Providence Awarded Four New Licensing Options i...

17(th) October 2011


  PROVIDENCE AWARDED FOUR NEW LICENSING OPTIONS IN 2011 IRISH ATLANTIC MARGIN
                                     ROUND

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 it has been  awarded licensing options over four new offshore areas as part
of the 2011 Irish Atlantic Margin Licensing Round. The announcement of the
Licensing Round results was made this morning by the Minister for
Communications, Energy and Natural Resources, Mr Pat Rabbitte, TD at the
Atlantic Ireland Conference in Dublin.

These Licencing Options have a two year term after which they may be converted
into Frontier Exploration Licences, which have a 12 year term, divided into four
three year phases, with a well commitment required at the end of the first
phase. Providence will operate the licensing options in all four areas which
cover c. 5,000 sq km and range in water depth from c. 400m to 3,000m.
Providence's partners in the new acreage include both existing co-venturers,
such as Chrysaor and Sosina, as well as new entrants, such as Repsol and
FirstOil.

Details of the Licensing options are as follows:

Licensing Option                                  Number of     Partners (Equity
Number           Area Name        Basin           Blocks        %)


11/11            Newgrange        Goban Spur      8             Providence
                                                                (40.0%)
                                                                Repsol (40.0%)
                                                                Sosina (20.0%)


11/9             Drombeg          South Porcupine 6             Providence
                                                                (80.0%)
                                                                Sosina (20.0%)


11/12            Kylemore         Slyne Trough    2             Providence
                                                                (66.6%)
                                                                FirstOil (33.3%)


11/2             Spanish Point    Main Porcupine  6             Providence
                 South                                          (32.0%)
                                                                Chrysaor (58.0%)
                                                                Sosina (10.0%)



Speaking today, Tony O'Reilly CEO of Providence said:

"Providence is delighted to have been awarded such a significant acreage
position on the Irish Atlantic Margin as part of the 2011 Round. Our studies
completed to date indicate a number of structures with significant potential
which will greatly augment our already formidable acreage position offshore
Ireland. Providence now holds licence interests in 8 distinct basins offshore
Ireland, including our first licence in the Slyne Trough offsetting the Corrib
gas field as well as additional acreage adjacent to our Spanish Point gas
condensate discovery. I am also particularly pleased to welcome Repsol and
FirstOil into Ireland as new co-venture partners as well as continuing our very
positive working relationship with Chrysaor and Sosina."


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) and the United Kingdom (onshore). 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 6 different
basins offshore Ireland. This multi-year programme represents the largest
drilling campaign ever carried out offshore Ireland.www.providenceresources.com.

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 member of The Petroleum Exploration Society of Great
Britain. Definitions in this press release are consistent with SPE guidelines.
                          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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