PROVIDENCE RESOURCES INC

2 Oct 2006asset acquisition disposition● NeutralMajor

On September 29, 2006, after shareholder approval at the special meeting, Healthbridge completed the Providence Exploration acquisition by issuing 4,286,330 shares for the membership units and 12,213,670 shares for Providence's promissory notes. Providence, formed in July 2005, is an exploration-stage company without proven reserves, with three businesses: oil and gas exploration, buying and selling drilling and service rigs, and drilling services (through PDX Drilling I, LLC). Its assets include a 90% working interest in about 7,374 acres in Comanche and Hamilton Counties (partner and operator Harding Company, 10%) and about 12,832 Val Verde County acres bought from Global Mineral Solutions, L.P. The filing also has a going-concern section. This resolves the pending acquisition thread and turns the former medical-waste shell into an oil and gas explorer.

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12 Sept 2006business combination● NeutralMajor

Healthbridge filed the final proxy for a September 29, 2006 special meeting (record date September 12, with 31,366,327 shares outstanding) to vote on the name change to Providence Resources, Inc., the Providence Exploration acquisition, and raising authorized shares from 50 million to 100 million. The board recommends voting FOR all three. The fee table now uses $0.98 (September 7, 2006 price) for 16,500,000 shares, about $16.17 million, down from $1.165 in the preliminary filing. This is the vote the delayed closing date was waiting on.

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31 July 2006capital raising announcement● NeutralMajor

Healthbridge closed a share-and-warrant financing on July 21, 2006 that began April 20, 2006 and aimed at up to $10,000,000, selling $6.00 units of 10 shares plus 5 warrants exercisable at $1.00 for 3 years. It authorized 6,656,950 shares to 117 U.S. investors for $3,973,170 and 6,864,640 shares to 41 non-U.S. investors for $4,139,784, about $8.1 million in total. Proceeds are meant for developing oil and gas leases tied to the Providence acquisition; brokers get about $425,000 in cash and about 327,000 warrants at $0.72. This adds many new shares, diluting existing holders (inference from the share counts).

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14 July 2006business combination● NeutralMajor

Healthbridge filed a preliminary proxy for a special meeting (date still blank) asking shareholders to vote on three things: renaming the company Providence Resources, Inc.; ratifying the April 2006 agreements to acquire Providence Exploration, LLC; and raising authorized common shares from 50,000,000 to 100,000,000. The fee table covers 16,500,000 shares at $1.165 (May 30, 2006 price), about $19.2 million, with a $3,844.50 fee. This moves the pending Providence acquisition toward the shareholder vote it needs.

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14 Apr 2006material agreement● NeutralMajor

On April 10, 2006 Healthbridge agreed to buy Providence Exploration, LLC, a Dallas-based oil and gas explorer with leases in Comanche, Hamilton and Val Verde Counties, Texas. It would issue 4,286,330 shares for all Providence membership units and 12,213,670 shares for Providence's promissory notes, with closing expected June 9, 2006 subject to shareholder approval; Healthbridge also committed to lend Providence up to $5,000,000, of which $4,200,000 had been lent. Director Markus Mueller would receive 2,160,949 shares in the note exchange, and the press release mentions Providence acquiring 12,832 acres of Val Verde leases.

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6 Jan 2006capital raising announcement● NeutralMajor

Healthbridge reported raising money in November 2005 by selling shares at $0.30 each to non-U.S. investors, and by issuing senior convertible debentures due November 30, 2010, with 7% interest and convertible into shares at $0.35. Share sales shown in the visible text include 200,000 shares for $60,000, 340,000 for $102,000 (twice), 400,000 for $120,000, 1,700,000 for $510,000 and 1,300,000 for $390,000; debentures shown are $360,000 (twice), $400,000, $250,000, $100,000, $850,000 and $1,000,000. The filing is cut off, so further issuances may exist.

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7 Sept 2005financial restatement▼ BadMajor

On August 31, 2005 Healthbridge decided its December 31, 2004 and March 31, 2005 financial statements can no longer be relied on and must be restated. This followed SEC comments on its 2004 annual report and concerns how it amortized (wrote down over time) its patent assets.

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