Issue of Equity

GB00B23JN426/GBP/PLUS-exn

                                       Oracle Coalfields plc

                                          Issue of Equity

12 June, 2008

The  Board of Oracle Coalfields plc ("Oracle" or "the Company") is pleased to announce that it has
raised  GBP453,750 through a placing of 5,500,000 shares with Orbis Equity Partners Ltd  ("Orbis")
at 8.25p.

Additionally, 5,500,000 warrants have been issued to the investors that took part in  the  placing
through Orbis and are exercisable at 14p in whole or in part at any time until 31 May 2010.

Chairman's Statement:

"I  am delighted with the response to the recent placing, which far exceeded the sum we set out to
raise,  and  is  testament to the progress the company has made to date on its  flagship  project,
Block  VI  Thar Coalfield, and the strategy that is being put in place to bring the  Thar  project
into development."

There are now 114,046,334 Ordinary Shares in issue and the Directors are interested in a total  of
34,580,000 Ordinary Shares which represent 30.32% of the issued share capital of the Company.

The Directors of the Issuer accept responsibility for this announcement.

ENDS

ENQUIRIES:

ORACLE COALFIELDS PLC
SHAHRUKH KHAN, CHAIRMAN
TELEPHONE: [phone]
EMAIL: [e-mail]

CORPORATE ADVISERS

ST HELEN'S CAPITAL PLC
BARRY HOCKEN, DIRECTOR
TELEPHONE: [phone]
EMAIL: [e-mail]

CONDUIT PR
JOS SIMSON
Telephone: [phone]

WEBSITE:

www.oraclecoalfields.com

Oracle Coalfields plc

About Oracle:

Oracle  Coalfields plc is a London-based resource exploration and development company with  an  80
per  cent  owned  subsidiary (Sindh Carbon Energy Limited) operating in  Pakistan.  The  Company's
shares are quoted on the PLUS markets (symbol: ORCP). The Company's flagship project is the  Block
VI  coal  project which is located on the Thar coalfield in the eastern Sindh province,  Pakistan.
Block VI is host to a JORC compliant resource of 1.4 billion tonnes and 371 million tonnes in  the
proven category.

The  Company also owns the Indus East project in Pakistan. A pre-feasibility study carried out  by
Dargo  Associates confirmed an inferred resource for the area (in line with the JORC Code) to  365
million  tonnes, of which the boreholes KHW-1 and KHW-2 give an indicated resource of c.24 million
tonnes.

Oracle Coalfields plc