Providence Signs Strategic Seismic Collaboratio...

25  February 2010


                           PROVIDENCE SIGNS STRATEGIC

                              SEISMIC COLLABORATION

                               AGREEMENT WITH PGS

                                    VENTURES

  * AGREEMENT TO COVER OFFSHORE SEISMIC SURVEY DESIGN & ACQUISITION


  * PROVIDENCE TO GAIN ACCESS TO VIEW PGS MULTI-CLIENT SEISMIC DATA OFFSHORE
    IRELAND AND OFFSHORE UK


Providence Resources P.l.c., ('Providence') the Irish oil and gas exploration
and production company, whose shares are listed in London (AIM) and Dublin
(IEX), is pleased to announce that it has signed a strategic collaboration
agreement with PGS Ventures A/S, a division of Petroleum Geo-Services (PGS), an
 industry  leader in offshore seismic data acquisition and processing.

This agreement will allow the companies to co-operate on offshore seismic survey
design and acquisition across the portfolio, particularly in such challenging
data areas such as the Celtic Sea Basin where Providence is currently evaluating
a number of oil and gas discoveries, through its SPV's EIRGAS and EXOLA. Where
possible, and as appropriate, Providence will seek to leverage on PGS'
proprietary technology such as the "GeoStreamer" seismic acquisition system. In
addition, Providence will also gain access to view PGS' significant multi-client
seismic database offshore Ireland and offshore United Kingdom.

Speaking today, Tony O'Reilly, Chief Executive of Providence, said:

"We are delighted to enter into this collaboration agreement with PGS Ventures
which we believe will have a material impact on the development of our asset
portfolio. In addition, we look forward to gaining access to view PGS' data
library both offshore Ireland and the UK and benefit from their intelligence as
we work with them in the development of future projects"

Contacts:
Providence Resources P.l.c.   Tel: [phone]
Tony O'Reilly, Chief Executive

PGS Ventures                              Tel: [phone]
Aaron D'Este

Powerscourt                                Tel: [phone]
Rory Godson/Elizabeth Rous

Murray Consultants                   Tel: [phone]
Pauline McAlester


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
<

http://www.providenceresources.com/>.

About PGS

Petroleum Geo-Services (PGS) offers a broad range of products including; seismic
and electromagnetic services, data acquisition, processing, reservoir
analysis/interpretation and multi-client library data. PGS helps oil companies
to find oil and gas reserves offshore worldwide.

PGS was founded in Norway in 1991, with 2 seismic ships and some highly
innovative ideas on how to reshape the industry. Today, PGS shares the same
drive to innovate as inspired its founders, though the team is bigger:

  * 16 offshore seismic vessels
  * 23 data processing centers
  * 41 offices worldwide, employing 67 nationalities


PGS has offices in over 25 countries with regional centres in London, Houston
and Singapore. The PGS headquarters is in Oslo, Norway and the PGS share is
listed on the Oslo stock exchange (OSE:PGS).  Comprehensive information on PGS
is available on its website at www.pgs.com <

http://www.pgs.com/>

About PGS Ventures

PGS Ventures is the external investment arm of PGS.  Established in 2008, PGS
Ventures makes direct investments in oil & gas companies worldwide that engage
actively in exploration.  Leveraging capabilities across the PGS group, PGS
Ventures is able to provide a unique combination of financial and technical
solutions to its partners.

Announcement

This announcement has been reviewed by John O'Sullivan, Exploration Manager,
Providence Resources P.l.c. John holds a B.Sc. in Geology from University
College Cork, Ireland, an 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 is presently
working part-time on a PhD dissertation at Trinity College, Dublin. John has
worked in the offshore business for 20 years and is a fellow of the Geological
Society of London. Definitions in this press release are consistent with SPE
guidelines.


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