TIDMPVR

RNS Number : 9559T

Providence Resources PLC

27 July 2022

Providence Resources P.l.c.

Result of AGM

Dublin and London - 27(th) July 2022 Providence Resources P.l.c (PVR), the Irish based energy company, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held earlier today.

James Menton, Chairman, Providence Resources said, "I welcome today's opportunity to address our shareholders and bring them up to date on the Board's activities over the last 12 months. The Board's primary objective remains the successful optimisation of the Barryroe Field, which represents an opportunity to develop a vital indigenous source of oil and gas. At a time when geopolitical uncertainty necessitates that all energy options must be given due consideration, we believe that the Barryroe Field has the potential to have a significantly positive impact on Ireland's security of energy supply in the coming years. Indigenous oil and gas supplies will be critical in providing a substitute for the imports that will be required to meet ongoing demand during Ireland's energy transition to Net Zero"

Alan Curran, Interim Chief Executive, Providence Resources, said, "My initial review of Barryroe confirms its material potential as an oil and gas asset that is ready for appraisal drilling. However to progress and harness the enormous potential in the Barryroe Field as soon as possible, regulatory consent by way of the Lease Undertaking is required. No further material technical progress can be made without this."

ENDS

Investor Enquiries:

   o   Providence Resources P.l.c.                 Tel: 353 1 219 4074

James Menton

Chairman

   o   Investor Relations                                  Tel: 353 87 6620234

Job Langbroek

   o   J & E Davy                                                Tel: 353 1 679 6363

Anthony Farrell

Media Enquiries:

   o   AM O'Sullivan PR                                    Tel: 353 87 9881890 / tina@amosullivanpr.ie

Tina Quinn

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END

RAGSEMFFWEESELW

(END) Dow Jones Newswires

July 27, 2022 07:49 ET (11:49 GMT)

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