Oracle Coalfields plc

May 05, 2009 10:06 ET

Fund Raising

                                           Oracle Coalfields PLC
                                               Fund Raising

Oracle  Coalfields  PLC (PLUS: ORCP) ("Oracle" or "the Company"), the UK developer of a 1.4  billion  tonne
coal  deposit  in southern Pakistan, 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.

The Directors of the issuer accept responsibility for this announcement.


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

St Helen's Capital plc
Barry Hocken
Telephone: 020 7628 5582

Lothbury Financial
Michael Padley, Ron Marshman
Telephone: 020 7011 9411


About Oracle:

Oracle  Coalfields plc is a London-based resource exploration and development company with an 80  per  cent
owned  subsidiary (Sindh Carbon Energy Limited) operating in Pakistan.  The Company's shares are quoted  on
the PLUS markets (symbol: ORCP).

Oracle's  flagship project is the Block VI coal project located on the Thar coalfield in the eastern  Sindh
province,  Pakistan. Block VI hosts a JORC-compliant resource of 1.4 billion tonnes of  which  371  million
tonnes are in the proven category.

The Company also owns the Indus East coal project in Pakistan where a pre-feasibility study carried out  by
Dargo Associates has confirmed a JORC-compliant inferred resource of 365 million tonnes.

Contact Information

  • Oracle Coalfields plc