Presentation of Project Status for Thar Block VI International Coal Conference, Pakistan

22nd October 2011

222

Disclaimer

THESE PRESENTATION MATERIALS ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES, AND NEITHER THE PRESENTATION MATERIALS NOR ANYTHING CONTAINED THEREIN NOR THE FACT OF THEIR DISTRIBUTION SHALL FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH OR ACT AS ANY INDUCEMENT TO ENTER INTO ANY CONTRACT OR COMMITMENT WHATSOEVER.

The Presentation Materials are being issued on a strictly private and confidential basis and solely to and directed at (a) persons having professional experience in matters relating to investments and who are persons specified in Article 19 and/or Article 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotions Order”); or (b) who are otherwise permitted to receive them. This document is exempt from the general restriction on the communication of invitations or inducements to enter into investment activity and has therefore not been approved by an authorized person as would otherwise be required by section 21 of the Financial Services and Markets Act 2000. Any investment to which this document relates is available to (and any investment activity to which it relates will be engaged with) only those categories of persons described above. It is a condition of your receiving this document or attending this presentation that you fall within, and you warrant and undertake to Oracle Coalfields PLC (“the Company”) that (i) you fall within, one of the categories of persons described above, (ii) you have read, agree to and will comply with the terms of this disclaimer and (iii) you will conduct your own analyses or other verification of the data set out in the Presentation Materials and will bear the responsibility for all or any costs incurred in doing so. The Presentation Materials are confidential and should not be copied, distributed or passed on, directly or indirectly, to any other class of persons. They and any further confidential information made available to you are being supplied to you solely for your information and may not be reproduced, forwarded to any other person or published, in whole or in part, for any other purpose. The Presentation Materials contain only a synopsis of more detailed information publicly available in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of losing all of the property invested by you.

The information contained in the Presentation Materials is for background purposes only and is subject to updating, completion, revision, amendment and verification, which may result in material changes. No reliance should be placed on the information and no representation or warranty (express or implied) is made by the Company, any of their respective directors or employees or any other person, and, save in respect to fraud, no liability whatsoever is accepted by any such person, in relation thereto.

33

Oracle Coalfields - a coal developer in Pakistan

• Listed on AIM market of the London Stock Exchange

• UK developer of a 1.4 billion tonne JORC lignite coal resource

• Experienced Management Team

• Appointment of international reputed consultants

• MOU with Karachi Electric Supply Company (KESC); 300MW initially increasing to 1,100MW in a phased out program

• Definitive Feasibility Study completed

• Mine construction expected to commence in H2 2012

• Target 5 million tonnes per annum expected H2 2015 to feed power sector

Market• Demand for electricity in Pakistan projected to outstrip supply for next 20 years• Coal to become increasingly important as an energy resource

3

Pakistan’s first large scale open-pit coal mine

4

Increasing demand for Coal in Pakistan

Market

• Critical power shortage worsening, with regular power cuts and blackouts in Karachi:

population approximately 20 million

• Pakistan has a population of 180m people, sixth largest in the world

• GDP growth has averaged 5.2% over the last 8 years

• Demand for electricity in Pakistan projected to outstrip supply for next 20 years

• Domestic coal to become increasingly important as an energy resource. In 2008/2009 coal

accounted for less than 1% of Pakistan’s power sector which is expected to rise to 17% by 2025

• International coal price rising steadily

55

Background on the Thar Coalfield

5

• 175bn tonnes of coal, over a 9,100 square kilometre area in South Eastern Pakistan

• Geological Survey of Pakistan (GSP) discovered huge deposits of coal in the Thar Desert in 1992 during a research program assisted by United States Geological Survey (USGS). Further consultant studies conducted by John T. Boyd, RWE, Shenhua, GSP, SCA (CNGB)

• Well situated for infrastructure and in close proximity to road and rail

• Oracle Coalfields, Block VI is 66.1 square kilometres; The cumulative coal in Phase 1 of Block VI licence area ranges between 16.9m to 39.76m lignite to sub-bituminous in rank

• In 2006 China NE Geological Survey Bureau drilled 35 boreholes, on Block VI a total of 9,852 metres, validated by independent consultants after further drilling to take it to JORC resource. A further detailed drilling programme completed including hydrogeology and geotechnical drilling.

• 1.4 billion tonne JORC lignite coal resource of which 371Mt net attributable proven reserve

66

Commercially Viable Lignite Coal

Thar Block VI

The cumulative coal in Phase 1 of Block VI licence area ranges between 16.9m to 39.76m lignite to sub-bitumous in rank:

•Average gross calorific value of 3,537kcal/kg •Average ash content of 7.5% (as received)•Moisture content of 40.4 % (as received)•Sulphur content of 1.2% (as received)

The primary use of the coal will be for power

Bituminous Coal Quality

MJ/kg

77

Realising the Value of the Asset

Confirming Commercial Viability

•Definitive Mine Feasibility Study completed, DFS includes:

Completed :Drilling – Geotechnical, sub-crop and hydrogeology

In progress :

Environmental & Social Impact Assessment

Drilling at Block VI, Thar Coalfield

8

Planned Next Steps

•Definitive Feasibility Study completed

•Negotiate off-take agreements in H2 2011

•Arrange Project finance H1 2012

•Open pit with Truck & Shovel H2 2012

•The DFS is based on production of 5Mt p.a. from 2015 with minimum mine life of 20 years

Bringing Project into Production

99

The Investment Opportunity

• A growing company in a growing market Pakistan coal demand to rise from 1% to 17% of domestic energy of

rapidly growing production JORC Resource of 1.4 billion tonnes Developing large scale open pit mine in Thar Coalfield Government support for coal production in Pakistan

• Planned to develop mine in 2012

• Experienced Management Team supported by first class international consultants

• Off-take Agreement MOUs signed with: KESC

9

1010

APPENDIX

111111

¹ Source: Pakistan Energy Yearbook 2009

Power Sector of Pakistan by Resource

Increasing Demand for Coal

Installed capacity by source, 2008 - 2009

(19,786 MW) ¹

Coal-sourced electricity generation capacity is projected to increase substantially as part of the government’s energy plan.

By Source

Hydel, 30.30%

Nuclear & Imported, 2.00%

Oil, 35.30% Coal, 0.10%

Gas, 32.30%

1212

Pakistan’s Projected Power Generation Deficit2012 – 2020

12

Source: Private Power & Infrastructure Board, Government of Pakistan, 2008

Increasing Demand for Electricity

Meg

aw

att

s

Year

13

Mine Development

Phase One Phase Two

Phase I includes the Mine with coal reserves sufficient for opening a power plant of 300 MW. Phase II of the Open Pit Mine development enables expansion of the Power Plant with approximate power of 800 MW. During the Phase I operation of the Mine, all overburden will be dumped out of the pit. During Phase II operation, the spoil will be dumped in the pit, filling the void behind operations as the mine progresses.

Planned location of power station and mine village

During Phase II the spoil will be dumped into the pit behind operations

Location of spoil dump during Phase I

14

Waste and Coal removal from the mine

Conveyer belt

Planned power station and mine village

Location of spoil dump for Phase I

Mine

Mine

Thar Open pit Mine Feasibility Drilling

16

Thar Open pit Mine Feasibility Drilling

Take Away Statement

© S

RK

Co

nsu

ltin

g (

UK

) L

td 2

011.

A

ll r

igh

ts r

eser

ved

.Block VI Cross Sections through the Coal Model with 5 X vertical exaggeration

100m

100m

1km

1km

SW

NW SE

NE

Take Away Statement

Analysed Initial Box Cut Design©

SR

K C

on

sult

ing

(U

K)

Ltd

201

1. A

ll ri

gh

ts r

eser

ved

.

Final P

hase

Final Phase

Work

ing Phase – 700 m

long

Section for Slope Stability Analysis

Section for Slope Stability Analysis

Working Phase ~ 1400 m

long

NW

SE

Take Away Statement

Infrastructure Development – Strategic plan©

SR

K C

on

sult

ing

(U

K)

Ltd

201

1. A

ll ri

gh

ts r

eser

ved

.

Pit Outline

Ponds

Residential Camp

Diverted Road

Workshops & Admin Area