Interim Results - 6 Months to 31 August 1999

Ovoca Resources PLC
29 December 1999


INTERIM STATEMENT 1999

Set out below is the unaudited consolidated profit and loss account of Ovoca
Resources PLC for the six month period ended 31st August 1999. The loss for
the six months reflects administration costs incurred during the period, and
no dividend is being recommended.

The Company has continued its exploration program in Ireland at accelerated
pace. An extensive schedule of surveying has recently been completed, largely
in the West Limerick area. Arising from this a significant drilling program is
planned to commence in January 2000. Negotiations are currently being
initiated in relation to accessing drilling locations and with the Department
of Marine & Natural Resources in relation to drilling conditions.


Unaudited Consolidated Profit and Loss Account
for the Six month period ended 31st August 1999

 

                                                                              
                                      6 months to         6 months to
                                      31/8/99              31/8/98
                                      IR£                    IR£

Turnover - Continuing Operations       -                        -

Operating Costs                        -                        -

                                      _______             _______

Operating Profit - Continuing
Operations                             -                        -

Administration Expenses               (75,594)             (51,863)

Investment Income                       7,940                   -
                                      _______              _______

LOSS ON ORDINARY ACTIVITIES

BEFORE TAXATION                       (67,654)             (51,863)

Taxation on Loss on Ordinary
Activities                             -                        -
                                      _______              _______

LOSS FOR THE FINANCIAL PERIOD        (67,654)              (51,863)
                                      ======               ======

Loss per Share

Undiluted                             (0.25p)               (0.21p)

Fully diluted                         (0.24p)               (0.20p)

                                      ======              ======

 

For further information contact James Morrissey, Fleishman Hillard Saunders,
[phone].

Copies of this report are available at the Companys offices at
Duke House, 2/5 Duke Lane, Dublin 2.