Main Web Site : http://www.fortune-oil.com/

CBM Partner Web site : http://www.molopo.com.au

IC Write Up : 21st Apr 2006 IC Write Up

Last Major News : 18th Apr 2006 Coal Bed Methane Project

Prelims : 27th Apr 2006 Prelim Results Link

Latest Broker Forecasts : Oriel 7th April 2006 BUY

Prelim Results and Further Updates due around 25th to 27th April 06

ABOUT FORTUNE OIL

For over a decade Fortune Oil PLC has focused on investments and operations in oil & gas infrastructure projects in China and remains one of the few overseas companies operating oil terminals and supplying natural gas in China, all in partnership with the countrys largest oil & gas companies
Fortune Oil PLC is incorporated in England and Wales and is subject to UK Listing Rules and compliance regulations. The largest shareholders are First Level Holdings Limited, Vitol and major Chinese state-owned corporations.

NATURAL GAS :




China will be the world's largest growth market for natural gas as supplies of this clean and economically attractive fuel become more accessible. Fortune Oil's investments in natural gas are principally through Fu Hua, a joint venture with a PetroChina affiliate, which on-sells gas from the pipelines supplying Beijing. In north China Fortune Oil controls and operates distribution pipelines and city gas reticulation systems as well as facilities to produce and transport Compressed Natural Gas (CNG).
Fortune Oil is now one of the leading providers of CNG in Beijing, providing clean fuel for buses, households and factories. In October 2004 Fortune Oil also became the first overseas company to supply LNG (Liquefied Natural Gas) to users in China, delivering LNG by road to the ancient city of Qufu, the home of Chinese philosophy.

OIL TERMINALS :
Maoming SPM

Fortune Oil established the Maoming Single Point Mooring (SPM) in December 1994 to supply crude oil to Sinopecs Maoming refinery, the largest in southern China. The SPM now delivers 10% of Chinas crude oil imports. It allows VLCCs (Very Large Crude Carriers) of up to 280,000 tonnes to moor and deliver crude oil via a 15 km sub-sea pipeline. The SPM is owned and operated by a joint venture company, Maoming King Ming Petroleum Company Limited, and the other main shareholder is Sinopec Maoming Petrochemical Corporation.
The SPM buoy is commonly used throughout the world for loading and unloading liquids but the Maoming SPM remains the only buoy system in China used for importing crude oil. Fortune Oil believes that the SPM concept is a cost-effective solution for importing crude oil into China as many ports are shallow and will become more congested as demand increases. The only alternative to a buoy system in many ports is to dredge channels for large tankers. The SPM has provided significant cost savings to the Maoming refinery through its low operating costs and VLCC capability.

Products Terminals

The oil products market in China is in the process of deregulation and this will allow a larger role for foreign companies in the import and distribution of refined products. Fortune Oil remains one of the few foreign companies with interests in products terminals.
Fortune Oil and Vitol jointly developed the West Zhuhai Oil Products Terminal at the western entrance of the Pearl River Delta. These facilities came on stream in 1998 and comprise 240,000 cubic metres storage and jetties for receiving and distributing refined products. It is one of the few products terminals in south China able to handle 80,000 dwt ocean-going tankers. A controlling stake was sold to PetroChina which uses the terminal for supply of diesel to south China.
In addition Fortune Oil controls a LPG terminal and supply business (Fu Duo), which has 80,000 customers in Zhanjiang city, and owns storage facilities in Shantou. Prior to the restructuring of the China oil industry in the late 1990s, Fortune Oil was also a major participant in the gasoline retail market and in oil trading. We continue to operate two gasoline stations in Beijing but our trading activities are limited to low-risk domestic trading.

Blue Sky Aviation Oil

The South China Bluesky Aviation Oil Company owns and operates the refuelling infrastructure at 15 airports in south China. These include Wuhan, Guilin and the new Guangzhou Baiyun International Airport. Fortune Oil and BP each hold 24.5% of the joint venture and Beijing-based China Aviation Oil Supply Corporation (CAOSC) holds 51%. The consumption of jet fuel in China is rising significantly, particularly at Guangzhou because of pent-up demand in the Pearl River Delta.
The new Guangzhou airport was opened in August 2004. The construction cost was US$2.3 billion and it is almost four times the size of the old airport in downtown Guangzhou. The new airport is capable of handling 25 million passengers and 1 million tonnes of cargo per year and ranks number three for aviation fuel sales in mainland China.

When Sinopec offered HKD 3.5 for CGH's was valved at $2.2 billion. At the current sp it's valve has soared to $5 billion. With FTO's stake eventually rising to 11% the valve of our holding in CGH will be £360 million, twice our current market cap!!! (This excludes the JV stake).

Found on another board.

B.E.G. raises stake in C.G.H. by 75 million shares.
Their holding increased from 19.48% to 21.12%.

F.T.O. raises stake in C.G.H by 75 million shares,[$500 m]
Their holding increased from 13.74% to 15.36%.

Wish someone would buy FTO shares...LOL

C.G.H. closes @ hk$ 8.630.

I feel FTO guys are very clever and earn money, but these are not reflected in the share price.
I am happy to hold though!

Clearly a deal is been hatched with some big hitting players such as BEG,Sinopec,SK Holdings and a few more.
FTO is in a good position here after the recent buying by the different parties..
Feels like something brewing!!!

I agree and feel good about it as well, but this has been going on for Yeeaaarrrs! It needs a bit of viagra!!!

LOL

Near 105 fall earlier...never good to see...unless you are short...

Largest shareholders increase their stakes in China Gas 』 [2013-3-12]

The two largest shareholders in the natural gas distributor China Gas Holdings have quietly raised their stake in the company, a week after China Gas said it has been in advanced talks to sell a stake to China Petroleum & Chemical (Sinopec) and form joint ventures with it.

A good day ,going north at last.

China Gas Holdings closes @ hk$ 8.320 up 4%

[Net News Agency, 13 March 2013] Macquarie lifted its target price for China Gas
(00384) to HK$9.8 from HK$4.6, and maintained its "outperform" rating.
The research house is positive on China Gas's strong organic growth and its strategic
cooperation with Sinopec. Macquarie's 2013-15 net profit estimates are 14/24/31% higher
than consensus as it believes strong gas sales volume CAGR of 25% in FY2013-16; a
potential re-rating from Sinopec cooperation and synergies from CNG/LNG stations, the LPG
business, and the city gas business; and attractive valuation at 17x 2014 PER. (KL)

C.G.H. closes down 12% @ hk$7.34.

Yeah,,,,very late sell off in HK

Caused by another big deal in pipeline?

I would say its purely profit taking as it has had a very big rise this year....
They have results out soon...

Thanks for info Ruthbaby,exiting times!!

A nice end to the week...Nice bit of support just around 9.75p mark and on low volume...
We are not as poor as we could have been...:)
Good weekend to all...