Singleton Oil Field Acquisition Effective

18 October 2007

              SINGLETON OIL FIELD ACQUISITION EFFECTIVE

           PROVIDENCE DAILY PRODUCTION INCREASES SIX FOLD
   ONSHORE UK PURCHASE TO SEE PROVIDENCE PRODUCTION HIT 720 BOEPD*
     FURTHER EXPLORATION AND DEVELOPMENT POTENTIAL AT SINGLETON


Providence Resources Plc ("Providence"), the AIM and IEX listed
company, today confirms that it has exchanged contracts with Star
Energy Group Plc ("Star") for the purchase of Star's 79.125% interest
in the Singleton oil field, onshore UK. As a result, Providence's
beneficial interest in the Singleton Oil Field increases from 20% to
99.125%, with a corresponding increase in daily production from
approx. 120 BOEPD* to 600 BOEPD*.

Because of the Company's previously announced production in the Gulf
of Mexico, its production should increase six fold this year to 720
BOEPD*.

Today's announcement follows last week's news confirming a
significant oil discovery offshore Ireland.
Under the terms of the Singleton deal (see below for details),
Providence will derive the additional proportional revenue with
effect from October 1st, 2007. The remaining 0.875% of the field is
owned by Noble Resources.

Commenting on the announcement, Mr Tony O'Reilly Jnr., Chief
Executive said:

"We are delighted to conclude the exchange of contracts for the
acquisition of Star's interest in the Singleton Oil Field, especially
coming so soon after our excellent news from Hook Head, offshore
Ireland. Singleton is a significant deal for Providence as this
transaction, when combined with our recently announced High Island
A268 production in the Gulf of Mexico, takes our projected annualised
daily production to over 720 BOEPD*.

"This year, we have gone from a Company with relatively marginal
production to one with a production profile that can generate
meaningful cash flow. Further optimisation opportunities at
Singleton, including monetising some of the associated gas production
via CNG production, will also yield potential opportunities for
increased production volumes in tandem with the deployment of
enhanced oil recovery techniques. Further, with a STOIIP figure in
excess of 70MMBO, and with only circa 4.8% recovered**, your Company
will now look to assess the considerable additional exploration and
development potential in the field."

(*including associated gas production) (**Cumulative recovery figure
is as of 31/12/06)

Contacts:

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

Powerscourt Tel: [phone]
Rory Godson/Elizabeth Rous

Murray Consultants Tel: [phone]
Pauline McAlester/Robert Marshall


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 the all press releases, annual reports and
interim reports are available from Providence's website at
www.providenceresources.com

About the Transaction
On 2 April 2007, Providence and Star announced that they had  reached
conditional agreement on the deal at the Singleton Oil Field, subject
to regulatory approval and contract. Providence and Star also  agreed
a 50:50 JV on a proposed CNG (Compressed Natural Gas) Project at  the
Singleton site  to  capture  the economic  value  of  associated  gas
production. Star  was given  a  first right  of  refusal to  use  the
Singleton Oil Field for Gas  Storage purposes in the future,  working
with Providence on a 50:50 basis and Providence and Star also  agreed
to work together on possible future gas storage opportunities in  the
Republic of Ireland, again on a 50:50 basis.


About Singleton
The Singleton Field is located 7km north of Chichester in the onshore
licence PL 240 in the Weald Basin in the south of England. The  field
consists of two east west trending elongate horst blocks divided by a
narrow graben. The  wells produce  from the  Great Oolite  formation,
consisting predominantly of oolitic lime grainstones deposited during
transgressive/regressive episodes and has been sub-divided into three
members.

The field has been  producing since 1986.  Oil is currently  produced
from 6 wells. Estimates of STOIIP  in the Great Oolite reservoir  are
approximately 70 MMSTB. Cumulative recovery  to 31 December 2006  was
3.37MMSTB, representing a recovery factor  of 4.8%. Produced oil,  at
37* API, is trucked to the Holybourne Rail terminal for sale.



Terms used in this announcement
STOIIP Stock Tank Oil Initially In Place
MMBO Millions of Barrels of Oil
MMSTB Million Stock Tank Barrels of Oil
BOEPD Barrels of Oil Equivalent Per Day (1 BOE = 6,000 SCFG)
SCFG Standard Cubic Feet of Gas Per Day


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 18 years and is a fellow of the Geological
Society of London and member of the Energy Institute. Definitions in
this press release are consistent with SPE guidelines.

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