Providence Resources P.l.c. : AGM Results All R...

Providence Resources P.l.c. - AGM Results

ALL RESOLUTIONS PASSED AT AGM IN DUBLIN

Dublin and London - June 26, 2015 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Oil and Gas Exploration Company, held its Annual General Meeting in Dublin today.  All of the resolutions considered and voted upon by shareholders were approved.  The full text of each resolution was included in the notice of the meeting circulated to shareholders.  The Company presented shareholders with an update on its exploration and appraisal portfolio offshore Ireland, including the Barryroe farm out process and post seismic activities off the west coast of Ireland.  With regards to the former, the Company re-affirmed that it is currently in various stages of commercial discussion with multiple potential farminess.  The Company also outlined its objectives for the balance of 2015 and 2016, including plans to participate in the upcoming 2015 Irish Atlantic Licensing Round. A copy of the updated presentation is available on the Company's website - www.providenceresources.com.

Tony O'Reilly, Chief Executive Officer commented:

"Despite the extreme market head-winds that Providence has faced into during the past year, we continue to stay focused on our long-term Irish-centric strategy.  As a result of our work to date, we have now amassed in excess of 330 MMBOE of net audited 2C Contingent Resources at our Barryroe and Spanish Point assets and we also hold the leading acreage position in the Porcupine Basin, which has become a recent focus area for major industry players. Whilst the time required to conclude material commercial transactions is frustrating, we believe this is due to the current economic backdrop and the state of the capital markets rather than any reflection on our portfolio in particular.  Recent stability in the oil market is already facilitating an improved backdrop for investment and, as a result, we are seeing the highest level of third party interest in our portfolio in over three years.  We would like to acknowledge the continued support of our shareholders, who have provided the resources to allow us continue to execute our strategy."  

  INVESTOR ENQUIRIES

Providence Resources P.l.c.
Tony O' Reilly, Chief Executive Officer Dr. John O'Sullivan, Technical Director	Tel: [phone] Tel: [phone]
Cenkos Securities plc	Tel: [phone]
Neil McDonald/Derrick Lee
J&E Davy	Tel: [phone]
Eugenee Mulhern/Anthony Farrell
MEDIA ENQUIRIES
Powerscourt	Tel: [phone]
Lisa Kavanagh/Rob Greening
Murray Consultants	Tel: [phone]
Pauline McAlester

ABOUT PROVIDENCE RESOURCES
Providence Resources is an Irish based Oil and Gas Exploration Company with a portfolio of appraisal and exploration assets located offshore Ireland and the UK.  Providence's shares are quoted on the AIM in London and the ESM in Dublin.

ANNOUNCEMENT
This announcement has been reviewed by Dr. John O'Sullivan, Technical Director, Providence Resources P.l.c..  John holds a B.Sc. in Geology from University College Cork, Ireland, a 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 was recently awarded a PhD in Geology from Trinity College Dublin.  John has worked in the offshore business for more than 25 years and is a fellow of the Geological Society of London and member of The Petroleum Exploration Society of Great Britain and Society of Petroleum Engineers.  Definitions in this press release are consistent with SPE guidelines.  SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in preparing this announcement.

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Source: Providence Resources plc via Globenewswire

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