Operational Update - Dunquin Farm-in by Repsol

Embargo: 7:00am
September 19th, 2011



                          OPERATIONAL UPDATE - DUNQUIN
                               FARM-IN BY REPSOL

Providence Resources P.l.c., ('Providence') the London (AIM) and Dublin (ESM)
listed oil and gas exploration and production company, is pleased to announce
that Repsol Exploracion Irlanda, S.A. ('Repsol') will farm in to Frontier
Exploration Licence 3/04 ('Dunquin') by acquiring a 25% equity interest (12.5%
from ExxonMobil Exploration and Production Ireland (Offshore) Limited
('ExxonMobil') and 12.5% from Eni Ireland B.V. ("Eni")).

Following completion of this transaction, which is subject to regulatory
approval, the respective equity interests in the Dunquin licence will be as
follows: ExxonMobil (Operator) 27.5%; Eni 27.5%; Repsol 25%; Providence 16% and
Sosina 4%.


CONTACTS:

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


 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
 Stephen Barry/Eugenee Mulhern




ABOUT PROVIDENCE
Providence Resources Plc is an Irish based oil and gas exploration company
listed on the AIM market in London and on Dublin's ESM market. Providence's
portfolio of production, appraisal and exploration assets includes licence
interests in Ireland (offshore), the United Kingdom (onshore and offshore) and
West Africa (offshore Nigeria). In 2011, Providence announced plans to invest
with its partners upwards of $500 million in the drilling of a number of
exploration and development wells in the 6 basins in which it has licences
interests offshore Ireland. Commencing later in 2011, this multi-year programme
represents the largest drilling campaign ever carried out offshore Ireland.


ABOUT FEL 3/04 (DUNQUIN)
FEL 3/04 (the Dunquin licence) covers 5 blocks (44/18,
44/23, 44/24, 44/29, 44/30) in the South Porcupine Basin, 200km off the South
West coast of Ireland, where the water depth is over 1,500m. In August 2009,
ExxonMobil, on behalf of the licence partners, notified the Irish Department of
the Communications, Energy and Natural Resources that the licence partners had
elected to enter the second phase of the licence. This second phase of the
licence carries a firm well commitment within the Dunquin licence. Subsequently,
in July 2010, a site survey was completed on the Dunquin North prospect to
assess the site for the drilling of an exploration well.  The precise schedule
for this drilling has yet to be confirmed by the Dunquin license partners.


ABOUT REPSOL
Repsol Exploracion Irlanda, S.A. is a subsidiary of Repsol, a multinational
energy company that is present in over 30 countries. With more than 36,000
employees, Repsol is one of the ten largest privately-owned oil companies in the
world and the largest private energy company in Latin America in terms of
assets. Repsol is the market-leader in refining and marketing in Spain and
Argentina, the third-largest private LPG distributor in the world, and one of
the world's leading liquefied natural gas (LNG) marketers. Its oil and gas
production is around a million barrels a day. It operates four chemicals plants
and nine refineries in the world and handles over 50 million tons of crude oil
that is transformed into a wide range of products, distributed through a sales
network of about 7,000 service stations.

SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in
preparing this announcement








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Source: Providence Resources plc via Thomson Reuters ONE

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