Developing Pakistan's First Large Scale Open Pit Coal Mine


Oracle Coalfields is an AIM listed (AIM:ORCP) lignite coal explorer and developer of a 1.4 billion tonne JORC resource deposit, with 371 million tonnes in the proven reserve category. The company’s primary interest is the Thar Coalfield Block VI license area located in the Sindh Province, South Eastern Pakistan

Oracle Coalfields is a UK based company with coal projects in Pakistan. The Directors identified and are now developing Block VI of the Thar Coalfields asset with initial production targeted for 2013. The Company’s Directors will continue to evaluate global opportunities for investment which have the potential to increase shareholder value, as well as identifying strategic partnerships for coal mining and production.

The company signed Memorandums of Understanding (MOU) for an offtake of its coal, with both Karachi Electricity Company (KESC) and Lucky Cement. KESC is a public listed power company which intends to build a power plant(s) at the mouth of the Block VI Thar Coalfield in order to address the power cuts and load shedding in Pakistan. Lucky Cement is a public listed major cement producer in Pakistan.



July 2006, Oracle Coalfields 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.

In 2007, Oracle Coalfields’ 80% owned subsidiary, Sindh Carbon Energy Limited, was granted two licences for coal development by the Sindh Coal Authority and Mines and Minerals Development, Government of Sindh. The first licence, Indus East, was granted on 8th February, 2007, and the license for Block VI of the Thar Coalfield, was granted on 14th November, 2007. Sindh Carbon Energy Limited’s, primary focus is the development of Block VI of the Thar Coalfield. The Indus license is currently held in abeyance as the company focuses on Thar Coalfield Project.

Oracle Coalfields listed on the PLUS Markets primary exchange in August 2007 following a placing with three cornerstone investors. In order to aid liquidity, additional fundraising was completed in September 2007 and June 2008.

The first licence granted, Indus East, covers 100 square kilometres of semi-arid land. The work programme at Indus East commenced in early November 2007. The second licence granted, Block VI of the Thar Coalfield, covers 66.1 square kilometers. Oracle Coalfields completed further drilling to take the project to JORC standard 1.4billion tonne resource with 371million tonnes proven reserve.

In December 2009 Oracle Coalfields signed Memorandums of Understanding (MOU) for an offtake of its coal, with both Karachi Electricity Company (KESC) and Lucky Cement. KESC is a public listed power company which intends to build a power plant(s) at the mouth of the Block VI Thar Coalfield in order to address the power cuts and load shedding in Pakistan. Lucky Cement is a public listed major cement producer in Pakistan.

Project Timeline
1.Successful AIM listing
2.Strengthen management team
3.Progress on the Thar Coalfield Block VI to:
DFS in 3rd quarter 2011 followed by BFS
4.Project Finance to be completed by H1 2012
5.Mine Development H2 2012
6.First Production 2013





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Pakistan declared Thar Coal field special economic zone, fiscal incentives approved for 30 years

http://www.thenewstribe.com/2012/04/06/pakistan-declared-thar-coal-field-special-economic-zone-fiscal-incentives-approved-for-30-years/?__utma=159696636.2114248795.1331852211.1333433392.1333731772.3&__utmb=159696636.2.10.1333731772&__utmc=159696636&__utmx=-&__utmz=159696636.1333731772.3.2.utmcsr=uk.advfn.com|utmccn=%28referral%29|utmcmd=referral|utmcct=/cmn/fbb/thread.php3&__utmv=-&__utmk=52426473#.T4HNqYFLee6

26 June 2012

Oracle Coalfields PLC

("Oracle" or "the Company")

Oracle signs Joint Development Agreement with Karachi Electric Supply Company

for long-term Coal and Water supply

Oracle Coalfields PLC (AIM:ORCP), the UK coal developer of a lignite mineral property located in the south-eastern desert of the Sindh Province, Pakistan, today announces that it has signed a Joint Development Agreement ("JDA") with Karachi Electric Supply Company Limited ("KESC"), through its 80 per cent owned subsidiary Sindh Carbon Energy Limited ("SCEL"), which will see SCEL provide KESC with a long-term supply of coal and water. This agreement supersedes the MoU signed between the respective parties on 12 December 2009.

The coal and water will be used initially by a 300 MW coal-fired power plant (with potential to be increased to 1,100 MW) which will be constructed by KESC adjacent to Oracle's planned coal mine in Block VI of the Thar Coalfield in Pakistan, in an area that will be sub-let by SCEL to KESC as part of the JDA agreement.

Shahrukh Khan, CEO of Oracle, said:

"This is a hugely positive step in the development of Oracle's project in the Sindh Province in Pakistan. It follows shortly after the Mining Lease that the Company was granted on 12 April 2012, and represents significant progress towards our goal of becoming a major coal producer in Pakistan.

"The agreement with KESC brings security in the form of a major purchaser for our product."

SCEL reserves the right, under the terms of the JDA, to enter into discussions with any other third party for the supply of coal, provided that any agreements entered do not affect SCEL obligations to KESC under the JDA.

Audio interview with Shahrukh Khan, Chief Executive Officer of Oracle Coalfields CEO discusses the progress they have made with the That resource, the potential market of the Pakistan Energy Sector and the agreements signed with large established consumers of coal including Karachi Electric Supply, Lucky Cement and announced today Thatta Cement.

Click the link below to listen

http://www.brrmedia.co.uk/event/106560/shahrukh-khan-chief-executive-officer

Oracle recovering nicely from recent lows and 1.5 placing 22% up today not bad..

Shahrukh Khan, Chief Executive Officer discusses Oracle has now put in place the building blocks for project implementation and is in active discussions with potential strategic partners, developers and potential contractors to develop both the mine and a mine mouth power plant with support of the Provincial and National Governments.

CLICK HERE TO LISTEN

Watch: Shahrukh Khan, CEO, Oracle Coalfields - Corporate update

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Oracle Coalfields - The 102nd @Minesitenews Forum

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