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IN BRIEF: Oracle Power In "Strong Position" After Challenging Year

Mon, 11th Jan 2021 18:06

Oracle Power PLC - UK-based natural resource and power project developer - Says final quarter of 2020 "significant period" for the company.

"Despite the prolonged process which we have experienced over the past nine months with the Ministry of Energy, I can say unequivocally that our Thar Block VI Project has never featured more prominently in the minds of key decision makers and government agencies in Pakistan, as the country looks to unlock the exceptional value of this strategic national asset," says Chief Executive Naheed Memon.

Says in "strong position" to move forward, in terms of both its interests in Pakistan and Australia.

"2020 was certainly challenging but with the support of my board, our partners, and shareholders, we progressed fast in Western Australia and enhanced our project significantly via alignment with government goals in Pakistan," says Memon.

Current stock price: 0.757 pence

Year-to-date change: up 9.5%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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