OVG Ovoca Gold

RNS No 5020x
OVOCA RESOURCES PLC
9th January 1998

                     OVOCA RESOURCES PLC
                    INTERIM STATEMENT 1997

SET OUT BELOW IS THE UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT OF
OVOCA RESOURCES PLC FOR THE SIX MONTH PERIOD ENDED 31ST AUGUST 1997.
THE LOSS FOR THE SIX MONTHS REFLECTS ADMINISTRATION COSTS INCURRED 
DURING THE PERIOD, AND NO DIVIDEND IS BEING RECOMMENDED.

FOLLOWING THE SUCCESSFUL PLACING LAST OCTOBER THE COMPANY HAS 
RECOMMENCED IT'S EXPLORATION PROGRAM IN IRELAND.  IT IS CURRENTLY 
EVALUATING SEVERAL LICENCE BLOCKS AND WILL BE DRILLING ON SELECTED
LOCATIONS IN THE COMING MONTHS.  THE COMPANY HAS ALSO MADE APPLICATION
FOR FURTHER NEW LICENCES AND EXPECTS TO EXPAND IT'S ACTIVITIES 
CONSIDERABLY DURING THE COMING YEAR.


            UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT
            FOR THE SIX MONTH PERIOD ENDED 31ST AUGUST 1997


                                            6 MONTHS       6 MONTHS
                                               ENDED          ENDED
                                              31/8/97        31/8/96
                                                 IR#            IR#

TURNOVER - CONTINUING OPERATIONS                   -              -

OPERATING COSTS                                    -              -

                                              ________       _______
OPERATING PROFIT - CONTINUING OPERATIONS           -              -

ADMINISTRATION EXPENSES                         (33,125)     (19,848)

INVESTMENT INCOME (NET)                            -            1,097
                                              ___________     ________
LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION                                 (33,125)       (18,751)

TAXATION ON LOSS ON ORDINARY ACTIVITIES            -              -
                                              _________        _________

LOSS FOR THE FINANCIAL PERIOD                    (33,125)       (18,751)
                                              ------------      ---------

LOSS PER SHARE                                    (0.16P)        (0.09P)
                                               ------------      --------



COPIES OF THIS REPORT WILL BE SENT TO THE SHAREHOLDERS AND ARE 
AVAILABLE TO THE PUBLIC AT THE COMPANY'S OFFICES AT 4 INNS COURT,
WINETAVERN STREET, DUBLIN 8.

END


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