11 April 2024

Oracle Power PLC 

("Oracle" or the "Company") 

Completion of Geotechnical Study & Electrical Resistivity Survey for Renewable Power Production Facility, Pakistan

Oracle Power PLC (AIM: ORCP), an international project developer, together with its joint venture company, Oracle Energy Limited ("Oracle Energy"), a developer of green energy projects, is pleased to announce the completion of the Geotechnical Study and Electrical Resistivity Survey (ERS) in respect of the planned renewable power plant on the project site in Jhimpir, in the Sindh Province of Pakistan.  F&M (Pvt.) Ltd ("F&M"), a leading provider of engineering, testing, and verification services, completed the studies and submitted reports which confirm favourable conditions for development and provide guidance for construction and water management.

The Geotechnical Study, which involved comprehensive soil investigation and rotary drilling, encountered sand, silt, gravel, silty sand, mudstone, limestone, sandstone, friable sandstone, claystone and shale in boreholes during field investigation. Laboratory testing of these samples was carried out in the F&M laboratory in Karachi. Water was not encountered in boreholes during exploration, but this may fluctuate due to seasonal and other environmental variations.

Due to presence of negligible exposure of sulphate and chloride in soil and rock samples extracted from boreholes, ordinary cement as per ASTM C-150 has been recommended to use for all underground construction, confirming favourable ground conditions for project development.

The Electrical Resistivity Survey (ERS) which was also completed in parallel, determined subsurface lithology, porosity, and permeability, providing critical insights for site planning, infrastructure design, and water management strategies. The survey identified diverse lithological characteristics, including the presence of clay, sandstone, and limestone, alongside significant groundwater resources.

Following completion of the Geotechnical Study and the ERS, the Company intends to undertake Front End Engineering and Design (FEED) studies and, in parallel, proceed to securing potential financial arrangements for on ground construction and development of its renewable power and green hydrogen project.

Naheed Memon, CEO of Oracle, commented:

"The completion of the Geotechnical Study and Electrical Resistivity Survey mark further significant milestones in the development of our 1.3 GW renewable power and green hydrogen project, and also completes all ground related investigation for the large 28.3 sq km project site. The studies have confirmed the favourable attributes for development of the site, and generated valuable data and insights, positioning us to advance to FEED studies and, in parallel, proceed to securing potential financial arrangements for on ground construction and development."

-ENDS-  

For further information on Oracle Power PLC, visit the Company's website at www.oraclepower.co.uk or contact:

Oracle Power PLC

Naheed Memon - CEO                                                                               +44 (0) 203 580 4314

Strand Hanson Limited (Nominated Adviser & Joint Broker)

Rory Murphy, Matthew Chandler, Rob Patrick                                      +44 (0) 20 7409 3494

Global Investment Strategy UK Limited (Joint Broker)                      +44 (0) 20 7048 9432

Samantha Esqulant

St Brides Partners Limited (Financial PR)                                              +44 (0) 20 7236 1177

Susie Geliher / Isabel de Salis                    

About F&M (Pvt.) Ltd

Founded in 2017, F&M (Pvt.) Ltd has become a leading provider of engineering, testing, and certification services. Offering NDT, API, building stability assessments, material testing, chemical & water testing, GAP analysis, ISO training, risk assessments, and national/international certification support, their experienced team adheres to international standards while delivering client-centric solutions for industries such as construction, oil & gas and manufacturing. With a commitment to following international codes and standards, quality, and integrity, they assist industries across Pakistan in achieving their goals.