Providence Completes Development Drilling Progr...

PROVIDENCE COMPLETES DEVELOPMENT DRILLING PROGRAMME AT SINGLETON
                              OILFIELD

*         DRILLING OF EXTENDED REACH DEVELOPMENT WELL SUCCESSFULLY
  COMPLETED

*         ESTIMATED NET RESERVOIR THICKNESS OF C. 1,060 FT

*         WELL DATA CONFIRM BOTH PRIMARY RESERVOIRS ARE HYDROCARBON
  BEARING

*         WELL NOW BEING COMPLETED FOR PRODUCTION


Providence Resources P.l.c., the London (AIM) and Dublin (IEX) listed
oil and gas exploration and production company, is pleased to
announce that it has successfully completed drilling operations on
the L99/02-SWD (SNX-10) development well at its Singleton Field in
the Weald Basin, onshore United Kingdom. This new development well
was drilled to a total measured depth (MD) below rotary table of
13,001 ft (4,158 ft true vertical depth subsea) using the Larchford
Drillmaster 1 drilling rig.

The SNX-10 development well targeted two Middle Jurassic intervals
which form the primary reservoirs for the Singleton Field. Initial
interpretation of the well log data demonstrate that the well has
encountered a total cumulative net reservoir section of c. 1,060 ft
MD. Analysis of the log results confirm that both reservoir zones are
hydrocarbon bearing. Reservoir quality is in line with pre-drill
expectations, however 'sweet spots' exhibiting logged porosities of
up to 21% were encountered. This well is the first on the field to be
geo-steered with the total well length and trajectory being refined
during drilling using real-time down-hole data. This technology
allowed for the optimization of the well path as the hydrocarbon
bearing reservoir intervals were being drilled.

The SNX-10 well is currently being completed for production and will
be brought on-stream over the coming 4-6 weeks at which time the
company will update the market on well performance.

Current production from the field is c. 500 BOPD and c. 1.2 MSCFGD*
(c. 700 BOEPD) from six wells. Providence holds a 99.125% interest
and operates the Singleton Field, with Noble Energy holding the
remaining 0.875%.

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

"This is a great result for Providence. The drilling of the SNX-10
well is an important technical achievement for Providence,
demonstrating our ability to effectively target reservoir sweet spots
utilizing complex geological modeling in tandem with extended reach
well design. The initial review of the well data suggest better
results than had been anticipated, though we will need to bring the
well into production before we can confirm whether the flow rates
will exceed our pre-drill modeling. We are now moving forward to
complete the well and bring it into immediate production.

We are particularly pleased with this well as it represents the first
major activity in our field re-development programme at Singleton and
it gives us even greater confidence for future field development with
the resultant potential for further production increases."



* Only a small proportion of the produced gas is used for operations,
with the remaining portion currently being flared. The Company is in
the process of finalising plans to monetize this flared gas.

Contacts:
Providence Resources P.l.c.
                                                      Tel: [phone]
4074
Tony O'Reilly, Chief Executive

Powerscourt

Tel: [phone]
Rory Godson/Elizabeth Rous

Murray Consultants

Tel: [phone]
Pauline McAlester

Cenkos Securities Plc
                                                                 Tel:
[phone]
Joe Nally/ Nick Wells

Davy

Tel: + 353 1 679 6363
Eugenée Mulhern/ Stephen Barry
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 its 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 (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. 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.

About Singleton
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 1986, 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. 7MMBO
of potential remaining reserves. The produced oil is a 37o API
gravity crude and is trucked to the Holybourne Rail terminal.

About L99/02-SWD (SNX-10)
During 2008, Providence commissioned a number of internal and third
party studies to assess the redevelopment potential and ultimate
resource base of the Singleton Field. These studies confirm that
increased recovery rates are possible and as a result, Providence
commenced a phased programme of targeted development drilling, well
stimulation and work-over activities with the objective of both
accelerating production and increasing reserves. The SNX-10 well
represented the first phase of this field redevelopment, with the
well programmed to target potential zones of un-swept oil within the
Singleton Field.

Terms used in this Announcement
MMBO Millions of Barrels of Oil
MMBOE Millions of Barrels of Oil Equivalent
BOPD Barrels of Oil per Day
BOEPD Barrels of Oil Equivalent per Day
MSCFGD Millions of 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 19 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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