Embargoed for release at 11.00am
11th August 2006
DUNQUIN Prospect
OperationalUpdate
* Completion of Survey
* Successful acquisition of 2-D seismic data
Providence Resources Plc ('Providence'), as Operator, is pleased to
announce that, together with its partners ExxonMobil Exploration and
Production Ireland (Offshore) Limited (an ExxonMobil subsidiary) and
Sosina Exploration Limited, the acquisition of over 1,500 km of 2-D
long offset seismic data over the Dunquin Prospect has now been
successfully completed. This seismic data, which was licenced from
Fugro Data Surveys AG, will now be processed, prior to interpretation
and integration with the existing data.
Commenting on the survey, Tony O'Reilly jnr., Chief Executive of
Providence Resources P.l.c. said:
"This is another important milestone for Providence and its partners,
ExxonMobil and Sosina. The results of the processing of this seismic
programme will allow the partners to better define the future work
programme on the Dunquin Prospect."
Contacts:
+----------------------------------------------------------------+
| Providence Resources P.l.c. | |
| Tony O'Reilly jnr., Chief Executive | Tel: + 353 (1) 667 5740 |
|-------------------------------------+--------------------------|
| Powerscourt Media | |
| Victoria Brough | Tel: +44 (0)207 236 5622 |
|-------------------------------------+--------------------------|
| Murray Consultants | |
| Paulline McAlester | Tel: + 353 (1) 498 0300 |
+----------------------------------------------------------------+
Notes to Editors:
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 UK (onshore and offshore) and West Africa
(offshore Nigeria). Providence's portfolio is balanced between
production, appraisal and exploration assets, as well as being
diversified geographically.
Recent corporate announcements include; Annual General Meeting
Statement (announced on June 20th, 2006), Annual Results (announced
on May 17th, 2006), Dunquin Farm-out to ExxonMobil (announced on
February 13th, 2006), a ¤50 million Revolving Credit Finance Facility
with Macquarie Bank (announced on February 2nd, 2006) and increased
production at its Singleton oilfield (announced March 7th, 2006).
Comprehensive information on Providence and its oil and gas
portfolio, including its 2005 AIM Admission document, 2005 Annual
Report, Interim Report 2005 and recent press releases are available
from Providence's website at www.providenceresources.com
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