Company & AGM Statement

5 Aug 2005 14:39

Providence Resources PLC05 August 2005 Providence Resources P.l.c. 5 August 2005 Providence Resources P.l.c. ("Providence" or "the Company") - Mr. Lex Gamble joins Providence Board - Nigerian drilling is confirmed The Board of Providence Resources P.l.c., the international oil and gasexploration/production company, recently listed on AIM, is pleased to announcethat Mr. Lex N. Gamble has been appointed as a Non-Executive Director withimmediate effect. At its Annual General Meeting in Dublin this morning, shareholders were updatedon the Company's active oil and gas portfolio in Ireland, the UK and offshoreWest Africa, Nigeria. The Company also confirmed to shareholders that drillingon the Aje discovery is expected to commence within the next few weeks.All resolutions proposed for consideration at today's AGM were approved byshareholders. Mr. Gamble, aged 67 has been an investment banker for over 35 years and hasprovided strategic advice to more than 200 U.S. and international companies,including several in the FTSE 100 and Fortune 500. During his time as ManagingDirector with Smith Barney Group Inc, Morgan Grenfell Plc and Kidder Peabody &Co Inc, he advised corporate clients on capital raisings totaling in excess ofUS$40 billion. Recently, Mr. Gamble was a Founding Principal of LockwoodFinancial Group, Ltd, a leading provider of consulting and wealth managementservices to high net worth individuals. At the time of Lockwood's sale to theBank of New York in 2002 Lockwood had US$9 billion of assets under management. Mr. Gamble is a Director of the Harris Bank and Trust Company (Chicago),Crosswater Financial Corporation (Minneapolis), Ashford Castle (Ireland), theUniversity of Washington Foundation, and the University of Washington School ofBusiness (Seattle). Previously, he was a Director of General NutritionCorporation, Keystone Capital Corporation, and Northwestern Trust Company.Mr. Gamble holds a Bachelor of Arts Degree from the University of Washington,and a Masters Degree from Harvard Business School. Speaking this afternoon, Dr. Brian Hillery, Chairman of Providence, said: "I am very pleased to welcome Lex to the Board of Providence. Lex's extensive experience will be of immense value to Providence as we drive the business forward. "Providence is in an exciting phase of its development with geographically diversified assets and prospects with different exploration and production timetables. We look forward with confidence to the continuing growth and development of Providence and its portfolio for the benefit of its shareholders". Contacts: Providence Resources Plc Tel: +353 1 667 5740Tony O'Reilly Jnr. Deputy Chairman and Chief Executive Designate Powerscourt Tel: +44 (0) 207 236 5615Rory Godson/ VictoriaBrough Murray Consultants Tel: +353 (1) 498 0300Pauline McAlester NOTES TO EDITORSProvidence'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 explorationassets, as well as being diversified geographically. Comprehensive information on Providence and its oil and gas portfolio, includingthe AIM Admission document and Annual Report 2004, are all available fromProvidence's website at www.providenceresources.com MR. LEX N. GAMBLEMr. Lex N. Gamble holds or has held the following directorships or is or hasbeen a partner in the following partnerships within the past five years:Current DirectorshipsHarris Bank and Trust Company (Chicago)Crosswater Financial Corporation (Minneapolis)Ashford Castle (Ireland)University of Washington FoundationUniversity of Washington School of Business (Seattle)Gamble and Associates Previous DirectorshipsSmith Barney Group IncMorgan Grenfell PlcKidder Peabody & Co IncGeneral Nutrition CorporationKeystone Capital CorporationNorthwestern Trust CompanyMr. Gamble holds a beneficial interest in 6,500,000 ordinary shares ofProvidence Resources P.l.c. There is no further information to be disclosed in accordance with Schedule 2(g) of the AIM Rules or the IEX Rules. Ends. Friday, 5th August 2005 This information is provided by RNS The company news service from the London Stock Exchange