Singleton SNX-10 Well Operational Update: New W...

SINGLETON SNX-10 WELL
                         OPERATIONAL UPDATE


*         NEW WELL SUCCESSFULLY IN PRODUCTION

*         AVERAGE TESTED FLOW RATES OF c.250 BOPD

*         WELL PERFORMANCE SUBSTANTIALLY AHEAD OF PRE-DRILL
  EXPECTATION

*         INCREASE IN FIELD OIL PRODUCTION OF 50% TO c. 750 BOPD

*         POSITIVE RESULT SUGGESTING FURTHER MATERIAL ADDITONAL
  RESERVE POTENTIAL

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 brought the Singleton SNX-10
development well on to production and that the flow rates
considerably exceed the pre-drill estimate.

The SNX-10 development well was brought on to production on 27th
April and following an initial clean up period, well testing has
confirmed the SNX-10 well producing at an average rate of c. 250
BOPD. The success of the well is substantially above the pre-drill
estimate, which was expected to be 150 BOPD.  Total Singleton field
production is now c. 750 BOPD, or c. 950 BOEPD when the associated
gas production* is included.  Providence holds a 99.125% interest and
operates the Singleton field, with Noble Energy holding the remaining
0.875%.

A review of the data supports the revised Singleton reservoir model
which was used to locate the SNX-10 well. This model has also
revealed a significant number of other projects that could further
enhance both the production rates and ultimate reserve potential of
the Singleton Field. Providence has already high-graded a number of
these projects with a view to potential execution later in 2009. In
addition, drilling and completion technologies such as geo-steering,
bespoke concentric jet pump completion design and acid stimulation
were instrumental in the SNX-10 success and will now become integral
tools in the next steps in the re-development of the Singleton Field.

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

"The results have been exceptional, not only has there been a
material increase in daily production rates at Singleton with the
addition of this new well, but equally importantly, the results
support our pre-drill reservoir modeling, which sends out a strong
signal for further reserve and production additions through future
drilling and well re-completion.

"Despite having almost reached our 2010 Singleton production goal of
1,000 BOEPD, we are continuing to evaluate further potential projects
for execution during 2009 which should continue to increase
production rates and grow the reserve base."

* 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
Eugenee Mulherne/ 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 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. 7 MMBO
of potential remaining reserves. The produced oil is a 37o API
gravity crude and is trucked to the Holybourne Rail terminal.
Excluding the new results from X-10, current production from the
field is averaging 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%.

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 under swept oil within
the Singleton Field. In March, the Company completed drilling
operations on the L99/02-SWD (SNX-10) development well at its
Singleton Field in the Weald Basin, onshore United Kingdom. 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. 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.

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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