Dublin (Platts)--7Apr2008

Dublin and London-listed junior Providence Resources said Monday it has
made a gas discovery on Galveston Island Block A-155 in the Gulf of Mexico,
100 km off the US coast.

Initial evaluation suggests that the well results have exceeded the
expected pre-drill reserve estimates of 13 Bcf of gas. Providence holds a
10.8% interest in the field.

Operator Peregrine Oil & Gas plans to fast-track production from the
field and has already secured access to third-party infrastructure as part of
the plan of development, Providence said.