PROVIDENCE CONFIRMS DRILLING OF AJE APPRAISAL W...

18 December 2007


PROVIDENCE CONFIRMS DRILLING OF AJE APPRAISAL WELL, OFFSHORE NIGERIA

* Drilling of AJE-4 Well Now Confirmed for Q1 2008


Providence, the AIM and IEX listed company, is pleased to announce
that following a recent AJE Operating Committee meeting, the drilling
of a further well on the AJE Field, located in OML113, offshore
Nigeria has now been confirmed.

The AJE partnership is composed of Yinka Folawiyo Petroleum Company
Limited ("YFP"), the Operator, Chevron Nigeria Deepwater H Limited
("CNDL"), Vitol Exploration Nigeria Limited ("Vitol"), Energy Equity
Resources Aje Limited ("EER") and P.R. Oil and Gas Nigeria Limited
("Providence"). Drilling operations will be supervised by Chevron in
its capacity as Technical Advisor to the Operator.

The AJE 4 well has been designed to fully appraise the
hydrocarbon-bearing potential of the AJE structure. It is planned
that that drilling will take place mid Q1 of 2008. Further
announcements in relation to this drilling programme are expected
early in 2008.

Commenting on the announcement, Mr Tony O'Reilly, Chief Executive
said:

"We are delighted to be able to confirm the drilling of the AJE-4
appraisal well. This is an important well as it will allow us to
further assess the ultimate reserve potential of the AJE Field".


Contacts:

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

Powerscourt Tel: [phone]
Rory Godson/Marie Cairney

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.  3 wells have been drilled at  AJE,
all of which have intersected hydrocarbons.

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