Frontier Exploration Licence 3/04   Dunquin South, Porcupine Basin

Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Energy Company (“Providence” or the “Company”), today provides a licence update on Frontier Exploration Licence (“FEL”) 3/04 located in the southern Porcupine Basin.  FEL 3/04 is operated by Eni Ireland BV (36.913%) on behalf of its partners, Repsol Exploracion Irlanda SA (33.557%), Providence Resources P.l.c. (26.846%) and Sosina Exploration Limited (2.684%), collectively referred to as the “FEL 3/04 Partners”.  The licence contains the undrilled Lower Cretaceous “Dunquin South” carbonate exploration prospect as well as the adjacent “Dunquin North” carbonate build-up, which hosts a residual oil column.

The FEL 3/04 Partners have elected to defer the acquisition of the planned 2019 Dunquin South exploration well site survey, which formed part of the previously approved FEL 3/04 2019 Work Programme & Budget.  Further updates on the revised scheduling of the well site survey will be provided as and when appropriate.