE guidelines.






This announcement is distributed by Thomson Reuters on behalf of 
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(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Providence Resources plc via Thomson Reuters ONE

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