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.

Ruthbaby, what paper was that?was it good news?
Good start today,found a support level.

Just really an update on their new year tip....
http://www.thetimes.co.uk/tto/business/columnists/article3732393.ece

Thanks Ruthbaby.

Disco light going on with the offer price.....7.91p...7.92p and on and on and on.....

I think L&G are still selling into this market..
I have noticed some very large sells going through regularly over the last 6 trading days...
Don't think they need to inform market now that they are below a certain level..so it could be on going for some time....
Was hoping they would have sold a block to someone by now!!

Will Have news/figures shortly.

I think they have almost finished.

Share price is reacting to trades now. Book is changing too.

ahoj:
How so..could you explain please..

Sell price was never above 8.05 over the last ten days.
There are large number of buyers in buy side pushing the price to 8.2.

Today is the first day price shows improvement after US opened. I suspect L&G agreed selling at an specific price, so the hangover cleared. We should see large trade at the close, probably around 7.6p to 8p.

Thanks for that..
It will make for an interesting UT.
I was surprised to see buying at 8.10p today for the first time in long time!!1
But buyers will still be reluctant to pay more then 8.20p for some time I suspect..

Many shorts have to be covered. If combined with a good news, we see 10p in a few seconds.

That sounds good ,ahoj,been buying this week sub 8p

That sounds good ,ahoj,been buying this week sub 8p

I'm just holding 3 futures....

I'll be interested to see how the retail buyers view this now..
Perhaps as you say ahoy, short covering will commence in earnest along with a return to fundamentals on the potential of this company...
Tomorrow will be a test...

Still some big selling going through...
We may have been a bit early with our call..

Some big buyers about now,bought @ 8.4

There certainly has been some very big buys indeed.
Someone is gobbling up shares @ 8.30p all morning..
It needs a shove now..

Apologies if already posted.... I have just found this.

http://www.chinagasholdings.com.hk/uploadfiles/20130311063402414.pdf

CHINA GAS ADDED TO FTSE AND HANG SENG INDEX SERIES
(Hong Kong – 7 March 2013) China’s leading piped-gas operator, China Gas Holdings Limited (“China Gas” or the “Group;” stock code 384), has announced that it has been admitted to the FTSE China Index Series, effective after the close of business on March 15, 2013, following its recent addition into the Hang Seng Mainland 100 Index, effective 4 March2013.
Mr Liu Ming Hui, Managing Director and President of China Gas, said, “We are delighted that China Gas has become one of the constituent stocks of both widely respected Indices after only 11 years. This not only validates our business growth and remarkable performances over the past decade, it also strengthens investor confidence in the Group. The widespread monitoring of these indices enhances China Gas’ exposure to the international investment community and should broaden our shareholder base. Looking ahead, the Group is focusing on our growth strategies as we strive to create greater value for our shareholders."
China Gas was added as a constituent stock to the FTSE China Index, FTSE Hong Kong Index and FTSE Hong Kong ex H Share Index after the March 2013 annual review recently conducted on the FTSE China and FTSE Hong Kong Index Series. All companies in the FTSE Equity Indices are free float adjusted, meet liquidity screens and adhere to clear rules that are publicly available. This follows a recent constituent change with China Gas added to the Hang Seng Mainland 100 Index after the Hang Seng Family of Indexes was reviewed for the quarter ended 31 December 2012.

『 Fortune Oil announce acquisition of China Gas shares from Fortune Max 』 [2013-4-16]

Fortune Oil announces the following development regarding its shareholding in China Gas Holdings Ltd ("CGH") which is held through China Gas Group Limited ("CGG"), a joint venture company between the Company and Mr Liu Minghui. As detailed in the Company's announcement on 17 February 2012, CGG entered into an arrangement with a private company ("Fortune Max") controlled and beneficially owned by Mr Daniel Chiu, a director and substantial shareholder in the Company, in order to help finance the purchase of CGH shares. Pursuant to this arrangement, Fortune Max subsequently purchased CGH shares and agreed to sell any such shares purchased to CGG at cost, as and when called upon by CGG. CGG has now put in place its own financing capability to acquire all the 207,968,000 CGH shares previously purchased by Fortune Max and has completed the acquisition of such shares from Fortune Max. As a result of this transaction, Fortune Max no longer holds any CGH shares. Under the terms of the arrangement with CGG, Fortune Max has generated neither profit nor incurred any loss from its transaction in CGH shares. The average purchase price of the CGH shares was HK$3.831, before finance costs and other transaction costs which were absorbed by CGG directly. Following this transaction, CGG owns 702,446,000 CGH shares, representing 15.37% of CGH's total issued shares. (oilvoice.com April 15, 2013)