Appointment of Joint Broker

RNS Number:

Oracle Coalfields PLC

22 December 2014

Oracle Coalfields PLC

("Oracle" or "the Company)

Appointment of Joint-Broker

Oracle Coalfields, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, is pleased to announce the appointment of Fox-Davies Capital Ltd ("Fox-Davies") as joint-broker to the Company with immediate effect.

Fox-Davies is a London based specialist corporate finance house and broker that has focused on raising funds for natural resource companies since 2001, particularly for those companies operating in Emerging Markets.

Shahrukh Khan, CEO of Oracle, commented:

"We are pleased to have engaged Fox-Davies as broker to the Company and look forward to working with them in 2015 as we continue to advance Block VI of the Thar coalfield.

Further to the Company's announcement of 11 December 2014 in relation to the notification of cancellation of the Company's mining lease, the Oracle Board is working swiftly to resolve the matter and is taking all necessary steps through the relevant channels in seeking to have the notification withdrawn."

Oliver Stansfield, CEO of Fox Davies, commented:

"Fox-Davies have followed the progress of Oracle for some time. We look forward to working with the Board as joint-broker on the future development of the Company."

For further information:

Oracle Coalfields PLC +44 (0) 203 102 4807

Shahrukh Khan

Fox-Davies Capital PLC +44 (0) 203 463 5061

Oliver Stansfield

Peterhouse Corporate Finance +44 (0) 207 220 9791

Charles Goodfellow

Grant Thornton UK LLP +44 (0) 207 383 5100

Salmaan Khawaja / Jamie Barklem

Blytheweigh +44 (0) 207 138 3204

Tim Blythe / Halimah Hussain

Fortbridge Consulting +44 (0) 7966 389196

Matt Beale / Bill Kemmery