Providence Confirms Completion of West African ...

11 April 2008


  PROVIDENCE CONFIRMS COMPLETION OF WEST AFRICAN DRILLING PROGRAMME

        AJE-4 WELL SUCCESSFULLY APPRAISES NE SECTOR OF FIELD

Providence Resources P.l.c., the Irish oil and gas exploration and
development company, whose shares are listed in London (AIM) and
Dublin (IEX), is pleased to announce the completion of drilling
operations on its AJE Field, in OML113, offshore Nigeria.

The AJE-4 well, which was drilled in c. 1,000' water depth using the
drill-ship Transocean Pathfinder, was designed to evaluate the
lateral extent of the oil and gas bearing reservoirs which had been
successfully tested in the AJE-1 & 2 wells located some c. 2 km from
the AJE-4 location.  Drilling operations were carried out by the
Operator, Yinka Folawiyo Petroleum Company Limited in conjunction
with Chevron Nigeria Deepwater H Limited.

As prognosed, the AJE- 4 well encountered Cretaceous aged hydrocarbon
bearing sections, specifically a gas condensate and oil bearing
Turonian reservoir with oil bearing Cenomanian intervals. A
comprehensive logging and coring programme has been completed
together with down-hole pressure measurements and hydrocarbon
sampling. The AJE-4 well is currently being suspended.

The partners in the AJE project are Yinka Folawiyo Petroleum Company
Limited (Operator), Chevron Nigeria Deepwater H Limited (Technical
Adviser), PR Oil and Gas Nigeria Ltd., Vitol Exploration Nigeria
Limited and Energy Equity Resources Aje Limited.

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

"Following on from our recently announced success in the US Gulf of
Mexico, we are delighted with the results from the AJE-4 appraisal
drilling programme. The AJE-4 well results are in line with our
pre-drill expectations and have confirmed our long held view in
relation to the prospectivity of OML113.

We look forward to meeting with our partners in the near term to
discuss the well results in the context of the commercial potential
of the AJE field. Should the AJE field progress to development, it
will have a significant and material impact on Providence's proven
reserves going forward."

Contacts:

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

Powerscourt Tel: [phone]
Rory Godson/Marie Cairney/Elizabeth Rous

Murray Consultants Tel: [phone]
Pauline McAlester/Robert Marshall

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.

About AJE

The AJE Field is situated in Oil Mining Lease 113 (OML 113) in water
depths of up to c. 3,000 feet and is 15 miles offshore Nigeria, being
some 40 miles southwest of Lagos. AJE-4 is the fourth well to be
drilled on the AJE Field, all of which have intersected hydrocarbons.
The discovery well, AJE-1, which was drilled in 1996 encountered oil
and gas in reservoirs of Cretaceous Turonian age, and flowed at an
aggregate rate of 42 MMSCFD and 2,262 BOPD over three zones. An
appraisal well, AJE-2, which was drilled in 1997 also encountered oil
and gas in the Turonian and flowed 3,866 BOPD from an additional zone
in the Cenomanian which had not been tested in the AJE-1 well. The
AJE-3 well, which was drilled in 2005 on the southwest flank of the
field encountered significant gas shows whilst drilling the Turonian
reservoir section and this together with wire-line log data, suggest
that whilst the reservoir quality is not optimum, this section is gas
bearing, In addition, the well data also indicated the presence of
oil within Cenomanian sands.



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.

---END OF MESSAGE---