Oracle Power Regulatory News (ORCP)

Oracle Coalfields PLC

("Oracle" or the "Company")

Results for the Year ended 31 December 2011

24 April, 2012

Oracle Coalfields PLC (AIM:ORCP), the coal developer of a lignite mineral property located in the south-eastern desert of Sindh Province, Pakistan, today announces results of the Company and the Group for the year ended 31 December 2011.

Highlights of the year:

·; Admission of the Company to AIM

·; Successful £3 million fund-raising

·; Additional drilling completed for Feasibility Study

·; Strengthening of the Board and Management team

Subsequent developments:

·; Feasibility Study completed

·; Mining Lease awarded

·; Mine development planning in full progress

·; Debt and equity funding options being evaluated

·; Company status as first mover future coal producer enhanced

Shahrukh Khan, CEO of Oracle, said:

"Oracle Coalfields PLC has all the building blocks in place to achieve its target of delivering Pakistan's first large-scale mine, while also producing long-term sustainable returns for our shareholders. With the Mining Lease and Feasibility Study now in place, we are under discussion with an international mining contractor for mine development and operation on a cost-effective basis."

Chairman's Statement

I am delighted to present my first Chairman's statement, having joined the Board and taken over from Shahrukh Khan as Chairman on 1 August 2011. My appointment has allowed Shahrukh to focus on his expanding role as Chief Executive Officer. I am sure you will join me in thanking Shahrukh for his excellent performance as Chairman. I am delighted to be working with him, the Board and senior management.

The Company's results for the 12 months to 31 December 2011 reflect a year in which Oracle Coalfields PLC has made significant progress, including admission of the Company's shares to the AIM market of the London Stock Exchange on 20 April 2011, the strengthening of management and the Board and the submission of the application for a Mining Lease.

A total of £3 million (pre-expenses) was successfully raised via a placing of 30 million new ordinary shares. These funds are being used as working capital for our coal project in Block VI of the Thar Coalfield of Southern Pakistan. The Board was pleased at the participation of new as well as existing shareholders in the oversubscribed placing.

During the last year, the Company strengthened its Board and management with the appointment of a Finance Director, a Mine & Contracts Manager and a Project Coordinator.

After the end of the financial year, the Company has delivered the Feasibility Study described by Shahrukh Khan overleaf. This document will be used to target project finance, and ultimately progress Oracle Coalfields PLC towards its ambition of being the developer of Pakistan's first large-scale mining operation.

As might be expected for a mining company at this stage of development, our consolidated financial results for the year to 31 December 2011 show an operational loss after taxation for Oracle Coalfields PLC and its subsidiaries (the "Group") of £948,092 (2010: £221,589), which incorporates the costs of £293,429 incurred by the Company in respect of its admission to AIM, as set out in the financial statement. At the period end, and following the successful fundraising of £3 million at the time of the AIM admission, the Group had cash and cash equivalents of £1.60 million (2010: £1.51 million) and total assets less current liabilities of £4.23 million (2010: £2.35 million). The basic loss per share was 0.46p (2010: loss 0.15p).

The Group has sufficient funds to cover its immediate working capital requirements. However, additional funds will be needed for working capital later this year to develop the Block VI coal mine. The Group is therefore considering options and strategies to raise the necessary debt and equity.

Shareholders will understand that the past 12 months have been notable for our Company; this would not have been possible without the hard work and expertise of our teams in both Pakistan and the United Kingdom. They have set the foundations for building the future of our Company.

The Board also extends its thanks to the Coal and Energy Development Department, the Government of Sindh, and the Sindh Coal Authority for their valuable assistance.

I look forward to updating the market on the progress of our Company in due course.

Adrian Loader

Chairman

Chief executive's statement

In the last decade, global demand for coal has risen by 61 per cent, most of which is attributable to developing countries like China and India and the use of coal for power generation. According to the International Energy Agency, in 2010 global coal consumption rose by 10.8 per cent, compared to global demand for oil and gas, which rose by 3.1 per cent and 7.4 per cent, respectively. Coal's share in global energy consumption was 29.6 per cent, the highest it has been since 1970. The reality is that demand for coal will continue to grow as the world needs more energy.

Major global coal-producing countries such as South Africa, Australia and Indonesia have been exporting thermal coal for some time to major consumers with prices in excess of US$100 per tonne.

As Pakistan's population grows and the country's infrastructure is upgraded there is a greater need for power. The country is facing major energy shortfalls with daily blackouts. Nationally and locally, authorities are supportive of Oracle Coalfields PLC, as shown by infrastructure investments made in the Sindh region. These include a new airport under construction 30 kilometres from the mine site, planned upgrade of roads between Karachi and Thar, planned new drainage canals for the entire Thar coalfield area and planned upgrade of the transmission network which will support distribution of thousands of megawatts of electricity. Oracle Coalfields PLC is well positioned to benefit from these developments and to help provide a sustainable source of fuel to power the country's growth and development.

Until now Pakistan's businesses and consumers have been largely dependent on imported coal and therefore exposed to increasing price levels. The Government's support for early development of the Thar Coalfield has become a key element in its strategy of meeting the growing domestic demand for energy at the lowest possible cost while alleviating the balance of payments.

We continue to make good progress towards meeting our objective of delivering an open pit coal mine on the Block VI coal deposit in the Thar Coalfield of Southern Pakistan. The Feasibility Study, which was carried out by SRK Consulting, is complete. Certain aspects of the environmental studies remain to be completed, which we expect to be done by mid-2012. To support the Feasibility Study, more than 6,000 metres of additional drilling was carried out at Block VI between August 2010 and February 2011. A total of 35 holes were drilled in a 5 square kilometre area considered the most favourable for open cast mining and referred to as Phase 1. Of these holes, 14 cored and nine open holes were drilled for geological purposes, four cored holes were drilled for geotechnical assessment and eight percussion holes were drilled to determine hydrogeological parameters and to identify dewatering requirements for an open pit mine. Samples from four of the cored holes were subjected to geotechnical testing on site and a batch of 316 samples was dispatched to a laboratory in the UK for further tests. All drilled core has been logged and sampled with selected samples sent to Karachi and the UK for coal quality testing. Four test wells and four observation holes make up the eight holes drilled for hydrogeological purposes.

As part of the Environmental Social Impact Assessment, measurements are being conducted on wells and water samples are being analysed in Pakistan by Wardell Armstrong International. Water is vital to the local communities surrounding the mine as well as to the future power plant operations but it is only one aspect of the corporate social responsibility programme we are completing. In 2012 we are especially addressing the requests of the local community regarding clean water, healthcare and job creation. The mine remains based on an open pit design. It is expected that a truck and shovel operation will be the most cost-effective way to operate the mine initially. Full mine development is expected to begin in 2013 with initial coal production targeted for 2014.

The Company has engaged high quality, internationally recognised consultants throughout the process. We are proud of the fact that the Company is ahead of any other coal project in the region, and that the work we have carried out has effectively laid a framework and set the standards to deliver successfully this type of project in the Thar region, and to unlock the value of the country's abundant coal resources.

We are in the fortuitous position that the local and national authorities in Pakistan, with whom we have worked extensively, are supportive of our Block VI Thar project. Pakistan's growing deficit in power generation is assuming serious dimensions, particularly in Karachi, the industrial hub of the country with a population of more than 15 million people.

Our project will be potentially Pakistan's first large-scale open pit coal mining operation and it is already receiving wide local and international interest for its significance for Pakistan's future economic wellbeing. With this responsibility in mind, the Company is making every effort to ensure that the development of our coal mine complies with the requirements of international standards and practice, while seeking to bring it into production in the earliest possible timeframe.

Oracle Coalfields PLC has all the building blocks in place to achieve its target of delivering Pakistan's first large-scale mine, while also producing long-term sustainable returns for our shareholders. Our key challenge now is to finance the project and to bring it to fruition in a timely manner. To this end, the Company has commenced discussions with major financing institutions and will seek to raise additional funds to be progressively drawn down in line with development requirements from the capital markets at the appropriate time.

Shahrukh Khan

Chief Executive Officer

Consolidated income statement

for the year ended 31 December 2011

Consolidated statement of comprehensive income

for the year ended 31 December 2011

Consolidated statement of financial position

31 December 2011

Consolidated statement of changes in equity

for the year ended 31 December 2011

Consolidated statement of cash flows

for the year ended 31 December 2011

The financial information set out above does not constitute statutory accounts as defined in the Companies Act 2006.

The balance sheet at 31 December 2011, the profit and loss account, and the cash flow statement for the year then ended have been extracted from the Company's statutory financial statements upon which the auditor's opinion is unqualified and does not include any statement under Section 498 of the Companies Act 2006.

Copies of the report and financial statements will be posted to Shareholders shortly and will be available for download on the Company's website at www.oraclecoalfields.com.

For further information:

Oracle Coalfields PLC +44 207 317 4050

Shahrukh Khan

Blythe Weigh Communications +44 207 138 3204

Tim Blythe (07816924626), Susan McKenzie (07919050828), Robert Kellner (07800554377)

Novus Capital Markets +44 207 107 1881

Denis Christie, Charles Goodfellow

Libertas Capital Corporate Finance Limited +44 207 569 9650

Sandy Jamieson, Neil Pidgeon