Providence Resources plc : Singleton Drilling P...

8(th) December 2011


                          SINGLETON DRILLING PROGRAMME


  * COMMENCEMENT OF DRILLING OF NEW WELL


Providence Resources P.l.c., ("Providence") the London (AIM) and Dublin (ESM)
listed oil and gas   exploration and production company, is pleased to confirm
that it commenced drilling a new well yesterday, Wednesday, December 7(th) at
the Singleton field, onshore UK. The Singleton field is located in the Weald
Basin and currently produces up to c. 900 BOEPD. The field is operated by
Providence (99.125%), with partner Noble Energy (0.8725%).

The drilling programme, using the KCA Deutag T49 drilling rig, comprises the
drilling of a new multi-lateral horizontal production well to the south west,
potentially providing up to c. 500 BOEPD of additional cumulative production.
Drilling operations are expected to take up to 100 days and will entail the
drilling of a main well-bore of c.16,800 ft length, which should provide upwards
of 4,000 ft gross exposure to the hydrocarbon reservoir. A subsequent lateral is
also planned which should provide a further 4,000 ft of gross reservoir
exposure. In addition, the new well has been designed to allow for future acid
stimulation, thereby providing further incremental production potential.

Tony O'Reilly, Chief Executive of Providence said:

"This is a very busy and exciting time for Providence with the commencement of
this onshore drilling programme in the UK as well as the ongoing offshore
drilling programme at the Barryroe oil discovery, offshore Ireland, which is
proceeding according to plan.

"This well at Singleton is the third new production well to be drilled over the
past 3 years and it forms a central part of our ongoing field development plan,
which should see us boosting production levels to c. 1,500 BOEPD through a
series of initiatives at the field, including new wells, de-gasification of the
plant and acid stimulation. We look forward to updating the market on the
progress from this programme over the coming months."


CONTACTS:

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


 Powerscourt                     Tel: [phone]
 Rob Greening/Lisa Kavanagh


 Murray Consultants              Tel: [phone]
 Pauline McAlester


 Cenkos Securities Plc           Tel: [phone]
 Adrian Hargrave/Nick Wells


 J&E Davy                        Tel: + 353 (0)1 679 6363
 Eugenee Mulhern/Stephen Barry




ABOUT PROVIDENCE
Providence Resources Plc is an Irish based oil and gas exploration company
listed on the AIM market in London and on Dublin's ESM market. Providence's
portfolio of production, appraisal and exploration assets includes licence
interests in Ireland (offshore) and the United Kingdom (onshore). In 2011,
Providence announced plans to invest with its partners upwards of $500 million
in the drilling of a number of exploration and development wells in 6 different
basins offshore Ireland. This multi-year programme represents the largest
drilling campaign ever carried out offshore Ireland.www.providenceresources.com.

ABOUT SINGLETON
The Singleton oil field is located 7km 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. Recent
studies (2008) suggested an original oil in-place resource of up to c.107 MMBO.
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. Current normalised field production is c. 900 BOEPD with the
produced oil (37o API gravity crude). The latest (March 2011) audited 2P (Proven
+ Possible) reserves are 7.7 MMBO, with a further Possible reserves of 3.3 MMBO.

ANNOUNCEMENT
This announcement has been reviewed by John O'Sullivan, Technical Director,
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 20 years and is a fellow of the Geological
Society of London and member of The Petroleum Exploration Society of Great
Britain. Definitions in this press release are consistent with SPE guidelines.

BOEPD - Barrels of Oil Equivalent per Day
MMBO - Million Barrels of Oil

SPE/WPC/AAPG/SPEE Petroleum Resource Management System 2007 has been used in
preparing this announcement






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Source: Providence Resources plc via Thomson Reuters ONE

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