Oracle Coalfields plc

September 22, 2010 02:00 ET

Feasibility Study and New Appointments

                                                                                 22 September 2010

                                       Oracle Coalfields PLC

                                    ("Oracle" or the "Company")
                              Feasibility Study and New Appointments
Oracle  Coalfields  PLC  (PLUS:ORCP), the UK developer of the  1.4  billion  tonne  JORC  Measured
Resource  Thar  coal  deposit in southern Pakistan, announces today that  SRK  Consulting  UK  Ltd
("SRK")  has  been  engaged  as an independent consultant to manage the  Feasibility  Study  to  a
Bankable  Standard ("FS"). As part of this process SRK will carry out an independent review  of  a
Prefeasibility  Study  carried  out  by Dargo Associates Ltd  in  May  2008  and  also  conduct  a
preliminary economic assessment of the project. These preliminary phases will be used as the basis
for the detailed Feasibility Study.

SRK  is  an independent international consulting group with particular expertise in the  field  of
mining  and  exploration. The Group is a leading exponent of mining due diligence and  feasibility
studies and provides consultancy to both major mining houses and junior explorers.
In  addition,  and  working  in  consultation with SRK, Oracle has also  appointed  Aquaterra,  an
international water and environmental company to complete a hydrogeological assessment, and  Dargo
Associates  Ltd,   a  group of dedicated coal specialists and commercial professionals  with  long
experience in coal mining, coal markets and coal contracts as technical advisers to the Company to
oversee  the  site work programme, including sub-crop drilling, hydrogeological and   geotechnical
studies, and geophysical reports.

A separate environmental, social and community report covering all relevant aspects of the Project
is  already underway.  In June 2009, Wardell Armstrong International ("WAI") completed  a  scoping
study  in  respect of Block VI Thar Coalfield development.  WAI has commenced the Environmental  &
Social  Impact Assessment (ESIA), to be undertaken in parallel with the phases of the  Feasibility
Study (FS).

Shahrukh  Khan,  Chairman  and Chief Executive Officer: "We're delighted  to  have  appointed  SRK
Consulting, Aquaterra, Dargo Associates and WAI to progress the project to the next stage  of  its
development.   These  appointments  of internationally known consultants  are  in  line  with  the
purposes  for  which we raised funds in July of this year and we are proceeding with  the  planned
programme on schedule. We look forward to updating the market on the development progress  of  the
projects in the coming months."

The Directors of Oracle are responsible for the contents of this announcement.

For further information please contact:

Oracle Coalfields PLC
Shahrukh Khan, Chairman
Telephone: +44 (0) 1366500722

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: +44 (0)20 7368 6959

Blythe Weigh Communications
Ana Ribeiro / Tim Blythe
Telephone: +44 (0)20 7138 3204


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