JORC MEASURED RESOURCE AT BLOCK VI THAR COALFIE...

19 May, 2008 GB00B23JN426/GBP/PLUS-exn Oracle Coalfields Plc ("Oracle" or "the Company) Drilling validation defines 1.4 billion tonnes JORC compliant Measured Resources and 371 million tonnes Proved Reserves at Block VI Thar Coalfield, Tharparkar, Province of Sindh, Pakistan. Highlights * Measured Resource at Block VI, Thar Coalfield, of 1.423 billion tonnes * Proven Reserve of 371 million tonnes at phase I and phase II mine areas at Block VI * Coal is of lignite quality and suitable for combustion in power generation Oracle Coalfields PLC (PLUS: ORCP) the coal explorer and developer, announces the results from its seven borehole drilling programme at its 80% owned Block VI coal project located on the Thar Coalfield in Pakistan. The results have returned a total measured resource at Block VI of 1.423 billion tonnes of lignite coal. The area of Block VI that has been delineated as the mine area has returned a proved reserve of 371 million tonnes of lignite coal. The results from the seven borehole drilling programme have validated the results of a 35 borehole drilling programme undertaken in 2006 by the China North Eastern Geological Survey Bureau as commissioned by the Sindh Coal Authority. The results have enabled the project to be taken to the internationally recognised JORC standard (JORC: Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia). The main principles of JORC Code (2004 Edition) and definition of the resource can be read as per the following link: (http://www.jorc.org/main.php) Analyses of the results were carried out by the Company's independent UK coal consultants, Dargo Associates Ltd ("Dargo"). The area of Block VI that has been outlined for the mining area is that which shows the most favourable stripping ratio in relation to the overburden and the thickness of the coal seam. Analyses of the 42 boreholes has shown the geology at Block VI to be simple with no known dislocations and confirmed the quality of coal to be suitable for combustion in power generation. Lignite Measured Resources Mt Lignite Proved Reserves Mt Block VI Area 1,423 - Total Mine Area - 371 Mt = Million Tonnes Shahrukh Khan, Chairman, commented: "We are delighted to announce the JORC results at Block VI of the Thar Coalfield, which have exceeded our expectations. We now look forward to taking the project into the next phase of development. We are reviewing the programme and strategy and shall inform the market of our progress in the near future." Qualified Person The information contained in this announcement has been reviewed by Dr Larry Thomas Ph.D, C.Geol, C.Eng, FIMMM, FGS of Dargo Associates Ltd, independent consultants to Oracle Coalfields PLC. He is a Qualified Person who has more than 30 years experience in coal geology and he is undertaking to act as a Qualified Person for the purposes of this announcement. The Directors of the Issuer accept responsibility for this announcement. ENQUIRIES: ORACLE COALFIELDS PLC SHAHRUKH KHAN, CHAIRMAN TELEPHONE: 01366 500722 EMAIL: S.KHAN@ORACLECOALFIELDS.COM CORPORATE ADVISERS ST HELEN'S CAPITAL PLC BARRY HOCKEN, DIRECTOR TELEPHONE: 020 7628 5582 EMAIL: BARRY.HOCKEN@STHELENSCAPITAL.COM CONDUIT PR JOS SIMSON Telephone: 020 7429 6603 WEBSITE: www.oraclecoalfields.com 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). The Company's flagship project is the Block VI coal project which is located on the Thar coalfield in the eastern Sindh province, Pakistan. Block VI is host to a JORC compliant resource of 1.4 billion tonnes and 371 million tonnes in the proven category. The Company also owns the Indus East project in Pakistan. A pre-feasibility study carried out by Dargo associates confirmed an inferred resource for the area (in line with the JORC Code) to 365 million tonnes, of which the boreholes KHW-1 and KHW-2 give an indicated resource of c.24 million tonnes. Oracle Coalfields plc