Thursday 19 April 2018

Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company, provided a licence update regarding Licensing Option (“LO”) 16/27 located in the southern Porcupine Basin. LO 16/27 is operated by TOTAL E&P Ireland B.V. (50.0%) on behalf of its partners, Providence Resources P.l.c. (40.0%) and Sosina Exploration Limited (10.0%), collectively referred to as the “JV Partners”. LO 16/27 contains the undrilled Paleocene “Avalon” exploration prospect.

Providence can confirm that the JV Partners have elected to apply to the Minister of State at the Department of Communications, Climate Action and Environment to convert LO 16/27 into a Frontier Exploration Licence.