Share Name Share Symbol Market Type Share ISIN Share Description
Providence Resources Plc LSE:PVR London Ordinary Share IE00B66B5T26 ORD EUR0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.25 7.94% 3.40 3.30 3.50 3.40 3.15 3.15 1,057,268 14:46:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -18.1 -3.0 - 28

PROVIDENCE RES. Providence Resources P.L.C. Announces Leadership Change

06/12/2019 7:00am

UK Regulatory (RNS & others)

   This announcement contains inside information within the meaning of the 
EU Market Abuse Regulation 596/2014. Upon the publication of this 
announcement, this inside information is now considered to be in the 
public domain. 
   Providence Resources P.l.c. announces Leadership change 
   Dublin and London -- December 6, 2019 - Providence Resources P.l.c. 
("Providence" or the "Company"), the Irish based Energy Company, today 
announces that Tony O'Reilly has stepped down from the position of Chief 
Executive Officer of the Company and has resigned from the Board (and 
all subsidiaries) with immediate effect.  The Board has initiated a 
process to identify and recruit a new Chief Executive Officer to lead 
Providence in its next phase of development, and a further announcement 
will be made as soon as this process is completed.  Mr. O'Reilly has 
agreed to work with the Board, to the extent required, until the end of 
January 2020 to ensure an orderly transfer of his responsibilities.  In 
the interim, his executive functions will be assumed on a temporary 
basis by Pat Plunkett, Chairman. 
   Pat Plunkett, Chairman of Providence, commented: 
   "Since the foundation of the Company, Tony has been the main driver 
behind the development of the business and has been passionate in 
promoting the Company's role in oil and gas exploration in the Irish 
offshore sector. Over the years, Tony led the Company into partnerships 
with some of the world's leading energy companies including ExxonMobil, 
Eni, Chevron, Repsol, Petronas and Total.  A major milestone during his 
tenure at Providence was the successful drilling and testing of Barryroe 
located in the North Celtic Sea Basin which has provided the Company 
with a world class development asset which is capable of providing 
significant shareholder value in the coming years. 
   Tony leaves by mutual and amicable agreement and has the great 
appreciation of the Board for his management of Providence through 
multiple E&P cycles.  On behalf of all of Providence's stakeholders, I 
would like to thank Tony for his many years of dedication and hard work 
at Providence and I wish Tony every success in his future endeavours". 
   Tony O'Reilly added: 
   "After more than two decades with Providence, it is time for me to 
pursue new opportunities.  I am extremely proud of all that we have 
achieved over the years and the key role that our collective team 
efforts at Providence have played in establishing interest in Ireland's 
offshore arena.  I wish all stakeholders in Providence every success in 
the years ahead, particularly with the Barryroe Project." 
Providence Resources P.l.c.  Tel: +353 1 219 4074 
Pat Plunkett, Chairman 
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 
Powerscourt                  Tel: +44 207 250 1446 
Peter Ogden 
Murray Consultants           Tel: +353 1 498 0300 
Pauline McAlester 
   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. 
   Providence Resources is an Irish based Energy 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 

(END) Dow Jones Newswires

December 06, 2019 02:00 ET (07:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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