2016
- Extension of IRR arrangement
- Increase of equity interest in subsidiary Sindh Carbon Energy Limited from 80% to 98%
- Signed Shareholder Framework Agreement whereby, subject to conditions precedent, a consortium of new and existing Chinese partners will take a 70% equity interest in the Pakistani subsidiaries
- Determination of feasibility stage coal price
2015
- Thar project has been included in the China-Pakistan Economic Corridor (CPEC)
- Formation of Thar Electricity (Private) Limited
- Progress on Thar coal pricing
- Signed a consortium agreement with Chinese partner SEPCO
- A top AIM Performer
2014
- A “No Objection Certificate” was issued by SEPA for the ESIA study for the mine on Block VI, Thar Coalfield
- Oracle signed Engineering Procurement and Construction (“EPC”) Framework Agreement in Beijing with SEPCO, one of China’s leading power and construction groups
2013
- Environmental and Social Impact Assessment (ESIA) study for the mine completed and submitted to the Sindh Environmental Protection Agency (SEPA)
- In September 2013, JDA with China CAMC Engineering Co Ltd for funding and the development of the coal mine
- In November 2013, Memorandum of Understanding (MOU) with SEPCO for the development of a 600MW coal-fired power plant at Block VI, Thar Coalfield
2012
- Joint Development Agreement (JDA) signed with K-Electric for long-term coal and water supply for proposed 300MW coal-fired power plant
- Implementation plan announced for Thar Coalfield including capex requirements and production costs
- Technical Feasibility Study completed by SRK
- JORC code compliant resource
- 529Mt in a 20km2 area of the licence
- 113Mt JORC proven coal reserves in Phase 1
- Mining lease issued for Block VI, Thar Coalfield
2011
- Admission to AIM
- Over £3 million was raised on the London Market
- Strengthening of Board and management
2009
- SRK appointed to conduct a feasibility study of the development of Block VI
- Memorandum of Understanding agreements signed with the Karachi Electric Supply Company (KESC, now known as KE) and Lucky Cement
- Environmental and Social Impact Assessment for the mine approved by the Pakistan authorities
2007
- A Pakistani subsidiary , Sindh Carbon Energy Ltd (SCEL), formed
- SCEL granted licences for coal exploration in Sindh at Badin and Thar Block VI
- Oracle Coalfields admitted to trading on the Plus Market
- Dargo Associates certified a coal reserve at Thar Block VI under the JORC code with a ‘measured resource’ of 1,423 million tonnes and ‘proved reserves’ of 371 million tonnes
2006
- Oracle Coalfields plc incorporated in the UK
- Dargo Associates Ltd were appointed to assess and evaluate coal resources in Sindh