Providence Upgrades Reserves at Baxters Copse, ...

Embargo 7:00 am
13 April 2010


                              PROVIDENCE UPGRADES

                                    RESERVES

                               AT BAXTERS COPSE,

                                   ONSHORE UK

  * Audit increases resources to c. 33 MMBO STOIIP with c. 5.4 MMBO of
    undeveloped reserves


  * Partners agree to target first oil from Baxter's Copse for 2011


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 provide an update on its exploration evaluation activities
in Petroleum Exploration and Development Licence (PEDL) 233, in the Weald Basin,
Onshore UK. Providence holds an operated 50% equity interest in PEDL 233
together with its partner, Northern Petroleum.  Baxter's Copse is directly
adjacent to Providence's 99.125% owned Singleton Oil field which currently
produces over 800 BOEPD.
PEDL 233 was awarded to the group as part of the 13th UK Onshore

 Licensing Round and contains the Baxter's Copse oil discovery. This discovery
was drilled by Conoco in 1983 and flowed c. 50 BOPD from the original vertical
exploration well. The Baxter's Copse discovery is located c. 5 km northeast of
the Singleton oil field production facilities, which is operated by Providence.
The Group has reprocessed the available 2D seismic data over Baxter's Copse,
which has greatly improved the subsurface imaging. Subsequent interpretation,
depth conversion and mapping have indicated that Baxter's Copse is a
significantly larger oil accumulation than was previously thought.

RPS Energy has carried out a third party audit which indicates that the Baxter's
Copse accumulation contains 2P and 3P undeveloped gross reserves of c. 5.4 MMBO
and c. 15 MMBO, respectively. The partners have agreed a work programme to
advance the Baxter's Copse discovery to development with the first potential
horizontal production well to be drilled from the Singleton facilities in 2011.
The Group also plans to further evaluate the other prospects and discoveries
within PEDL 233.

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

"We are very pleased to report that our work programme on Baxter's Copse has
dramatically upgraded the field's reserve potential and accelerated it towards
development. The deployment of modern seismic processing technologies has been
the key to understanding the potential of the Baxter's Copse discovery and this,
together with our recent redevelopment activities at the Singleton field, bode
well for the ultimate exploitation of these significant reserves. We look
forward to working with our partner Northern Petroleum in the coming months to
advance Baxter's Copse to first oil in 2011, which is good news for Providence
and its shareholders."

Contacts:

Providence Resources P.l.c.  Tel: [phone]
Tony O'Reilly

Powerscourt                            Tel: [phone]
Rory Godson/Lisa Kavanagh

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. 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/>.

Glossary of terms used
All figures quoted are gross figures, unless otherwise stated

BOPD - Barrels of Oil per Day
BOEPD - Barrels of Oil Equivalent per Day
MMBO - Millions of Barrels of Oil
STOIIP - Stock Tank Oil Initially In Place

Onshore UK - Singleton (99.125% interest)
The Singleton Oil Field is located 7 km north of Chichester in onshore licence
PL 240 in the Weald Basin, South of England. The field consists of two east west
trending elongate horst blocks divided by a narrow graben. The wells produce
from the Jurassic-aged Great Oolite formation, consisting predominantly of
oolitic grainstones deposited during transgressive/regressive episodes. Since
production commenced in 1989, the field has produced c. 3.7 MMBO, which
represents a recovery factor to date of c. 3.5%. Published data from similar
fields in the area suggest an ultimate recovery factor of up to c.10% should be
achievable. Recent studies (2008) suggested an original oil in-place resource of
up to c.107 MMBO, a 50% increase over previous estimates which indicates that
there is up to c. 7 MMBO of potential remaining reserves. The produced oil is a
37o API gravity crude and is trucked to the Holybourne Rail terminal.

Following the successful SNX10 development well, which came into production in
Q2 2009, production at the field increased by 250 BOEPD. Further work has now
indicated that Providence could expect to exceed its stated objective of
increasing field production to over 1,000 BOEPD during 2010.

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 20 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.



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