Providence Completes 2005 Drilling Program on Singleton Field

Providence Resources has successfully completed its 2005 development drilling program on the Singleton oilfield, onshore UK.

The field, in which Providence holds a 20% equity interest, is operated by Star Energy Plc and is located within the Weald Basin in the South of England. The drilling program, which comprised two horizontal wells (X-8x, X-9), was designed to develop reserves not presently accessed by the existing revenue-generating production wells. These new wells, which were drilled utilizing the Marriott-7 drilling unit, are now expected to be tested and brought on-stream in the coming weeks.

The Singleton X-8x well is situated on the northern flank of the field and a 2,000 foot horizontal section was drilled and completed in the Cornbrash and Forest Marble sequences. These units, which lie above the main reservoir in the field, are presently not in production though they are known to be oil-bearing.

The Singleton X-9 well was designed to probe the main Great Oolite reservoir in the southwest flank of the field. The Operator believes that the extended-reach Singleton X-9 well broke the record for the longest 8.5" hole section drilled onshore UK. The 8.5" hole section was drilled from 1,142 feet to 9,282 feet, a length of 8,140 feet. The well has been TD'd at 9,831 feet in 6" hole.

Tony O'Reilly Jr., CEO of Providence commented:
"I am pleased that we have now completed the drilling program at Singleton as it is an important step in our objective to increase our daily oil production. This was a significant and complicated drilling operation that was well executed by the Operator. We now look forward to bringing both these production wells on-stream in the near future."