RNS Number:1636Q
Ennex International PLC
25 September 2003

                            ENNEX INTERNATIONAL PLC

                              Interim Report 2003


During the first six months of 2003, Ennex completed the second stage of its
transformation into an oil and gas exploration and production company.


The significant events of the period included:


        *      The disposal of our stake in Faroe Petroleum plc for $861,191 at
        the end of the period.


        *      The successful completion of a Greensand development well in our
        Royalty area in the Celtic Sea, to produce gas from the South West
        Kinsale Field, via a 10 inch diameter pipeline to the Kinsale Gas Field
        B platform production facilities.


        *      The successful connection of the Seven Heads Gas Field
        infrastructure to the Kinsale Gas Field facilities. Production from
        Seven Heads is expected to commence in November this year.


The combined effect of the increased production from the successful Greensand
well, the Seven Heads use of the Kinsale production facilities and the ongoing
utilisation of the storage facility in the southwest reservoir will we believe
considerably enhance the amount and extend the life of our Royalty income.
According to a press release dated 6th August 2003 from the Department of
Communication Marine and Natural Resources the Greensand well will give access
to additional reserves in the Kinsale Gas Field and increase production by some
30%.


The Royalty income for the period was $184,525 in comparison to $233,622 for the
same period last year. The decrease was due to the declining throughput and a
platform shutdown required to upgrade the facilities to take the planned
increased production referred to previously. However, the Greensand well
referred to above, commenced production in July this year, so Royalty income
should therefore improve in the second half of 2003. Operating and
administration costs for the period were $99,848.


In the first six months we have reviewed and examined a large number of oil and
gas opportunities, particularly in the Celtic Sea, the United Kingdom and
Africa. Discussions on a number of these are at an advanced stage and we expect
to be in a position to announce some developments and/or acquisitions in the
near future.


I am pleased to report that Mr. John Craven has agreed to become Managing
Director of the Company. John has more than 25 years experience in exploration,
production and business development with both large and small oil exploration
and production companies. He has been instrumental in identifying many prospects
which have become significant financial successes and was the founder of
Petroceltic plc, now an Ennex subsidiary. Your company is fortunate in securing
his services. I have assumed the role of Executive Chairman on a part time
basis. We are actively considering further executive and board positions.


In the light of the major transformation of the company's business and the
successful re-entry into the oil and gas sector, your board is recommending a
name change for the company that reflects this change. In recognition of the
main building block for our current activities we are proposing that the name be
changed to Petroceltic International plc, a resolution to effect this change
will be laid before the AGM shortly.


Your Board has been particularly dedicated and helpful over the period under
review and I would like to thank them for their efforts on your behalf. I look
forward to the future with confidence now that we are in a position to expand
and develop your company.


Brian Cusack

Chairman

24th September 2003




Financial Information (Unaudited)

                                                               Six months ended
                                                         June 30th 2003        June 30th 2002
                                                               US$000's              US$000's
Group profit and loss account
Turnover                                                            168                   210
Profit/(Loss) before taxation                                        69                 (254)
Profit/(Loss) attributable to shareholders                           69                 (254)
Earning/(Loss) per share - in cents                                0.02                 (0.1)


The accounting policies applied in the preparation of the interim results are
consistent with those used in the preparation of the statutory accounts for the
year ended 31st December 2002. A dividend is not proposed for this period.


These results were announced to AIM and posted on 24th September 2003 to all
shareholders on the register at 22nd September 2003. Copies of this interim
report will be available from the Company's registered office at 11 Mespil Road,
Dublin 4.




END


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