TIDMPVR 
 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
   UPDATE ON BARRYROE FARM-OUT TRANSACTION 
 
   Dublin and London -- June 17, 2019 - Providence Resources P.l.c. (PVR LN, 
PRP ID), the Irish based Energy Company ("Providence" or the "Company"), 
today provides a commercial and operational update in relation to 
Standard Exploration Licence ("SEL") 1/11 which contains the Barryroe 
oil accumulation (the "Barryroe Project").  SEL 1/11 is operated by 
EXOLA DAC ("EXOLA" or the "Operator", 40%), a wholly-owned Providence 
subsidiary, on behalf of its partners, APEC Energy Enterprises Limited 
("APEC") and Lansdowne Celtic Sea Limited ("Lansdowne", 10%).  The area 
lies in c. 100 metre water depth in the North Celtic Sea Basin and is 
located c. 50 km off the south coast of Ireland. 
 
   Background 
 
   On June 5, 2019, the Company announced that it had agreed certain 
amendments to the Farm-Out Agreement (the "Updated FOA") for the 
Barryroe Project with APEC Energy Enterprises Limited ("APEC") and, 
together with EXOLA and Lansdowne, the "Barryroe Partners", including a 
revised backstop date with APEC for receipt of the US$ 9 million loan 
advance to June 14, 2019.  Pursuant to the terms of the Updated FOA, 
this US$ 9 million loan is to cover the costs associated with front-end 
well-site survey operations and pre-drill well consenting. 
 
   Further Extension Agreed up to July 5, 2019 
 
   Due to delays associated with internal transaction processing with their 
investors, APEC have formally requested a further extension of time for 
the payment of the initial US$ 9 million loan.  EXOLA and Lansdowne have 
agreed to this further extension of the backstop date to no later than 
July 5, 2019. 
 
   Well Site Survey Operations 
 
   Subject to receipt of all regulatory consents and required financing, 
the well-site survey operations are expected to commence Q3 2019.  The 
Company will issue a further update in due course. 
 
 
 
 
INVESTOR ENQUIRIES 
-------------------------------------- 
Providence Resources P.l.c.               Tel: +353 1 219 4074 
Tony O'Reilly, Chief Executive Officer 
 
Cenkos Securities plc                     Tel: +44 131 220 9771 
Neil McDonald/Derrick Lee 
 
J&E Davy                                  Tel: +353 1 679 6363 
Anthony Farrell 
 
Mirabaud Securities Limited               Tel: + 44 20 3167 7221 
Peter Krens 
 
MEDIA ENQUIRIES 
-------------------------------------- 
Powerscourt                               Tel: +44 207 250 1446 
Peter Ogden 
 
Murray Consultants                        Tel: +353 1 498 0300 
Pauline McAlester 
 
 
   FORWARD-LOOKING STATEMENTS 
 
   This announcement contains certain forward-looking statements. Actual 
results may differ materially from those projected or implied in such 
forward-looking statements. Such forward-looking information involves 
risks and uncertainties that could significantly affect expected 
results. No representation is made that any of those statements or 
forecasts will come to pass or that any forecast results will be 
achieved. You are cautioned not to place any reliance on such statements 
or forecasts. Those forward-looking and other statements speak only as 
at the date of this announcement. Providence Resources P.l.c undertakes 
no obligation to update any forward-looking statements. 
 
   ABOUT PROVIDENCE RESOURCES PLC 
 
   Providence Resources is an Irish based Oil & Gas Exploration Company 
with a portfolio of appraisal and exploration assets located offshore 
Ireland.  Providence's shares are quoted on the AIM in London and the 
Euronext Growth Market in Dublin. Further information on Providence can 
be found on 
https://www.globenewswire.com/Tracker?data=2bKwIMF7yH7moKkGrQdbMzS52-HGfqJ06daf_iwdJjoK6ub7ubhC23mUZHxNYBf9OhjZ7DYTMQHs58fC1ADJWEeGlFUSuPYtQtNr_h98X3iN8oIvwM0nD7NZVSsdTO1O 
www.providenceresources.com 
 
   ABOUT APEC ENERGY ENTERPRISE LIMITED 
 
   APEC Energy Enterprise Ltd. was established in 2014 as a Hong Kong 
registered company with headquarters in Beijing. In addition to its 
original focus on offshore oil & gas services, APEC provides upstream 
energy acquisition advice and management services in partnership with 
Chinese Oil Companies, offshore and onshore service providers, and SOE 
investment groups. 
https://www.globenewswire.com/Tracker?data=2bKwIMF7yH7moKkGrQdbM7KnFDyyzUFI0ic6odo38vc6mJcn6Own6fix1ef_Uc-yV2Hd6jIKL8Ig5VMGMU90uy0C8-537UkFTbfufUo11WI= 
www.apecenergy.com. 
 
   ABOUT LANSDOWNE OIL & GAS PLC 
 
   Lansdowne Oil & Gas is a North Celtic Sea focussed oil and gas 
exploration company quoted on the AIM market and headquartered in 
Dublin. Lansdowne holds acreage in the north Celtic Sea Basin, Ireland. 
For more information on Lansdowne, please refer to 
https://www.globenewswire.com/Tracker?data=2bKwIMF7yH7moKkGrQdbM98uZYizLWvCEUltWF9b3FwT6ElS4ncJJ7plrMdHxoglfYvgxWOQVphhxxIVC7bfkfyWZmsIKUxdNAuOBMVAekyWLhwVgnEpzG9eJqt5ZBJR 
www.lansdowneoilandgas.com 
 
 
 
 
 
 

(END) Dow Jones Newswires

June 17, 2019 02:00 ET (06:00 GMT)