PVR.L Regulatory News (PVR)

13 Jul 2005 13:01

Providence Resources PLC13 July 2005 Providence Resources P.l.c. Providence Resources P.l.c. ("Providence" or "the Company") Tony O'Reilly Jnr appointed Chief Executive The Board of Providence Resources P.l.c., the oil and gas exploration andproduction company, is pleased to announce that Tony O'Reilly Jnr has beenappointed Chief Executive with effect from September 1st. He is currently ChiefExecutive of Wedgwood, a division of Waterford Wedgwood plc. Mr O'Reilly, aged 38, is a graduate of Brown University in Rhode Island. Heworked in mergers & acquisitions at Dillon Read, the investment bank and incorporate finance at Coopers & Lybrand, advising natural resource companies,before joining ARCON as Director, Planning and Corporate Development in 1992.Hewas Chief Executive at ARCON from 1996 to 2001 and Non-Executive Chairman ofARCON from 2001 until earlier this year when that company merged with LundinMining. He has been a Director of Providence since its foundation on demergerfrom ARCON in 1997 and is currently its Deputy Chairman. He is a Non-ExecutiveDirector of Lundin Mining, one of the world's biggest zinc producers. He joinedWedgwood as Deputy Chief Executive in 2001 and became Chief Executive in 2002. Brian Hillery, Chairman of Providence, said: "Tony has over 15 years experience in the oil and gas sector through ARCON as anexecutive and as a non-executive director of Providence and we are very pleasedthat he is to manage and develop the business at this important stage in thecompany's history. He has greatly assisted in building and maintaining theCompany's relations with strong international partners " Tony O'Reilly Jnr added:"I am very much looking forward to being able to focus full-time on Providence.The company has never had a better environment in which to operate. There isstrong demand for new reserves of oil and gas and prices remain at near recordlevels. Our recent listing on AIM, our 2005 appraisal drilling programme in theAje Field, offshore Nigeria and our prospects offshore Ireland and the UK,provide great opportunities for Providence shareholders." ENDS Contacts:Providence Tel: +353 1 6675740Dr. Brian Hillery ChairmanTony O'Reilly Jnr. Chief Executive Powerscourt Tel: +44 (0) 207 236 5615Rory Godson Mob: +44 (0) 7909 926 020 Murray Consultants Tel: +353 1 4980300Pauline McAlester NOTES TO EDITORS Providence's active oil and gas portfolio includes interests in Ireland (offshore), the UK (onshore and offshore) and West Africa (offshore Nigeria). Providence's portfolio is balanced between production, appraisal and exploration assets, as well as being diversified geographically. Comprehensive information on Providence and its oil and gas portfolio, including the AIM Admission document and Annual Report 2004 are all available from Providence's website at www.providenceresources.com This information is provided by RNS The company news service from the London Stock Exchange