1112064--3/31/2009--PROVIDENCE_RESOURCES

related topics

{gas, price, oil}

{control, financial, internal}

{stock, price, share}

{acquisition, growth, future}

{cost, regulation, environmental}

{cost, operation, labor}

Risks Related to the Company s Business The Company has a history of operating losses and such losses may continue in the future. The Company has a history of uncertainty about continuing as a going concern. The Company has a limited operating history as an oil and gas exploration company. The Company cannot represent that it will be successful in continuing operations. Risks Related to the Oil and Gas Industry Oil and natural gas drilling and producing operations involve risks which could result in net losses. The Company is subject to federal, state and local laws and regulations which could create liability for personal injuries, property damage, and environmental damages. Shortages of oil field equipment impact the Company s operating results The results of the Company s current operations depend on the exploration and operational efforts of third parties. al gas prices are volatile, any substantial decrease in prices could cause the Company to con tinue to operate at a loss even in the event that we are successful in producing oil and gas. Risks Related to the Company s Stock The Company may require additional capital funding. The market for our stock is limited and our stock price may be volatile. We incur significant expenses as a result of the Sarbanes-Oxley Act of 2002, which expenses may continue to negatively impact our financial performance. Our internal controls over financial reporting may not be considered effective in the future, which could result in a loss of investor confidence in our financial reports and in turn have an adverse effect on our stock price. s shareholders may face significant restrictions on their stock.

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1112064--3/31/2009--PROVIDENCE_RESOURCES_INC