Singleton Oil Field Operations Update

SINGLETON OIL FIELD
                          OPERATIONS UPDATE


*         Singleton production planned to exceed 1,000 BOEPD during
  2010

*         New development well being planned for early 2010 on foot
  of successful 2009 SNX-10 well results
o   Currently in discussion with rig operators for new well
o   Studies indicate new well could flow up to 400 BOEPD

*         Production enhancement programme planned for Q4 2009

*         Gas monetization - Gas-To-Wire project to monetize c. 200
  BOEPD of gas production

*         Hydraulic fracturing - study commenced to unlock the
  potential of 300% productivity increases in fractured wells


Providence Resources P.l.c., the London (AIM) and Dublin (IEX) listed
oil and gas exploration and production company, is pleased to
announce an update on the continuing re-development plan for the
Singleton Oil Field onshore UK. Following the recently successful
SNX10 development well, which came into production in Q2 2009,
production at the field increased by 250 BOEPD. Further work has now
indicated that Providence could expect to exceed its stated objective
of increasing field production to over 1,000 BOEPD during 2010. The
production increase is expected to be achieved through a phased
programme of activities on the field, as outlined below.

2010 Drilling Plan

Recent technical studies, post the successful SNX-10 well, have
revealed a number of further infill drilling opportunities which
would further significantly enhance both the production rates and
ultimate reserve potential of the Singleton Field. Providence has
high-graded a location in the western part of the south fault block
for a new development well. Planning operations for drilling this new
well during the first half of 2010 have commenced, and discussions
are taking place with rig operators to secure a rig for this well. It
is planned that the well will be longer than the recent successful
SNX-10 well, with an objective to intersect twice as much reservoir
section as the SNX-10 well. Studies indicate that initial flow-rates
of up to c. 400 BOEPD could be achievable due to the extra reservoir
exposure, together with the higher reservoir pressures expected in
this area.

Production Enhancement

Providence continually works to maximize production and reserves from
the existing production wells at Singleton.  Providence has designed
a major well production enhancement programme on these wells, which
it will carry out over the coming months. This programme includes
acid stimulation aimed at increasing well productivity, thereby
resulting in increased oil rates and reserves. Further optimization
will be carried out on the artificial lift mechanisms on one of the
wells, with a new jet pump configuration being installed in Q1 2010
to maximize oil rate and reserve potential in this well. Combined,
the production enhancement programme on Singleton is expected to
yield up to c.100 BOEPD of increased production in the short term.
Gas Monetization

Currently c. 200 BOEPD of gas at Singleton is flared. Providence
previously announced that it planned to monetize this gas utilizing
Compressed Natural Gas (CNG) technology. Having completed its review
of the gas monetization project, Providence has concluded that the
most economically beneficial manner in which to monetize the gas is
now through a Gas-To-Wire (GTW) power generation scheme. This
involves increasing the current onsite gas fired electrical
generation capacity and exporting the power to the national grid. The
initial phase of the GTW project is scheduled to be complete by the
end of Q1 2010 and will utilize c. 60 BOEPD of gas. The final phase
of project should be operational by Q4 2010 which will increase gas
monetization to 200 BOEPD.
Hydraulic Fracturing

Providence has recently engaged industry fracture stimulation experts
StrataGen (formerly Pinnacle Technologies) to undertake a study on
hydraulic fracturing of the Singleton field. Pending final outcome of
the study, Providence plans to perform fracture stimulation in an
existing production well during the first half of 2010. Fracture
stimulation could be expected to dramatically increase oil
production, with suggestions that up to a 3 fold increase in initial
oil rate per well may be possible. Depending on the results of this
programme, further wells may be included in the programme.

Speaking today, Tony O'Reilly, Chief Executive of Providence, said:
"Building on our recent success during the spring, with the new
SNX-10 well, we continue to progress with our re-development of the
Singleton Field. By applying cutting edge technology to Singleton
through sub-surface modeling, extended reach geo-steered wells, and
applying fracturing and stimulation techniques, we plan to exceed our
target of producing over 1,000 BOEPD during 2010. Our ultimate aim is
to maximize production, as well as reserve potential, whilst also
ensuring that Singleton is one of the best managed oil fields onshore
UK."

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
Eugenee Mulhern/ Stephen Barry

NOTES TO EDITORS

About Providence
Providence Resources P.l.c. 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), 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 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. 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. 7 MMBO
of potential remaining reserves. The produced oil is a 37o API
gravity crude and is trucked to the Holybourne Rail terminal.

In March 2009, the Company completed drilling operations on the
SNX-10 development well.This 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.
Analysis of the well log data demonstrate that the well encountered a
total cumulative net reservoir section of c. 1,060 ft MD. This well
was 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. Initial Production from SNX-10 was c. 250 BOEPD. Prior to
the results from SNX-10, production from the field was averaging c.
500 BOPD and c.1.2 MSCFGD from six wells.

Providence holds a 99.125% interest and operates the Singleton Field,
with Noble Energy holding the remaining 0.875%.

Terms used in this Announcement
MMBO Millions of Barrels of Oil
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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