Providence Resources P.l.c : PROVIDENCE ENTERS ...

Embargo 11.00am
16th June 2014

PROVIDENCE ENTERS INTO
NEW FINANCING FACILITY

Providence Resources P.l.c., the Irish oil and gas exploration and appraisal company, whose shares are quoted in London (AIM) and Dublin (ESM), today announces that it has entered into a financing facility with Melody Business Finance LLC, a US based financial institution for the provision of a $24 million debt facility, the proceeds of which will be used for general working capital purposes. This financing facility, which runs until June 1^st 2015, is secured by way of a floating charge and carries a 10% headline interest rate. Providence's financial advisor on the transaction was New York based EAS Advisors, LLC, acting through Merriman Capital, Inc., a member of FINRA / SIPC.

Contacts:

Providence Resources P.l.c.	Tel: [phone]
Tony O' Reilly, Chief Executive
Powerscourt	Tel: [phone]
Lisa Kavanagh / Rob Greening
Murray Consultants	Tel: [phone]
Pauline McAlester
Cenkos Securities Plc	Tel: [phone]
Nick Wells / Max Hartley
J&E Davy	Tel: + 353 1 679 6363
Eugenee Mulhern
Liberum	Tel: [phone]
Clayton Bush

ABOUT PROVIDENCE
Providence Resources Plc is an Irish based company with a portfolio of appraisal and exploration assets offshore Ireland and the U.K. The Company is currently leading a circa $500 million multi-year drilling programme on a number of exploration/development wells over 6 different basins offshore Ireland, representing the largest drilling campaign ever carried out offshore Ireland www.providenceresources.com

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Providence Resources plc via Globenewswire

HUG#1793256