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Enola Resources plc (ENR)

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Wednesday 16 November, 2005

Enola Resources plc

Interim Results

Enola Resources plc
16 November 2005

                              Enola Resources plc

         Maiden Interim Results for the period ended 30 September 2005


Non-Executive Chairman Statement

I am delighted to have this opportunity to present our maiden interim results.
Since our admission to AIM on 21st March 2005 we have looked at a number of
opportunities to acquire companies in the natural resources sector in Africa and
elsewhere, however none to date were of a suitable stage or had suitable
management teams.

We remain confident, given current high commodity prices, that a suitably
attractive company will be identified in the near future.

I would like to take this opportunity to thank all our shareholders for their
continued support.


Michael E. Hammond
Non-Executive Chairman
16 November 2005



Profit and Loss Account
                                                                                                           Period ended
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                              Note                                    £


Turnover                                                                                                              -

Expenses                                                                                                       (21,217)

Operating loss
                                                                                                               (21,217)

Interest Received                                                                                                 6,046


Loss on ordinary activities before taxation                                                                    (15,171)

Taxation                                                                                                              -


Loss on ordinary activities after taxation                                                                     (15,171)



Loss per share
Basic                                                                           3                                 0.11p




All amounts relate to continuing activities

All recognised gains and losses are included in the profit and loss account




Balance Sheet
                                                                                                                  As at
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                        Notes                                         £

Current assets
Debtors                                                                   4                                       2,669
Cash at bank & in hand                                                                                          743,871

                                                                                                                746,540

Creditors: amounts falling due within one year                            5                                     (5,049)

Net current assets                                                                                              741,491

Total assets less current liabilities                                                                           741,491


Net assets                                                                                                      741,491


Capital and Reserves
Called up share capital                                                   6                                     155,000
Share premium account                                                     7                                     601,662
Profit and loss account                                                   7                                    (15,171)

Shareholders' funds - equity                                              8                                     741,491





Cash Flow Statement
                                                                                                           Period ended
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                                  Notes                               £


Net cash outflow from operating activities                                          9                          (18,837)


Returns on investments and servicing of finance
Interest received                                                                                                 6,046

Financing
Issue of ordinary shares                                                                                        875,000
Share issue costs                                                                                             (118,338)
Cash inflow from financing                                                                                      756,662

Increase in cash                                                                                                743,871





Notes to the Interim Statements

     
1    Basis of preparation

The financial statements have been prepared in accordance with applicable
accounting standards.

2    Directors' remuneration

Non executive directors received total remuneration of £10,000 during the
period. There were no employees during the period.
     
3    Loss per share

Loss per ordinary share has been calculated using the weighted average number of
shares in issue during the relevant financial period.  The weighted average
number of ordinary shares in issue was 14,367,256 and the loss was £15,171.
                                                                                                           Period ended
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited

Weighted average number of equity shares                                                                     14,367,256
                                                                                                                      £

Loss for the period                                                                                              15,171

Basic loss per share                                                                                              0.11p

     
4    Debtors
                                                                                                                  As at
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                                                                      £

Other debtors                                                                                                     2,669

                                                                                                                  2,669
     
5    Creditors: amounts falling due in less than one year

                                                                                                                  As at
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                                                                      £

Taxation and social security                                                                                      5,049

                                                                                                                  5,049

     
6    Share capital
                                                                                                                  As at
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                                                                      £
Authorised
300,000,000 ordinary shares of 1p each                                                                        3,000,000
Alloted, called up and fully paid
15,500,000 ordinary shares of 1p each                                                                           155,000



The Company was incorporated on 17th February 2005 with an authorised share
capital of £3,000,000 divided into 300,000,000 ordinary shares of 1 pence each
of which 7,500,000 ordinary shares of 1 pence each were issued for cash.  On
11th March, 2005 the Company issued 155,000 Warrants to WH Ireland.  These
Warrants gave WH Ireland the right to subscribe for 155,000 Ordinary Shares at
10 pence per share at any time during the period of three years from 11th March
2005.

On the 21st March 2005, an additional 8,000,000 ordinary shares of 1 pence each
were issued for cash at 10 pence per share.

     
7    Reserves

                                                                                           Share premium     Profit and
                                                                                                 account   loss account
                                                                                                       £              £


At the beginning of the period                                                                         -              -
Shares issued                                                                                    720,000              -
Cost of share issue                                                                            (118,338)              -
Loss for the period                                                                                    -       (15,171)

At the end of the period                                                                         601,662       (15,171)


     
8    Reconciliation of movements in shareholders' funds
                                                                                                        Period ended 30
                                                                                                         September 2005
                                                                                                                      £


At the beginning of the period                                                                                        -
Issue of shares                                                                                                 155,000
Premium on shares allotted (including                                                                           601,662
share issue costs)
Loss for the period                                                                                            (15,171)
At the end of the period                                                                                        741,491

     
9    Reconciliation of operating loss to net cash flow from operating activities.

                                                                                                          Period  ended
                                                                                                           30 September
                                                                                                                   2005
                                                                                                              Unaudited
                                                                                                                      £

Operating loss                                                                                                 (21,217)
(Increase) / decrease in debtors                                                                                (2,669)
Increase / (decrease) in creditors                                                                                5,049

Net cash outflow from operating                                                                                  18,837
activities

     
10   Related party transactions

The Company made a payment of £25,000 to City Capital Corporation Limited which
owns a 48.39% stake in the Company in respect of placing commission for the AIM
admission.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                    

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