REG - Oracle Power PLC - Completion of Geotechnical Study & ER Survey

Oracle PowerAnnouncement

11/04/2024 07:00

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RNS Number : 0837K  Oracle Power PLC  11 April 2024

 

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 (http://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.

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