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Oracle Power’s Sheikh on the Make comes in handy again – yet another spoof & bailout placing

It is now two years since His Highness, Sheikh Ahmed Dalmook Al Maktoum, clambered aboard the jam-tomorrow joke that is Oracle Power (ORCP). News of the Sheikh's involvement saw its shares surge to 1.25p. Last December, he exercised 200 million warrants, meaning he now owns 500 million shares, for which he paid 0.25p each. But Oracle’s share price has flagged a bit of late, as investors have grown mightily tired of its jam-tomorrow coal and gold projects.

EPIC ORCP
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And today's ramp from David Lenigas is....

To be fair, shares in the company are up by 26% today at 0.43p on news that it has finalised and ended a death spiral. But any company that has to use a death spiral is likely to be shit and shares in this company are down by 39.06% over 1 year, 86.01% over 5 years and 96.65% since its IPO just over a decade ago. Truly a penny dreadful, just the sort of stock David Lenigas likes to ramp. Dave's dog de jour is ...

EPIC ORCP
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Consortium deal cheers Oracle Coalfields

Shahruck Khan, entrepreneurial chief executive officer of Oracle Coalfields (ORCP), says he is now ‘working towards financial closure’ for the company’s $1.5 billion (974 million) project to develop a potential 1.4billion-tonne lignite (brown coal) mine and 600-megawatt power station in south-eastern Pakistan, following a key consortium agreement with Shandong Electric Power Corporation (SEPCO) of China.

EPIC ORCP
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Oracle Coalfields – rally should continue based on the back of pricing deal

Shares in long-unfavoured Oracle Coalfields (ORCP) have been winning some new friends in the wake of acceptance by government of Pakistan’s Sindh province of the company’s pricing petition for its 1.4 billion tonne brown coal (lignite) project in the province’s Thar desert. Shahrukh Khan, entrepreneurial Chief executive officer of AIM-quoted Oracle, argues this acceptance, which will still needs federal ratification if the Sindh government approves, amounts to a ‘green light’ for the projected first phase of the project, which envisages producing four million tonnes a year to feed a 600-megawatt power station for the electricity-hungry region, at an initial price for the lignite of $76.48c (£49) a tonne, subject to later annual review.

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