Oracle Coalfields was incorporated in England and Wales on 5th July 2006 as a public limited company under the Companies Act 1985.

In July 2006, the Company engaged Dargo Associates Limited, an international coal consultancy based in the UK, to assist with its investigation of prospective areas of interest and to evaluate coal prospects in the Sindh Province, Pakistan.

On 6th September 2006 the Company entered into an agreement with Sindh Koela Limited. Under the terms of this agreement, Oracle Coalfields and Sindh Koela agreed to form a joint venture company in Pakistan to operate and manage the coal project. The joint-venture company, Sindh Carbon Energy Limited, was incorporated in Pakistan on 23rd January 2007

The Directors believe that there is an attractive opportunity to explore for and extract coal in the Sindh Province of Pakistan and decided to seek a PLUS Markets listing for the Company. The Exploration Licences granted to Sindh Carbon Energy Limited, for coal development has been issued by the Sindh Coal Authority and Mines and Minerals Development, Government of Sindh. The first licence, Indus East, was granted on 8th February, 2007, covering an area of 100 square kilometers, whilst more recently, Block VI of the Thar Coalfield, was granted on 14th November, 2007, covering an area of 66.1 square kilometers. Dargo has prepared a Pre-Feasibility Study for the Indus East coalfields by setting out an exploration programme for further work in the licence area to determine a viable coal deposit and demonstrate the potential for developing a profitable mining operation. A work programme is to be set out by Dargo for the Thar coalfield.

Oracle Coalfields listed on the PLUS Markets primary exchange, PLUS-quoted, in August 2007. Oracle Coalfields is a UK based company with its primary coal projects in Pakistan. It will in time evaluate global opportunities for investment and strategic partnership for coal mining and production.

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