Oracle Coalfields plc

May 09, 2008 02:02 ET

Oracle Coalfields Plc: Drilling Programme Completed at Block VI, Thar Coalfield, Pakistan

LONDON, UNITED KINGDOM--(Marketwire - May 9, 2008) - 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.

The Directors of the Issuer accept responsibility for this announcement.

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