Analyst Research Report Snapshot

Title:

ORACLE COALFIELDS - SIGNS MOU WITH KARACHI ELECTRIC SUPPLY COMPANY

Price:

$10.00

Provider:

Edison Investment Research

Date:

17 Dec 2009

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ORCP.L

Available for Immediate Download
Summary:

Shares in Oracle Coalfields are up 48% on the news that the company has signed a Memorandum of Understanding with the Karachi Electric Supply Company (KESC) which has a market capitalisation of US$630m. The agreement is transformational for Oracle as it paves the way for a Joint Development Agreement (JDA) to develop a mine-mouth power plant at the company’s flagship Block VI coal project. Both parties expect details of the JDA to be finalised by the middle of next year. As part of this, Oracle will be in a position to enter into a long-term coal supply agreement with KESC which would ensure the viability of the company’s planned coal mine development at Block VI. FOR MORE INFORMATION ON THE ATTACHED RESEARCH PLEASE CALL 020 3077 5700, EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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