Providence Resources Annual General Meeting

23 June 2009


                     Providence Resources P.l.c.

                       ANNUAL GENERAL MEETING


At Providence's Annual General Meeting held this morning in Dublin,
shareholders were updated on the Company's activities and on its
future plans - the key highlights of which include:


PLACING

The Company today announces the conditionally placing (the "Placing")
of up to 431,883,450 new ordinary shares of ¤0.001 each at a price of
sterling 3.3 pence per new ordinary share. The Placing, arranged
through Cenkos Securities plc in London, is expected to raise
approximately £14.3 million (¤16.8 million) before expenses. The
proceeds will be used to further strengthen Providence's balance
sheet by reducing debt levels and to provide working capital for
future investments in revenue enhancing projects.

Application will be made the Irish Stock Exchange and to the London
Stock for the new ordinary shares to be admitted to trading on the
IEX market of the Irish Stock  Exchange and to the AIM Market of the
London Stock Exchange. Dealings are expected to commence in these new
ordinary shares on 30 June 2009.


EIRGAS OPTION TO ACQUIRE 40% OF KINSALE HEAD

The Company has entered into an Option Agreement with PETRONAS to
acquire 40% of the Kinsale Head gas production, storage and trading
business.

PETRONAS acquired the assets from Marathon Oil Corporation in a deal
worth $180 million in April of this year. The deal was effective
January 1st, 2008.

The assets include Ireland's only operating gas storage facility in
the SW Kinsale gas field.  If the Option is executed as planned,
Providence's attributable daily production will double to over 4,000
BOEPD. Providence will also gain exposure to new and existing gas
storage and trading opportunities, which is seen as a high potential
future growth area.

In many EU Countries, particularly those on the periphery such as
Ireland and the UK, are in short supply of strategic gas reserves and
storage facilities.  The existing security of supply uncertainty,
particularly in the context of recent issues in the Ukraine discussed
at last week's EU Leader's Summit, will drive the need to develop
such further gas storage projects.


PRODUCTION

The current and planned production increases from existing assets
should see the Company  reach its target of 3,000 BOEPD by year end.
Looking further ahead, the Company is planning production rates to
reach 5,000 BOEPD in 2012.

A recently published independent reserve report* on the Company's
producing assets at the UK onshore Singleton oil field together with
the Gulf of Mexico assets by Collarini Associates shows total
confirmed proved, probable and possible reserves of 12.5 MMBO and
50.8 BCF (or 21.0 MMBOE), broken down as follows,

Proved           6.3 MMBO and 24.8 BCF (10.4 MMBOE)
Probable        2.2 MMBO and 12.3 BCF (4.3 MMBOE)
Possible         4.0 MMBO and 13.7 BCF (6.3 MMBOE)

(*A copy of the executive summary of the report has been placed on
the Providence website).


DEVELOPMENT


  * The Galveston A-155 gas field development in the Gulf of Mexico
    is expected to start-up within the next 4 weeks.



  * Aje Field, offshore Nigeria has been deemed a commercial
    discovery. Accordingly, the partners have authorised Chevron, as
    Technical Advisor to the Operator, to prepare a development plan
    for the Aje Field.



  * The 3D seismic programme over Spanish Point in the Porcupine
    Basin has just commenced.



  * Sub-surface and drilling studies are continuing on the Baxter's
    Copse oil discovery in PEDL 233 which was awarded as part of the
    13th UK Onshore Round and which lies adjacent to the Singleton
    oil field. The Company holds a 50% operated interest in this
    licence with Northern Petroleum as a partner.



  * The Company secured further acreage on a 100% equity basis around
    the Dragon discovery in the St George's Channel Basin, offshore
    Ireland





DRILLING

Providence is currently finalising plans with its various partners
for further well intervention and drilling programmes on its offshore
assets in the Gulf of Mexico and onshore UK at the Singleton oil
field. Further details are expected to be provided later in the year.


  * The recent re-completion of a well off the Vermillion 60 platform
    in the Gulf of Mexico is an example of the opportunities within
    the Gulf of Mexico asset portfolio. This well re-completion
    increased Providence's net production from c. 25 BOEPD to c. 600
    BOEPD.



  * At Singleton, the recent X10 development well was brought
    on-stream with production rates exceeding expectations by more
    than 60%. The field modeling which was used to locate the X10
    well has identified further infield targets which are currently
    being assessed for future drilling.



EXPLORATION


  * Providence, together with its partners, ExxonMobil and Sosina,
    continues to evaluate the potential of the Dunquin, Drombeg and
    Newgrange (formerly known as Goban Spur) exploration prospects.
    The consortium currently has interests in 27 blocks in the
    Porcupine Basin.



  * Analysis continues with Star Energy (the leading UK gas storage
    player)/PETRONAS on the ULYSSES Project (gas storage and carbon
    sequestration) as well as general exploration in the Kish Bank
    Basin, offshore Dublin.


Dr. Brian Hillery, Chairman of Providence, commented:

"On top of a busy year, in recent days, we made two very important
announcements - this morning's announcement on the raising of
approximately £14.1 million and last week's announcement on the
Kinsale Option. The successful share placement allows the Company to
strengthen its balance sheet by reducing debt levels as well as
providing an appropriate amount of equity capital for investment in
future revenue enhancing projects.

"The three month Kinsale Option (through our subsidiary EIRGAS) to
acquire 40% of Kinsale Head represents a truly unique investment
opportunity for the Company. Upon exercise, not only will it give
Providence significant gas production here in Ireland but it will
also move us into the lucrative world of gas trading and storage.
Importantly, Kinsale Head comprises Ireland's only working gas
storage facility.

"These two events complement the existing activities of the Company.
With its growing production levels, its advancing development
projects, its extensive exploration portfolio and its world class
partners, I believe that this tightly managed portfolio of assets
gives Providence shareholders a unique investment platform. This,
together with our focus on costs, means that Providence shareholders
can look to the future with optimism".



Contacts:

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

Powerscourt
                        Tel: [phone]
Rory Godson/Elizabeth Rous

Murray   Consultants
            Tel: [phone]
Pauline McAlester

Cenkos Securities Plc
            Tel: [phone]
Joe Nally/ Nick Wells

Davy
                        Tel: + 353 1 679 6363
Eugenée Mulhern/ Stephen Barry



Explanatory Notes


About Providence

Providence Resources Plc  is an independent  oil and gas  exploration
and production 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, the United Kingdom, the  United States (Gulf of Mexico)  and
West Africa  (Nigeria). Providence's  portfolio is  balanced  between
production, appraisal  and  exploration  assets,  as  well  as  being
diversified geographically.
Further information  on Providence  and its  oil and  gas  portfolio,
including Annual Reports are  available from Providence's website  at
www.providenceresources.com

Providence has been successful in attracting high profile
partnerships across it operations, including:

- ExxonMobil - the world's largest publicly traded international oil
and gas company

- PETRONAS - wholly-owned by the Malaysian Government, it is a
fully-integrated oil and gas corporation and is ranked among FORTUNE
Global 500's largest corporations in the world.

- CMI/Transocean - the world's largest offshore drilling contractor,

- Chevron - one of the world's largest integrated energy companies
PROVIDENCE - ASSETS BY REGION


        Asset          Location  Operator       %          Type
IRELAND
                      NE Celtic                       Oil and gas
Pegasus               Sea        Providence  100.0%   exploration
                      NE Celtic                       Oil and gas
Orpheus               Sea        Providence  100.0%   exploration
                      NE Celtic                       Oil and gas
Dionysus              Sea        Providence  100.0%   exploration
                      NE Celtic
Dragon (part)         Sea        Marathon    c. 25.0% Gas development
                                                      Oil and gas
Hook Head             Celtic Sea Providence  53.2%    discovery
Dunmore               Celtic Sea Providence  53.2%    Oil discovery
                                                      Oil and gas
Helvick               Celtic Sea Providence  53.2%    discovery
Ardmore               Celtic Sea Providence  53.2%    Gas discovery
Blackrock             Celtic Sea Providence  53.2%    Oil discovery
                                                      Oil and gas
LO 1/07               Celtic Sea Providence  53.2%    exploration
                                                      Oil and gas
Barryroe              Celtic Sea Lansdowne   30.0%    discovery
                      Porcupine
Spanish Point         Basin      Providence  56.0%    Gas development
                      Porcupine
Burren                Basin      Providence  56.0%    Oil discovery
                      Porcupine                       Oil and gas
FEL 4/08              Basin      Providence  56.0%    exploration
                      Porcupine                       Oil and gas
Dunquin               Basin      ExxonMobil  16.0%    exploration
                      Porcupine                       Oil and gas
Drombeg               Basin      ExxonMobil  16.0%    exploration
                      Goban Spur                      Oil and gas
Newgrange             Basin      Providence  16.0%    exploration
                      Kish Bank                       Oil and gas
Kish                  Basin      Providence  50.0%    exploration

UNITED KINGDOM
                                                      Oil and gas
Singleton             Onshore    Providence  99.1%*   production
Baxter's Copse        Onshore    Providence  50.0%    Oil discovery
                                                      Oil and gas
Burton Downs          Onshore    Providence  50.0%    exploration
*99.125%

UNITED STATES
                      Gulf of                         Oil and gas
High Island A 268     Mexico     Peregrine   5.0%     production
                      Gulf of
Galveston A 155       Mexico     Peregrine   10.8%    Gas development
Ship Shoal            Gulf of                         Oil and gas
252/253/267*          Mexico     SPN         50.0%    production
                      Gulf of                         Oil and gas
Main Pass 19          Mexico     Petsec      45.0%    production
                      Gulf of
East Cameron 257      Mexico     SPN         12.5%    Gas production
                      Gulf of
West Cameron 333      Mexico     Mariner     32.5%    Gas production
                      Gulf of
Vermillion 60         Mexico     SPN         50.0%    Gas production
                      Onshore
Ridge                 Louisiana  Brammer     30.0%    Gas production
                      Gulf of
Main Pass 89**        Mexico     Beryl       17.5%    Gas production
*Earned interest
through well bore
** Back-in rights for
25% of 70% after pay
out

NIGERIA
                      Offshore                        Oil and gas
AJE,OML 113           Nigeria    YFP/Chevron 5.0%     development



Announcement

In accordance with the AIM Rules - Guidance for Mining and Oil & Gas
Companies, the information contained in this announcement has been
reviewed and approved by John O'Sullivan, Exploration Manager of
Providence Resources P.l.c. John O'Sullivan is a Geology graduate of
University College Cork and holds a Masters in Geophysics from The
National University of Ireland, Galway. John also holds a Masters in
Technology Management from the Smurfit Graduate School of Business at
University College Dublin and is presently completing a dissertation
leading to a PhD in Geology at Trinity College, Dublin. John is a
Fellow of the Geological Society and a member of the Petroleum
Exploration Society of Great Britain. He has 19 years experience in
the oil and gas exploration and production industry and is a
qualified person as defined in the guidance note for Mining Oil & Gas
Companies, March 2006 of the London Stock Exchange.


Glossary of Terms Used

BCF                  Billion Cubic Feet of Gas
MMBO              Million Barrels of Oil
BOEPD            Barrels of Oil Equivalent per Day

MMBOE            Millions of Barrels of Oil Equivalent (1 BOE = 6,000
SCFG)

SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been
used in preparing this announcement

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