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.

CHINA GAS HOLDINGS LIMITED
中國燃氣控股有限公司* (Incorporated in Bermuda with limited liability) (Stock Code: 384)
STRATEGIC COOPERATION FRAMEWORK AGREEMENT WITH BEIJING ENTERPRISES HOLDINGS LIMITED

The Board is please to announce that on 23 August 2013, the Company, BE Group and BE Holdings entered into the Strategic Cooperation Framework Agreement pursuant to which the Company and BE Holdings will: (i) jointly develop and invest in the area of gas in various forms, such as equity joint ventures, as well as to develop gas related value-added services in the current market and to invest and develop city basic infrastructure, provided that such development and investment is permissible under the laws and regulations; and (ii) utilise and synergise their respective advantages, such as upstream pipeline transmission, downstream supply, refuelling station and trigeneration (i.e. combined cooling, heat and power) etc., to realise the joint development of the business areas of both parties to attain a win-win situation.

China Gas Holdings: Ex Divi:22/8/2013.
Divi payable: 30/9/2013

Fortune Oil should recieve: £1,838,000. are my sums correct?

No of shares held in C.G.H. 351,223,000 [7.6%]

Divi : hk$ .0628

hk$ 12 = £1.

Fortune Oil should recieve hk$ 200m from gas sale shortly.?.

Fortune Oil should receive $200million US Dollars not HK$...:)
Big difference...


The dividend is paid to CGG which FTO hold a 50% JV stake. The sum will most probably be used to help finance the cost of the borrowings in CGG, which would make sense... Sums look accurate before tax...

Thanks Ruthbaby.
$200 million us dollars : £128 million pretty good payday and the same again end of year,or more cgh shares.

Yes...but not sure how much we will pay by then....
They have dropped in price due to going ex dividend (CGH) but feel they will soon go over HK$10 per share as JV sums are done...

26 Aug 2013 13:03 Market News

(Infocast News) China Gas Holdings Limited (00384) announced that all with effect from 23 August 2013, Cynthia Wong Sin-yue has retired from her position as the chairperson of the board; Zhou Si has been appointed as the chairman of the board and an executive director of the company; and Yu Jeong-joon has been appointed as the vice chairman of the board. Liu Ming-hui remains as the executive chairman of the board.

Zhou Si is the vice chairman, executive director and chief executive officer of Beijing Enterprises Holdings Limited (00392).

BEIJING ENT (00392.HK) Chairman Zhou Si said the acquisition for 22.01% interest in CHINA GAS HOLD (00384.HK) is pending approval from the HKEx and special shareholders' meeting. Subject to the investment value, the Company may increase the holding further in the future.

Zhou added that the two sides have signed a strategic cooperation agreement, but no specific project is proceeding, and they will seek opportunities for cooperation in many areas. Asked whether SINOPEC CORP (00386.HK) will increase holding of CHINA GAS, Zhou said it is possible, but currently there is no plan.

F.T.O. Sp ,good day today.

Yes.
We await news from the take over panel now and then the general meeting..
It's not yet conclusively in the uptrend but it is getting closer and it needs some volume but news is still awaited about a few things...

The sp is been fueled up for a strong rise, I think...

Premier Energy and Water Trust plc has 4.7% holding in Fortune Oil per statement issued
yesterday.

Interesting equity investment trust with market cap of c £ 28m and quoted in London
( PEW.L)

Premier Energy and Water Trust PLC announces that at close of business on 31
August 2013 its ten largest investments were as follows:

% of total assets

OPG Power Ventures 5.6
China Everbright Intl. 5.6
Fortune Oil 4.7
China Suntien Green Energy 4.6
Qatar Electricity & Water Co. 4.0
Ecofin Water & Power Conv 6.00%** 3.9
National Grid 3.8
Enersis 3.7
GDF Suez 3.7
Essar Energy PLC* 3.5

* Holding in both convertible bond and equity
** Holding in convertible bonds

At close of business on 31 August 2013 the total net assets of Premier Energy
and Water Trust PLC amounted to £66 million. The sector breakdown and
geographical allocation were as follows:

Sector Breakdown:

Electricity 42.4 %
Multi Utilities 24.6 %
Water & Waste 11.7 %
Gas 11.5 %
Cash/Net Current Assets 3.3 %
Renewable Energy 5.6 %
Infrastructure 0.9 %

Total 100.0 %


Geographical Allocation:

Europe (excluding UK) 9.9 %
China 26.0 %
North America 7.8 %
Global 7.6 %
Asia (excluding China) 15.4 %
United Kingdom 14.1 %
Latin America 8.8 %
Cash/Net Current Assets 3.3 %
Australasia 1.1 %
Eastern Europe 2.0 %
Middle East 4.0 %

Was wondering who was doing the mopping up recently..
Makes sense as the sp was hitting resistance at 8.80p on the bid and has now quickly moved up into the bid been north of 9p today for trades.
Some decent bids today not met cause the bid price is to low, so no volume until it is raised now.

9p looks like it is the new battle ground but without volume cant be sure.
About a year ago it bounced nearly 4 times from a then support level at 9p...
It is going to be tempting for some bulls in this stock as any move above 9p with conviction, could see us back in double figures with surplus stock now taken out of the market...
I am now convinced that it is topping up time... Just need a volume push to get decent stock below 9.30p....
GLA...

Traders are back interested and looking for stock now that AGM date is set...

Very late buying gone through @ 9.40p...the highest for quite some time..
Daniel Chiu apparently is in town for some broker meetings and we got a positive write up in the Times today....

says it all .....

Never been a long term holder as per your chart above..
More trade and current chart suits me..

i merely observed :-)