Providence, Exxonmobil & Sosina Secure New ...

1st November, 2006

     Providence Resources P.l.c. ("Providence" or the "Company")
             PROVIDENCE, EXXONMOBIL & SOSINA PARTNERSHIP
                 SECURE NEW OFFSHORE IRELAND ACREAGE

     * 15 BLOCKS AWARDED IN GOBAN SPUR AREA

     * WORK PROGRAMME INCLUDES ACQUISITION OF 500KM OF 2-D SEISMIC
       DATA

Providence, the AIM listed and Dublin IEX listed oil & gas
exploration and production company, today announced that, in
conjunction with interest owners ExxonMobil and Sosina, it has been
awarded 15 new blocks under a Licencing Option in the Goban Spur
area, off the west coast of Ireland, by the Minister for
Communications, Marine and Natural Resources. This follows a joint
application made by the partnership in June 2006, under the open
acreage provisions of the 1992 Licencing Act.
The composition of the partnership is as follows: -

ExxonMobil Exploration & Production (Offshore) Ireland 80%
Providence Resources Plc 16%
Sosina Exploration Limited 4%

with Providence acting as the Operator.

The Licencing Option extends over Blocks 61/17, 18, 19, 20, 22, 23,
24 & 25 & 62/21 over the Goban Graben and Blocks 61/14, 15, 62/11,
16, 17, & 22 over the Goban Spur Basin; and covers a total area of
approximately 4,000sq. km. The Licencing Option has a duration of 3
years, at which point an application can be made for a standard
exploration licence, which carries a well commitment. Located
approximately 300 km offshore, the Licencing Option area is
approximately 150 km due south of the Dunquin Prospect, which
Providence operates as part of a partnership with ExxonMobil and
Sosina.

As part of the work programme, in support of the application for the
Licencing Option, the partnership agreed to carry out a 500 km long
offset 2-D seismic survey over the area, together with gravity and
magnetic data acquisition.

Speaking today, Tony O'Reilly Jnr., Chief Executive of Providence
Resources P.l.c., said:
"The securing of this Licencing Option represents yet another
important part of Providence's stated growth and development
programme, and represents positive news for the Irish offshore
industry. Providence, ExxonMobil and Sosina are already involved in
an extensive work programme at the adjacent Dunquin Prospect, and
this award further demonstrates our real commitment to exploration,
off the west coast of Ireland".
.
Contacts:
Providence Resources P.l.c.
Tony O'Reilly Jnr., Chief Executive Tel: + 353 (1) 667 5740

Powerscourt Media
Victoria Brough / Rory Godson Tel: [phone]

Murray Consultants
Pauline McAlester Tel: + 353 (1) 498 0300

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  UK (onshore  and offshore)  and West  Africa
(offshore  Nigeria).  Providence's  portfolio  is  balanced   between
production, appraisal  and  exploration  assets,  as  well  as  being
diversified geographically.

Recent corporate announcements include;

     * Blackrock Update - OBS (announced October 26th 2006)
     * Interim Results (announced September 27th 2006)
     * Secures Rig Slot for 2007 (announced September 25th 2006);
     * Gardline Geosurveys Ltd Survey (announced September 15th
       2006);
     * 20% Farm-out Deal agreed with CMI on Celtic Sea Licences
       (announced September 5th 2006);
     * Completion of Dunquin Seismic (announced August 8th 2006);
     * Annual General Meeting Statement (announced on June 20th
       2006);
     * Annual Results (announced on May 17th 2006);
     * Dunquin Farm-out to ExxonMobil (announced on February 13th
       2006);
     * ¤50 million Revolving Credit Finance Facility with Macquarie
       Bank (announced on February 2nd 2006); and
     * Increased production at its Singleton oilfield (announced
       March 7th 2006).

Comprehensive information on Providence and its oil and gas
portfolio, including its 2005 AIM Admission document, 2005 Annual
Report, Interim Report 2005 and recent press releases are available
from Providence's website at www.providenceresources.com

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