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 ►

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

Yippee!!

more promise,but little if no delivery.
very poor and overated company so far,imoho.
Must do better.imoho

winner - delivering on the 2008 year end review and it's only February.

2009 OUTLOOK
Singleton, Onshore UK: Drilling of X-10 well in Q1
Gulf of Mexico: Commencement of production at Galveston A-155
Nigeria: AJE Project advancing towards Declaration of Commerciality
Gulf of Mexico: Drilling initiatives/re-completions within Triangle portfolio
Spanish Point, Porcupine Basin: 3-D Seismic programme
Increasing exposure to gas storage opportunities
Dunquin, Newgrange and Drombeg: Forward plans with Exxon Mobil

Regarding Dunquin, Newgrange (Goban Spur) and Drombeg, Providence are constrained in what they can say as ExxonMobil is in the driving seat and will act in their own time. These are massive prospects by anyone's standards, but when the principal supermajor makes its move, expect headlines around the world.

"MAY DRILL FOR CROSBY"Canadian Sterling Resources Acquires Interests in UK North Sea Assets
Thursday, March 12, 2009

Sterling Resources has reached agreement with Challenger Minerals (North Sea) (CMI) under the terms of which CMI may acquire a 10% interest in the Cladhan discovery drilled by Sterling in late 2008. Sterling currently holds a 39.9% working interest in Cladhan, located in Block 210/29 in the northern North Sea. The option to acquire the interest will follow a contribution towards past well costs and the payment of a carry on the forthcoming sidetrack well.

In addition, Sterling will acquire a 10% working interest, on a ground floor basis, in the Crosby well to be drilled by CMI during May. The Crosby well is located in the East Irish Sea and is located between the Lennox and Hamilton fields. Completion is subject to formal agreement and normal partner and government approvals.

http://www.newswire.ca/en/releases/archive/March2009/11/c8040.html

Canadian outfit Sterling Resources is the operator on the Breagh Gas Field and CMI was the contractor.

Oil,we will be vindicated!!