Oracle Coalfields plc

April 14, 2011 08:00 ET

Miscellaneous high priority annnouncements

                                                                                              14 April 2011
                                           Oracle Coalfields plc
                                  ("Oracle Coalfields" or the "Company")
                                             Admission to AIM

Oracle Coalfields plc (ORCP), the UK developer of an estimated 1.4 billion tonne coal resource in the south-
eastern  desert of Sindh Province, Pakistan, announces that it has applied today for the Company's ordinary
shares  to  be  admitted  to  trading on the AIM of the London Stock Exchange ("Admission")  following  its
successful fundraising of £3 million (pre-expenses) via a placing of new ordinary shares (the "Placing").

Libertas Capital Corporate Finance Limited ("Libertas") is the Nominated Adviser and broker to the Company.
In addition, Novus Capital Markets Limited ("Novus") acted as broker for the Placing.

Admission  is expected to commence on or around 08:00 GMT on 20 April 2011.  The Company will de-list  from
PLUS at the close of business on 19 April 2011.

Shahrukh Khan, Chairman of Oracle Coalfields commented:

"We  are  very pleased to announce the completion of a successful placing, raising £3 million  and  further
broadening  our  shareholder base. The funds raised will be used for working capital and  to  complete  our
planned work programme for the Bankable Feasibility Study.  It was always our intention to list on AIM  and
we  are  delighted  by  the  strong support of our existing and new shareholders  which  led  to  us  being
significantly oversubscribed.  We look forward to updating the market on future developments at Block VI of
the Thar Coalfields and our imminent AIM listing."

Highlights of the Placing

*         Libertas  and  Novus have conditionally placed 30,000,000 new ordinary shares  at  10  pence  per
          share  ("Placing  Shares"), raising approximately £3 million of new funds (before  expenses)  and
          valuing Oracle at £21.4 million at the Placing Price.

*         The  Directors  intend  to  utilise the net proceeds of the Placing to  provide  general  working
          capital  to  support  the  growth and development of the Group's business  and  to  complete  its
          planned  work  programme for the Bankable Feasibility Study in connection with Block  VI  of  the
          Thar Coalfields in Pakistan.

*         The  Placing  Shares  have been placed with a broad base of institutional investors  following  a
          roadshow across the UK.

*         The Placing was well oversubscribed with high quality demand at the Placing Price.

*         The  new  ordinary shares will represent approximately 14 per cent. of Oracle's  enlarged  issued
          share  capital and will rank pari passu in all respects with the existing issued ordinary  shares
          on Admission. The number of ordinary shares in issue on Admission will be 214,211,000.

*         Regency  Mines  plc, which currently holds 11.3 per cent. of the Company's issued share  capital,
          has  stated  that  it wishes to exercise its right under an agreement dated 8  November  2010  to
          acquire  of an additional 30,427,750 new ordinary shares at 10 pence per share to raise a further
          £3  million  for  the Company.  It is anticipated that the necessary authorities to  issue  these
          further ordinary shares will be proposed at the next annual general meeting of the Company  which
          the Directors intend to hold in June 2011.

*         The  Directors  and certain other shareholders are subject to a 12 month lock-in period  followed
          by a 12 month orderly market restriction following Admission.

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


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

Libertas Capital Corporate Finance Limited
Tel: +44 (0) 20 7569 9650
Sandy Jamieson or Neil Pidgeon

Novus Capital Markets Limited
Nicholas Lee or Charles Goodfellow
Telephone: +44 (0) 20 7107 1872

St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Telephone: +44 (0) 20 7368 6958

Blythe Weigh Communications
Tim Blythe, Ana Ribeiro, Matthew Neal
Telephone: +44 (0) 207 138 3204


The  Company  was  incorporated  on 5 July 2006 as a UK public limited company  and  registered  under  the
Companies  Act  1985  in  England and Wales. Oracle was established for the purpose  of  evaluating  global
opportunities for coal development and exploitation.

Following  a  private  placement of 40 million Ordinary Shares at a price of 1 pence each  and  15  million
Ordinary  Shares at a price of 1.3 pence each on 29 June 2007, raising in aggregate £595,000  (gross),  the
Company  achieved  admission  to  trading on PLUS on 2 August 2007. The  Company  has  subsequently  raised
approximately a further £3 million (gross) from institutional and other investors through private  placings
to finance and progress the Group's coal exploration and development opportunities in the Sindh Province of
Pakistan.  On 6 September 2006, Oracle Coalfields entered into a Joint Venture Agreement with a partner  in
Pakistan,  Sindh Koela Limited, to pursue coal exploration and extraction opportunities in  the  coal  rich
Sindh Province of Pakistan.

On  14 November 2007, Sindh Carbon Energy was granted an exploration licence by the Directorate General  of
Mines  and  Mineral  Development, Government of Sindh, covering 66.1 square kilometres of  Block  VI,  Thar
Coalfield,  District  of  Tharparkar, Sindh Province. On 14 February 2008, a seven borehole  programme  was
commenced  to verify and further evaluate an historic 35-borehole drilling programme conducted in  2006  by
the China Northeast Coalfield Geological Survey Bureau.

This  drilling validation programme was successfully completed within budget in May 2008 and culminated  in
the  definition  by  Dargo  Associates Limited of a 1.4 billion tonnes JORC Measured  Resource  and  Proved
Reserves of 371 million tonnes at the Block VI site. The Company has engaged SRK Consulting to prepare  the
Bankable  Feasibility Study for a 4 million tonnes per annum open-cast coal mine. Under the supervision  of
SRK Consulting (UK) Limited, a number of internationally accredited consultants have been engaged.

RPS  Aquaterra will produce the hydrogeological model and Wardell Armstrong International will produce  the
Environmental  and  Social  Impact  Assessment. Furthermore, local Pakistani  contractors  have  also  been
appointed  under the supervision of Dargo Associates Limited for the drilling work programme in preparation
of the Bankable Feasibility Study.

The Company's overall objective in Pakistan is to become a leading coal producer.


Contact Information

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