Executive Summary

Providence Resources Plc (LON:PVR) is an oil and gas exploration and appraisal company with interests in Europe, Asia, Africa and the US. The company began operations as Atlantic Resources PLC in 1981, with Providence Resources having been established in 1997. It has onshore and offshore exploration operations in the UK, US, Ireland, Nigeria and Indonesia. In 2009, Providence Resources earned revenue of €21.1m and it made an operating loss of €1.1m. In July 2010, the company announced that it has identified an additional undrilled 750ft thick hydrocarbon reserve at its Spanish Point discovery. In addition, at its Burren discovery, a 3D survey has identified potential further reserves that are worthy of appraisal and exploration.

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