22 September 2010
GB00B23JN426/GBP/PLUS-exn
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
Email: s.khan@oraclecoalfields.com
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
WEBSITE: www.oraclecoalfields.com
Oracle Coalfields plc