Results for the Year ended 31 December 2010

19th April 2011
                                                                                         GB00B23JN426/GBP/PLUS-exn

                                               Oracle Coalfields PLC

                                            ("Oracle" or the "Company")

                                    Results for the Year ended 31 December 2010

Oracle  Coalfields (PLUS: ORCP), the UK developer of an estimtaed 1.4 billion tonne coal resource  in  the  south-
eastern  desert  of Sindh Province, Pakistan, today announces results of the Company and the Group  for  the  year
ended 31 December 2010.

Period Highlights

  *     Placing  raised £2 million during the course of 2010.  This includes an investment of over £1  million  by
        Regency  Mines  PLC  (AIM:RGM),  a  mining explorer and developer with  interests  in  Western  Australia,
        Queensland  and  Papua  New  Guinea, which now holds approximately 10% of the enlarged  share  capital  of
        Oracle Coalfields.

  *     Work  continued throughout the year on the studies for the Bankable Feasibility Study (BFS) on  the  Block
        VI licence, including the Environmental & Social Impact Assessment (ESIA).

  *     Appointment  of  internationally  reputed  independent  consultants  to  oversee  drilling  programme  and
        completion of feasibility study to bankable standard.

  *      License extended by the Coal and Energy Development Department for an additional year.

Post Period Highlights

  *     Listing on the London Stock Exchange's Alternative Investment Market (AIM) on Wednesday 20th April 2011

  *    Successful Placing of £3 million.

Shahrukh  Khan, Chairman and CEO of Oracle Coalfields, commented: "It has been a significant year for us where  we
have continued to make good progress in the development of Block VI coal deposit in the Thar Coalfield of Southern
Pakistan.   As a PLUS listed company we managed to raise funds and attract supporters of the stock and our  vision
of  building  Pakistan's first coal producing mine. To this end, we have appointed internationally recognised  and
respected consultants to work towards the Bankable Feasibility Study.

"In addition, and post results we have announced our intention to list on the Alternative Investment Market.  This
has  been  one  of  our goals and we are delighted at the support we received, culminating in  the  company  being
oversubscribed and raising £3 million.  We look forward to the forthcoming year with optimism."

For further information contact:

Oracle Coalfields PLC
Shahrukh Khan, Chairman and CEO
Telephone: [phone]

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

Blythe Weigh Communications
Ana Ribeiro or Matthew Neal
Telephone: [phone]

The Directors present their report with the financial statements of the Company and the Group for the year ended 31
December 2010.

Review

Over the past year, Oracle Coalfields continued to make good progress towards meeting its objective of delivering a
cost-effective coal mine on the Block VI coal deposit in the Thar Coalfield of Southern Pakistan.

The  Company's progress continues to attract public attention because of the pressing need to increase  local  fuel
production  and address the deficit in power generation. This is particularly important for Karachi, an  industrial
hub  of  more  than  15 million people located in the Sindh Province, popular discontent and industrial  disruption
resulting from the power deficit remains a key area of concern for the Pakistan authorities.

Block VI, Thar Coalfield, Sindh Province

Oracle  Coalfields'  80%  owned  Pakistan subsidiary, Sindh Carbon Energy Limited,  was  granted  the  66.1  square
kilometre  Block  VI licence of the Thar Coalfield by the Mines and Mineral Development Department,  Government  of
Sindh,  in  November 2007 for an initial period of three years. During 2010 the licence was extended for a  further
year  by  the  Coal  & Energy Development Department (formerly the Mines & Mineral Development Department).  It  is
planned to convert this into a Mining Lease during 2011.

Block VI is located in the Sindh desert:

-       Situated 380 km east from Karachi, Sindh Province
-       Block VI is some 32 km from the small town of Islamkot with close proximity to roads and power networks
-       In  2006  China NE Geological Survey Bureau (CNGB) drilled 35 boreholes, a total of 9,852 metres, of  which
        5,986 metres are cored, validated by independent consultants to take it to a JORC resource standard
-       All boreholes have been geophysically logged - log suite: natural gamma, density, resistivity, and calliper
-       Good infrastructure including roads and an electricity grid.

As  per the pre-feasibility study, the coal at Block VI has an average calorific value of 3,537 kcal/kg, a moisture
content  of 40%, which can be reduced to 14% by drying, a sulphur level of 1.2%, and an ash content of 7.5%,  which
is  low when compared with typical lignite coals.  Coal tests were carried out by TES Bretby Ltd in the UK, and the
Fuel  Research  Centre, part of Pakistan Council of Scientific and Industrial Research (PCSIR),  Karachi  and  rock
samples  were tested by Strata Surveys Ltd of the UK.  The coal quality is suitable for power plants and  industry,
particularly in the cement sector.

The  work  programme  for  developing the 1.4bn tonnes Block VI coal deposit is  proceeding,  with  the  target  of
completing  the  Definitive  Feasibility  Study  and the Bankable Feasibility  Study  in  2011.  Wardell  Armstrong
International  (WAI)  was  appointed to prepare the Environmental and Social Impact Statement  which  is  now  well
advanced.   In addition the Company appointed SRK Consulting (UK) Ltd. (SRK) to carry out an independent review  of
the  technical work on the feasibility studies carried out by our main technical consultants, Dargo Associates Ltd.
(Dargo).  In  addition  SRK  will  prepare  a definitive feasibility study  to  bankable  standard.  Aquaterra,  an
international water and environmental company is working with SRK on the hydrogeological assessment of the project.

The  pre-feasibility  study prepared by Dargo in 2008 confirmed that the proposed open pit  mining  operation  will
require the dewatering of the two aquifers lying above the main coal seam in Block VI.

Prior to the start of the Definitive Feasibility Study the Company completed a drilling programme in 2008 to verify
previous  work  done on Block VI and also enable the Company to take the project to the internationally  recognised
JORC standard, all of which was overseen by Dargo. Following is the summary resource table for Block VI:

Lignite coal resources/reserves for Block VI (JORC)
Note: Mt = Million tonnes

                                                               Overburden      Lignite coal       Lignite coal
                                                                            measured resources    proved reserves

                                                                   Mm3                Mt               Mt
Block VI total area                                              10,200             1,423              -
Total Mine area                                                   3,673               653              -
Phase I Open pit area                                               885                 -            128
Phase II Open pit area                                            1,685                 -            243

Source: Dargo Associates Limited

During  2009  Oracle  Coalfields entered into Memoranda of Understanding with the Karachi Electric  Supply  Company
(KESC) and Lucky Cement Limited.   Supplies to the cement industry, especially to Lucky Cement Limited, of coal for
use  as  industrial fuel will facilitate early production. Coal production could be expanded to fuel  one  or  more
power plants from the time that they are commissioned. This will also diversify the income sources for the Company.
Subject to the satisfactory completion of the feasibility studies, raising the necessary capital and taking a Final
Investment Decision, production levels for the coal mine are currently projected at 1.0 million tonnes from 2013 to
a target level of 4.0 million tonnes over a three year period.

The mine remains based on an open pit design and the most cost-effective way to operate the mine initially has been
projected as a truck and shovel operation.
The  Company was able to raise additional funds of over £2 million on the London market to fund the on-going  costs
of  the feasibility studies during the year and at the close of the year had a balance of over £1.5 million cash in
hand.

Karachi Electric Supply Company (KESC)

Oracle Coalfields signed a Memorandum of Understanding in December 2009 under which KESC would develop a mine-mouth
power station which would be owned and operated by a separate power generating company. The intention would be  for
KESC  to  take  a  Final  Investment Decision on the power plant at the same time as  the  Company  takes  a  Final
Investment Decision on the mine development.

KESC is a major local power utility in the Sindh Province and third largest power utility in Pakistan.

-       A public listed power company

-       Seeking to increase installed capacity to address demand growth of 7-8% pa

Lucky Cement Limited

In  addition, Oracle Coalfields is looking for additional income with the intention to generate early cash flow for
the  Company and shorten the lead time to coal production.  The Company therefore explored the opportunity to enter
potential agreements with local cement companies.  Pakistan's cement sector is large and is a major user  of  coal,
mainly  imported, to support its cement works.   A Memorandum of Understanding with Lucky Cement  was  executed  in
December 2009.

Entering  relationships  with Lucky Cement and KESC is an essential step to our objective  of  becoming  a  leading
supplier  of  coal  in Pakistan.  Oracle Coalfields is also able to enter relationships with additional  power  and
cement companies as the Company would be able to increase coal supply from its Block VI mine to meet demand.

Drilling Programme

The  programme  of  field  work  as part of the Bankable Feasibility Study (BFS) on Block  VI  Thar  Coalfield  has
progressed well.

A  programme of 27 geological boreholes and 8 water boreholes have been drilled to further identify the  nature  of
the overburden, the thickness of the main lignite seam and dewatering requirements respectively for the purpose  of
Mine  Design,  part of the feasibility study. During this period the Company appointed local drilling  contractors,
Deep Rock Drilling (Pvt) Limited and for hydrogeology the local dewatering contractors, Geoscience Associates.  The
drilling  programme is overseen by Dargo in consultation with SRK and the hydrogeology programme is being  overseen
by Aquaterra.

Since  the  start of the field work programme, visits have been made by the team of SRK, Dargo and Aquaterra.   The
first  was  a preliminary visit held with project geologists appointed by Oracle, Deep Rock Drilling (Pvt)  Limited
and  Geoscience  Associates.  The purpose of the first visit was to obtain an understanding of the  logistical  and
general site conditions and project parameters, to discuss the planned drilling programme and sampling requirements
for  the  open  pit  geotechnical  study  and to discuss the integration of the  geotechnical  and  hydrogeological
disciplines. On site, SRK inspected the location of all the Phase 1 geotechnical holes and the preferred  site  for
the dewatering test boreholes was also identified by Aquaterra.

Geotechnical and Sub-crop drilling

In  the second visit, the drilling programme commenced and all geological boreholes have been completed as well  as
lithologically  and  geophysically logged. Four fully cored boreholes for geotechnical testing were  completed  and
sampled as part of the 27 geological boreholes programme.
All  past and current borehole locations and elevations are being surveyed and samples of the lignite obtained from
the  boreholes have been sent for analysis to Bahria University in Karachi.  The coal quality tests are under  ASTM
standard.

Phase 1 - Mine area

Within the Block VI covering an area of 66.1 square kilometres, the most prospective mining area based on thickness
of  coal  seam and favourable stripping ratio for the opencast mining operation is to the south central  and  south
west  part of the block covering an area of approximately 20 square kilometres.  This mining area is in two  phases
of  development,  Phase 1 and Phase 2.  The focus at the moment is on Phase 1 covering an area of approximately  10
square  kilometres  where  all  the work programme is underway, i.e. the 27 geological  boreholes  (4  geotechnical
boreholes  and 23 sub-crop drilling) and separately 8 water boreholes (4 test wells and 4 observation wells).   The
mining  in  Phase  2  will commence after Phase 1 mining has been fully exhausted.  This will be  detailed  in  the
feasibility study.

Hydrogeology drilling

Water  is an important element of the project, as dewatering will be required to enable mining to proceed and water
supply  will  be  required for both the power station and mine.  Hydrogeological studies  have  been  commenced  by
Aquaterra for both the feasibility study and ESIA.

Meetings  were  held  with  KESC and Non-Governmental Organisations (NGOs) representing local  communities  in  the
project area to discuss the scope of work, agree the approach and volumes of water required for the power plant.

The  first  phase  of work involves the drilling of boreholes to improve understanding of the hydrogeology  of  the
site.   Four  test wells and four observation wells have been drilled successfully in total.  GeoScience Associates
had been commissioned to drill the boreholes under the supervision of Aquaterra.

A study on the local village water supplies is being undertaken simultaneously.

Once  testing  is  complete analysis will be undertaken to confirm the rate of dewatering and the  availability  of
water for the power plant and mine supplies.

Environmental and Social Impact Assessment (ESIA)

During  the period a visit was made by the team from Wardell Armstrong International for the purpose of  the  ESIA.
Wardell  Armstrong is now working on the baseline study which is the second phase of the ESIA. All the  aspects  in
the  baseline  study  identified and briefly dealt with in the scoping report is being comprehensively  elaborated,
requiring  a  number  of visits by personnel of Wardell Armstrong to have interaction with people,  including  Non-
Governmental Organisations operating in Tharparkar, relevant to their studies and to carry out further  assessments
of the environment and the location.

Khorewah, Indus East, Sindh Province

In  early  February 2007 the Company's subsidiary, Sindh Carbon Energy Limited, was granted an exploration  licence
over  100  square kilometres of the KhoreWah coalfield in the Indus East region of the Sindh Province of  Pakistan.
The  depth  of  the  coal  seam is such that underground mining would be necessary in order  to  make  the  project
economic.

The  granting of the more advanced and geologically attractive Block VI project in the Thar Coalfield has seen  the
development of the KhoreWah licence deferred in order to utilise available funds on the Thar Coalfield.
Other initiatives

Oracle  Coalfields continue to monitor other possible industrial uses of Thar coal, in addition to power generation
and in the domestic cement industry.

The Pakistan Power Market

If  the Gross Domestic Product (GDP) of the country grows as forecast by an average 6-8% per annum over the next 10
years,  according to government sources, the country would require approximately 50,000 MW in the  next  10  years.
There  is  certainly a major shortfall in electricity supply.  Coal has an important role to play in the  country's
energy  mix  in  the coming years and it is forecast that coal would represent about 17% of all feedstock  by  2025
(currently it is less than 1%).

Principal risks and uncertainties facing the Group

As the feasibility studies for the mine are now well advanced, the principal risks and uncertainties of the Company
include those summarised below:

-       the ability to raise sufficient funds to continue to develop Block VI
-       the  conclusion  of  production off-take agreements at requisite commercial rates to  justify  the  project
        investment
-       the prompt sourcing of specialist mining equipment to ensure earliest project realisation
-       the  stabilisation of the on-going political situation so as to ensure the vital interests and  support  of
        major financial lenders for the project
-       the maintenance of current government legislation and regulations that have so far favoured the development
        of the project as a flagship foreign investment necessary to strengthen the country's economy
-       infrastructure  development plans for the Thar region being funded and completed by  the  relevant  federal
        and/or provincial government authorities
-       the mitigation of environmental and social concerns

Financials

The  financial  results for the twelve months to 31 December 2010 show a loss for Oracle Coalfields  Plc  Group  of
Companies after taxation of £221,589 (2009: £235,230) (Company: £217,614). At the period end, the Group had cash at
bank  and  in  hand  of  £1,506,475 (Company: £1,457,680) and total assets less current liabilities  of  £2,345,171
(Company:  £2,347,065).  The basic loss per share was 0.15p (2009: loss 0.20p). The loss  is  attributable  to  the
development of the Company's coal licences in Pakistan and administrative expenses.

Post-Period Development

The Company has been able to complete the drilling programme on schedule as part of the feasibility study. A number
of studies are underway for completion of the definitive feasibility to bankable standard.

The  Company  is now considering listing on Alternative Investment Market (AIM) of the London Stock Exchange.   The
purpose  of  the  Company  listing on AIM is to raise its profile and reach out to a wider  institutional  investor
audience in preparation for raising the larger investment required to bring the Block VI coal mine to development.

Outlook

The Board is pleased that the Block VI, Thar coal project Definitive Feasibility Study and the Bankable Feasibility
Study  are  progressing  well.   The  objective  is to reduce project risks  through  these  international  quality
feasibility studies. For this reason, independent international consultants have been appointed with experience  in
developing coal mine operations of this nature.

The continued rises in world energy prices have strengthened the economic rationale for this project as the cost of
alternative imported supplies of oil and coal increase.

Although the security situation in Pakistan has remained fragile due to political and economic uncertainties, it is
important  to  note that the Company's project area in Tharparkar has remained peaceful throughout. Geographically,
the  project  area is distant from the north of the country where most of the unrest is concentrated.  Furthermore,
the  national  economy is being strengthened by substantial foreign aid in support of the Government's  efforts  to
stabilise the political situation and boost investor confidence.

Finally, the Board is grateful for the patience shareholders have shown in supporting the Company's management team
during the feasibility phase.  The Company also extends its thanks to the Mines and Minerals Development Department
and  Coal  &  Energy  Development Department, Government of Sindh, the Thar Coal Energy Board and  the  Sindh  Coal
Authority for their continued assistance.

The Company will continue to update the market on its progress.

  DIVIDENDS

  No dividends will be distributed for the year ended 31 December 2010.

ON BEHALF OF THE BOARD:

S Khan - Director

Date:  4 April 2011
ORACLE COALFIELDS PLC GROUP OF COMPANIES (REGISTERED NUMBER: 05867160)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                         2010                         2009
                                                                            £                            £

CONTINUING OPERATIONS
Revenue                                                                   -                              -

Other operating income                                                    -                             111
Administrative expenses                                               (222,674)                   (236,157)

OPERATING LOSS                                                        (222,674)                   (236,046)

Finance income                                                            1,085                         816

LOSS BEFORE INCOME TAX                                               (221,589)                    (235,230)

Income tax                                                                    -                           -

LOSS FOR THE YEAR                                                     (221,589)                   (235,230)

Loss attributable to:
Owners of the parent                                                  (221,589)                   (235,230)

Earnings per share expressed
in pence per share:
Basic                                                                    -0.15                        -0.20
Diluted                                                                  -0.13                        -0.16
ORACLE COALFIELDS PLC GROUP OF COMPANIES (REGISTERED NUMBER: 05867160)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                          2010                      2009
                                                                             £                         £

LOSS FOR THE YEAR                                                     (221,589)                 (235,230)

OTHER COMPREHENSIVE INCOME
Exchange difference on consolidation                                      1,724                  (16,143)
Income tax relating to other comprehensive income                             -                        -

OTHER COMPREHENSIVE INCOME FOR THE YEAR,
NET OF INCOME TAX                                                         1,724                  (16,143)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR                                (219,865)                (251,373)

Total comprehensive income attributable to:
Owners of the parent                                                   (219,865)                (251,373)
Non-controlling interests                                                     -                        -
ORACLE COALFIELDS PLC GROUP OF COMPANIES (REGISTERED NUMBER: 05867160)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2010

                                                                            2010                    2009
                                                                               £                       £
ASSETS
NON-CURRENT ASSETS
Intangible assets                                                         855,830                492,131
Property, plant and equipment                                               2,814                  3,072
Investments                                                                     -                      -
Loans and other financial assets                                           63,645                 63,186

                                                                          922,289                558,389

CURRENT ASSETS
Trade and other receivables                                                36,093                 12,322
Cash and cash equivalents                                               1,506,475                  5,859

                                                                        1,542,568                 18,181

TOTAL ASSETS                                                            2,464,857                576,570

EQUITY
SHAREHOLDERS' EQUITY
Called up share capital                                                   184,211                122,360
Share premium                                                           3,284,291              1,309,043
Translation reserve                                                        (4,563)                (6,287)
Retained earnings                                                      (1,134,797)              (913,208)

                                                                        2,329,142                511,908

Non-controlling interests                                                  16,029                 16,029

TOTAL EQUITY                                                            2,345,171                527,937

LIABILITIES
CURRENT LIABILITIES
Trade and other payables                                                  119,686                 48,633

TOTAL LIABILITIES                                                         119,686                 48,633

TOTAL EQUITY AND LIABILITIES                                            2,464,857                576,570

The  financial statements were approved and authorised for issue by the Board of Directors  on  4  April
2011 and were signed on its behalf by:

S Khan - Director

ORACLE COALFIELDS PLC GROUP OF COMPANIES (REGISTERED NUMBER: 05867160)

COMPANY STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2010

                                                                                2010                 2009
                                                                                  £                     £
ASSETS
NON-CURRENT ASSETS
Intangible assets                                                           370,184                241,399
Property, plant and equipment                                                     -                      -
Investments                                                                  64,115                 64,115
Loans and other financial assets                                            479,365                244,365

                                                                            913,664                549,879

CURRENT ASSETS
Trade and other receivables                                                  48,826                 21,652
Cash and cash equivalents                                                 1,457,680                  4,066

                                                                           1,506,506                25,718

TOTAL ASSETS                                                               2,420,170               575,597

EQUITY
SHAREHOLDERS' EQUITY
Called up share capital                                                       184,211               122,360
Share premium                                                               3,284,291             1,309,043
Retained earnings                                                          (1,121,437)             (903,823)

TOTAL EQUITY                                                                2,347,065               527,580

LIABILITIES
CURRENT LIABILITIES
Trade and other payables                                                       73,105                48,017

TOTAL LIABILITIES                                                              73,105                48,017

TOTAL EQUITY AND LIABILITIES                                                2,420,170               575,597

The  financial statements were approved and authorised for issue by the Board of Directors on 4 April 2011 and were
signed on its behalf by:

S Khan - Director

The above is an extract from the full financial statements. A full version of the Report and Accounts are available
on the PLUS website.

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

For further information contact:

Oracle Coalfields PLC
Shahrukh Khan, Chairman and CEO
Telephone: [phone]

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

Blythe Weigh Communications
Ana Ribeiro or Matthew Neal
Telephone: [phone]

Oracle Coalfields plc