Interim Results for the six months ended 30 Jun...

30/09/2010
                                                                                  GB00B23JN426/GBP/PLUS-exn

                                           ORACLE COALFIELDS PLC
                                        ("Oracle" or the "Company")

                           Interim Results for the six months ended 30 June 2010

PERIOD HIGHLIGHTS

*       Placing raised £1,041,690 (gross)

*       Work programme continues to make progress on the Bankable Feasibility Study (BFS), including the
    Environmental & Social Impact Assessment (ESIA) on the Block VI licence

CHAIRMAN'S STATEMENT

I  am  pleased  to  report  that the Company continues to make progress towards meeting  its  objective  of
delivering a cost-effective coal mine, combined with power generation, on the Block VI coal deposit in  the
Thar Coalfield of Southern Pakistan.

During  the  period  the Company raised just over £1 million (gross) which will provide additional  working
capital  for  the  business in respect of the Bankable Feasibility Study (BFS) on our flagship  project  in
Block  VI.  The Placing was coordinated by Libertas Capital Corporate Finance Limited, a private investment
banking partnership with head office in London.

The  net  proceeds of the funds raised will allow the company to complete the work program  on  site  which
includes hydrogeology and geotechnical studies, sub-crop drilling and appointment of additional consultants
of international repute to oversee the completion of the BFS.

The  project continues to attract the official support of the Pakistan government with assistance  provided
by  the  Coal & Energy Development Department (formerly Mines & Mineral Development Department), Government
of  Sindh  and  Thar  Coal  Energy  Board in the Sindh Province. The  Sindh  government  is  giving  active
consideration to a canal link to provide additional water to the Thar Coalfield project area as well as  to
railway  links,  upgrading  of electricity transmission lines, roads and airport.   As  in  the  past,  all
infrastructure investment is continuing to be undertaken by government funding.

The  relationship  with Karachi Electric Supply Company (KESC) and Lucky Cement Limited remains  sound  and
both  local  companies  are  eager  to see the completion of the coal feasibility  study  to  enter  joint-
development  agreement and coal supply agreements respectively. There has been good  level  of  information
sharing between Oracle and KESC for the purpose of the BFS.

During the half-year, Oracle has investigated other possible industrial uses for Thar coal, in addition  to
power  generation  and  in  the domestic cement industry.  With new technologies  being  developed  outside
Pakistan  to  convert lignite coal into more valuable end products, the Company intends to monitor  closely
these initiatives for possible future applications in Pakistan.

International Coal Market in first half of year

Since  the  beginning of 2010, thermal coal prices have traded averaging US$75/tonne, a price  level  which
compares  to 2009 when an average price of US$60/tonne was more typical. According to various international
reports, coal prices are expected to remain on course for further increases due to demand and in some cases
have reached US$100/tonne.  Overall, global coal consumption remains high and is an important commodity  in
the  world's energy mix for power generation.  Coal's share of world energy consumption rose to 29.4%  with
China remaining a major consumer of coal.

As  stated  in  our  previous commentaries, the Company will not be directly affected  by  changes  in  the
international spot market price for coal as our production will be confined to local market consumption.

Financials

The  financial results of Oracle for the first six months interim period ending 30th June 2010 show a  loss
after  taxation of £79,549 (2009: £122,235). At the period end, the Group had cash at bank and in  hand  of
£977,913  and  total assets less current liabilities of £1,387,206. The basic loss per  share  was  0.0648p
(2009:  loss  0.1031p).  The  loss is attributable to the development of the  Company's  coal  licences  in
Pakistan and administrative expenses.

Outlook

The Board is pleased that the Block VI, Thar coal project Bankable Feasibility Study (BFS) is underway with
various  site studies and drilling already actively in progress.  The objective is to de-risk  the  project
guided by international principles and standards.  The Company has appointed international consultants with
experience in developing coal mine operations of this nature to ensure that the coal feasibility  study  is
of  highest  quality  and  to  prepare the Company for the larger fund raise to  bring  the  coal  mine  to
production.

The  half-year has seen a better environment for fund raising in the resources sector compared to 2009  and
signs are that the market appetite is returning.  Overall, the resources sector could see a revival in  the
development  of  projects  globally.  This, however, depends on the demand for commodities  driven  by  the
emerging economies, such as China and India, and on general market sentiment driven by the economies of the
industrialised nations, particularly USA.

In  Pakistan,  the  political environment has been mixed, creating uncertainty in terms  of  the  country's
direction  which is hindering economic growth.  Added to this, the shortage of electricity is  increasingly
hampering  industrial  production  and exports.  The security situation in  the  country  remains  fragile,
particularly in the northern part of Pakistan, however, following the army offensive in 2009, parts of  the
northern  areas  have become more stable once under army control. In spite of the current flooding  tragedy
affecting  wide areas of the country the Company has been unaffected in maintaining its work programme  and
has been continuing to steadfastly progress on the BFS.

Finally,  the  Board is grateful for the patience our shareholders have shown in supporting our  management
team  in  the  realisation of our objectives during this period. We also extend our thanks to  the  Coal  &
Energy  Development  Department,  Government of Sindh, and the Sindh Coal Authority  for  their  continuing
valuable assistance.

We will continue to update the market on our progress.

Shahrukh Khan
Chairman

The Directors of the issuer are responsible for the contents of this announcement.

ENQUIRIES:

Oracle Coalfields PLC
Shahrukh Khan, Chairman
Telephone: [phone]
Email: [e-mail]

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: [phone]

Blythe Weigh Communications
Ana Ribeiro / Tim Blythe
Telephone: [phone]

WEBSITE:  www.oraclecoalfields.com

ORACLE COALFIEDS PLC GROUP OF COMPANIES

UNAUDITED RESULTS FOR THE PERIOD
FROM 1 JANUARY 2010 TO 30 JUNE 2010

INCOME STATEMENT
                                                             6 MONTHS TO                      6 MONTHS TO
                                                              30/06/2010                       30/06/2009
                                                       £                               £
CONTINUING OPERATIONS                                                                                    
Revenue                                                -                               -
Administrative expenses                                (79,846)                        (122,759)
                                                       _________                       _________

OPERATING LOSS                                         (79,846)                        (122,759)

Finance costs                                          (11)                            -
Finance income                                         308                             524
                                                       _________                       _________

LOSS BEFORE TAX                                        (79,549)                        (122,235)

Taxation                                               -                               -
                                                       _________                       _________

LOSS FOR THE PERIOD                                    (79,549)                        (122,235)
                                                       _________                       _________

Basic loss per share                                           (0.0648p)                        (0.1031p)
Diluted loss per share                                         (0.0536p)                        (0.0844p)

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2010
                                                           AT 30/06/2010                 AT 30/06/2009
                                                       £                               £
ASSETS                                                                                                   
NON-CURRENT ASSETS                                                                     
Intangible assets                                      506,967                         473,442
Property, plant and equipment                          2,903                           3,455
Loans and other financial instruments                  64,292                          63,189
                                                       _________                       _________

                                                       574,162                         540,086
                                                       _________                       _________

CURRENT ASSETS                                                                                  
Trade and other receivables                            12,508                          29,640
Cash and cash equivalents                              977,913                         108,337
                                                       _________                       _________

                                                       990,421                         137,977
                                                       _________                       _________

TOTAL ASSETS                                           1,564,583                       678,063
                                                       _________                       _________

EQUITY                                                                                                   
SHAREHOLDERS' EQUITY                                                                   
Called up share capital                                162,916                         122,360
Share premium                                          2,194,232                       1,309,043
Translation reserve                                    13,073                          -
Retained earnings                                      (999,044)                       (800,293)
                                                       _________                       _________

                                                       1,371,177                       631,110

Non-controlling interests                              16,029                          16,029
                                                       _________                       _________

TOTAL EQUITY                                           1,387,206                       647,139
                                                       _________                       _________

LIABILITIES
CURRENT LIABILITIES                                                                    
Trade and other payables                               108,977                         30,924
Financial liabilities - borrowings                                                     
  Non-interest bearing loans & borrowings              68,400                          -
                                                       _________                       _________

TOTAL LIABILITES                                       177,377                         30,924
                                                       _________                       _________

TOTAL EQUITY AND LIABILITIES                           1,564,583                       678,063
                                                       _________                       _________

Notes

1.       The  financial  information for the period ended 30 June 2010 has not been audited  and  does  not
    constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006.  It has however
    been subject to a review by the company's auditors.

2.      Basic loss per share has been calculated using the weighted average number of shares of 122,807,804
    (2009 - 118,593,406).   Diluted loss per share has been calculated using the weighted average number of
    shares of 148,311,396 (2009 - 144,835,460).

Oracle Coalfields plc