Offshore staff

DUBLIN, Ireland -- Providence has entered into a new farm-in agreement for the AJE Field, located offshore Nigeria. This new partnership comprises of Yinka Folawiyo Petroleum Co., Chevron Nigeria, Vitol Exploration Nigeria, Energy Equity Resources Aje, and P.R. Oil and Gas Nigeria.

An agreement has also been reached to begin drilling the AJE 4 well to test for hydrocarbon-bearing reservoir intervals and potential reservoir zones. Drilling is scheduled for 1Q 2008.

11/12/2007