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ALPHA PROSPECTS PLC: Interim Results

ALPHA PROSPECTS PLC                               


                          (`Alpha' or the `Company')                           
                                Interim Results                                
                       Investment in Tasmania Concluded                        

Alpha Prospects Plc is an investment holding company listed on the ICAP
Securities & Derivatives Exchange Limited growth market, focused on the small
and micro-cap sectors. The Company's strategy is to make investments in
companies with fast growth and/or recovery prospects.

The Company is pleased to announce its unaudited financial results for the six
month period ended 28 February 2013. The results are in line with expectations:
the loss for the period was £70,853 (2012: loss of £18,960). The Company
currently holds five investments, the latest of which was acquired after the
end of the period. The five investments are Activity Energy Group plc,
Coleridge Resources Inc., Hill Street Investments Plc, Ram Active Media plc and
Tasmania Oil and Gas Limited.

Chairman's Statement

In the past year the Board has acquired a range of assets across a variety of
sectors and we are optimistic that in the current reporting period shareholders
will see some positive developments from these investments.

The value of assets held by Alpha show a small decline on the end year figure,
this was due to the sale of part of a holding to help cover operating costs.
However, since the period end this decline has reversed.

New Investment

In September 2012, the Company announced that, subject to certain conditions
being satisfied by 15 May 2013, Alpha would subscribe for a 20% interest, in
Tasmania Oil and Gas Limited (`TOG'), which the Directors believe is an
exciting oil and gas opportunity in Tasmania.

TOG is a joint venture company, established to fund exploration and development
of oil and gas in Tasmania, Australia, through the initial acquisition of
Empire Energy Corporation Inc's subsidiary, GSLM, which holds an onshore
licence EL14/2009. TOG's other main shareholders are, subject to completion,
TXO Plc (25%), Hill Street Investments Plc (10%) and Empire Energy (45%).

I am pleased to announce that Alpha has acquired a 20% interest in TOG for a
consideration of approximately £1 million. The consideration has been 
satisfied
by the issue to TOG of 33,333,333 ordinary shares in Alpha at a price of 3p per
share.

As part of the joint venture agreement Empire Energy, whose subsidiary holds
the EL 14/2009 licence, will receive shares in TOG in exchange for the
debenture over the licence EL 14/2009 held by its subsidiary Great South Land
Minerals ("GSLM") (currently in administration). It is planned that GSLM
becomes a wholly owned subsidiary of TOG.

Although the licence EL 14/2009 is under appeal by Mineral Resources Tasmania,
the State Ministry, we are confident, having taken legal advice, that the
appeal will be dismissed and that we have secured a very valuable interest.

The Competent Persons Report (`CPR') dated January 2013, which was commissioned
by TOG and undertaken by Senergy (GB) Limited, showed that the licence area
controlled by TOG has an Estimated Total Mean Recoverable Prospective (ETMRP)
Resource of the Bellevue and Thunderbolt structures totalling 2.7 Trillion
Cubic Feet (TCF) of gas or in terms of oil, 508 Million Barrels (0.5 Billion
Barrels) of Oil Equivalent.

TOG subsequently engaged Senergy (GB) to work on an Economic Evaluation of the
Bellevue and Thunderbolt ETMRP Resources, based upon the CPR results, to
calculate the Net Present Value and Monetary Value figures.

Outlook

We are continually looking to expand the portfolio and to this end we are
looking at various funding opportunities. The Board is in discussion with a
number of overseas parties that we hope will invest in Alpha.

Overall the period under review has been positive, a large amount of work has
been carried out by the investee companies and we are optimistic that this will
translate into an uplift in their value in the coming months.

Steven Freudmann
Chairman

Unaudited Financial Statements for the six months period ended 29 February 2013

INCOME STATEMENT FOR THE PERIOD ENDED 29 FEBRUARY 2013
                                        6 Months to   6 Months to      Year to
                                        29 Feb 2013   28 Feb 2012       31 Aug
                                                                          2012
                                        (Unaudited)   (Unaudited)    (Audited) 


                                              £             £            
£ 
                                                                          
Continuing operations                                                          
                                                                          
Revenue                                       2,500             -            - 
                                                                          
Cost of sales                                     -             -            - 


                                                                              
                                              2,500             -            -


                                                                          
Administrative expenses                    (27,535)      (18,266)    (164,947) 
                                                                          
Administrative expenses -                         -             -    (125,000)
exceptional item                                                               


                                                                              
                                           (25,035)      (18,266)    (289,947)


                                                                          
Loss on disposal of assets                 (45,818)         (694)            - 
                                                                          
Operating Loss                             (70,853)      (18,960)    (289,947) 
                                                                          
Finance income                                    -             -            - 
                                                                          
Finance expense                                   -             -            - 
                                                                          
Net finance expense                               -             -            - 
                                                                          
Loss before income tax                     (70,853)      (18,960)    (289,947) 
                                                                          
Income tax expense                                -             -            - 
                                                                          
Loss for the period from continuing        (70,853)      (18,960)    (289,947)
operations                                                                     
                                                                          
Earnings per share                                                             
                                                                          
Basic earnings per share -                  (0.03)p       (0.01)p      (0.18)p
continuing and total operations                                                
                                                                          
Diluted earnings per share -                (0.03)p       (0.01)p      (0.18)p
continuing and total operations                                                


                                                                              

STATEMENT COMPREHENSIVE INCOME FOR THE PERIOD ENDED 29 FEBRUARY 2013
                                        6 Months to   6 Months to      Year to 
                                        29 Feb 2013   28 Feb 2012       31 Aug
                                                                          2012
                                        (Unaudited)   (Unaudited)    (Audited)


                                              £             £            
£ 
                                                                          
Loss for the period                        (70,853)      (18,960)    (289,947) 
                                                                          
Other comprehensive income:                                                    
                                                                          
Changes in fair value of                          -             -    (215,747)
available-for-sale financial assets                                            
                                                                          
Other comprehensive income, net of         (70,853)             -    (215,747)
tax                                                                            
                                                                          
Total comprehensive income                 (70,853)      (18,960)    (505,694) 


                                                                              

STATEMENT OF FINANCIAL POSITION AS AT 29 FEBRUARY 2013
                                          6 Months to  6 Months to      Year to
                                          29 Feb 2013  28 Feb 2012  31 Aug 2012 
                                             (Unaudited)  (Unaudited)    (Audited) 


                                                   £            £            
£ 
                                                                           
Assets                                                                          
                                                                           
Non-current assets                                                              
                                                                           
Property, plant & equipment                         -            -            - 
                                                                           
Available-for-sale financial assets         1,597,039      384,603    1,648,857 


                                                                               
                                            1,597,039      308,603    1,648,857


                                                                           
Current assets                                                                  
                                                                           
Trade and other receivables                     5,340      142,863       12,783 
                                                                           
Cash and cash equivalents                       9,652       33,432        9,068 


                                                                               
                                               14,992      176,295       21,851


                                                                           
Total assets                                1,609,031      560,898    1,670,708 
                                                                           
Equity                                                                          
                                                                           
Capital and reserves attributable to                                           
equity holders of the Company                                                   
                                                                           
Ordinary shares                             1,038,911      673,800    1,038,911 
                                                                           
Share premium account                       2,134,397      974,509    2,134,397 


                                                                               
                                               50,491            -       50,491


                                                                           
Retained earnings                         (1,779,657)  (1,222,070)  (1,708,804) 
                                                                           
Total equity                                1,444,142      426,239    1,514,995 
                                                                           
Liabilities                                                                     
                                                                           
Current liabilities                                                             
                                                                           
Trade and other payables                      167,889      134,659      155,713 


                                                                               
                                              167,889      134,659      155,713


                                                                           
Total liabilities                             167,889      134,659      155,713 
                                                                           
Total equity and liabilities                1,612,031      560,898    1,670,708 
                                                                            
BASIS OF PREPARATION 
The financial statements of the company have been prepared in accordance with
International Financial Reporting Standards ("IFRS") as adopted by the European
Union, IFRIC interpretations and the Companies Act 2006 as applicable to
companies reporting under IFRS. These accounts have been prepared under the
historical cost convention, as modified by the revaluation of land and
buildings and certain financial instruments. 
The interim results do not constitute the statutory accounts within the meaning
of s435 of the Companies Act 2006. The financial information in this report has
not been audited or reviewed by the Company's auditor. 
The Directors do not recommend the payment of dividends. 
                               --ENDS--                                     
Enquiries: 
ALPHA PROSPECTS PLC
Christopher Foster
+44 20 7518 4300 
Peterhouse Corporate Finance Limited
Fungai Ndoro and Eran Zucker
+44 20 7469 0930 
END 
-0- Apr/24/2013 06:00 GMT
 
 
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