23 Feb 2015 07:00
MINING LEASE RESTORATION
Released : 23 February 2015
RNS Number :
Oracle Coalfields PLC:
23 February 2015
Oracle Coalfields PLC
("Oracle" or "the Company")
MINING LEASE RESTORATION
Oracle Coalfields PLC (AIM:ORCP), the coal explorer and developer of a lignite mineral property located in the south-eastern area of Sindh Province, Pakistan, today announces that it has received formal confirmation by letter dated 20 February 2015 from Directorate, Coal Mines Development, Government of Sindh, Pakistan that the Mining Lease of its subsidiary Sindh Carbon Energy Limited in Block VI of the Thar coalfield has been restored.
Shahrukh Khan, CEO of Oracle, said:
"The restoration of the mining lease is most welcome. I am grateful to the existing and new shareholders who have supported us through this testing period. We continue to work with the relevant stakeholders to progress the project and will continue to update the market as and when further developments occur."
Ends
For further information:
Oracle Coalfields PLC Shahrukh Khan
| +44 (0) 203 102 4807 |
Brandon Hill Capital Limited Oliver Stansfield
| +44 (0)203 463 5000 |
Peterhouse Corporate Finance Charles Goodfellow
| +44 (0)20 7220 9791 |
Grant Thornton UK LLP Salmaan Khawaja, Richard Tonthat, Jamie Barklem
| +44 (0) 207 373 5100 |
Blythe Weigh Communications Tim Blythe, Halimah Hussain
| +44 (0) 207 138 3204 |
Fortbridge Consulting Matt Beale, Bill Kemmery
| +44 (0)7966 389196 |
Oracle Power (ORCP)