AGM Announcement June 2008

Providence Resources P.l.c.

ANNUAL GENERAL MEETING

At Providence's Annual General Meeting  held this morning in  Dublin,
shareholders were up-dated  on the  Company's activities  and on  its
future plans, the highlights of which include:

Production


  * Since last year's AGM, Providence has increased daily production
    over 16 x times from approximately 120 BOEPD to approximately
    2,000 BOEPD through the acquisition of the Singleton oil field
    (onshore UK), the purchase of the Triangle oil and gas portfolio
    in the Gulf of Mexico (offshore United Sates) and the
    commencement of gas production from High Island A-268, also in
    the Gulf of Mexico.



  * A just published independent reserve report * on the Triangle
    assets by Collarini Associates has confirmed total net remaining
    proved reserves at 1.57 MMBO + 22 BCF (or 5.24 MMBOE), with
    additional unrisked probable and possible reserves of 2.96 MMBOE
    and 2.93 MMBOE respectively as of January 1st, 2008. Based on the
    Triangle Asset Portfolio acquisition price of $67.5 million,
    Providence has captured the total reserve base (proved, probable
    and possible) for $6.07/BOE. (*A copy of the executive summary of
    the report has been placed on the Providence website).


Development


  * The recently drilled Galveston A-155 Gas Project in the Gulf of
    Mexico is now scheduled for start-up in production in late Q4
    2008, some 8 months after the successful drilling of an
    exploration well, which exceeded pre-drill estimates.



  * Following the successful drilling of the AJE 4 well in Nigeria,
    the next stage of the AJE Project in Nigeria is anticipated to be
    announced in the coming months. Providence is also examining its
    options with regard to this asset.


Drilling


  * As announced on June 19th, Providence is scheduled to commence
    appraisal drilling on its Hook Head Oil Project as well as the
    Dunmore Oil Prospect in the Celtic Sea later this summer.  An
    option to drill a third well has also been taken.



  * Providence is currently finalising an extensive drilling
    programme for its Triangle portfolio in the Gulf of Mexico.
    Further news on this is expected over the coming months.


Exploration


  * Providence, together with its partners, ExxonMobil and Sosina,
    were awarded 13 new blocks in the Southern Porcupine (offshore
    Ireland) further demonstrating the attractiveness of the
    exploration potential of the Atlantic Margin. A seismic
    acquisition programme is underway on the Drombeg licences.



Addressing shareholders, Dr. Brian  Hillery, Chairman of  Providence,
comments:

"This  has  been  a  very   productive  year  for  Providence.    The
acquisition of the Triangle oil and gas portfolio, following on  from
the acquisition  of  the  balance  of the  Singleton  oil  field  has
substantially enhanced  our cash  flow generation  capabilities.  The
Company  continues  to  pursue  a  portfolio  strategy  focusing   on
international production, development and exploration. I particularly
look forward to the  prospect of the  imminent drilling programme  at
Hook Head and  Dunmore in the  Celtic Sea and  the upcoming  drilling
programmes at Singleton and Triangle that should result in meaningful
increases in  daily production.  I believe  Providence is  very  well
placed to develop, and ultimately capitalise, on its extensive  asset
portfolio."


Contacts:

Providence Resources Plc                      Tel: [phone]
Tony O'Reilly, Chief Executive

Powerscourt                                                 Tel:  +44
207 250 1446
Rory Godson/Elizabeth Rous

Murray Consultants                                   Tel: [phone]
0300
Pauline McAlester



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  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  AIM Admission document  and Annual  Reports
are      available      from       Providence's      website       at
www.providenceresources.com
Terms Used in the Announcement

BOEPD - BARRELS OF OIL EQUIVALENT PER DAY
MMBOE - MILLION BARRELS OF OIL EQUIVALENT
BOE - BARRELS OF OIL EQUIVALENT
BCF - BILLION CUBIC FEET

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 19 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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