Oracle Coalfields plc - (PLUS ticker: ORCP)
website: www.oraclecoalfields.com


2009
Oracle Coalfields is an emerging coal developer in Pakistan with an 80% interest in a JORC compliant measured resource of 1.4 billion tonnes (371 million tonnes proven reserves) located in Block V1 of the Thar Desert project in the Sindh province, 380 km east of Karachi and further distant from the insecurity of the north western frontier region. It benefits from past and ongoing major infrastructure investment by the Pakistan Government, eager to open up the Thar Desert region with its estimated lignite coal resource of 175 billion tonnes. Work on a bankable feasibility study is already underway for completion early next year and the mine development project will be linked to the construction of a mine-mouth 300MWe power plant. Initial mine production is planned for late 2010, and while the mine design will allow for an annual production of 2.5 million tonnes, this will only be achieved by 2014, by when the completed power plant will be in operation. Oracle is in preliminary discussions with potential power plant developers and operators. The power plant’s annual intake from the mine will be 1.75 million tonnes, any supply balance being readily sold to local industry unless and until further capacity is added to the power plant. Pakistan suffers from critical shortages of electricity supply resulting in a proliferation of disruptive power cuts and stunting the growth of the vibrant economy. With such a major indigenous yet unexploited coal resource to hand, the Pakistan Government sees Oracle as a key contributor to the future development of the country’s economy. Oracle is currently assessing the benefits of a near-term admission to the AIM market.

2008
Oracle Coalfields is an emerging coal developer in Pakistan with an 80% interest in a 1.4 billion tonnes resource project located in Block V1 of the Thar Desert in the Sindh province, 380 km east of Karachi and further away from the insecurity of the north western frontier region. It benefits from past major infrastructure investment by the Pakistan Government. The mine development project will be integrated with the construction of a mine-mouth 300MWe power plant. Initial production is planned for early 2010, and while the mine design will allow for an annual production of 2.5 million tonnes, this will only be achieved by 2014, when the completed power plant will be in operation. The power plant’s annual intake from the mine will be 1.75 million tonnes, any balance being sold to local industry unless further capacity is added to the power plant. Pakistan suffers from critical shortages of electricity supply expected to continue for the next 20 years, but with a major indigenous but unexploited coal resource. Oracle is seen as a vital participant in the development of Pakistan’s economy especially as no rival coal mining projects have materialised or are in prospect. Current plans are for further drilling to achieve a JORC resource and to complete a bankable feasibility study by end 2009.

2007
Oracle Coalfields operates as an explorer and developer of coal in the Sindh Province of Pakistan. In February 2007, an exploration licence was granted over a 100 sq km area of the Indus East coalfield and after the company’s successful introduction to PLUS in August, a programme of exploration drilling to establish the best location of the envisaged mine site is being undertaken from October onwards, with the exploration licence then expected to be converted to a mining lease. Plans for the financing and construction of the coal mine and the commencement of production will follow. Oracle has entered into a joint venture agreement (Oracle 80% interest) with Sindh Koela Limited, a local Pakistani company, which will work with Oracle to achieve these objectives as well as assuming the role of establishing one or more mine-mouth power plants. Pakistan has a major, yet largely untapped, coal resource of 185 billion tonnes (Indus East 1.8 billion tonnes), along with a serious shortage of electricity that is hindering its planned economic growth, so the role of Oracle Coalfields should assume increasing importance as its project nears fruition. Oracle recognises its major ethical responsibility of ensuring that any coal-fired power generating plant with which it is associated, conforms to international emission standards.