Oracle Power Regulatory News (ORCP)

27 February 2024

Oracle Power PLC 

("Oracle" or the "Company") 

Commencement of Geotechnical Study & Electrical Resistivity Survey for Renewable Power Production Facility

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Oracle Power PLC (AIM: ORCP), an international project developer, together with its joint venture company, Oracle Energy Limited ("Oracle Energy"), a developer of green energy projects, are pleased to announce commencement of the requisite Geotechnical Study and Electrical Resistivity Survey (ERS) in respect of the planned Renewable Power plant on the project site in Jhimpir, in the Sindh Province of Pakistan.  Oracle Energy has appointed F&M (Pvt.) Limited ("F&M"), a reputable provider of engineering, testing, and verification services, to conduct the Geotechnical Study and ERS.

The Geotechnical Study will encompass soil investigation and deploy rotary drilling to obtain disturbed and undisturbed samples, as well as core drilling to assess rock formations on the site. The study will record rock quality designations and core recovery values. Field tests will include a standard penetration test and a cone penetration test followed by thorough laboratory testing. A comprehensive engineering report will be delivered, encompassing the field and laboratory data, soil and rock stratigraphy, bearing capacity, settlement and recommendations.

The Electrical Resistivity Survey will determine lithology, porosity and permeability from boreholes drilled. By determining these conditions through ERS technology, developers can seek to optimise site planning and infrastructure design to account for subsurface conditions. Furthermore, the resistivity survey report will serve to inform water management strategies, flood risk assessment and environmental impact mitigation. The integrated approach of parallel soil investigation and an ERS will provide vital data and valuable insights for informed decision-making in the engineering, design and construction planning phase of the project. 

Naheed Memon, CEO of Oracle, commented:

"The commencement of these important studies is testament to our commitment to responsible project development. We remain aligned with national and international standards as we seek to advance relationships with potential investors and lenders and move closer to the Front-End Engineering Design (FEED) phase, thereby solidifying our path towards a comprehensive and sustainable project blueprint. The combined insights from soil investigation and an electrical resistivity survey will ensure the structural integrity and safety of the project and significantly contribute to sustainable development, efficient resource management and environmental stewardship."

-ENDS-

For further information on Oracle Power PLC, visit the Company's website at www.oraclepower.co.uk or contact:

Oracle Power PLC

Naheed Memon - CEO +44 (0) 203 580 4314

Strand Hanson Limited (Nominated Adviser & Joint Broker)

Rory Murphy, Matthew Chandler, Rob Patrick +44 (0) 20 7409 3494

Global Investment Strategy UK Limited (Joint Broker)  +44 (0) 20 7048 9432

Samantha Esqulant

St Brides Partners Limited (Financial PR)  +44 (0) 20 7236 1177

Susie Geliher / Isabel de Salis

About F&M (Pvt.) Ltd

Founded in 2017, F&M Inspections (Pvt.) Ltd. has become a leading provider of engineering, testing, and certification services. Offering NDT, API, building stability assessments, material testing, chemical & water testing, GAP analysis, ISO training, risk assessments, and national/international certification support, their experienced team adheres to international standards while delivering client-centric solutions for industries such as construction, oil & gas and manufacturing. With a commitment to following international codes and standards, quality, and integrity, they assist industries across Pakistan in achieving their goals.