07/07/2009
GB00B23JN426/GBP/PLUS-exn
Oracle Coalfields PLC
Thar Project Update
Positive Initial Meetings with Power Plant Operators
Oracle Coalfields PLC (PLUS: ORCP) ("Oracle" or "the Company"), is pleased to update the market that during
a recent visit to Pakistan the Company met with two local power generating companies, each of which
expressed interest in Oracle's invitation to build 300MW mine-mouth power station fuelled by lignite coal
produced from the Company's planned 2.5 million tonnes per annum open mine on its Block VI licence in the
Thar coalfield, Sindh Province, south-east Pakistan.
Both companies are in power production, have access to funding and are capable of building and operating
the proposed power station.
Block VI contains a JORC-compliant measured resource of 1.4 billion tonnes, including a Proven Reserve of
371m tonnes. The proven reserve occurs in a single main seam, some 20m-28m thick, which lies beneath about
150m of overburden comprising mainly unconsolidated sands and sediments that will not require blasting.
Shahrukh Khan, Chairman, Oracle Coalfields PLC commented:
"We are very pleased with the positive response of these two power companies to our plans for the Thar
project. They already own power plants in Pakistan and view our plans as having a sound technical base.
In order to progress, however, they obviously require the comfort of a Bankable Feasibility Study (BFS)
with independent verification of the numbers. Work on the BFS is now in progress.
"During the visit to Pakistan, we also met with senior officials in the Government of Sindh Mines &
Minerals Development Department. It was very apparent from these meetings that the Government's support for
our Thar project continues to grow. It is giving active consideration to the building of a canal to provide
water to the project area, undertake the groundwork necessary to link the site to the country's railway
system and to upgrade the existing grid to 500 KV. This is very encouraging from our perspective."
July 7th 2009
The Directors of the issuer accept responsibility for this announcement.
ENQUIRIES:
Oracle Coalfields PLC
Shahrukh Khan, Chairman
Telephone: +44 (0) 1366500722
Email: s.khan@oraclecoalfields.com
St Helen's Capital plc
Duncan Vasey/Mark Anwyl
Telephone: 020 7628 5582
Lothbury Financial
Michael Padley, Ron Marshman
Telephone: 020 7011 9411
michael.padley@lothburyfinancial.com
ron.marshman@lothburyfinancial.com
website: www.oraclecoalfields.com
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).
Oracle's flagship project is the Block VI coal project located on the Thar coalfield in the eastern Sindh
province, Pakistan. Block VI hosts a JORC-compliant resource of 1.4 billion tonnes of which 371 million
tonnes are in the proven category.
The Company also owns the Indus East coal project in Pakistan where a pre-feasibility study carried out by
Dargo Associates has confirmed a JORC-compliant inferred resource of 365 million tonnes.
Oracle Coalfields plc
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