MINING LEASE RESTORATION

RNS Number : 5392F

Oracle Coalfields PLC

23 February 2015

 



MINING LEASE RESTORATION

Released : 23 February 2015

RNS Number :

Oracle Coalfields PLC:

23 February 2015 

Oracle Coalfields PLC

("Oracle" or "the Company")

MINING LEASE RESTORATION

Oracle Coalfields PLC (AIM:ORCP), the coal explorer and developer of a lignite mineral property located in the south-eastern area of Sindh Province, Pakistan, today announces that it has received formal confirmation by letter dated 20 February 2015 from  Directorate, Coal Mines Development, Government of Sindh, Pakistan  that the Mining Lease  of its subsidiary Sindh Carbon Energy Limited in Block VI of the Thar coalfield has been restored.

Shahrukh Khan, CEO of Oracle, said:

"The restoration of the mining lease is most welcome. I am grateful to the existing and new shareholders who have supported us through this testing period.  We continue to work with the relevant stakeholders to progress the project and will continue to update the market as and when further developments occur."

Ends

For further information:

Oracle Coalfields PLC Shahrukh Khan	[phone]
Brandon Hill Capital Limited Oliver Stansfield	[phone]
Peterhouse Corporate Finance Charles Goodfellow	[phone]
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat, Jamie Barklem	[phone]
Blythe Weigh Communications                                                    Tim Blythe, Halimah Hussain	[phone]
Fortbridge Consulting                                                   Matt Beale, Bill Kemmery	[phone]

 

END

 

 

MSCUUVVRVBAUUAR