Ovoca Resources PLC
17 January 2001
Ovoca Resources Plc
Re: Proposed Joint Venture
Ovoca Resources Plc wish to announce that it has signed a 'Heads of Agreement'
document with Amcorp Ireland Limited in relation to a proposed joint venture
agreement. Under this proposed agreement Amcorp will have the right to earn a
51% interest in 15 licence areas contained in the Cahir Co Tipperary and North
Galway licence blocks for a proposed expenditure of US$500,000. A four year
earn in period is envisaged. The proposed arrangements are conditional on
execution of a mutually acceptable definitive agreement.
For further information contact:
James Morrissey, Fleishman-Hillard Saunders, (01) 6188444 or
Mr Frank Buckley, Ovoca Resources Plc, (027) 70822