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Latest News
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£1,041,690 FUNDRAISING COMPLETED
28/06/2010
Funds allow additional working capital for completion of the Bankable Feasibility Study.
The Board of Oracle Coalfields PLC (PLUS: ORCP), the UK developer of a 1.4 billion tonne coal deposit in southern Pakistan, is pleased to announce that the Company has successfully raised £1,041,690 via a placing of 34,722,999 new ordinary shares of 1p each in the Company ("Placing Shares") at a placing price of 3p per ordinary share (the "Placing").
Click here to read the full story |
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MEMORANDUM OF UNDERSTANDING SIGNED WITH LUCKY CEMENT LIMITED, A MAJOR CEMENT MANUFACTURER IN SINDH PROVINCE, PAKISTAN
11/01/2010
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, is pleased to announce that the Company has entered into a Memorandum of Understanding ("MOU") with Lucky Cement Limited ("LUCKY"), a major cement manufacturer and exporter based in Pakistan.
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MOU SIGNED WITH KARACHI ELECTRIC SUPPLY COMPANY
16/12/2009
The Board of Oracle Coalfields PLC (PLUS: ORCP), the UK developer of a 1.4 billion tonne coal deposit in southern Pakistan, is pleased to announce that the Company has entered into a Memorandum of Understanding (MOU) with the Karachi Electric Supply Company (KESC), a local power utility company.
Click here to read the full story |
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INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2009
29/09/2009
Period Highlights:
- In-depth research reports published on Oracle Coalfields by Edison Investment Research
- Placing raised £249,400
- Work programme commenced on a Bankable Feasibility Study (BFS) on the Block VI licence, including the Environmental & Social Impact Assessment (ESIA)
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Appointment of Corporate Adviser
21/09/09
Oracle Coalfields Plc announces that it has appointed St Helen’s Capital Partners LLP as the Company’s PLUS Corporate Adviser with immediate effect.
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Result of AGM
10/07/09
On 9 July 2009, Oracle Coalfields Plc held its second Annual General Meeting at the offices of St Helens Capital Plc.
The Directors of the Company are pleased to confirm all the ordinary and special resolutions from the meeting were approved.
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Thar Project Update Positive
07/07/09
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.”
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Shahrukh Khan, CEO of Oracle Coalfields greets His Excellency The Prime Minister
of Pakistan at The World Bank On 29 July 2008 |
Notice of AGM
19/06/09
Oracle Coalfields PLC (PLUS: ORCP) (“Oracle” or “the Company”), the UK developer of the 1.4 billion tonne Block VI coal deposit in southern Pakistan, is pleased to announce that the Company’s Annual General Meeting will be held at the offices of St Helen’s Capital Plc, 3rd Floor, 15 St Helen’s Place, London, EC3A 6DE on Thursday 9th July 2009 at 2:30 pm. At the AGM the Company will present an update on its progress and the planned work programme for this year.
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Wardell Armstrong International Scoping Report Completed
14/06/2009
Environmental & Social Impact Assessment Commenced
Click here to read the full story |
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Directors’ Shareholdings Notification
04/06/09
Oracle Coalfields Plc has been informed today that on 3 June 2009, Mr Anthony Scutt, a Director of the Company,
purchased 13,000 Ordinary Shares at 4.0 pence per share and now has a holding of 113,000 Ordinary Shares and Mr
Shahrukh Khan, the Chairman of the Company purchased 12,500 Ordinary Shares at 4.0 pence per share and now has
a holding of 29,530,791 Ordinary Shares in the Company.
The Directors are now interested in a total of 29,663,791 Ordinary Shares representing 24.24% of the issued
share capital of 122,359,668 Ordinary Share.
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DTR - Shares in Issue
04/06/09
In accordance with the FSA’s Disclosure and Transparency Rules, the Board of Oracle Coalfields Plc
(“the Company”) confirms that as of 29 May 2009 the Company has 122,359,668 Ordinary Shares of 0.1p
each in issue carrying voting rights.
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Resignation of Director
22/05/09
Oracle Coalfields Plc ("Oracle" or "the Company") announces the resignation of Mr. Conrad Windham from the Board with immediate effect so that he may devote more time to other projects that he is involved with. Mr Windham has agreed a 12-month lock-in on his entire shareholding of 5,020,000 ordinary shares and 6,000,000 warrants.
Following this resignation the Directors are interested in a total of 29,638,291 ordinary shares which represents 24.22% of the issued share capital of 122,359,668 ordinary shares.
Shahrukh Khan, Chairman, Oracle Coalfields PLC commented:
"I would like to extend my sincere thanks to Conrad for his involvement as a director with Oracle Coalfields since the Company's formation almost three years ago. Conrad has played an effective role since the Company's inception, and the Company is grateful for all his contribution."
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Final Results 2008
13/05/09
Oracle Coalfields is pleased to announce the final results for the period ending 31 December 2008.
 Click here to view
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Fund Raising
05/05/09
Oracle Coalfields has raised an additional £99,400 following the issue of 3,313,334 new ordinary shares of 0.1p each to certain investors at the same price 3p per share (the "Placing") in the recently completed Placing announced on 23rd March 2009.
The gross proceeds from the above Placing will provide additional working capital for the business.
Following the completion of the placing there will be 122,359,668 Ordinary shares in issue of which the Directors are interested in 34,658,291, shares which represents 28.32% of the issued share capital.
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Wardell Armstrong International appointed
16/04/09
Oracle Coalfields is pleased to announce the appointment of Wardell Armstrong International Limited to carry out the Environmental/Social Impact Assessment (ESIA), part of the Bankable Feasibility Study on the project.
Block VI is located on the Thar coalfield in the eastern Sindh province, and hosts a JORC-compliant resource of 1.4 billion tonnes of which 371 million tonnes are in the proven category.
Shahrukh Khan, Chairman, Oracle Coalfields PLC commented:
"The monies recently raised means that the Bankable Feasibility Study is proceeding and I am pleased that the leading international consultants, Wardell Armstrong International have agreed to carry out the ESIA work. The initial phase of the ESIA, the Scoping Study, shall commence this month. This is another step in achieving our aim of bringing into production the very large resource within the Thar coalfield."
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Work on Site to Commence and Placing
23/03/09
Oracle Coalfields 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 £150,000 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."
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Publication Of Research Note
19/02/09
Oracle Coalfields is pleased to announce that Edison Investment Research has today published a research report, which the Company has commissioned.
Click here to read the full report (PDF document, 392kb)
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Directors' Shareholdings Notification
12/11/08
Oracle Coalfields Plc has been informed today that Roderick Stead, a Director of the Company, purchased 10,000 ordinary shares at 6.45 pence per share and now has a holding of 20,000 ordinary shares in the Company.
The Directors are now interested in a total of 34,658,291 shares representing 30.39% of the issued share capital of 114,046,334.
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Directors' Shareholdings Notification
06/11/08
Oracle Coalfields Plc has been informed today that on 05/11/2008 the following transactions by the Directors of the Company took place. Mr Anthony Scutt purchased 10,000 ordinary shares at 4.95 pence per share and now has a holding of 100,000 shares, Mr Shahrukh Khan, the Chairman of the Company purchased 10,000 ordinary shares at 5.25 pence per share and now has a holding of 29,518,291 shares which equates to 25.88% of the issued share capital and Mr Conrad Windham purchased 10,000 ordinary shares at 5.50 pence per ordinary share and now has a holding of 5,020,000 shares or 4.40% of the issued share capital.
This follows an announcement made on 20 October regarding other purchases of stock in the Company by the Directors.
The Directors are now interested in a total of 34,648,291 shares representing 30.38% of the issued share capital of 114,046,334.
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Directors' Shareholdings Notification
20/10/08
Oracle Coalfields Plc has been informed today that on 20/10/2008 the following transaction by Mr Shahrukh Khan,
the Chairman of the Company, took place. Mr Shahrukh Khan purchased 8,291 ordinary shares at 5.70 pence per
share and now has a holding of 29,508,291 shares which equates to 25.87% of the issued share capital. This
follows an announcement made on 15 October regarding other purchases of stock in the Company by the Directors.
The Directors are now interested in a total of 34,618,291 shares representing 30.35% of the issued share
capital of 114,046,334. |
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Directors' Shareholdings Notification
15/10/08
Oracle Coalfields Plc has been informed today that on 15/10/2008 the following transactions by the Directors of
the Company took place. Conrad Windham purchased 10,000 ordinary shares at 4.45 pence per share and now has a
holding of 5,010,000 shares, Anthony Scutt purchased 10,000 ordinary shares at 4.75 pence per share and now has
a holding of 90,000 shares and Roderick Stead purchased 10,000 ordinary shares at 4.70 pence per share which is
his entire holding.
The Directors are now interested in a total of 34,610,000 shares representing 30.35% of the issued share
capital of 114,046,334. |
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Interim Results - 30 June 2008
29/09/08
- Drilling has defined a JORC Compliant Measured Resource of 1.4 billion tonnes and a Proved Reserves of 371 million tonnes at the Block VI licence, Thar Coalfield, Tharparkar, Province of Sindh, Pakistan
- Coal is of lignite quality and suitable for combustion in power generation
- Work programme for a Bankable Feasibility Study on the Block VI licence planned to commence in fourth Quarter 2008.
- Private placing completed in June 2008 with Orbis Equity Partners Limited raising GBP453,750
- Chairman, Shahrukh Khan, presented at a World Bank and International Finance Corporation Investor Roundtable on Pakistan’s Power Sector in Washington D.C. during July 2008.
Click here to read more |
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World Bank Roundtable
04/08/2008
Oracle Coalfields Plc the coal explorer and developer in Pakistan, is pleased to give
the following update. At an operational level the Company is in the final stages of outlining the
strategic programme for its Block VI property of the Thar Coalfield and expects to update
investors by the end of the third quarter.
Click here to read more |
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Issue of Equity
12/06/08
The Board of Oracle Coalfields plc is pleased to announce that it has raised GBP453,750 through a placing of 5,500,000 shares with Orbis Equity Partners Ltd ("Orbis") at 8.25p.
Additionally, 5,500,000 warrants have been issued to the investors that took part in the placing through Orbis and are exercisable at 14p in whole or in part at any time until 31 May 2010.
CHAIRMAN'S STATEMENT
"I am delighted with the response to the recent placing, which far exceeded the sum we set out to raise, and is testament to the progress the company has made to date on its flagship project, Block VI Thar Coalfield, and the strategy that is being put in place to bring the Thar project into development."
There are now 114,046,334 Ordinary Shares in issue and the Directors are interested in a total of 34,580,000 Ordinary Shares which represent 30.32% of the issued share capital of the Company. |
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Shareholding Notification
19/05/08
Oracle Coalfields Plc has been informed today that Mr Andrew Neubauer and his family are now interested in 17,900,000 Ordinary Shares in the Company. This holding has been reduced from 17.87% and now represents a shareholding of 16.49% of the issued share capital of the Company. The transactions made were executed strictly in order to satisfy the PLUS Rules for Issuers in order to maintain liquidity in the Company's shares and to ensure an orderly market.
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Drilling validation defines 1.4 billion tonnes JORC compliant Measured Resources and 371 million tonnes Proved Reserves at Block VI Thar Coalfield, Tharparkar, Province of Sindh, Pakistan.
19/05/08
Drilling validation defines 1.4 billion tonnes JORC compliant Measured Resources and 371 million tonnes Proved Reserves at Block VI Thar Coalfield, Tharparkar, Province of Sindh, Pakistan.
Click here to read more |
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Drilling Programme Completed at Block VI, Thar Coalfield, Pakistan
09/05/08
Oracle Coalfields Plc is pleased to announce that the seven borehole drilling programme on Block VI of the Thar Coalfield in Pakistan has been successfully completed within budget. The purpose of the seven borehole programme was to validate the exploration results from the China North East Geological Survey Bureau ("CNEGS"), which completed a 35-borehole programme on Block VI in 2006.
The Company now looks forward to reporting an internationally recognised JORC standard reserve at Block VI by the end of the current quarter.
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Final Results for the Year Ended 31 December 2007
09/04/08
Highlights
- Successful admission to PLUS in August 2007 at 3p per share, following placing of shares
raising GBP595,000
- Private placing at 3p per share completed in September 2007 raising GBP106,390
- Sindh Carbon Energy Ltd (80% owned) granted an exploration licence over Block VI of the
Thar Coalfield, in the Sindh Province of Pakistan, covering 66.1 square kilometres
- Sindh Carbon Energy Ltd granted a 100 square kilometre exploration licence at the Indus East
coalfield, KhoreWah, in the Sindh Province of Pakistan
- Drilling services contract signed within budget between Sindh Carbon Energy Ltd and
Pakistan-based coal specialist, Deep Rock Drilling (PVT) Ltd, to complete the work
programme at Thar and Indus East
- Work programme commenced at Indus East coalfield, KhoreWah in November 2007
Click here to read more
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18/02/08
Highlights
- Drilling commenced at Thar coalfield, Sindh Province
- Results are expected to validate previous exploration data to bring Block VI resource into
JORC standards
Oracle Coalfields plc ("Oracle" or "the Company"), the coal exploration and development company, is pleased to announce that Deep Rock Drilling (PVT) Ltd ("DRD") has commenced drilling the first borehole of a seven hole programme on Block VI of the Thar Coalfield, Province of Sindh, Pakistan on 14th February 2008.
The purpose of the drilling programme is to validate the results achieved by the China North East Geological Survey Bureau ("CNEGS"), which completed a 35-borehole programme in 2005, as commissioned by the Sindh Coal Authority. A total depth of 9,852 metres was drilled over 35 holes by CNEGS, of which 5,986 metres was cored. All boreholes were geophysically logged, and 273 lignite samples were analysed for quality.
The purpose of the work programme undertaken by DRD should enable the results of the CNEGS 35- borehole programme to be validated, and for Block VI to be taken to the internationally recognised JORC standard and an independent Competent Persons Report prepared expected Q2 2008.
SHAHRUKH KHAN, CHAIRMAN, SAID:
"I am delighted that the drilling programme has now commenced on Block VI of the Thar Coalfield, and that it has been signed within budget. We are on schedule to meet our development intentions, and are pleased with the ongoing support that we have received to date from the relevant government authorities in the Province of Sindh."
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04/01/08
The Board of Oracle Coalfields Plc ("Oracle" or "the Company") is pleased to announce the
appointment of Mr. Roderick Stead as a Non-Executive Director with immediate effect.
Mr. Stead (62) brings considerable experience in a wide variety of management roles in the oil,
gas, coal, mining and forestry industries in different environments. Between 1967 and 2003 Mr.
Stead worked in several international locations for the Royal Dutch Shell Group of Companies. His
positions included working as the Finance Controller for Shell Expro, the operator of the
Shell/Exxon North Sea joint venture between 1984-1987, before moving to Chile, where he was
Finance Director and a board member of 18 Chilean Shell subsidiaries between 1987-1991. From 1991-
1996 Mr. Stead worked as Group Advisor on Acquisition and Divestments for Shell International
Petroleum Company Ltd. From 1996-1999 he was based in the Sultanate of Oman, where he worked as
leader of the financing team for Oman LNG LLC, prior to becoming leader of the financing team for
Nigeria LNG Ltd between 1999-2003.
SHAHRUKH KHAN, CHAIRMAN, SAID: "I am delighted to welcome Roderick to the board of Oracle
Coalfields. Roderick brings a wealth of experience in strategic business analysis, corporate
governance and the management of major joint venture relationships and strategic alliances.
Roderick's wide ranging experience in project finance negotiations and financial management will
be of great benefit to the Company as it moves forward with developing its projects and business."
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29/11/07
Oracle Coalfields Plc has been informed today that Mr Andrew Neubauer and his family are now interested in 19,400,000 Ordinary Shares in the Company. This holding has been reduced from 18.42% and now represents a shareholding of 17.87% of the issued share capital of the Company. The transactions made were executed strictly in order to satisfy the PLUS Rules for Issuers in order to maintain liquidity in the Company's shares and to ensure an orderly market.
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20/11/07
The Board of Oracle Coalfields plc ("Oracle" or "the Company") is delighted to announce that its 80% owned Pakistan subsidiary, Sindh Carbon Energy Ltd, has been formally granted the exploration licence over Block VI of the Thar Coalfield, District of Tharparkar, Province of Sindh, by the Mines & Mineral Development, Government of Sindh.
The exploration licence over Block VI of the Thar Coalfield has been granted for a three year period and covers a landmass of 66.1 square kilometres over semi-arid land. Block VI is situated 32 kilometres from the town of Islamkot, District of Tharparkar, Province of Sindh.
The Board of Oracle Coalfields looks forward to providing details of a full exploration programme for Block VI in the near future.
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Shareholding Notification
08/11/07
Oracle Coalfields Plc has been informed today that on 07/11/2007 the following
transaction by a Director of the Company took place. This sale was executed
strictly in order to satisfy the PLUS Rules for Issuers as set out in the
admission document in order to maintain liquidity in the Company's shares and
to ensure an orderly market.
Shahrukh Khan, Chairman and Chief Executive sold 100,000 Ordinary Shares of 0.1
pence per share at 4.00 pence per share. Following this transaction Shahrukh
Khan now holds 29,500,000 Ordinary Shares representing 27.18% of the current
issued share capital. The Directors of Oracle Coalfields Plc are now interested
in 34,580,000 Ordinary Shares representing 31.86% of the issued share capital
of the Company.
Under the orderly market agreement Shahrukh Khan agreed to make a total of
500,000 Ordinary Share available for liquidity purposes which has now been
fulfilled after which further shares will be made available from an independent
shareholder who is not a Director of the Company.
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Directors Shareholding
06/11/07
Oracle Coalfields Plc has been informed today that on 06/11/2007 the following
transaction by a Director of the Company took place. This sale was executed
strictly in order to satisfy the PLUS Rules for Issuers as set out in the
admission document in order to maintain liquidity in the Company's shares and
to ensure an orderly market.
Shahrukh Khan, Chairman and Chief Executive sold 100,000 Ordinary Shares of 0.1
pence per share at 3.75 pence per share. Following this transaction Shahrukh
Khan now holds 29,600,000 Ordinary Shares representing 27.27% of the current
issued share capital. The Directors of Oracle Coalfields Plc are now interested
in 34,680,000 Ordinary Shares representing 31.95% of the issued share capital
of the Company.
Under the orderly market agreement Shahrukh Khan has agreed to make a total of
500,000 Ordinary Share available for liquidity purposes after which further
shares will be made available from an independent shareholder who is not a
Director of the Company. |
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MoU Signed For Block VI of Thar Coalfield
05/11/07
The Board of Oracle Coalfields plc (“Oracle” or “the Company”) is delighted to announce that on 3rd November 2007, its 80% owned Pakistan subsidiary, Sindh Carbon Energy Ltd, signed a Memorandum of Understanding with the Sindh Coal Authority and the Mines & Minerals Department, Government of Sindh, for Block VI of the Thar Coalfield, District of Tharparkar, Province of Sindh, Pakistan.
Click here to read more
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Oracle Coalfields plc - Shares in issue
28/09/07
In accordance with the FSA's Disclosure and Transparency Rules, the Board of Oracle Coalfields plc confirms that as at 28 September 2007 the Company has 108,546,334 Ordinary Shares of 0.1p each in issue carrying voting rights.
The Directors of the Issuer accept responsibility for this announcement. |
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Interim Results - 30 June 2007
24/09/07
- Formation of 80% owned Pakistani subsidiary company, Sindh Carbon Energy Ltd
- Sindh Carbon Energy Ltd granted a 100 square kilometre exploration licence at the Indus East coalfield, KhoreWah, in the Sindh Province of Pakistan
- Securing the services of international coal specialists, Dargo Associates Ltd
- Investment of GBP595,000 from cornerstone investors
Click here to read more |
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Issue of Equity
17/09/07
The Board of Oracle Coalfields plc ("Oracle" or "the Company") is pleased to announce that the Company has issued 3,546,334 new Ordinary shares of 0.1 pence each through a private placing at 3 pence per share with investors which raised GBP106,390. This offer was restricted to those investors who had subscribed to its original March 2007 Offer which lapsed earlier this year. The subscription monies will be used as additional working capital to enable Oracle's 80% owned subsidiary, Sindh Carbon Energy Ltd, to progress its coal development opportunities in the Sindh Province of Pakistan.
Click here to read more |
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Contract Signed for Exploration Programme
20/08/07
The Board of Oracle Coalfields plc ("Oracle" or "the Company") is pleased to announce that its 80% owned subsidiary, Sindh Carbon Energy Ltd, has signed a drilling services contract, within budget, with the Pakistan-based coal specialist, Deep Rock Drilling (PVT) Ltd ("DRD"), fulfilling its stated intention in its Admission Document.
Click here to read more |
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Shareholding Notification
03/08/2007
Oracle Coalfields Plc has been informed today that on 02/08/2007 the following
transactions by the Directors of the Company took place. These sales were
executed strictly in order to satisfy the PLUS Rules for Issuers as set out in
the admission document in order to maintain liquidity in the Company's shares
and to ensure an orderly market.
Click here to read more |
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Admission to PLUS
02/08/2007
The Directors of Oracle Coalfields Plc ("the Company") are pleased to announce
that its entire issued Ordinary Share capital has today been admitted to
trading on PLUS.
Click here to read more |
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