clickable links:

• Operations Summary PAD ZOOMABLE IRISH CONCESSIONS MAP Upstreamonline ARDMORE ► BARRYROE ► BURREN ► CAMA ► CUCHULAIN ► DRAGON ► DROMBEG ► DUNMORE ► DUNQUIN ► HELVICK ► HOOK HEAD ► KISH BANK ► NEMO ► NEWGRANGE ► ORPHEUS ► PEGASUS ► POLARIS ► SILVERBACK ► SPANISH POINT ► SPANISH POINT SOUTH ►

market not pleased here and the share price will continue to take a battering until good results come.

200k--2--3.7 /4.0--3--300k

mb,is there any need for personal insults? I have not sold any nor will at these absurd levels. Celtic Sea is not a dead duck,imho.

time for a management change here?

winner,nothing wrong with the management here inho. Heads down and wait for GOM drills,Singleton drills,Crosby drill and of course Dunquin drills. An acquisition not too far off either.
I have full confidence in Tony,Philip,John and all the team at PVR. Nothing rises indefinitely these days......
Celtic Sea very much in the running still imho.

are the management on share price performance related pay?will they be buying any at these levels?oil below $90 and a continued and costly failure to hit oil is extremely worrying.below 3p soon.imoho

at £25m a penny pvr even at two pence has a market value of £50m

What is the new definition of optimism? A banker who irons 5 shirts on a Sunday night.

below two pence looks likely imoho,disasterous years campaign!!

just gets worse here where will stop?

Winner,today is a new start. EGM on way.

is that good news?

It is a development but devil in detail to come.

According to Oilbarrel.com it involves a resolution to reduce share capital to increase financial flexibility of Providence. A good thing imho.

it would appear an insitution with out much faith dumping stock,not looking good.

Au contraire.

TOR presenting at World JR Oil and Gas Conference in London,December 1 - 3.

MacQuarie Bank was awarded last night best financier of 2008 at above Conference.

Just TUed here on ISEQ!

PROVIDENCE COMMENCES DRILLING
NEW WELL AT SINGLETON OILFIELD

* DRILLING OF L99/02-SWD DEVELOPMENT WELL IS THE FIRST STAGE
OF SINGLETON FIELD RE-DEVELOPMENT PROGRAMME


Providence Resources P.l.c., the London (AIM) and Dublin (IEX) listed
oil and gas exploration and development company, is pleased to
announce that it has commenced new drilling operations on the
L99/02-SWD development well at its Singleton Field in the Weald
Basin, onshore United Kingdom. The new well will be drilled to a
total measured depth of c. 14,000 feet using the Larchford
Drillmaster 1 drilling rig, with drilling operations expected to take
up to 45 days.

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 has
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 L99/02-SWD well
represents the first phase of this field redevelopment, with the well
programmed to target potential zones of un-swept oil within the
Singleton Field. This sub-horizontal well has been designed to
penetrate a c. 2,800 ft section of hydrocarbon bearing reservoir and
is expected to materially increase oil production rates.

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 new development well is the first major activity in our field
re-development programme at Singleton. Pre-drill modeling suggests a
potential production uplift of some 30%, which can be brought on line
immediately. We look forward to updating you on the drilling results
in the coming weeks."

* 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.

http://www.investegate.co.uk:80/article.aspx?id=20090206070200H8013&fe=1