Providence Commences 2 Well Drilling Program at Val Verde Prospect

Providence Resources has commenced drilling the Carson 10-1 exploration well on its leases in Val Verde County, TX. The vertical well was spud on January 2, 2009 and is expected to reach a target depth of 16,000 feet in approximately 45-60 days of drilling.

The primary objective is the Ellenberger Formation, a gas bearing zone between 14,500 and 16,000 feet identified by Providence through its interpretation of proprietary 3D seismic data. Calibration of the 3D seismic data was aided by integrating the logs of a well (E.P. Royalty Corp.) located about 1 mile west of Providence’s leases as well as a dry hole known as the "Conoco Wilma Carson 1" well. The "E.P. Royalty Corp." well, which was drilled in 1982, confirms gas in the area covered by Providence’s 3D seismic coverage. While drilling down to the Ellenberger Formation, Providence intends to evaluate secondary shallower targets in the Strawn and Pennsylvanian Wolfcamp/Canyon Sands.

The Carson 10-1 well is part of a 2 well exploration drilling program which is operated by Elm Ridge Exploration Company, LLC. Drilling of this well is under the supervision of R.K. Ford & Associates, Inc. (www.rkford.com), a Midland, Texas based drilling and completion company. Providence has identified more than 25 drilling targets from the evaluation of its 3D seismic data.