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.

Ruth knows my opinion of this load of poo which is not dissimilar from that of 95% of chinese stocks ...... if you don't mind being regularly fleeced, then keep chucking money at chinese stocks; the "wily oriental" will be delighted with your donations, modest as they may be

I've always done rather well trading FTO, yet to be fleeced...

probably by shorting it!

You know me too well Cynic, but I'm actully long at the moment..

Lots of buying in small parcels but having no effect on the sp...
Noted on another board that it could be the over hang of L&G's holding left that is of concern..
Perhaps they could only sell 40 million but want to liquidate their entire holding in FTO but cant!!!!!
That means nearly 70 million over hang...:(

JUST A QUICK POINT THAT L AND G HAVE AGREED TO BUY A STAKE IN A BUILDING FIRM ON 18 MARCH JUST BEFORE PULLING OUT MAYBE THEY NEED THE MONEY TO INVEST ELSE WHERE
BUYhttp://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9936905/Legal-and-General-buys-Cala-stake-in-first-foray-into-housebuilding.html

SO THEY STATE TO HELP THE ECONOMY TO RECOVER

http://www.telegraph.co.uk/finance/good-news/9459773/Good-news-Britain-LandG-can-plug-lending-gap.html

SO THE REASON IT SEAMS IS NOT THAT FTO ARE DOING BAD BUT TO HELP FUND OTHER PROJECTS WHICH ARE REQUIRED ON A MORE URGENT BASIS

SO HERE IS ANOTHER POINT THAT L N G ARE PULLING OUT

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9460084/Company-cash-reserves-can-aid-recovery-says-LandG-chief.html

B CUZ THE GOVERMENT IS LOOKING AT PRIVATE SECTOR TO RESOLVE ITS PROBLEMS

Thanks for the links Roger.

I think you need to get real Rovergti
We are talking about a very very very small amount of money..
Say 40 million X 8p.....you do the maths...
There selling cause they have decided its dead money...full stop..

『 Natural Gas Prices to Be Hiked 』 [2013-3-26]

China will likely increase natural gas prices sharply in April as part of the pricing reform, China Business Time reported. It is expected that the retail prices in Shanghai and Beijing might rise to ¥2.5 and ¥2.25 per cubic meter, up 32.8% and 40% respectively from existing prices. Analysts say natural gas prices are set to see big increases in China but it is not sure if this will happen in April.

『 Natural Gas Prices to Be Hiked 』 [2013-3-26]

China will likely increase natural gas prices sharply in April as part of the pricing reform, China Business Time reported. It is expected that the retail prices in Shanghai and Beijing might rise to ¥2.5 and ¥2.25 per cubic meter, up 32.8% and 40% respectively from existing prices. Analysts say natural gas prices are set to see big increases in China but it is not sure if this will happen in April.

Its going to be a long way back for FTO from the recent fall off in sp after L&G sale...
Lots of big sells again today which is meaningful statement in itself...
I think it looks like investors think that the holding L&G are left with are now over hanging the market and therefor not going north any time soon..
70 million over hang is a big over hang...

"Lasciate ogne speranza, voi ch'intrate" :-)

post 1147 - abandon all hope, ye who enter?

Well not quite yet!!!!
Forever the hope...:)

"abandon hope all ye who enter here" - Dante's Divine Comedy :-)

『 China's Feb aviation traffic rises 9.5% on year to 4.86 billion mt-km 』 [2013-3-26]

China's total aviation traffic rose 9.5% year on year in February to 4.86 billion mt-km, according to data from the Civil Aviation Administration of China released Friday.

CWMAM
I agree with the good news on the China front, with regard to gas price increases and aviation increases....
And normally I would see them as a back up to my investment....but alas the sp is the main concern here.