PROVIDENCE CONFIRMS CLOSING OF TRIANGLE DEAL

Embargo 7am
June 9, 2008


                   PROVIDENCE CONFIRMS CLOSING OF
                            TRIANGLE DEAL


Further to the May 7, 2008 announcement regarding the acquisition of
an oil and gas portfolio in the US Gulf of Mexico from Triangle Oil
and Gas Inc. (Triangle), Providence Resources P.l.c., the AIM and IEX
listed production and development company, is pleased to confirm that
the acquisition has now closed.

Triangle's portfolio of assets comprises interests in 8 producing
fields and 2 development assets.  Within the portfolio, there are
also a substantial number of exploration opportunities. With current
net current production of circa 6 MMSCFGD and 300 BOPD (~1,300
BOEPD), this transaction trebles Providence's current daily
production up to 2,000 BOEPD.

As previously advised, Providence agreed to acquire the Triangle
portfolio for a consideration of US$67.5 million (approx. ¤ 43.5
million), financed through Macquarie Bank Limited, with whom
Providence has a US$ 250 million revolving credit facility.

Contacts:

Providence Resources P.l.c.
                                    Tel: [phone]
Tony O'Reilly, Chief Executive

Powerscourt

Tel: [phone]
Rory Godson/Elizabeth Rous

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


DEFINITIONS

BOPD - Barrels of Oil per Day
MMSCFGD = Million Standard Feet of Gas per Day
BOEPD = Barrels of Oil Equivalent Per Day
This announcement has been reviewed by John O'Sullivan, Exploration
Manager, 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 18 years and is a fellow of the Geological
Society of London and member of the Energy Institute. Definitions in
this press release are consistent with SPE guidelines.

ABOUT TRIANGLE
Triangle Oil and Gas Inc. was founded in Louisiana in 1998.  The
Company operates in the shallow waters (0 - 300 feet) of the central
Gulf of Mexico. The Company is a qualified operator with the US
federal government's regulatory agency, the MMS. Triangle operates an
office in Lafayette, Louisiana.

Triangle operates the MO 861 property with the remainder of the
offshore interests being operated by established Gulf of Mexico
operators, SPN, Mariner, Petsec and Beryl. Brammer operates the Ridge
onshore property. The Company holds a number of interests in 8
producing blocks in federal waters and 1 onshore property.


Asset                                       Interest Oil/Gas Operator
Ship Shoal - SS252/253/267                  ~50%*    Oil/Gas SPN
Main Pass - MP19                            45%      Oil/Gas Petsec
East Cameron - EC257                        12.5%    Gas     SPN
Mobile - MO861                              50%      Gas     Triangle
Vermillion - VR60                           50%      Gas     SPN
West Cameron - WC333                        32.5%    Gas     Mariner
Main Pass - MP 89 (back in Rights for 25%            Gas     Beryl
of 70%**)
Ridge (30%) - Onshore                       30%      Gas     Brammer

* Interest is earned through each well bore.
** Back in rights means that Triangle has the right to take 16.8%
working interest in Main Pass 89 lease once the Operator, Beryl, has
achieved Project payout.  Details on Project payout are still awaited
from the Operator. No consideration is payable by Triangle to acquire
this working interest.
In addition to the producing and development assets being acquired,
Providence has existing interests in 2 other operations in the US
Gulf of Mexico, namely a 5% interest in High Island A268 - (in
production), a 10.8% interest in Galveston A-155 - (under
development) and it continues to seek out other opportunities in the
Gulf of Mexico.

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