Oracle Power PLC (AIM:ORCP), the UK energy developer of a combined lignite coal mine and mine mouth power plant located in Block VI of the Thar desert in the south-east of the Sindh Province of Pakistan (the “Project”) notes today’s share price movement and an article published today in the Dawn newspaper in Pakistan.
And confirms that the Company is in negotiations with the private office of H.H. Sheik Ahmed Dalmook Juma Al Maktoum, a shareholder in the Company, and China Coal Energy Company to form a Joint Development Agreement in order to develop the Project.
Whilst the Company is hopeful that an agreement will be reached in the near future, there can be no guarantee that any such agreement will be entered into or as to the terms of such agreement.
A further announcement(s) will be made as appropriate.
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