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.

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)

『 GAIL to sell stake in China Gas Holdings 』 [2013-4-17]

State-owned gas utility GAIL India Ltd plans to sell part of its 4.6 per cent stake in Hong Kong-listed, city gas distribution firm, China Gas Holdings. GAIL, which had in 2005 made a strategic investment of Rs 137 crore by acquiring 210 million shares of China Gas, will sell part of its holding this month, sources said. The GAIL Board has accorded approval to partially divest the firm’s equity stake in China Gas. The gas utility however plans to keep a small strategic interest in the company that will help it retain its board position in China Gas, they said. China Gas has exclusive rights to set up gas distribution projects in 42 cities in China. GAIL picked up equity in the company as China was keen to replicate Delhi’s success in using natural gas as a vehicular and domestic fuel in its cities, primarily Beijing, before the 2008 Olympics. GAIL saw synergies in city gas/CNG business. But now that the city gas distribution (CGD) business is being pursued by GAIL’s wholly owned subsidiary, GAIL Gas, the company feels the continuation of investment in China Gas does not appear to meet the original objective, sources said. Also, China Gas shares are currently performing well on the Hong Kong Stock Exchange, giving the company a market capitalisation of around USD 4.4 billion. Sources said GAIL has earned only Rs 16.29 crore as dividend on its investment in China Gas over seven years. As the current share price is more than seven Hong Kong dollars, GAIL believes it is a good time to sell and re-invest the earnings from the stake sale in overseas upstream assets. (thehindu.com April 16, 2013)

Cynic:
I think on reflection...we still have quite a few shares on the sell to go through!!
The downward pressur respite eased only for a short while!!

Well they will post results this Thursday....

JP Morgan said the market is positive on the appointment of Liu Minghui as the Executive Chairman , Managing Director, President and Executive Director of CHINA GAS HOLD (00384.HK). Meanwhile, Chen Xinguo has been appointed as the Executive Director of Beijing Gas under the Beijing Enterprises.

JP Morgan believes CHINA GAS HOLD management's negotiations with Sinopec on LPG and CNG / LNG refueling stations are near the end. Undecided projects may relate to new share issue.

I think we have all given up by now....:)

CHINA GAS HOLD (00384.HK), Taiwan banks sign US$450M 3-yr syndicated loan agreement


2013-04-29 16:51:19







CHINA GAS HOLD (00384.HK) announced that it has signed a US$450 million three-year syndicated loan agreement today in Taipei with 23 banks from Taiwan. The proceeds will be used for gas project development of the Group in Mainland China.

This syndicated loan provided by 23 banks and financial institutions from Taiwan makes China Gas one of the first listed companies to gain the strong support from the Taiwan banking sector since Taiwan relaxed its regulations on loans to individuals and institutions in Mainland China by Taiwan-based banks in September 2011.

The loan was led by Nomura Securities International, Inc., as Facility Structure Advisor, with Bank of Taiwan as the Facility Agent, and supported by 23 leading banks including PingAn Bank, Bank SinoPac, Taishin Bank and Taiwan Cooperative Bank. The loan enjoyed 2.5 times oversubscription from the participating banks. In view of the overwhelming market response, the facility has been increased from the initially proposed US$250 million to US$450 million.



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China Gas Holdings up 4.7% today @ HK$ 8.010.

China Gas Holdings up 4.7% today @ HK$ 8.010.

Yes, and large trades in FTO

Yes..and all going through as sells @ 8p...when the bid is sitting @7.81p...all morning
Even after we have just ticked up over 2%
Whats going on here???

8.30p is resistance at the moment...
CGH trading well....still above HK$8.....deal with Sinopec not far away now...