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Latest News
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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.
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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.
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Shahrukh Khan, CEO of Oracle Coalfields greets His Excellency The Prime Minister
at The World Bank On 29 July 2008 |
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.
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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
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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.
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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
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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.
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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.
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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.
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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.
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