Work on Site to Commence and Placing


 
TIDMORCP 
 
Work on Site to Commence and Placing 
                                                                                       23/03/2009 
                                                                        GB00B23JN426/GBP/PLUS-exn 
 
 
                                       Oracle Coalfields PLC 
 
 
                                     Work on Site to Commence 
 
 
                                              Placing 
 
 
The Board of Oracle Coalfields PLC (PLUS: ORCP) ("Oracle" or "the Company"), the UK developer of a 
1.4  billion tonne coal deposit in southern Pakistan, announces that following a Placing, work  on 
the Bankable Feasibility Study for the Company's Thar coalfield in the eastern Sindh province will 
commence  in  April  2009.   A  number of studies will be carried  out  by  leading  international 
consultancies. 
 
 
The  Company  has  placed  5,000,000 new ordinary shares ("Ordinary Shares")  of  0.1p  each  (the 
"Placing Shares") at a price of 3p per share (the "Placing") with certain investors. 
 
The  Placing  will raise gross proceeds of GBP150,000 to provide working capital for  the  business. 
Application will be made to PLUS Markets for the new Ordinary Shares, which will rank  pari  passu 
with  the  existing issued Ordinary Shares, to be admitted to trading on PLUS and it  is  expected 
that the Placing Shares will be admitted on 6th April 2009. 
 
Following the completion of the placing there will be 119,046,334 ordinary shares in issue 
 
Shahrukh Khan, Chairman commented: 
 
"The  monies  raised  allow  us to instruct our consultants to commence the  Bankable  Feasibility 
Study,  including the environmental impact study". 
 
"Our  licence  in  the  Thar coalfield has a very large resource, 1.4 billion  tonnes,  that  will 
provide sufficient coal for power generation in Pakistan, in a country short of electrical  power. 
It  is  national policy to increase the percentage of electricity supplied from coal  fired  power 
stations  and  we are grateful for the support we have received from the Sindh Government  in  our 
venture to become a significant coal producing operation." 
 
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 
Barry Hocken 
Telephone: 020 7628 5582 
Email: barry.hocken@sthelenscapital.com 
 
Lothbury Financial 
Michael Padley 
Telephone: 020 7011 9411 
michael.padley@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). 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. 
 
 
 
 
 
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