Providence Turns on the Taps at High Island Well

Providence reports first production from the A2 well at the High Island A268 development in the Gulf of Mexico, offshore Texas. The A2 well was successfully drilled in July 2007 and met pre-drill expectations with the discovery of two high quality gas bearing sands. First production from the A2 well commenced on 5th September. Completion operations are currently ongoing on the A1 well, and first production from that well is expected within the next week or so. Providence holds a 5% interest in High Island A268 and the field is operated by Peregrine Oil and Gas LLC.

Commenting on the announcement, Mr Tony O'Reilly, Chief Executive said:

"We are very pleased to announce first production from the A2 well as it represents a new production area for Providence. The High Island A268 development programme has been a very positive one for Providence since we announced the initial gas discovery in January. This project has been advanced on time and within budget. We now look forward to the A1 well coming on stream later this month."