profits ahead of last years.the company has 80% interest in a joint venture with china national petroleum corp(cnpc).market makers bought a lot of stock on friday followed by big buys on monday.profit taking on tues am then buyers back in pm.any views?

What about the 4 million pounds dividends to minority interests? Apparently convertible holders "waived" some interest, but did they "waive" goodbye to their money forever?

I don't really know anything about it, just picked up the buzz on ADVFN, but that is the point that made me hold back.

The company fortune oil are confident that the sale of bluesky aviation is going to happen by the end of july 2004 saying that it is purely a procedural matter. So what is next , when the sale goes through shareholders will get an amount of cash back , the company is financially stronger and it can concentrate on there core interests of the supply of natural gas to cities in china which looks pretty lucrative especially as more contracts are won for eventual conversion to natural gas from LNG. So far so good for fortune oil . The prospects for the company look strong .

regards

bowman

The countdown is on for the sale of Bluesky Aviation , in the next two weeks we should see the selling of this subsidiary of fortune oil. T noticed today people are beginning to latch on to fortune with a lot of buyers in below 6p , i can't see the price been that when Bluesky is sold, all the shrewdies are moving in to make a mint. What is my price target , my personal opinion is 9p.

regards

bowman

looks a very cheap stock right now.

Blresky which is a subsidiary of fortune oil looks like it will be sold for approxiametly 47 million this is a great deal for both fortune oil and china aviation oil with the deal going through in the next two weeks. Fortune will get approxiametly 60% higher price as the deal was funded mainly by shares and china aviation oil share price has risen that much since the deal was first struck and deal terms will not be changed. China Aviation are really pleased also as it gives them a 75%stake in south china bluesky aviation

regards

bowman

Not long to go now before the deal goes through on Bluesky, its looks a company making deal for fortune oil , it will help the company move forward rapidly in china.Shareholders won't do to bad either getting a dividend off the sale of Bluesky.

regards

bowman

the price went to approx. 9.5p on announcement of the bluesky deal when it was for 31m, and since then apart from the extra 60% on the deal , they`ve announced a JV deal, good solid results. i would be hoping for at least 12-15p at the end of this month.
dexter

Thanks for that info dexter , i tend to be a little reserved on price targets but that jv did look a great deal for fortune. I rate the management team highly at Fortune, i believe they are giong to bring this company forward with some purpose.

regards

bowman

Countdown is on folks , any day between now and the 30th july for the sale of southern china bluesky aviation , both companies want the deal to go through. Both are eagerly awaiting approval from china.The management team at Fortune have always been confident the deal will go through before july30th.

regards

bowman.

Agree with dexter.The original bluesky deal looks better and once the approval comes who knows how far it will go.

morning all

Another day goes by, we move a step closer to the Bluesky deal being approved,should be any day now.

regards

bowman

It will be very interesting to see how the market reacts to it when it is announced. Could be a little or hopefully.....................A LOT!

we have a guide from when the deal was first struck , it did go up to 9.5p on that occasion before it was put on hold.Let see what happens approval has to take place soon

regards

bowman

Won't it be in the price already? 9.5 was after recommendation in Investor's Chronicle and it didn't stay there long.

The sale of china bluesky aviation has not been approved yet so how can it be in the price ? Secondly when it is approved it will be worth a lot more because the deal involved china aviation oil shares which have gone up nicely and there for when it is approved fortune will get a lot more than the original value of the deal . Also those options they are entitlled to look very promising indeed .

Fortune Oil goes up nicely as we get closer to the approval of the sale of Blue sky aviation oil to china aviation oil. Look on thursday for any news.

regards bowman.

why thursday?

morning all,
is this bluesky approval just a formality?,if that is the case i would have expected the price to be a lot higher.i just don`t understand why,with the results being good and a new JV announced as well as the increase they are getting for bluesky there isn`t more of a move upwards.please someone tell me i am not missing something,it`s driving me to drink!!.
cheers,
dexter

market sentiment im afraid !! what shares are going up not a lot !! most of market is flat or trending down switch off the pc come back in a months time as fortune will go up but patience is req as in jkx was 10p now 1.20ish worth waiting for just a bit boring i must admit !!

Hi guys , it did appear something was about to happen with Fortune Oil after yesterdays rise. False dawn not to worry only a few days left in the month i can only reiterate Bluesky is purely procedural. China Aviation Oil having being saying all along that the Fortue oil stake in Bluesky is now theirs and both company's are very happy with the deal. Fortune have also said that this is a formality ,why jeopadise their reputation. When it does happen the share price looks set to rise and shareholders will get a slice of the deal in the form of a special dividend. The deal is worth a lot more than when originally on the table.

regards bowman

i wish they would hurry along with the bluesky aviation sale, its got to happen before the end of july so there is only a week to go now.

regards bowman

Price is creeping up.
Just be patient

Are we going to get the all important news of the sale of Bluesky aviation oil this week ??? Approval is due by end of july , so that narrows it down to this week . Shareholders will benefit by the sale as well as the company being able to concentrate on core holdings. Fortune Oil looks to have a bright future.

news is expected tomarrow after close of our trading times.tueseday will be all action

basharat,hope you are right.Where did you pick up this information ?

I think I see how this share dealing lark works now.The company doesn't release any news- so the price goes down on worries that there might be bad news to come. Then the company releases some good news-so the price goes down because-
(A)..Investors have previously factored any upcoming good news into the current price.
(B)..The news wasn't as good as investors had hoped it would be, so the good news that they had been factoring in was not as productive.
(C)..This month Jupiter is aligned with Mars.

morning basharat,
is this tuesday date for release informed or hopeful as it has dragged on for so long, i can`t find any recent info. anywhere, and i`ve spent hours looking!.please tell us where to look.
thanks ,dexter

UPDATED: 16:19, July 26, 2004
China's economy still full of vigor, interview

American corporations recently paid particular attention to the development of the Chinese economy. Will the economy have a "soft landing"? Should investment in China be slowed down or kept up? What are the points for attention while investing in China now? What are the prospects of the Chinese economy? Bearing these questions in mind, People's Daily correspondent in the United Nations interviewed Mr. Joe O'Mara, a partner of KPMG, the first international accounting firm that entered China.


No one doubts investment opportunities in China
Mr. O'Mara speaks standard Chinese fluently. A native of America, he can be counted as a half-Beijinger after living in the Chinese capital for more than a decade.

China is developing too fast, said O'Mara, and one simply can't know the tremendous changes of today compared with even two or three years ago if he is not a long-term worker there. In its recent survey on investing in China, KPMG sent detailed questionnaires to 100-odd European and American big corporations investing in China, and talked with them face-to-face. The result showed that these investors held almost the same opinion on the Chinese marketafter China's WTO accession, foreign direct investment will keep rising and coming to China for investment has become an international trend; China is still a huge market with its economy full of vigor, and no one doubts about business opportunities in the country.

Mr. O'Mara believes that the economic environment in China is unique and changing rapidly, so his biggest advice to those who want to invest in China is to learn modestly. For example, one needs to know China's special culture and inter-personal relationships. However, along with the development of marketization of China's economy and the gradual perfection of the legal system resulted from the country's enactment of many economic laws, one cannot rely completely on relations in making investment in China. O' Nara told many people who came to the firm for advice that American companies investing in China usually make two mistakes: One is because they don't understand the vastness of the Chinese market and regional differences, they focus their attention only on several big cities and thus often miss good opportunities for investing in other regions; second is they underestimate the competitiveness of local Chinese companies. Chinese entrepreneurs are noted for their spirit, which has been given full play since the start of reform and opening up two decades ago and has won praises even from Bill Gates. However, there are still big chances for investors to make money in China, that's why the country can attract so many foreign corporations.


From 50 to 4,000 working staff
O'Mara takes his personal experience in Beijing and KPMG's development in China as an example of the success of foreign firms. He came to China in 1992 when KPMG entered China with 50 staff members, the first of its kind in the country. At that time they could only serve foreign companies since China had not established its modern accounting system and laws in line with international standards. Later they helped the Ministry of Finance to formulate accounting laws and train personnel, as well as a modern accounting system in big banks and enterprisesuch as the Industrial and Commercial Bank of China, China Construction Bank and China Power Corporation. KPMG's own business also expanded when it set up offices in Shanghai, Guangzhou, Shenzhen and Foshan and its services also extended to accounting, taxation, consultation and auditing. Now half of KPMG's clients are Chinese firms. The success of KPMG is also a success of China, said O'Mara, adding it's a keen feeling of his after working many years here.

O'Mara thinks that KPMG has a promising future for its development in China. On one hand, the prospect for China' economic development is bright, he said, it is estimated that in the coming five years many large Chinese companies will enter the international market and become transnational corporations in petroleum, telecom and other high-tech fields. They need services from KPMG. On the other hand, China's resources of talents are getting richer and richer. He spoke highly of the quality of China's university graduates. He said that present graduates are able to start work after three-week training, whereas in 1995 they needed to receive three-month training, this helps his firm greatly reduce investment cost in the country. Currently KPMG has a total staff of 4,000 in Chinese inland and Hong Kong, 1,000 of them being enrolled this year. Furthermore, most KPMG's partners and managers in China are Chinese, with the number of partners alone approaching a hundred.

By People's Daily Online"
Unquote

basharat-what has this got to do with FTO? Who ever your source! is full of shite-stick to the facts or just wait for the news.

emailpat
I was thinking the same but it looks like basharat was spot on.Just read on another site a statement regarding fortune avaition updating details about the approval of the deal and minor changes.As basharat said "after hours Tuesday"

with regards to news on fortune oil,strange there is no rns.

Well,after reading the statement posted on the other sides bb it certainly slightly changes things and although they have agreed in principal it appears it has not been passed yet.Looks like it could have an impact on the shares but which way.

Acquisition Of The Entire Issued And Paid-Up Capital Of Fortune Aviation Holding Limited




Singapore, 27 July 2004 - Further to the Company's announcements dated 5 and 9 February 2004 on the above matter, the Directors of the Company wish to announce the following. Capitalized terms that are not otherwise defined in this announcement shall bear the meanings given to them in the earlier announcements.

(A) ADJUSTMENTS TO CONSIDERATION

Under the sale and purchase agreement (the "Sale and Purchase Agreement") dated 20 January 2004 and entered into between the Company and Fortune Aviation Holding Limited (the "Vendor"), the aggregate value of the consideration was RMB 441 million or S$ 91.88 million (based on an exchange rate of RMB 4.80 = S$ 1.00), to be satisfied by:-

(i) a cash payment by the Company to the Vendor of the sum of US$ 21.7 million (being the equivalent of approximately RMB 180 million based on an exchange rate of RMB 8.28 = US$ 1.00);

(ii) the issue and allotment by the Company to the Vendor of 37,760,000 new Shares in the Company at an issue price of S$ 1.33 per Consideration Share; and

(iii) the grant by the Company to the Vendor of an option (the "Option") to subscribe up to 26,000,000 new shares in the Company at a subscription price of S$ 1.60 per Option Share, pursuant to an option agreement to be agreed between the parties.

An option agreement (the "Option Agreement") was entered into between the Company and the Vendor on 26 March 2004 formalising the terms of the Option.

Under a letter agreement (the "Supplemental Agreement") dated 28 April 2004 between the Company and the Vendor, the Company and the Vendor agreed to adjust the Consideration to place the Vendor in the same economic position as if completion of the Acquisition took place on or before the record date for the dividends declared by the Company and the bonus issue (the "Bonus Issue") of 276,479,993 new Shares on the basis of 2 Shares for every 5 Shares held in the capital of the Company, both of which were announced on 29 February 2004.

As a result of the Supplemental Agreement, the aggregate value of the consideration was adjusted to RMB 447.34 million (or S$ 93.20 million, based on an exchange rate of RMB 4.80 = S$ 1.00), comprising:-

(i) a cash payment by the Company to the Vendor of the sum of US$ 21.7 million (being the equivalent of approximately RMB 180 million based on an exchange rate of RMB 8.28 = US$ 1.00) and an additional cash payment of S$ 1,321,600, based on the dividend of S$ 0.035 per Share declared and approved by Shareholders and the original number of 37,760,000 new Shares to be issued as Consideration Shares;

(ii) the issue and allotment of 52,864,000 new Shares as Consideration Shares (comprising the original 37,760,000 new Shares and an additional 15,104,000 new Shares) at the issue price of S$ 0.95 per Consideration Share, on the basis that an additional 276,479,999 new Shares were issued pursuant to the Bonus Issue; and

(iii) the adjustment of the Option to allow for the subscription of up to 36,400,000 new Shares at a revised subscription price of S$ 1.143 per Option Share.

The Consideration Shares, when allotted and issued, will rank pari passu in all respects with the existing Shares of the Company, except that they shall not rank for any rights, dividends, entitlements or other distributions the record date for which falls on or before the completion date pursuant to the Sale and Purchase Agreement.

The Option Shares, when allotted and issued, will rank pari passu in all respects with the existing Shares of the Company, except that they shall not rank for any rights, dividends, entitlements or other distributions the record date for which falls on or before the date of issue of such Option Shares.


(B) UPDATEs to the ILLUSTRATIVE FINANCIAL EFFECTS



The Company wishes to advise that the illustrative financial effects of the Acquisition as announced on 5 February 2004 were based on the audited financial statements of the Company and the Vendor for the financial year ended 31 December 2002. Subsequent to the earlier announcements, the Company undertook the Bonus Issue and released its audited accounts for the financial year ended 31 December 2003.

For illustrative purposes only, assuming the Acquisition was completed on 31 December 2003 and based on the audited accounts of the Company and the Vendor for the financial year ended 31 December 2003, the effect of the Acquisition on the net tangible assets of the CAO Group and the net tangible assets per Share (as adjusted to take into account the Bonus Issue) would have been as follows:-

http://www.listedcompany.com/ir/cao/newsroom/newsroom.cgi?action=view_news&id=148

Morning All , this deal just gets better by the day,i am sorry guys if i was Bruce Mcgowan vice chairman Fortune Oil i woild nave a big smile on my face today after the adjustments to the deal for the sale of Bluesky Aviation stake.

no of shares given to fortune as part of sale before adjustments 37,,760,000
no of shares given to fortune as part of sale after adjustments 52,860,000
no of options given to fortune as part of salw before asjustments26,000,000
no of options given to fortune as part of sale after adjustments 37,400,000
Fortune also been given a nice dividend payment.

Everything is looking bright and beautiful at Fortune were just waiting approval off the prc .

regards bowman

The Bluesky Aviation deal must be worth around 60 million , that values the rest of the company at just 27 million . Therefore the company must be undervalued after the deal goes through with core interests doing well and new joint ventures looking good money earners. Those options look very interesting as china aviation oil (singapore corp) looks a very progressive company and has quadrupled in price since float three yaars ago.Well i think there is some intersting things lie ahead for Fortune Oil

regards bowman

yeah , all good . but when?

hi all,
has the deal got to be completed by the end of july still?,everything looks so rosy i can`t understand why the price is`nt higher.they`ve had good results,fantastic deal with bluesky and a new JV deal,surely it`s got to rocket,has`nt it?
dexter

According to bloomberg Yukos problems would stop rail shipment to China. Would this not mean that FTO would benefit ?

I believe Dexter that the deal can carry on till approval is given by the chinese goverment and i am guessing that if we do not here anything in the next two days we will get an announcement off the company next week as to how far the approval process has gone. Fortune might be on a fast track in china, yet some how i don't think the chinese goverment approval board are .

regards bowman

it`s going right to the wire,let`s hope it`s worth it
dexter

Last business day!!!!

if the deal was`nt going to be finalised by the end of july should`nt fortune have put out an rns saying why and far the deal was down the line?.after all we are the shareholders and they do have a responsibilty to us.
a disgruntled dexter

The company will probably give shareholders an update in the weeek ahead as to what is happening.


bowman

bowman: you are sad!

...with sympathy....

update released. Presumably just a matter of time as it seems to on course.

Right on the button ,still going ahead but you guys may recall i did say recently that the chinese approval commission were a bit on the slow side and i did say todays statement would come out. Seine you piece of crap stick this up your arse.

regards bowman

Fortune Oil PLC
02 August 2004


2 AUGUST 2004

FORTUNE OIL PLC ('Fortune' or 'the Company')

UPDATE ON BLUESKY DISPOSAL

Earlier this year, Fortune Oil announced the proposed disposal (the 'Bluesky
Disposal') of Fortune Aviation Holding Limited, which owns a 24.5 per cent.
interest in South China Bluesky Aviation Oil Co Limited, to China Aviation Oil
(Singapore) Corporation Ltd ('CAO').

At Fortune Oil's Annual General Meeting on 25 June 2004, it was stated that the
Company continued to monitor the approval process in relation to the Bluesky
Disposal by the State-Owned Assets Supervision and Administration Commission of
China ('the Commission') (a necessary condition of the Bluesky Disposal) but
that completion was expected by the end of July.

On 27 July 2004, CAO announced that the Singapore Stock Exchange had given its
approval in principle for the listing of and quotation for the new shares in CAO
to be issued to Fortune Oil under the terms of the Bluesky Disposal.

Fortune Oil today announces that the approval process by the Commission has
taken longer than had originally been anticipated. The Company continues to
monitor the approval process in relation to the Bluesky Disposal by the
Commission on a day-to-day basis and looks forward to announcing the completion
of the Bluesky Disposal as soon as the necessary approvals have been obtained.

Fortune Oil has agreed with CAO an extension of the date for fulfilment of this
final outstanding condition in regard to the Bluesky Disposal.

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

Oriel Securities Limited Tel: 020 7710 7600
Simon Bragg
Natalie Fortescue

ICIS Limited Tel: 020 7628 1114
Archie Berens or 07802 442 486




This information is provided by RNS
The company news service from the London Stock Exchange

Thanks for putting this info up Andy .

regards bowman


r

looks like its a case of the chinese wanting to do business, but only on their time scale . feels like they wont be pushed into keeping to schedules.

Some big purchases today, any rumbles of an update regarding the sale of Bluesky Aviation or am I being too optimistic? This deal just drags on and on.

hello jason , doesnt it just!!! still , it makes life a touch more interesting.

bosley, it's like waiting for Christmas, lets just hope we get the surprise we are all expecting! Im off on my hols next week so you can be pretty sure that's when all the action will start if my current run of luck is anything to go by! Good luck to everyone!!

does anyone have any news or views as to when this deal will be completed?.i`ve been trying to find something /anything on the web but i can`t.it`s nearly 2 weeks past the original dealine.
cheers,
dexter

Have you tried e.mailing / phoning the company or its broker?

Are you famiiar with the lobbying dexter well that's what is now happening in china . Fortune oil have advisors and lawyers working on this deal for them and i know for a fact the company want this concluded ASAP. Remember the deal is not taking place in the uk this is china we are talking about, different system.

regards bowman

Are you famiiar with the lobbying dexter well that's what is now happening in china . Fortune oil have advisors and lawyers working on this deal for them and i know for a fact the company want this concluded ASAP. Remember the deal is not taking place in the uk this is china we are talking about, different system.

regards bowman

From the half year results statetment of CAO

CAO's agreement with Fortune Oil Plc to acquire its interests in South China Bluesky Aviation Oil Company ("Bluesky") and Fortune Aviation Holding Ltd awaits approval by China's State Council, buyer and seller having completed all transaction details. It is expected the contribution from this 24.5% stake in Bluesky will begin shortly.

http://www.listedcompany.com/ir/cao/newsroom/newsroom.cgi?action=view_news&id=160&

morning all,
does anyone know the e-mail address for fortune or their broker?
thanks,
dexter

Barclays is showing it as info@fortuneoil.co.uk seems more like a web page than an e-mail address but thats what they say it is. Telephone number 0207 589 2233, Fax 0207 589 7755.

Advisor Capita Rgeistars Plc Tel 0208 162 3100

Fortune Oil PLC
Contact Details


HEAD OFFICE:
Suite 3406, 34th Floor
Office Tower, Convention Plaza
Harbour Road, Wanchai
Hong Kong

Tel: (852) 2803 8300
Tlx: 68749 KLPHX
Fax: (852) 2802 8322
REGISTERED OFFICE:
4th Floor, Bowater House East
68 Knightsbridge
London
SW1X 7LJ

Tel: (020) 7589 2233
Fax: (020) 7589 7755
email : info@fortuneoil.co.uk


12th August 2004

any news about Bluesky?

no news is a good news i believe

Let's hope the Bluesky deal is coming up soon...Basharat.

Extract from the Independent today.


FTSE All-Change
By Stephen Foley
23 August 2004


The fund managers backing MOS have taken heart from the performance of the bigger oil industry services company Sondex, which makes drilling tools and software and whose shares have jumped 50 per cent this year. As a result, Sondex is a leading contender to win a place back in the FTSE All-Share index when it is reshuffled next month. Because many tracker funds use the All-Share, and many more benchmark performance against that index, there is often a burst of buying interest in new entrants. Also on the list to make an entrance are the nuclear generator British Energy and Fortune Oil, which is making oil and gas investments in China.

Any bets on FTO having a RNS before September? Was hoping the price was going to break out of the 7p mark this week but it looks like we will have to wait for more news.

I personally think we'll do well to stay in the 6 - 6.5p range whilst waiting for this deal to be closed.
It tends to drift down quite a lot, what did we get down to recently 5p ? That's a ruddy large drift.

Cheeks

I agree , I think Bluesky is a holding factor.However some news on there progress into their China supply lines would be very welcome.We certainly know there is plenty of demand for increased energy supply in China

hi all. its been a while. and still no news. starting to get impatient. i know its taking place in china and that things are different , but , i am never happy when people say one thing and then it doesnt happen. this is dragging out far too long.anybody have any idea of what the delay is as

shioyong - 12 Aug'04 - 23:11 - 58 of 68


From the half year results statetment of CAO

CAO's agreement with Fortune Oil Plc to acquire its interests in South China Bluesky Aviation Oil Company ("Bluesky") and Fortune Aviation Holding Ltd awaits approval by China's State Council, buyer and seller having completed all transaction details. It is expected the contribution from this 24.5% stake in Bluesky will begin shortly.

this was posted nearly a month ago .if all transaction details have been completed , whats the hold up?????

I share your frustration, and believe this is now holding the share price back

looking for a rns soon i see regular 500000 tho trades been going thr ,if its 1 person they have purchased/sold approx 5 mill

i think next news of any significance is going to be announced with results ,due end of this month

basharat. is that for certain? end of the month for results?

i believe its next week, check it on hemscot

This could be "interesting".Like the company but this Bluesky thing still hangs over the share price

6.5p today

this was posted by pixel on the iii bb

pixel8tor 22sept04 12:02

Hi,

I have had a response from FTO re: date for interims and progression of Blusesky.


28 September 2004.

The Company is still awaiting the approval from the State-Owned Assets Supervision and Administration Commission of China.

Pixel8

slmchow-interims 28/09/2004-where did you get date from? not in forward diary!

anyone know when results are out?

FORTUNE OIL PROFIT UP 29%

LONDON (AFX) - Fortune Oil PLC, which invests in oil and gas infrastructure projects and oil trading activities in China, said its interim pretax profit jumped 29 pct as all group operations achieved profitability.

Pretax profit in the six months to end June 2004 surged to 3.1 mln stg, or 0.08 pence a share, from 2.4 mln stg, or 0.04 pence a share, in the year-earlier period.

'This has been one of the most successful trading periods in Fortune Oil's history,' said executive vice chairman Bruce McGowan.

There was increased profitability in almost all the group's operations, including a return to profit by its Zhanjiang Fu Duo LPG joint venture.

'We are benefiting from the rapid development of the Chinese economy and the consequent growth in demand for energy,' said McGowan.

First-half sales jumped 28 pct to 58.5 mln stg despite a 14 pct decline in the US dollar against the pound during the year. Volume throughputs increased for most of its operations, reflecting the increasing demand for oil and gas in China.

'We will continue to focus on developing our natural gas business but we also expect other opportunities to arise in the oil sector as China's markets gradually open up,' said McGowan.

In early 2004, the company accepted an offer to sell its 24.5 pct interest in Bluesky to China Aviation Oil (Singapore) Corp Ltd (CAO). While the approval process has taken longer than expected, the company said it is satisfied that it has sufficient available funding, or access to funding, for its planned and new investment programme.

newsdesk@afxnews.com

very good results , even without the blue sky disposal . might even be a long term hold this one!!!

There's plenty of comment on the ADVFN fto thread.

More to come in this one with further press comment on assessment of results and blue sky disposal.Sitting on a good profit but not selling.

gardyne,

I agree, I'm holding, results are good, potential for more to come, and I think FTO will produce a decent profit in time.

I thought their longer term ambitions as suppliers of gas to the rapidly expanding Chana market was very interesting. It good to see it move in the right direction, as it starts to build a nice comfort zone into the share price above my original buy price

Nice comfort zone so dont sell

solid blue on the screen poor guy bought 162000 at 8.25p and 8 buy transactions later someoune bought 10000 at 7.88p!!!! God I would be pissed off if i was that guy!
It really makes you feel that they are out to lunch! Or perhaps they should have stayed at lunch

Offer 7.75 Bid 7.55 through Comdirect just now on 10000. Just going to lunch.
If I make it a long one will it be cheaper later ?????

willfagg, the poor guy won't be poor for too long, soon FTO will shoot beyond the price he bought...

FTO still looking good, 8p on the way i think

Sadly the chart is looking a tad negative, we may have to wait a little longer for 8p IMHO.

announcement of gas supply more good news

This is the sought of stuff we were loking for!They have so much going for them , the Bluesky thing should not really be an issue. Its like the cloud that has hung over them has been lifted and perhaps their real value will be noticed

LONDON (AFX) - Modest early progress was seen in Fortune Oil after the company disclosed it has started supplying liquefied natural gas to the city of Qufu in China's Shandong province.
As a result, the city's gas network is now distributing natural gas instead of LPG to the city's residents, it said.

The LNG is delivered by road tanker to the city from a gas liquefaction plant at Sinopec's Zhongyuan oil field at the Henan province.

Fortune Oil shares were 0.50 up at 7.75 pence by 7.37 am.

You imagine: If they have 100,000 houses using LNG and lets say they use $200 per year that is $20,000,000 revenue, 50% for FTO (joint deal) say $10,000,000 per year revenue for FTO. If this leaves 50% profit, we have $5,000,000 profit for FTO...FTO Pretax interim profit the last 6 months was - 3.13 mln stg......this development can potentially give us another 3m profit for the year....work out for yourselves the effect on sp.

Here is the RNS.
==================

Fortune Oil PLC
12 October 2004

12 OCTOBER 2004

FORTUNE OIL PLC
('Fortune Oil')

SUPPLY OF LIQUEFIED NATURAL GAS TO QUFU

Fortune Oil is pleased to announce that one of its subsidiary companies,
Qufu Fuhua Gas, recently started supplying Liquefied Natural Gas ('LNG') to the
historic city of Qufu, Shandong Province. As a result, the city gas network is
now distributing natural gas instead of LPG to the city's residents. The LNG is
delivered by road tanker to the city from a gas liquefaction plant at Sinopec's
Zhongyuan Oil Field, Henan Province.

Fortune Oil's Executive Vice Chairman, Bruce McGowan, commented:

'We believe this is the first time that a foreign controlled company has
supplied LNG to a city in China. LNG is an ideal means of supplying clean fuel
to China's cities while a pipeline infrastructure is still under construction.
We now expect Qufu's consumption of piped gas to grow rapidly as more
connections are made.

'In June this year we established our city gas joint venture with Qufu Gas
Company and we made a commitment to provide natural gas to the city. We are
very pleased that, within only four months, we have designed and installed LNG
receiving equipment and have converted the city from LPG to natural gas.'

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

ICIS Limited Tel: 020 7651 8688
Archie Berens or 07802 442 486




This information is provided by RNS
The company news service from the London Stock Exchange

this is one of only a few stocks i hold that have been a good buy ,dont khow when to take the profit???????????????????????? brought at 1.75 .

If you are in any doubt then sell enough of your holding to give yu say a 100% profit and run the rest

without using a calculator I would guess you could sell about 25% to get back double the outlay

what is the downside to that

If they continue upwards you will still have a large % of your original 'punt' and so what if you miss out on any further gains on only 25%

of course if want to be onboard for the ride then stay with it

good luck

whats going on with the bluesky sale and also the price?????

Recommended by Shares Magazine - 21/10/2004

Opportunities continue to flood Fortune's way as the Chinese market opens up. It also mentioned about the increased sales due to energy boom in China.

Fortune oil soon to reach 10p

10p cannot come soon enough!

It has risen today - 7.625p

CAO had 0 share trading on the 20th October (were they suspended ?) and an announcement of 15% share placing on the 21st. If you remember the Bluesky sale announcement, it said that completion would take place 7 business days after the final condition was fulfilled.
A theory that is being thought at the moment (see the advfn thread) is that the some of the extra shares in CAO that were placed could have been for FTO (who are getting 37million as part of the Bluesky sale). If that is the case, then 7 business days from the announcement of the placing of these shares, is tomorrow.

Therefore, will there be an RNS tomorrow regarding the completion of the Bluesky sale ?

Any thoughts here ?

Regards & good fortune.

Cliffs

That may be the case...maybe buy today then.

Well it is said on another BB that the 7th working day is on Monday time will tell even more so if if friday is high volume

HT.

How does this one compare to SEY-it seems much cheaper? I have watched it for a while.

beginning to creep up slowly 2 bigger trades gone tho today looks like buys

Disappointing end to the day. Can't seem to break the 8p barrier.

yeah news flow is req im afraid

What happened to the blue sky disposal? When was that meant to happen again?

in july but red tape has held things up thats why share price is in limbo patience is req on this one !!

Bounce back to Monday's end price - very frustrating and confusing holding this one...

Whahey, 8p at last.

Next stop?

Anyone care to guess?

8p indeed - always good to tempt fate in a positive manner!

heading up again tomorrow to 9p

or heading back down to 7.5 ?

Cheer up guys!

Just look at that chart.......

I'll believe it when it happens...

Have to wait for news or good results.

Been waiting a while now...

Agreed. But China is growing fast. Lets hope they take advantage.

China will be the biggest economy in no time...

when is the sale of bleusky ever going to happen???????????????????????

llewellyn,

soon hopefully!

I know how you feel, every time we hit 8p, it rebounds.

Originally, many years ago, I bought in at 8p, when FTO was a fashionable stock, being widely tipped by the media, and my theory is that there are loads of people with shares bought at the 8p level, and so as soon as we hit 8p, they sell to recoup their initial investment.

I could be totally wrong of course, but it does seem a coincedence that resistance is 8p.

This is purgatory waiting for it to break through 8p. Every day that goes by and it doesn't is excruciating!!

beasties,

It sure is!

Enormous resistance at 8p, always seems to bring out the sellers, but I think once Bluesky goes through, we will breach the 8p barrier.

But when is the sky going to turn blue?! It seems as though the sky has been every colour of the rainbow except blue for FTO for months now. The deal was supposed to be June but we're now in November and Santa's little helpers are working overtime up North. Lets hope FTO can give us a little lift in our stockings this year!

It surely can't reach the end of the week and NOT have pierced the glass ceiling can it? The chart says it absolutely cannot refuse to go through 8p at the start of next week.............

nice 1mil trade gone tho looks like def buy !!

Agree heading through 8p barrier.

we have been waiting for to long ???????????????i beleive that it aint going to happen?????? if it was good it would of happen by now!!!!!

Llewelyn,

Another frustrating day for FTO holders!

I do feel that IF we can breach 8p, 10p will come quickly, as all the 8p sellers will be out, and that is a considerable overhang from years ago IMHO.

looking weak last 10 days. could do with some news!

Has anyone asked the company what is happening with the blue sky deal? Or are they hoping we have forgotten about it. That tying up should shove this past the 10p mark and maybe we could get some momentum going.

maybe i should get out has i brought at 1.75p????????????

not if you only bought 5 shares Llew

i brought 55,000 at 1.75p???? i think i should get out now???????????????????

After 5 months waiting for this "windfall", I got fed up waiting! I Sold my holding of 17000 today for a tiny profit. Best of luck to all who have greater patience than myself.

llew,
sell 15k and make a nominal profit. you are then playing with somebody else`s money!!

llew,
sell 15k and make a nominal profit. you are then playing with somebody else`s money!!

llew,
sell 15k and make a nominal profit. you are then playing with somebody else`s money!!

i think snakey you are right however i have invested 37 k in the stock market and have not made any gains apart from fortune oil ??????????????? my guess is that if i hold on abit longer ,i might make some real profit with this company has i am down most of my investment??????????????????????????

Flippin heck Llewellyn, who's giving you tips? Numpies-R-Us???!!!

The last couple of months there's been some absolutely cracking punts. We've all got disaster stories and shares that we hang onto until way beyond the point of reason, but you learn by your mistakes and hopefully get better at it.....

I've held these for months and months, topping up along the way, and it does seem a purgatorial wait at the mo for it to break through the 8p barrier. But I'm holding my nerve unless it breaks down decisively at which point I'll probably sell half to protect my original stake, and await further developments.

If you don't mind me askin, what other shares are you in? I'm a bit baffled as to how you are only up with one share out of your portfolio......
;(

llew, if you sell some now and keep 40k, you can never lose on this one as it ain`t your money.play the sensible game,either make free shares when they rise, as is the way with some stock, or cash some in and hold the rest for nothing.
there are no guarantees in this business, so capitalise whenever you can.
good luck etc

Emailed FTO yesterday regarding bluesky deal, response was typically ambiguous and reflective of lengthy bureaucratic analysis by chinese govt.-
'We regret that the exact timing of the consideration of the authorities in
Beijing is beyond our control and impossible to forecast. We will make
announcements when significant news is obtained.

Regards
Fortune Oil PLC '

Well we're obviously looking way into 2005 if not beyond. If there was anything remotely imminent the message would have had a more optimistic tone. If they are now waiting for news, rather than completion it may never happen.

Has anyone else read the recent news on the Bluesky deal. Its under EPIC FTO dated 30/11/2004.

Not sure how it sounds!!!!!!

well i think price went up one spot on the news so i think it was taken as a resounding ...ok i suppose

Will,

Well we're back to the 8p strong resistance point again!

It will be interesting to see whether we retrace as has consistently happened when we reach this point, or whether we can finally breach 8p, in which case that would indicate to me the overhang of sellers at the 8p level is finally over.

i agree, i still think the bluesky thing is not the biggest influence. FTO are supplying energy into the largest growing economy in the world. They are currently working three day weeks in a lot of areas due to no power. They are addressing both the oil and gas marketplace.This is the reason i bought FTO, that is for exposure to China with a company that looked well positioned. Incidentally I personally do not like the look of most potential investments in China.

The bluesky deal is not the biggest influence, however, if they announced the bluesky deal had fallen through the shared price would not remain at it current price thats for curtain. It would for sure drop by some margin.

The over all picture with its ventures in oil and gas is worth staying around for.

Well, by my reckoning, it absolutely MUST break through 8p by about the end of next week. Otherwise the strong trend line will be broken and then it's time to take stock.........

I need this one to come good cos I've had a shocking week; PRE,PCI,HNR,ROC,PMO.
Hmmm, spot a theme there anyone?
What a whingeing git!!!!

Good luck next week peeps.

Beasties,

Yes that was a bad week for most of us I think!

I Sympathize with Beasties and all others who have been hammered this week on oil, gas, etc stocks.I to have taken a hit on Pan Andean, i read an article last weekend ,i believe, saying that Evil Knevil was buying PRE , due to a supposed good drilling report.Look what happened!!!.
I have held FTO for approx 6 months bought 10000 at 6.05p, i think the company has a great future, the results were amazing.Full year results should be awesome. Just amazes me that companies like Asian Energy can rocket from 75p ish, to over 5 in a couple of months.

Good luck all. Here`s to staying over 8p on monday.

Cosworth1,

No copmparison I'm afraid, Asian Energy have just discovered enormous coal resources in Bangladesh, that's why their price has rocketed.

Andy,

I appreciate that, but production won`t be starting for many years, and funding looks to be there next problem. Regards.

Cosworth1,

With the deposits they are reputed to have discovered, I doubt funding will be much of a problem to be honest.

I believe they are going to try and fast track production, maybe starting in 2006.

I don't hold, but consider them a decent bet.

Is this it then? Seems to be holding above 8p at the mo.......

Looks like it,long time coming.

I'll reserve judgement til the close of play if it's all the same. Seen this before, only to close back where it started. If it stays up, tomorrow might be the time to top up.

Great news....

Fortune Oil takes controlling stake in jv for natural gas in Beijing suburb
AFX


LONDON (AFX) - Fortune Oil PLC said it is expanding its compressed natural gas (CNG) business in the Beijing area and has agreed to take a controlling stake in a new joint venture formed to supply natural gas to the suburb of Huairou.

In addition, the Fu Hua subsidiary has begun operating a CNG station at Dagang near Tianjin and has commenced construction of a major CNG station at Tongzhou in Beijing.

The new joint venture, Beijing Fu Hua Dadi Gas Company, will be owned 35 pct by Fu Hua (an 80 pct subsidiary of the company), 25 pct by Fortune Gas Development (a 100 pct subsidiary) and 40 pct by Beijing Dadi Gas Construction Co (the current operator).

The company's investment in the projects will total 4.6 mln stg over the next few months and the board said it expects that the combined effect will be earnings enhancing in 2005.

newsdesk@afxnews.com

hyleo98,

yes that looks like decent news, and a little unexpected too.


Besties,

The BID is now 8p!

That has been a long time in coming, and IF we can hold at this point it may indicate the last of the 8p overhang has been cleared.

Andy
I'm watching this closely because if we see some strength in the next day or two the sp could start to motor. Everything crossed. Got my scalpel out looking for some dead flesh in my portfolio (shouldn't be too hard!) for a top-up.

Looking good........

Bit mystified by the trades that have gone through today though. Mainly sells vs buys according to the MoneyAM trade page on here. And yet the price goes up???

And looking good again today. Could this be the corner finally turned, and without the Blue Sky deal?

Fingers, toes, eyes, everything crossed!!

This is a great buy

Besties, Queen1

Well we held at over 8p BID, so maybe FTO really have turned the corner?

Next week will tell IMHO, I would like to see 9p mid hold, the chart is looking really nice!

Wow, what an exciting day!
Not.
Was it the MM's Xmas bash today???

Andy, let's hope that it is a corner rather than a circle taking us back down to 6p! Sorry, not very festive is it?! What I meant to say was, "Go, Go FTO, 10p by Xmas, don't you know!"

Here we go. At last.

Very nice to see this finally break through the 8p resistance and now straight through the 9p, lets hope it holds its own tomorrow.

Would rather it just edged up in a stately fashion. Much better for the nerves than the sky-rocket effect.

Besties,

What a day!

Let's not complain about "sky rockets" when it pertains to FTO please!

Chart looks nice and steady actually.

Andy we all know what happens to sky-rockets eventually!!

Not really complaining cos that chart looks pretty solid. Bit nervous at the mo tho cos I'm a PET-watcher and TLT looks poised on a knife-edge after a long time rise. Had some nasty fallers lately; PRE,PCI,ROC,HNR,Grrrrrr.

Besties,

Well another good day for FTO!

9.25 to SELL!

I would like to see 10p mid now, to ensure no double top, see the chart above.

With regard to your 0other shares, PRE again failed to deliver after promising so much, and you were unlucky with PCI, although I think they will come good in time.

HNR I hold too, and still believe they will regain their former highs once they report a decent bit of news. They really do have some promising exploration sites around the world, I'm sure we'll be ok there in the end.

C'mon you beauty!!

this is going places, this has got the makings of a pay your morgage off share !! if you can hold yr nerve

Forgive the intrusion - a novice here who reads this thread and has a small holding in FTO - what is the significance of the 14 million shares traded with a zero time stamp please??

bhunt, good question. Don't have the answer unfortunately. One thing I have learnt is that there are trades that have delayed reporting, and there are trades that show as buys on here that are actually sells, and vice versa. This makes up or down movements in sp seem strange if you accept these trades as they are reported on here. The only way to gauge what is actually going on is to look at the direction of the share price as this will generally provide the true picture of what is going on.

The 14m trades that you're referring to are bang on the mid price at the time they have popped up on here, which is why they are shown as ? trades. Can't help you with the significance of the 00:00 time stamp tho.

The up turn on these shares are related to the recent good news or is something happeneing with the Blue Sky deal that we have yet to hear about ourselfs?

Agree something going on behind the scenes.

Thanks for the info Beasties

Fortune Oil PLC
17 December 2004


17 DECEMBER 2004
FORTUNE OIL PLC
('Fortune Oil' or 'The Company')

PLACING OF 47,713,467 SHARES TO DEUTSCHE BANK AG LONDON
TO RAISE 4,389,639

The Directors of Fortune Oil are pleased to announce that the Company has placed
47,713,467 new ordinary shares on behalf of the Company with Deutsche Bank AG
London.

The new shares were placed at a price of 9.2 pence each to raise 4,389,639.
Following the placing, the new shares will represent 2.60% of the Company's
issued share capital.

Additionally, Deutsche Bank AG London has been granted an option to acquire
23,856,733 new ordinary shares of the Company. The option is exercisable at a
price of 9.2 pence per share and expires on 16th December 2005. The option has
a price reset provision which provides for the option exercise price to be
reset to the lower of 9.2 pence per share (subject to adjustment to reflect
changes in the share capital of the Company) and the average of the closing
prices of the Company's shares on 12th,13th and 14th January 2005 subject to a
minimum price of 9.0 pence. If exercised at this minimum price the exercise of
the options would raise an additional 2,147,106.

The placing is conditional on, inter alia, the admission of the new ordinary
shares to the Official List of the UK Listing Authority and to trading on the
London Stock Exchange's market for listed securities becoming effective by 8.00
am on 22nd December 2004 (or by such later time and date as Deutsche Bank and
the Company may agree). It is also conditional on the Subscription Agreement
dated 17th December 2004 between Deutsche Bank and the Company not being
terminated prior to such date.

Application will today be made to the London Stock Exchange and the UK Listing
Authority for the new shares to be admitted to the Official List.

Bruce McGowan, Executive Vice Chairman of Fortune Oil, commented:

'We are very pleased to have raised these new funds, which will strengthen our
ability to make further investments in the fast growing Chinese natural gas
market.'

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

ICIS Limited Tel: 020 7651 8688
Archie Berens or 07802 442 486

very quiet on this thread as this has become a very exciting opening for making some serious cash now underpinned by the bank at 9.2p this is on its way slowly but a dead cert as much as one can say ,but theres always the unknown !!

Well the news on the placing would explain the pullback today. It's not dipped too much so it looks like a nice amount of strength here.

Expect a few days of mincing about and then hold on for the ride....

DYOR,etc!!! (for you kellman!!)

2xmill buys gone thro someones still topping up

I WOULD HOPE IT WOULD NOT EFFECT THE PRICE MUCH AS THIS MONEY IS TO DEVELOP THE BUSINESS FURTHER AND THE CURRENT SUPPORT THEY HAVE ENJOYED SUGGESTS EVERYONE IS BEHIUND THEIR STRATEGY FOR EXPANSION.sorry about caps

i would expect more inst to get on board now as the bank has now given it the go head to do what ever their plans are which they must know about so i think its just sit tight and enjoy the ride next year

biffa,

I agree, FTO should hover around the 9p mark now, shareprices often retrace to a placing price, which FTO has already done.

Hopefully FTO will base build from here, until the next news arrives.

Andy,I am hopeful we will move on from the placing price rather than hover because not only institutions have got this one in its sights but fto will give further updates on natural gas deals and on bluesky sooner than later judjing by share volumes

gardyne,

Well I hope you're right!

I'm still holding, I feel China and gas may be a real opportunity for them, right time right place IMHO.

Aboslutely Andy, remember even Warren said China is the place to be. The lastest DB deal underpins this price. Apart from that banks dont do deals that wont make them money. For me, THEY are looking at a handsome return. I am very long on this and cant say it's for my pension like Biffa (maybe he is older than me....lol) But it could certainly buy me a very nice house.

Only question I have is over the timescales the sp will increase over. I think double in a year.

Good to see others positive and are longtermers.It seems this share is very popular for pensions.Anyway lets sit back and wait for next development.

gardyne,

Agreed.

held well today, and quite a bit of volume too!

i am sitting on this one has i think china is the place to be !!!!!!!!!!!!!!!!

nice to see people are starting to take notice i did tip jkx and look at that i bought 20p and made a nice bundle then watched it double again so not going to do that again with this one ,this is going to make us rich but patience is reqed

biffa18,

Superb profit on JKX, well done!
I got in at 37p, and further along as it rose.


I agree FTO requires patience, slow and steady is fine by me.

Well soon 2005 and this share is going to make me a tad richer this coming year !!

Something I "filched" from across the road.
I have just read a statement from China Aviation's Parent Company regarding a new contract signed with Bluesky regarding the purchase of Jet Fuel.
Unfortunately it is in Acrobat format so I could not copy & paste !!!!
I would suggest interested parties search under China Aviation.
The Date the information was released was the 21/Dec.so is up to date info.IMHO.
Regards

regards

teletigger, you can still copy and paste by select text on .pdf file and use Ctrl+C to copy and use Ctrl+V to paste...

Seine,

Thanks for that.


teletigger,

Any chance you could try Seine's method, and paste here please?

This is certainly a share to put in your back pocket and keep for the longer term, with so much positive news and potential for this company I cannot understand anyone that is waiting for the share to rise a couple of pence so they can sell?

I have many shares in my protfolio for which I am awaiting a slight increase in the share price so that I can take the money and run but this is definately not one of them, FTO is in the right place at the right time, Im in for the long term on this one, this is the sort of share we have all had dreams about, dont sell your dreams guys hold on to them and watch them turn into reality.

healthy,

Totally agree, not one to trade, but to hold, IMHO.

level 2 ...6/1
9/10 except evo..... they do seem to work in funny ways

http://www.listedcompany.com/ir/cao/newsroom/CAOTUpdate21Dec04.pdf
cut and paste into your browser

came across this holdings etc does anyone know if these figures are still pretty much up to date
First Level Hldgs Ltd 27.83%(dup A), HSBC Global Custody Noms 5.46%, Vitol Energy (Bermuda) Ltd 5.08%, JTC Trustees Ltd 4.2%, D T Chiu 32.74%(dup A), D T Chiu 32.74%(dup A), Other Dirs 0.83%
First Level Hldgs Ltd 27.83%(dup A), Vitol Energy (Bermuda) Ltd 5.08%, JTC Trustees Ltd 4.20%, D T Chiu 32.74%(dup A), D T Chiu 32.74%(dup A), Other Dirs 0.82%.
and of course the recent
47,713,467 SHARES TO DEUTSCHE BANK
Not bad reading by any means !!

l2 2/2 could be a tick down on the way

Looking forward to seeing this share tipped in the papers for 2005.

couple of fair size buys went thr yesterday ,l2 looking a bit weak but not much more than expected considering today
Happy new year to fto holders and may we be rich/richer next year !!

well fto holders, wonder if we will get a new yrs rns about the latest Blue Sky situation i would think the bank must be aware of latest situation and be quite happy as they went ahead with purchase of 47mill shares , so must be good news on the way ,just when is the big ?

Well I think IMHO this could be entering a real milestone phase in this shares life. Looks like the charts point to 15p if we can break 10p. This wont be easy to break but my gut feeling is that within three months time we will be sat at 15p. An RNS is more likely to come Biffa18 ref what is to be done with the raised last month. I would imagine another deal or extension of an existing deal has already been struck. People are obviously confident this will prove to be a winner.IMHO

well we have started the year a bit poorer not a good start

Biffa18,

Of course we may have some retracement but this is building the strength needed to push for higher gains. Dropping the bid today looked like it was an MM ploy to flush out sellers. Offer held firm. Other boards are suggesting the 2*750000k buys were not rollovers but MAYBE someone trying to disguise 2 buys. Not sure if that is true but foor for thought. All the sells were again 'gobbbled up'. HHmmmmmmmmm....interesting.

UKB,

Back up this morning, you may well be right!

Well looks like that large late trade was negociated at a lower price too. I think more news to come soon. Things will likely stay at this level until until after the 15th Jan, once the DB business is out of the way. News could follow......and a hike in the share price. I'm considering buying more if under 9p Cant see it going any lower than this.

FTO has held at the same price since 11am this morning. Could they be waiting for some information before anything moves on!!!!

I am probably missing the point goss but is there some particular information you are expecting?

Not really willagg, its just that these shares are so up and down that it makes a change to see the top price for the day hold for so long. Just hoping that this share come good with the Blue Sky deal.

Goss,

Im not sure about you but I really see this share not as a hope but a nailed on certainty to go somewhere this year. Im looking for MIN 15p by the end of the year.

I hate a nailed on certainty...............Did i really just say that!!!!I think the Bluesky thing is becoming more erroneous to the share price as time goes by. China has a huge problem with a lack of energy and FTO are addressing both oil and gas supplies into the region. Even if they screw it up they could not be in a better market or geographical position where there is an amazing level of demand.

What chances a Chinese bid then ?

good point!This feels like a well run business. I hope they jusy keep on going , I have a very jaundiced view about takovers and acquisitions as they frequently dilute the share price for a long time.Organic groth is always the best to improve the value, profitability and the share price. IMO This could be one to make strong growth over a long period.

will,

Yep i go for organic growth with FTO, we will have a good year i think!!!

I reckon 15p by year-end 2005.

15p is very realistic I think although I think we could be looking at a little bit more than that too.

The bank has dumped but to who ....in this period of time has 123 mil shares been traded does anyone know ...so whatever has happened they must have been passed on to another party , and they didnt get them for nothing so obv thought they were worth buying, also have they sold all or just gone below the 3% mark interesting times ahead and they have a option to buy another 24mil sounds like someone stocking up but who.... or a party who wants a concilidation of the share total

Fortune Oil PLC
10 January 2005


10 January 2004

FORTUNE OIL PLC
('Fortune Oil' or 'the Company')

Holding in Company


Fortune Oil plc ('the Company') was notified on 21 December 2004 that Deutsche
Bank AG and its subsidiary companies were interested in 76,595,993 ordinary
shares of 1p each in the capital of the Company ('Ordinary Shares') representing
4.18% of the then issued share capital of the Company. On 22 December 2004 the
placing of 47,713,467 new Ordinary Shares with Deutsche Bank AG London to raise
approximately 4.4 million was completed and announced and as part of that
transaction Deutsche Bank AG was granted an option to acquire 23,856,733 new
Ordinary Shares.

On 7 January 2005 the Company was notified that Deutsche Bank AG and its
subsidiary companies no longer had a notifiable interest.


ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman

ICIS Limited Tel: 020 7651 8688
Caroline Evans-Jones




This information is provided by RNS
The company news service from the London Stock Exchange

Biffa,

I think and I may be wrong....but DB have obviously got these for someone else. A there is no reason to buy and sell so quickly and B the price would have gone tits up if they had just sold them. In my opinion, something else is brewing and I am more than convinced it is very positive. Somwone knows something and by the time we know, this price will be a thing of the past. I think single figures goodbye, double figures hello. What are your view Biffa, or anyone else?

We are here to help and share our views.

that would be very nice news if that is the case ukbambammatt,however they still got the bluesky deal too sale???????????????????????

i see that BP according to their web site still have 24% of bluesky so these ideas/rumours of BP involvment could be true ! i have sent email to BP to see if they can confirm this holding , BP say that they want to increase there exposure in china so fto would possibly be a safe way of increasing this , but with the amount of shares moved by the bank you would expect a rns about a increase in percentage holding in the near future
Also i wonder if the bank moved the options as well or still hold
But if BP did get involved now that would shift the sp a tad

you are not kidding biffa,however there was 3.5 millon shares sold today??any idea why????

to me they were mostly buys as price was moved about obv to try and cover wot they were ,l2 & price held firm also if they were sold they wasnt to a private investor i wouldnt think ,bp confirmed to me that they held 24% of bluesky still but would not comment on any holdings in fto its self
i still expect a rns sometime soon on where those shares have gone ,also we are in the option period so would not expect any push upwards at the moment to any great extent

this is brewing.....watch for DB to activate their options quickly. If they do in the next week. I expect 12p+ rapido!!!! Well Done Biffa on the research. You obviously spend a bit of time doing research sat in the old chair, do you get time for a bit of excercise. I read something about guys who spend too much time in the office ending up weighing 15stone + , please tell me you do some excercise Biffa and dont just watch the shares for our benifit. We wish you all the best Biffa....our little star on the thread!!! Good luck everyone.....

15 stone????????///

I wish!

and I have a treadmill just behind me here

14 million shares today traded?????????????????????????????????????/

This will be heading north soon

i hope this stock is going to do something in the future has i have every thing on this company ?????????????????????????????????????????????/

llewellyn, if you have placed everything on FTO you certainly have thrown caution to the wind. If this company were a baker it would have made many fortunes with all the pie in the sky and jam tomorrow. Perhaps the future will prove to be different but the past reveals it has been a poor long term investment. Money has been made in FTO with short term trading. For you holders I wish you luck, but this is one stock I would not offload a lot of cash into.

Times are different now with China becoming an ever-emerging economy...there is no doubt that FTO will be a real winner.

hlyeo,
"there is no doubt that FTO will be a real winner."

No doubt?...... strong statement in this business!
However I do wish you luck and hope that I am proved wrong in my views.
opto

Don't worry...I am confident I will prove you wrong, Opto.

Opto
i think you are right about the past but things have changed somewhat as things have become much more stable in china and thats where the growth is , china needs power oil/gas etc etc ,and if fortune can grasp it right i think they have a good chance of making it or be bought out by a bigger company ,the only problem i see on the horizon is the amount of shares issued !!

little bit of volumne today very strange spread looks like they are trying to cover up whats buys/sells

lots of sells today????????????????????? does anybody know whats going on !!

according to level 2 most were buys as spread was vry tight most 8.80 trades and above were buys dont believe all what you see i bought 2day at 8.80
offer
8.80p to 375k.,


bid
8.79p to 500k..

as you can see that puts a different light on it ,

Well looks like we aer hanging on news still here. What appeared to be alot sells today and the price held firm?? THoughts anyone? I can only think this means there is a buyer still in play, other wise Im sure the bid would have dropped today. IMHO

fair few large '?' trades gone through today. could be ticking back up to 9p again soon, can anyone confirm these?

Does this explain the delay in the Blue Sky sale?

BBC Business News 24/01/05

Scandal-hit jet fuel supplier China Aviation Oil has offered to repay its creditors $220m (117m) of the $550m it lost on trading in oil futures.
The firm said it hoped to pay $100m now and another $120m over eight years.

With assets of $200m and liabilities totalling $648m, it needs creditors' backing for the offer to avoid going into bankruptcy.

The trading scandal is the biggest to hit Singapore since the $1.2bn collapse of Barings Bank in 1995.

Chen Jiulin, chief executive of China Aviation Oil (CAO), was arrested by at Changi Airport by Singapore police on 8 December.

He was returning from China, where he had headed when CAO announced its trading debacle in late-November.

The firm had been betting heavily on a fall in the price of oil during October, but prices rose sharply instead.

Payback

Among the creditors whose backing CAO needs for its restructuring plan are banking giants such as Barclay's Capital and Sumitomo Mitsui, as well as South Korean firm SK Energy.

Of the immediate payment, the firm - China's biggest jet fuel supplier - said it would be paying $30m out of its own resources.

The rest would come from its parent company, China Aviation Oil Holding Company in Beijing.

The holding company, owned by the Chinese government, holds most of CAO's Singapore-listed shares.

It cut its holding from 75% to 60% on 20 October.

Whislt we are waiting for FTO to confirm theirs plans as regards The Blue Sky deal, it would appear FTO are in a win win scenario. a*v*n threads seem to be saying that froma chartists point of view this is going to bounce very soon.

Let's hope so because it seems to be sliding back to sub 8p which was resistance on the upward journey for such a long time...

483 vs 136 sells, looks like its resisting 8p. now all it needs is some news!

And a very tight spread

Is there any conclusions yet on the confusion on the contracts
in Iraq?

Is this the PET thread? contracts in Iraq. LOL

Could be - I can often get my furry ears in a twist LOL
;>)

Are you called Stockbunny because you rabbit on about shares? LOL

I just fancied a different type of nickname - something fun
rather then serious to break the somber mood :>)
Mind you I can talk!! LOL

Yes having looked it up this is the one in China not Iraq,
which to be honest I'm quite happy about.

"Mind you I can talk!! LOL"
You bet...for England :-))

LOL I wondered if you would be able to resist the
temptation Opto - I deny all knowledge, I am but a humble
simple bunny etc etc

;>) LOL!!

So your a happy bunny , i will think of you every time Chas & dave sings rabbit,rabbit,rabbit. LOL

I'd quite like you stockbunny on toast with cheese....or is that something completely different?

MORONS....stick to the thread please

I would rather stick to fluffy ears jammyjimmy :-))

Jammyjimmy.

No one is stopping you from posting, so what is it you want to say about FTO.

Please jammyjimmy do enlighten us. Where are your pearls of wisdom (or perhaps Fortune cookies would be more appropriate)?

whats going on with fto ???????????? have they sold the bluesky deal yet??????????/

This one is really trying my patience now...

Understandable Queen1 to be honest, I am so tempted to get into
FTO but the lack of real movement beyond this level is putting me
off a bit but there again....it's a tough one to decide on!

Well stockbunny, if it does manage to break the 10p barrier all of the portents suggest that the (blue) sky's the limit. Market conditions, Chinese demand, raw materials costs etc. However, for some reason that "if" seems still to be a big one.

Nobody is looking in this direction at the moment. This is supposed to be the time canny investors pick up bargains--I've bought in so hope I don't have to lose too much or wait too long!! we want NEWS!

I find the drop below 8p a concern. There must be some negative influences and opinions to do with this Bluskey deal or it would be heading North

Oil prices heading South?

Queen1 - agree with you, those are the reasons why I'm in GFM

glad to see your sticking to the thread bunny

Hi Loadsa! Long time no see!!
Sticking to it...got no choice, it's the treacle
;>)

Are you sure its not the marmalade or Jam perhaps?

;>)

Stockbunny - Nice to have agreement on the BB's. The world's always a better place with a kind word and a winning smile :-) (especially when you're waiting for your Fortune...)

Fortune Oil PLC
03 February 2005




3 FEBRUARY 2005

FORTUNE OIL PLC
('Fortune Oil' or 'the Company')

BLUESKY UPDATE

Further to the announcement dated 25 January 2005 by China Aviation Oil
(Singapore) Corporation Limited ('CAO') detailing their proposed scheme of
arrangement, the Company would like to confirm that Fortune Oil is not a party
to this restructuring proposal. The Company would also like to confirm that the
Sale and Purchase Agreement between CAO and Fortune Oil PRC Holdings Limited as
announced on 5 February 2004 has lapsed. Fortune Oil continues to retain its
24.5 per cent. interest in South China Bluesky Aviation Oil Company Limited
('Bluesky') and currently Fortune Oil is not seeking a buyer for Bluesky.

The Bluesky business continues to exceed expectations with significant growth
opportunities and the operations have not been affected by the problems at CAO.
In 2004 the jet fuel sales volume was over 1 million tonnes, a 33% increase over
2003. The prospects have been further enhanced by the recent government approval
of the plan by FedEx to build an Asia cargo operations centre at Guangzhou
Baiyun International Airport and the recent announcements by China Southern
Airlines of agreements to purchase thirteen new Boeing 787 aircraft and five new
Airbus A 380 aircraft to significantly increase its fleet based in Guangzhou.

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

Oriel Securities Limited Tel: 020 7710 7600
Simon Bragg
Natalie Fortescue

ICIS Limited Tel: 020 7651 8688
Archie Berens or 07802 442 486




This information is provided by RNS
The company news service from the London Stock Exchange

barney,

Thanks, that looks quite positive for FTO, IMHO.

Does this now remove the speculation and uncertainty over Bluesky?
Seems to me from the sidelines that this issue has dominated talk
of FTO for some time, so presumably some clarity will be good?

well wonder what this week will bring maybe a move up !! but i still think we need some news on progress across the board we might see a tick up and a bit of day trading on this but maybe not real movement until results time , which by then
i expect the speculators would of pushed it up a bit
people talk of it hitting 12p etc but for what reason as there are a lot of shares
about ,and what was that all about with bank getting their rns wrong
so heres hoping 12p i would be vry happy ,

.

Ha! Ha!

hightech--what are you on?? I could do with a dose! hope you're right mind.

Me too....Ha! Ha!

BBC 2 WORKING LUNCH mentioned getting into less well known oil companys as some ie jkx had risen 100% plus and some were doing quite well on 50 dollars a barrel oil price

Good that CAO not able to takeover BlueSky owned by Fortune as BlueSky has made 33% profit

whats going on with fto???????????? has anyone have a clue:)

No - I'm obviously not a Fortune teller ;-)

Nothing is happening when the market is closed. What are you talking about llewellyn?

if your talking about the share price , then its waiting for news and results time so poss a good time to top up for when this news etc arrives , still looking good tho as holding at 8p ish but would be nice to see some news on inst holdings / major share holders, directors topping up would be nice otherwise patience is reqed im afraid

ok hightech sorry that i asked about some info on fto??? you must know alot more about the company!!!!!!!!!!!!!

llewellyn _ Sorry if I offended you. it was a prompt reponse with no intention.
Can you share your views about FTO?

The price of oil does not seem to moves these.

yes i can shares my views about this company hightech,about 2 years ago i brought 550000 shares @1.75 ,and i should have sold them when they were 10p!!!but has we all know ,greed takes ahold of you and i sat on them,i was hoping that bluesky deal had gone through!do i sell now and take the profit or hold on.over to you hightech :)

I hold very little, about 70k bought about 2.4p long time ago (more than five years ago, I think). I decided to hold untill the true value of the company is recognised. I generally don't think selling assets is a good idea, especially if they can raise money by selling shares to DB etc.
I still hope they do well in China and that's why 15p is my target for this year.
Anyway, I might be wrong, do your own research etc.

guys,

Still this resistance at 8p, it is a larger hurdle than I previously thought.

I am still holding - have held them since they dropped about this time last yeaar and I bought back at 5p (I think) - target 12p - but patience wearing thin - may have to sell them to top up on SEO GMC and HMY

Baza

From last weeks The Economist (vol 374 pp.78)

'Although China accounts for only 8% of global oil consumption, well below Americas 25%, it has accounted for as much as one third of the increase in global oil demand over the past three years, almost twice as much as America. And China's oil demand will grow as incomes rise and more households can afford cars and energy-consuming household appliances. If UBS's forcasts of Chinas oil imports are correct, and if (a much bigger if!) the relationship in the chart holds [oil prices vs oil demand], oil prices could hit $70 a barrel within two years. If, on the other hand, China has a hard landing and it's oil demand falls, expect prices to plunge.'

Does nayone know when FTO results are? Seems strange the share price has dipped this morning even though talk of BlueSky profits!! Plus higher oil prices should mean a good overall results!

According to one of the posters above, they also dropped around
this time last year. I would also be interested to know when they
report if anyone knows.
This drop in price has been enough to tempt me, so I'm in
chaps and chappesses! :>)

stockbunny
i called the london office yesterday and the girl that answered said they would report in the last week of april.
same here by the way,have been topping up in the last couple of weeks.bargain basement i think!

China is booming. I can't understand why FTO is so weak.
I think DB bought at 9.25p.

Thanks alderleyedge and hightech - not long to wait then!
BBC doing a China week next week, you never know it might
bring in some new private investors to PLC's that are already
in there and doing OK.

been heavey trading today 8 millon shares ?????? does anyone know new news!!

This share seems to be slowly heading south! Any thoughts? With mention of the results in the final week of April, should we not see FTO getting stronger?

I agree it's very boring but the prospects are good and the price of oil is ever higher so I'm hanging on for the results.

goss
i agree with moneyplus and am doing the same.
i personally dont think this is heading south,looking at the chart fto has traded within a range for a couple of months but is showing signs of a nice rounded bottom(dont you just love em)as it has done historicaly.i've topped up on recent dips but notice the offer doesnt drop below 8p often and is quickly mopped up!

Jet fuel price hike to hurt Chinese airlines' profitability in 2005 - UPDATE
AFX

BEIJING (AFX) - International ratings agency Fitch Ratings said the recent 10 pct hike in domestic jet fuel prices will hurt the profitability of Chinese airlines in 2005.

'Given jet fuel expenses constitute roughly 30 pct of Chinese airlines' operating costs (the single largest operating cost component), a 10 pct rise in jet fuel expenses will likely cause a parallel three pct increase in operating costs,' the agency said in a statement.

But Fitch said that China Southern Airlines' existing 'BB-' rating remains unchanged despite the fact it is likely to be severely hit by the price jump.

The agency said it expects the price hike to reduce China Southern's operating profit by between 900 mln yuan and one bln yuan in 2005 from the 2.8 bln yuan forecast before jet fuel prices were raised.

'Notwithstanding this, Fitch expects China Southern's key credit ratios to remain within acceptable levels for its current 'BB-' (BB minus) ratings,' the agency said, noting that the cash impact of the fuel price increase will be partly offset by the airline's traffic and revenue growth.

But, Fitch warned that further increases of this magnitude in jet fuel prices over the short term could threaten the airline's ratings, or the rating outlook.

Fitch said a few large airlines with international operations, such as Air China, will be less affected by the price increase than their domestic peers because they are allowed to purchase jet fuel at foreign destinations when serving overseas routes.

Historically, Chinese airlines have purchased most of their jet fuel from the monopoly supplier, China Aviation Oil Supply Company, at the rates set by the National Development and Reform Commission (NDRC).

Although the NDRC sets domestic jet fuel prices by referencing international market prices, due to the time lag and frequency of adjustments, prices paid by Chinese airlines have been substantially higher than international prices, Fitch said.

bjburo@xinhuafinance.com

amj/dk

FTO has not been very lucky lately...sliding down.

Does anyone have any idea as to why?

refer Barneymam`s post of 3rd February which closes out sale of Blue Sky holding and with oil hike and pre-sales at lower prices possibly similar to China Aviation mixed with general uncertainty, gives us the current price and unless something good occurs I see the price lowering to 5p +/-, which may be a good time to step in. There does seem to be little confidence in the `something good` occurring though !!!!

Jet fuel price hike to hurt Chinese airlines' profitability in 2005
AFX

BEIJING (AFX) - International ratings agency Fitch Ratings said the recent 10 pct hike in domestic jet fuel prices will hurt the profitability of Chinese airlines in 2005.

'Given jet fuel expenses constitute roughly 30 pct of Chinese airlines' operating costs (the single largest operating cost component), a 10 pct rise in jet fuel expenses will likely cause a parallel three pct increase in operating costs,' the agency said in a statement.

But Fitch said that China Southern Airlines' existing 'BB-' rating remains unchanged despite the fact it is likely to be severely hit by the price jump.

The agency said it expects the price hike to reduce China Southern's operating profit by between 900 mln yuan and one bln yuan in 2005 from the 2.8 bln yuan forecast before jet fuel prices were raised.

'Notwithstanding this, Fitch expects China Southern's key credit ratios to remain within acceptable levels for its current 'BB-' (BB minus) ratings,' the agency said, noting that the cash impact of the fuel price increase will be partly offset by the airline's traffic and revenue growth.

But, Fitch warned that further increases of this magnitude in jet fuel prices over the short term could threaten the airline's ratings, or the rating outlook.

Fitch said a few large airlines with international operations, such as Air China, will be less affected by the price increase than their domestic peers because they are allowed to purchase jet fuel at foreign destinations when serving overseas routes.

Historically, Chinese airlines have purchased most of their jet fuel from the monopoly supplier, China Aviation Oil Supply Company, at the rates set by the National Development and Reform Commission (NDRC).

Although the NDRC sets domestic jet fuel prices by referencing international market prices, due to the time lag and frequency of adjustments, prices paid by Chinese airlines have been substantially higher than international prices, Fitch said.

The FY 2004 Estimates are :

PBT 6.3M
EPS 0.14
EPS Growth 8.79%
PER 51.79
PEG 5.89
Price to Sales Ratio is only x 2.13 - market average figure which helps the low risk grade, Risk Grade being a low 189 now.

FTO turnover is in growth and so is profit in growth.

Matching these est. figures above would provide a rather large boost to FTO. These figures above being from Oriel on the 3rd Feb 2005, who recommended BUY.

Exceed the figures above and...well, make your own mind up.

As good a chance as any to buy more, RSI looking oversold, ready for a bounce.

I think this is purely an MM play to loosen up stock in advance of good resutls, IMO. MM's are making the most of the end of the tax year.

fto smply dont want to cross the 8p line do they???

still a good long term investment i think, but really annoying that we are
still stuck in this range, we may even head lower!!!

A new web site now on line.


http://www.fortune-oil.com/en_us/index.htm


A new start with the coming results - lets hope so !!

lots of buys today
things are hotting up looks like good fortune

all buys this morning too - must tick up a shade soon?

does anyone know any news about fto????????????? like what the company is doing with bluesky etc etc.................. i thought the company was good,if anybody knows any news do tell,thanks :)

I am afraid I have finally given up with FTO.

Have held the shares for over a year - they gave a quick return - then nothing but promises - so I sold and invested in SEO - doubled my money in less than 6 weeks.

Good Luck to those still holding - I like you, think there is good news in the pipeline - but I have thought that for the last 12 months

Baza

results must be due very soon-hope they put some life in the sp.

I agree with bhunt...running out of patience with FTO...no news for a long, long time. Share price going nowhere.

DB bought at 9.25, IF I REMEMBER CORRECTLY. I wonder why they let it fall if there is no problem with the company. Aren't they worried about the fall? Are they fooling the market?
I was watching PTY today. I hope we see such kind of movement in here.

China Says 1Q Growth Exceeds Expectations (9.5%)

http://abcnews.go.com/Business/wireStory?id=686558&CMP=OTC-RSSFeeds0312

results are due at the end of the month,thought we may have had an update or an announcement as to which day.

Should be good news all round or so you would think with high oil prices coupled with the growth in China.

not many posts recently, we seem to be running out of steam!!!

The reason for a deadlock in this share is the usual lack of news but maybe when the results come out there will be a positive update from the company.Anyway I bought at 1.98p and still think it has a long way to go.

No mention of Fortune Oil's financial results in the papers for the forthcoming weeks so maybe next week.

have mailed the company to ask and say are there any other positive statements due out as I am disappointed at the lack of movement in the sp in comparison with similar companies. saw on their website results due end of April-must say I was quite impressed by the website. fingers crossed for good results.

e-mail back from Fortune--results day 28th April. no comment on what to expect but I hope they are good!

Looks like its good fortune for Fortune Oil.

......We are one of the few international companies operating in both the oil and gas
supply industries onshore China. In contrast to the major international oil
companies, we are partners rather than competitors with the domestic oil
companies. The Company now has over ten years of experience in operating such
partnerships and in 2004 your management admirably proved its ability to handle
the challenges and to deliver value to the shareholders......

Reading through I thought it looked pretty good, I see the share
price did go up earlier today, but sadly is now showing the too
familiar red colour!

Great results.
Profits doubled and burgeoning demand for both gas and oil. Future growth can be sustained through the arrival of the Shaanxi-Beijing pipeline in July which will remove the supply-side restrictions for CNG.
Shrewd investments in oil and diesel import facilities have complimented China's status as a 'world leading'importer of fuel oils since the sectors liberalisation.
Even Bluesky has become a deserved asset- +49% net profit- with China Aviation Airlines due to expand its fleet alongside the arrival of Baiyun international aiport.
This year was described as 'exceptional'('even though GDP only grew by 9.5%'!). Fortune appear to have much of their operations in the right place and at the right time and with very lttle prospect of multinational competition. From an general perspective the partial transition to capitalism seen in China may be followed by the demands of her people. Perhaps not as indulgent as the U.S but think lifestyle, increased per capita wealth and ultimately ever-increasing demand for energy.
Would expect FTO to close higher today.
thanks tau.

Agree with you tau. Very good news. T/O up 10%, Net profit Doubled to 2.6m (2003 1.3m) EPS up 78% to 0.16p (2003 0.08p) This looks very promising.

Price has now leveled off and stablised thankfully!

Stablised!!!!!!!!! I have held these shares for sometime and the word stablised is alien to Fortune oil. Even now the share price has dipped somewhat. With such good results I fail to see why the share price is so unsure.

Any Views anyone!!!!!!!!!!!!

Sorry Goss but when I posted it had recovered to a 'green'
position so had got back to a 'stable' position having been
down. But of course I understand what you mean and I can't
see any reason for the share price level currently - good report
and it's not as if there has been a flood of new shares issued
in the last couple of days.

I'll give it a bit longer and if it does nothing I'll cut my losses.

buys outweighing sells by over 1mln, but this means nothing if the market is down- not entirely sure why it is even called a market??
Would be nice to see some positive press over the next few days but the approaching election may stifle things until the next week is over. The Dow has also opened lower, meaning even those shares that were blue this morning are currently being marked down and slipping into red.
The good thing is that none of this affects positive fundamentals.
Yesterdays rise may be attributed to todays sells as traders move on.

slightly off post - but I hold Legal & General shares - and yesterday they posted "truly Exceptional results " - up by 37% in a tough market - and their share price has dropped to its lowest since before Xmas - this is a crazy market. and logic does not seem to apply very much at the moment.

Baza

Well I'll stick my hand up for being a 'rat' but I've changed
my mind and deserted the ship I'm afraid - losses now cut.
But for those still with faith and money in FTO, I really hope
it does do well for you, I just can't hang about and have the cash
tied up for as long as it could take for things to really happen.
Be lucky!

Why Why Why Why Why..........can anyone explain please why FTO is going south?

Time to bail out...FTO is not making good progress. No news is a cause of going south

|In my opinion a lot of good news was already priced in,the sp has risen substantialy over 2yrs
The sp was only 1p in early 2003
There has to be profit taking before moving on.

is this all good or bad news for fto????????????????

Hehehe.....back in me thinks.
regards

I don't think so...still heading southwards.

Informative post from Mike on another site;


Hi all,

Was in Hong Kong a couple of days ago and managed to organise a short meeting with a reasonably senior representative of FTO.

Although he was obviously pretty cagey about giving me any price sensitive stuff, I managed to find some useful information.

Firstly the investment in the natural gas business is set to continue both in the short and long term, which for me as a long-term holder is good news, but for those hoping for a pause to allow the pe to fall in the short term maybe not so good, obviously depends on your personal outlook. He reiterated that the gas business is restricted at the moment to certain parts of the country by the lack of supply, but that this would change over time as the infrastructure is developed by the big oil companies together with the government, and that FTO, because of their good relationship with the oil companies and their track record would be able to take advantage when the infrastructure is ready. From what I have seen and read so far in China the Chinese are really rushing to embrace NG, and given the speed that projects develop over here once the money and the will is there, I would imagine the infrastructure will be provided relatively quickly (just a personal opinion).

Also told me that in the cities that FTO already supplies NG to the present take up is only a small proportion of the population, he cited Qufu, where at present there are 50-70,000 NG users, in a city of 500,000. I guess not all of the population will take up NG as their source of fuel, but seems to me there is a lot of potential for new users (given what was written in the report about NG being a cheaper option than competing fuels) without too much investment there, especially as he told me the reticulation systems are now operational for NG (which I personally hadnt picked up from the reports).

Regarding the PetroChina FTO co-branded gas stations in Beijing it turns out the company owns the third largest NG gas station in Beijing, which he said as a foreign company they like to keep a little quiet about. Now, Beijing has a target that 90% of their buses and 70% of taxis should run on NG by 2007, as part of their plan for a Green Beijing for the Olympics in 08. This target was set in 98 (if I remember correctly) so I am not sure how close the city now is to reaching the target, and therefore not sure how much room for expansion in demand for NG for transport there now is as a result. However, when asked he seemed quite confident that the gas stations were well positioned to benefit from any expansion (remember FTO owns one of the largest NG production plants in the Beijing area). Also, although I have no experience of transport in Beijing, if the system is anything like other Chinese cities such as Guangzhou or Shenzhen, about half of the traffic seems to be buses or taxis, and so there should be quite a substantial market for the gas stations, especially as we get closer to 2008 (again IMO). Also, as he told me, the NG production plants in the Beijing area are used not just for FTO distribution assets, the company also trucks gas from the plants to manufacturers and other businesses who require NG. So again as the Olympics beckons, and businesses have to meet stricter standards for emissions, there should hopefully be an increase in demand for FTOs gas.

I was also told that the company is not looking to leave the aviation fuel industry (despite the speculative BP rumours I have read occasionally on this bb), and that the aborted deal with CAO was more an attempt to gain a slice of a bigger cake in the industry than to take cash and shares to finance expansion in the NG side of the business. Given the results we got from Bluesky this is for me good news. Also it seems that the second terminal at Guangzhou airport (which was planned for from the beginning) has been speeded up due to bigger than expected demand. Having seen the airport first hand I would also like to think a second terminal may include more international flights (at present there are only two gates for international flights, and many many more for domestic), as I would assume international flights mean longer distances and so a larger fuel requirement. When I asked our FTO representative said that he expected that a second terminal would also mean an increase in cargo traffic, and that we may see expansion in this area at the airport before T2. This is because although there are alternatives for domestic passenger flights (and also a small number of internationals) at Shenzhen airport (about 2 hours drive from the Guangzhou airport), and also for international flights in Hong Kong, Guangzhou airport is much better facilitated for cargo than Shenzhen, and obviously causes less hassle to get cargo to the mainland than if it were flown into Hong Kong. I think we should remember that although the results from the new airport were good for last year, as has been said it was only operational for the last few months, so there should be much greater earnings this year, but also the traffic, both passenger and cargo, is likely to expand over the course of this year as businesses and people begin to make full use of it, and so this should be a very good earner for the future.

He also told me that any news about a second SPM, which I had heard there was a possibility of, would have to come from Sinopec (who own the Maoming refinery), and that at present there had been no noises in that direction. He also said that the possible RMB revaluation would have only a small effect on the companys earnings priced in dollars, as the revaluation would be small compared to the rate of growth of earnings the company showed over the last year (there would also obviously be a positive effect on the value of the companys assets priced in dollars).

When I asked him about the current share price, he told me the company had spoken to their brokers about the drop in price after the results, and the only reasoning they were given was that FTO stock is actually quite illiquid, and so a few people looking to sell could lead to the drop weve been seeing. He told me he personally was looking for about a 10% rise in price after the results, and was as surprised as any of us (as youd expect).

That was all the interesting definite info I managed to get out of him, however it was interesting to note that when I said theres been no new investment so far in 2005 more as a lead up to a question about anything in the pipeline he replied err we havent reported anything yet, no. I suppose that could be understood many ways, but gave me the feeling there might be something to be said soon (as I say just a feeling, dont take that as anything definite).

Hope this is useful for you, as I say it was difficult to get anything really meaty out of him.

Also a couple of interesting articles from yesterdays South China Morning Post:

Express Airways Plans Debut Flight in September
Hong Kong Express Airways says it will start flying to Guangzhous Baiyun International Airport from September after gaining rights from the government to offer scheduled air services to five mainland cities.
The Guangzhou flights, using Brazilian-made 76-seater Embraer 170 aircraft, will be followed in October by a launch of services to Hangzhou, in Zhejiang province.
Hong Kongs newest carrier, which is expected to take delivery of its first aircraft in July, was also approved for flights to Chongqing, Nanjing and Ningbo.'


'Carrier Records Boom'
'China Southern Airlines said it carried 3.63 million passengers last month, 44 percent more than a year earlier, as rising incomes encouraged more people to take holidays and business trips. Cargo volume rose 32% to 68,140 tonnes.'

P.S. China Southern Airlines looks to be by far the airlne with the biggest prescence at Guangzhou airport.

Hope that is all legible enough for you!

I was pretty positive about FTO before the meeting, as I said I'm looking at the long term, and was given no reason to change my outlook. Unfortunately dont have any money to invest, if I did though might well be looking to take advantage of the present low price.

Good luck all,

Obviously DYOR, but all honestly from the meeting or MHO,

Mike

Thanks PP--all very encouraging I was thinking of moving on but now I'm prepared to tuck away. cheers MP

more downwards ... below 6p now

a little tick up 2day

Got a positive comment from www.watshot.com today I was told !

about time too--at least this co. is making profits !

hellos traders
I was looking the 5 and 10 year charts trying to see a big picture and from the technical analysis it look ok because the sector is trading up but fto is doing a head and shoulder in a bad position, "we are in summer time" and lot of sector will need oil so the price could go up, is everything go well it could reach 7 or 8 p, OP can not control de prices any more.
we saw almost 60 dolares a barrel a few month a go , it is bad but is good for us .so we need lot of people buying and buying shares in this company.blue and blue and blue.
i dont see a 50p a share price in a short term .but could happen. i woul like to hear from you traders.
RICHARD

moneyplus are you here?

Yes--still waiting for the price to rise!! cheers MP

Ms ching li, Director bought 4,405,150 shares @ 6.75p on 15th June.

Yes a very nice director buy ! AGM this week too.

Fortune Oil PLC
20 June 2005


FORTUNE OIL PLC

NOTIFICATION OF DIRECTOR'S DEALING

Fortune Oil PLC (the 'Company') was notified today that on 15 June 2005, Ms
Ching Li, a director of the Company, purchased 4,405,150 ordinary shares of 1
pence each in the Company (representing 0.24% of the issued share capital) at a
price of 6.75 pence per share.

Ms Li now holds a total of 14,874,537 shares representing 0.81% of the issued
share capital of the Company.


20 June 2005

Enquiries:

ICIS Limited
Caroline Evans-Jones Tel: 020 7651 8688

Price increasing slighty ahead of tomorrows AGM, lets hope for good news.

Will the 50DMA prove to be a resistance point?

this has def gone dead this thread have you all bailed or died of boredom

Nothing like a couple of joint ventures would put this thread back on track.It is not the greatest company for newsflow.

Biffa18, still hanging on in here but there's not been much to comment on recently.

I'm still holding, but lack of newsflow means there's not too much to discuss.

MACD may be going positive, keep an eye on the chart above!

i see they have been playing with share price so someone could top up a few

i have held these shares for 5 years now,should have got out at 10p!!!!!

How many times i have said that only to get caught out as i did in ashtead bought 2000000 at 2.5 sold @8p and thought i did well which i did !! now over a quid what a bummer ,now hold 2mil of these and i am not selling !!
the director has topped up a few which is a healthy sign of sorts

ANy idea about the result? Can it be bad?

Looks like there is a large buy order to fill with good gains yesterday and today again so far. Results are due on around the 28th of September.

Is doing well today with the offer over 7p.

Link


CHINA PRESS:Sinopec,CNPC To Form JV;End Jet Fuel
Monopoly
Aug 04, 2005 - 21:07:30 HKT
Dow Jones Newswires
BEIJING (Dow Jones)--China Aviation Oil Holding Co., China Petroleum &
Chemical Corp., or Sinopec Group, and China National Petroleum Corp. will
set up a joint venture company this month that may end CAOHC's
monopoly of the aviation oil market, China Business News reports.
CAOHC will hold a 51% stake in the new joint venture company, while
Sinopec Group and CNPC will hold 29% and 20% respectively, CAOHC's
spokesman Bian Hui tells the paper.
CAOHC is the parent company of China Aviation Oil (Singapore) Corp.
(C47.SG). Sinopec Group is the parent company of Sinopec Corp.(SNP),
while CNPC is the parent company of PetroChina Co. (PTR)
Sinopec Group and CNPC also plan to team up with China Ocean Aviation
Group Inc. to set up an aviation oil joint venture.
China Ocean Aviation is a state-owned enterprise and has a wide range of
businesses that cover ocean and air transportation and engineering.
The three parties have submitted a primary proposal to the General
Administration of Civil Aviation of China for approval.
Once the proposal is approved, the three parties will come up with a
working plan on how to form the joint venture, the paper reports.
Currently, the supply of jet fuel and jet fuel storage facilities in China are
fully controlled by CAOHC, the paper reports.

This could change things very positively for Fortune Oil and the market seems to like the news as FTO is going up again.

Had a good strong day yesterday and could be another today as this news has had time to be digested now.

Fortune Oil PLC said its Fu Hua unit has successfully commissioned the Compressed Natural Gas station at Tongzhou in Beijing.

The station is one of the largest in Beijing and will sell gas for use by households, businesses and buses in Beijing suburbs.

The company said it sees the demand for natural gas for transport growing in Beijing as a result of the city administration's push to reduce air pollution by increasing the use of natural gas-powered vehicles.

It has already announced a plan to increase the number of gas-powered buses from the current 2,100 to 5,000 by 2008.

newsdesk@afxnews.com

As we know four months,they announced that profits for the year had doubled,also earnings per share went up 78%. At the time the chairman stated that they expected China to continue its strong upward trend. Todays announcement is very good news for the company and also for shareholders.

could this be the start for FTO that we have been waiting for????

I have held these for a number of years,bought some more recently,
they are starting to look good again.
All positive news.

well some interesting trades today a sea of red but not all sells tho

BBulls site posted a Buy Confirmed now.

With a string of good news from the company and with the ever increasing need for oil in China plus the move by FTO to get into CNG supply as well, will we see a strong move up into results as it normally does ?

Results due 28th September and is around 20 trading days to go.

well hope they are right hold quite a few of these in profit (small) but this is a boring share if watched every day but rumours are stock building in back ground by whom tho ? we will see if correct on the 28th pos

biffa18 if it does its normal rise into results then there is a chance of over 9p. We will have to watch how it builds up in the next few weeks.

By the way of trades recently and price movement I think one MM is filling a buy order. They do not like the increased buying today and are having to move the bid and offer up, when in fact if the recent large selling was not allocated, they would not have to respond as much as they are.

If the mid moves through 7p then it should move up faster from there in my opinion.

lets just keep our fingers crossed for fto????????????

It was a good solid end to the day yesterday so some more today and we might be starting the big push up before results.

Pushing up for higher ground now, looking strong again.

for an oil co. that is making profits--why is the sp so low??

They are not just making profits, their profit has doubled and the eps went up 78%. maybe when the results come out on the 28th September we will see some of the big buyers taking notice.

The main thing to look for at the interims is how much EPS growth is expected for the full year and giving the same growth what is expected in 2006. Presently they have a conservative estimate of 0.25p in 2006, but if as is expected the aviation fuel growth is massive and also the CNG side is due to add into this then later we should be looking for an EPS in 2006 of potentially 0.45p, this would give at 9p a prospective PER of 20 (down very much from pevious times of pr PER of 40) and would make 8p to 9p a reasonable level to be trading at in my opinion.

The important thing with FTO is the pr PEG factor, which is low and supports a high PER, a high PER is only adverse if the PEG is also high, a low PEG and high PER is fine for a growing stock, and with FTO the EPS growth is very strong.

nice little 400 gone thro things should begin to hot up over next few days on spec alone , so have taken a nice large spread bet to close before results just in case ...so prob will go down from now on !!

Going up well today.

It will be a buy if it passes 10p. Not yet though!

not sure whats going on with no volume to speak of , they are moving the spread about which makes it look like it has gone up or down , did think there might be a tad more interest in run up to end of september hope there is not something silly going on in the back ground

Still selling going on, I can't understand why,if anything they should have been going up with results due in 1 weeks time. If recent performance is anything to go by they should have a another good year. Maybe investers are waiting for further proof, any thoughts?.

Roma - I really don't understand it either unless the results are not going to be good and people have had a sniff. But I find that hard to believe in the current climate. I've been in FTO since they were 1.5p. Sold part of my holding at 4.5p, saw them rise to 10p and tread water from 5-7p ever since. If they can't make a break-out of the range shortly with all the factors that are in their favour (oil price, Chinese business etc) then perhaps they're doomed. However, I believe they will so hanging on in there.

Last year they doubled their net profits from 1.28m to 2.58m and eps rose from 0.09 to 0.16. This year they have the benefit of the Chinese business, and high oil prices. I can only see better things ahead,. I guess I'll have to wait until next week.

The result is better than I expected. Given the recent developement and also involvement of foregin companies in China, the future of fortune should be more positive. I like some parts of the report.

"the Company made sound progress in the pursuit of potential new investments." But we don't know what investment yet.

"In early 2005 there was insufficient gas supply to meet demand in and around Beijing." The good news is that the demand is greater than the supply, so the supply problem should be sorted soon due to foreign investment in China, they should make loads of dosh. They expect to go into profit with these pipelines early next year, however this can be brought forward due to high growth in China and stronger currency against Dollar etc.

Check recent investments by large institutions in China. Today: "UBS to acquire 500 mln dollar stake in Bank Of China"
http://uk.biz.yahoo.com//27092005/323/ubs-acquire-500-mln-dollar-stake-bank-china.html

OR: "BASF investment in China's Chemical industry ..." http://www.moneyam.com/action/news/showArticle?id=981271

The results are in line with broker forecasts and second half is normally better than first so plenty of reasons for a positive outlook I think.

But the sp has still dropped and at a time when the price of oil and commodities is so high. This is actually therefore not a great performance which is very disappointing to a long-term holder like myself.

http://abcnews.go.com/Business/wireStory?id=1258334&CMP=OTC-RSSFeeds0312

Thanks ahoj

mind if I post on another BB

regards

http://uk.biz.yahoo.com//051108/94/fw9ep.html


BP eyes stake in troubled China Aviation Oil
BP (LSE: BP.L - news - msgs) , the UK energy group, is negotiating with Singapore-based China Aviation Oil for a possible stake in the Chinese state-owned jet fuel importer as part of a debt restructuring plan for the company, which was at the centre of a derivatives trading scandal last year.

BP has emerged as the most prominent potential investor among several others, including another European oil company, which have expressed interest in taking a stake in CAO to gain access to Chinas energy market.

BP would possibly join Temasek Holdings, the Singapore state investment company, as CAOs biggest outside strategic investors.

Beijing-based China Aviation Oil Holding (CAOHC) now has 60 per cent of CAO.

Shares in BP were down 0.2 per cent at 634.5p in late morning trade in London on Tuesday.

BP will buy stake in CAO to gain access to China, result to push sp back to 10p

Siemens eyes Asia as key to telecoms growth
http://uk.biz.yahoo.com/051115/94/fwwxu.html

Good to hear that..

http://www.moneyam.com/action/news/showArticle?id=1055966

http://www.moneyam.com/action/news/showArticle?id=1055424

Thanks Ahoj

Suggestion use the link button above to inbed links into posts, Saves having to copy and paste into address bar. took me for ever to pick up on it.

couple that you may of missed durring the night.

http://www.moneyam.com/action/news/showArticle?id=1055321

http://www.moneyam.com/action/news/showArticle?id=1055424


regards

FTO has invested in one of the fastest growing markets in one of the fastest growing countries, but share price has beeen one the weakest in the market in recent years. IMO
How long can it go like this?

http://news.bbc.co.uk/1/hi/business/4455594.stm


BP buys stake in China fuel firm

BP is buying a stake in China's main jet fuel importer China Aviation Oil (CAO) for an, as yet, undisclosed sum.
A spokesman for CAO, which is turning itself around after near collapse last year, also declined to give any details on the size of the stake BP is buying.

Reports say the UK's BP is buying 23% of CAO, which is based in Singapore but majority owned by Chinese state firm China Aviation Oil Holding Company.

CAO ran up huge losses last year betting on the future price of oil.

It lost about $550m (320m) during the scandal, the biggest to hit Singapore since the $1.2bn collapse of Barings Bank in 1995.

Fast-growing market

The new deal will allow BP, the world's second largest oil company, to increase its small presence in China's tightly state-controlled, but fast-growing, oil market, now the second largest in the world.

BP currently owns a 24% stake in another Chinese jet oil company, South China Bluesky Aviation Oil, which supplies 15 civilian airports.

A BP spokeswoman said the company was not immediately able to comment.

BP boss Lord Browne visited China at the start of this month, meeting government officials and executives from the country's three largest oil producers.

Sorry to be dumb, but what effect does the CAO and BP deal have on FTO?

BP has an interest FTO if I am not mistaken (Bluesky), and CAO and FTO do the same things, that BP are expanding into this area that FTO by itself are in (aviation fuel), can lead to some speculation.

The recent move by FTO into natural gas might be a change of policy, with FTO selling out or reducing the aviation fuel side, to the likes of BP ?

Its sector related, so worthy of note.

carlosmac, these posts at AFN discus it a bit, hope it helps.


pricemilne5 - 21 Nov'05 - 13:23 - 3340 of 3343
Very interesting news. Perhaps we will see a steady rise now. furthermore who's to say that BP are only buying into CAO, they have billions of spare capital sloshing around their coffers after the latest oil price spike, and the only way they can really grow is to buy!

roma77 - 21 Nov'05 - 13:59 - 3341 of 3343
Thanks rwcarlos for bringing the BP news to my attention on the cyc thread, much appreciated.

Yes, very interesting news. I wonder if BP might make an offer for FTO's 24% stake in Bluesky, would have to be a very good price much higher than what cao offered over a year ago. Interesting times ahead methinks.

Graham4mon - 21 Nov'05 - 14:11 - 3342 of 3343
Roma77, as BP already have 24.5% of South China Bluesky Aviation Refuelling I'm not sure that the Chinese Government would be too pleased to see them increase their holding to 49%, as I seem to have read recently that they have been resisting BP trying to buy into the oil & gas operations of the Chinese oil majors on the mainland. All IMHO of course.

roma77 - 21 Nov'05 - 14:25 - 3343 of 3343
Hi Graham,
I had the same thought as u but then I remembered that if CAO had bought fto's 24.5% stake of Bluesky, CAO and its sister company China Aviation Oil Supply Corp would have jointly held 75.5 pct of Bluesky. Well, we will just have to wait and see what happens.

Thank you very much PP.

FTO putting together a decent run over the last couple of days. Is this the support required to launch an assault on the highs of 10p?

I think if we get some positive news the sp will fly through 10

There might be news on the JV coming or an update on gas, this one is like some others, it moves up ahead of news and then moves again on news.

Could be a strong run to year end.

does appear to be something in the wind. A day of heavy trading, just need some news early next week to keep momentum going.

tau the momentum should continue next week, and yes some news would certainly give it a boost up.

Some good news just out for many stocks dealing in China, but in particular for FTO and ACHL which I am following closely now;


China's yuan at post-revaluation high of 8.0798/dollar

BEIJING (AFX) - China's yuan was at a post-revaluation high of 8.0798 to the
dollar on the interbank market in the morning session, traders said.
'The yuan is now quoted at 8.0798/99,' said a Beijing-based foreign exchange
trader, after the currency moved past the 8.08 level.
After months of intense US pressure, China on July 21 freed the yuan from an
11-year-old peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate 2.1 pct against the US currency.
The yuan closed at 8.0825 yesterday, appreciating 0.34 pct since the
revaluation.
In the past month, the yuan has traded between 8.0805 and 8.0877.
Last Thursday, the foreign exchange regulator announced it was introducing a
market maker system - a move seen as a precursor to liberalizing the currency.
The US Treasury released a report overnight which said it did not view China as a currency manipulator because of 'initial steps' in moving towards a floating currency.
allen.feng@xinhuafinance.com

this has got to be the most boring share up 1%...down 1% why not just leave it where it is ....would be nice just to see a gentle rise up to 10p ...at this rate it will take 10yrs to get there lol

not so boring now but in wrong direction

biffa18 - I'll admit that FTO has been pretty dull for about a year or so now. But I bought in at 1.5p and the ride up to 10p was pretty fun. Static at the moment but more to come I feel.....

Queen1
yep yr right im in at lower as well but would be nice to see some pos news sometimes ...i went into this and ashtead recently ,now if it was to do a ashtead ,now that would be nice ! i see they dropped it yest to let someone in with 400 + k

Indeed. I have to admit that with all of the favourable conditions around in its markets at present I'm a little surprised that FTO hasn't kicked on. I still think it's there, just not sure where it's hiding!

anyone know why there is no trade in FTO this morning

SHANGHAI (AFX) - China will soon scrap controls over prices of aviation fuel
and reform the pricing of gasoline and diesel by linking them to prices of crude
oil, the official Shanghai Securities News reported.
The newspaper was citing an official with the National Development and
Reform Commission (NDRC), the country's powerful economic planning body.
The new pricing mechanism will more closely reflect crude oil prices, the
paper quoted Liu Shujie, the head of pricing department of the micro-economics
research institution under the NDRC as saying.
The newspaper also said that curbs in the sale of jet fuel are being
relaxed. Currently, airlines buy jet fuel mainly from the state-owned China
Aviation Oil Holding Co at a price set by the NDRC but other major oil companies
are being allowed to take a share of the market.
Liu also said the authorities will link wholesale prices of gasoline and
diesel on the domestic market to crude oil "indirectly".
The price changes will be more frequent than the current monthly
adjustments, he added.
Liu did not give a specific time for the reform or any indication of how
closely gasoline prices will follow global crude oil prices.
China has set caps on oil products on the domestic market to deflect
inflationary pressure and cushion consumers from the full effects of soaring
global energy prices.
But with crude oil at current high levels on global markets, the pricing
mechanism is cutting deeply into profits of the country's refineries.
China's Ministry of Finance said yesterday that it is offering a one-off
state subsidy of 10 bln yuan to the country's big oil refiner Sinopec Group,
which has been squeezed by mounting crude oil prices coupled with tight caps on
prices for refined oil products.

Fortune Oil on the move at last??

Its moving well again.

Yuan rises to record dollar level (4th Jan 06)

http://news.bbc.co.uk/1/hi/business/4579502.stm

Like the falling riskgrade of this stock, been on watchlist for a while but now in my portfolio....

explosive: I've been in FTO since the 1.5p days, saw it hit 10p and now floating between 5-7p. What makes it a buy for you now?

Bought in @ 5.91, sp to me is very undervalued considering growth of China. I also think the sp will soon return to around 8p. I have noticed that no RNS or Trading updates have been released. Not sure why however can see no reason for poor performance... RiskGrade is currently valued at 174, I see no reason for this to rise.

Fair enough. As a long-term holder it's easy to get a little jaded by the FTO performance at times but I'm still hangin' on in there!

What price are most people in at on here/ I'm thinking of jumping on board?

pd1000 - I was in at 1.5p but sold some on the way up at 4.5p.

Pd1000

Sold half of mine at a loss at the start of the week. purely because of short term ops. was averaged at 6.2p

This share will respond when China starts bringing the energy market into a commercial enviroment not long by the mutterings. So will be buying back in.

But I do not think this will make you rich overnight. But then again nor will it go bust I hope.

Regards

Yet another one in at a low price keeping on hoping for big news.It is a very frustating share to hold but surely some news is around the corner, waited long enough.

Gardyne - Understand your reasons for not buying in and felt the same at first appearence. FTO has very good conditions for growth within China so should do well as long as the board are up for the job!

explosive,maybe its the way I worded it.I was just explaining like other posters I was in under 2p and am still waiting the long awaited news which could burst this in to action.Some posters have already sold out because of lack of action but I agree with you that good times are around the corner.

Gardyne - Yes I agree, 2006-7 should be very good growth years for China. I think this company will see organic growth from the economy alone which should all help.

Trading Update

RNS Number:8742Y
Fortune Oil PLC
24 February 2006

24 FEBRUARY 2006
FORTUNE OIL PLC
("Fortune Oil" or "the Company")

Trading Update and New Acquisition
Trading Update

Upon entering a close period ahead of its Annual Results, Fortune Oil is pleased to announce that underlying operations for the six months ended 31 December 2005
have been in line with expectations as announced with the Interim Results in September 2005.

In the China natural gas business the Company has been able to meet the surging gas demand this winter. Throughput at the Tongzhou CNG station has exceeded expectations, averaging 180,000 cubic metres per day in January.

Acquisition

Fortune Oil has agreed to acquire the shares held by and the outstanding shareholder loans owing to the Vitol Group of companies in respect of South China Terminals Ltd, a joint venture with Vitol that holds the interest in the
West Zhuhai Oil Products Terminal, and in respect of Zhanjiang Fu Duo Gas Company Ltd, a subsidiary of Fortune Oil. The agreed total consideration is US$5.7 (#3.3) million payable in cash. This will increase the effective
shareholding by the Company in the West Zhuhai Oil Products Terminal from 18.5% to 37% and in the Fu Duo LPG business from 57.5% to 80%.

The principal impact will be that the Company has a more influential role in the operations and the future of the West Zhuhai terminal, in which PetroChina is
the principal joint venture partner. This is one of the most important terminals used by PetroChina for import and distribution of gasoline and diesel in south China and we anticipate continuing growth in its utilisation rate. In
2004, the net profit for the West Zhuhai terminal was #2.2 million while Fu Duo had a net profit of #75,000. The combined gross assets of South China Terminals
Ltd and Zhanjiang Fu Duo Gas Company at end December 2004 was #7.8 million.

The effective date for the transaction has been agreed to be 31 December 2005. However, since this is a transaction with a related party, the agreement is subject to approval by the Company's shareholders and, given the transaction's
relatively small size, shareholder approval will not be sought until the AGM on 21 June 2006. A further announcement on this will follow in due course.

New Appointment

The Company is pleased to announce that Mr. Tian Jun has been appointed as Chief Operating Officer for the Company's China operations. Mr. Tian Jun received a
degree from Beijing University and a PhD in Economics from the University of London, after which he worked in the City of London. He has been with the Fortune Oil Group of companies for seven years, acting as General Manager of
Maoming King Ming Petroleum Company and Deputy General Manager of South China Bluesky Aviation Oil Company. Mr. Tian Jun's appointment will strengthen the
corporate management team and enhance our China operations, with an initial focus on the natural gas business.

The Group's annual results will be announced in late April 2006. A presentation of the results will be held at our AGM on Wednesday 21 June 2006 at the Oriental
Club, Stratford House, Stratford Place, London W1C 1ES.

ENQUIRIES:
Fortune Oil PLC
Bruce McGowan - Executive Vice Chairman Tel: 020 7824 8411 (UK)
John Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong)

Pelham Public Relations Limited
Archie Berens Tel: 020 7743 6679 or 07802 442 486

TRADING UPDATE FTO MOVING up!!!

Doing well. Plenty more upside and good news on the gas front.

They had enough money to invest in other companies.. FTO increased holdings to 37% and 80% in other two companies, not far from 100% though.
That's an investment for future IMO

Now Fortune has an influential say in operations it can begin to drive itself forward.

"In 2004, the net profit for the West Zhuhai terminal was #2.2 million while Fu Duo had a net profit of #75,000. The combined gross assets of South China Terminals
Ltd and Zhanjiang Fu Duo Gas Company at end December 2004 was #7.8 million."

Fortune now has potential to match these profits which should see share intrest and a broker mark up.

An oil stock with growth potential...yum yum

Lets not forget China has 10% economic organic annual growth according to the likes of Bloomberg. I see the sp on a one way street.

New thread made up, for a new start with FTO

Click on the link below :

http://www.moneyam.com/InvestorsRoom/posts.php?tid=9557#lastread