logo-loader
viewOracle Power PLC

Oracle Power making progress on Thar paperwork

Oracle has paid an evaluation fee in respect of a provisional agreement with the government of Pakistan

Oracle Power PLC -

Oracle Power PLC (LON:ORCP) has said it continues to receive support for the development of its Thar project in Pakistan.

As announced in March, Oracle has submitted an application to the Private Power and Infrastructure Board for a letter of intent (LOI) on behalf of the consortium developing the project.

The issuance of the LOI will be a major step in the development of Thar Block VI and would confirm the Government of Pakistan's commitment to purchase power from Thar Block VI.

Oracle has now paid the US$50,000 evaluation fee that became due under the terms of the LOI and has received a payment of US$7,491 from Sheikh Ahmed Dalmook Al Maktoum’s private office in respect of the office’s share of the evaluation fee.

Oracle said the payment reinforced support of the project by the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum.

When the LOI is issued, further fees will become payable.

Quick facts: Oracle Power PLC

Price: 0.725 GBX

AIM:ORCP
Market: AIM
Market Cap: £14.35 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Oracle Power PLC named herein, including the promotion by the Company of Oracle Power PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Oracle Power forms agreement with largest shareholder to explore new...

Oracle Power PLC (LON:ORCP) CEO Naheem Memon tells Proactive the firm has inked an agreement with the private office of Sheikh Ahmed Dalmook Al Maktoum which will see them potentially partner and collaborate to explore potential mining opportunities in Africa. Memon says the partnership is a...

2 weeks, 2 days ago

2 min read