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.

I am looking at over £30k divi,if share price dips I will top up,there should be a good run up to year end,we are also due news on sinopec project.

Could be 7.25p this time tomorrow....

My crystal ball is a bit cloudy!
It should be clear tomorrow.

The best of luck CWMAM!!!

Thanks Ruthbaby.

Topped up @ 7.7p

Topped up twice this morning @8.25p and 8.30p.

Its doing much better then I expected, price wise...
Guidance for year end 2013 is been posted on other boards as £40m!!!
Thats huge and not sure how that is come by...
But if any way close may make the next stage of FTO evolution quite exciting.....

It looks very exiting!!

exiting was an excellent Freudian slip :-)

I do try and entertain.

http://www.vccircle.com/news/others/2013/10/14/news-roundup-gail-selling-65m-worth-stake-china-gas

"India's state-run gas company GAIL is selling about $65 million worth of stake in China Gas Holdings Ltd through block trade, according to a term sheet seen by Reuters. GAIL is selling 60 million shares in China Gas at a price range of HK Dollar 8.2 to HK Dollar 8.3 per share, the term sheet showed."

We wait to see who the buyer will be ?

Malcolm Graham-Wood gives a good plug for FTO towards the tail of this piece !
http://www.iii.co.uk/tv/episode/mining-companies-strong-growth-story

Concert party now look like they are buying stock!!!!

I Think they are and they will control the sp as and when they want from here on.

Concert party will want sp to rise of course!!

18 October 2013

Fortune Oil PLC
("Fortune Oil" or the "Company")

US$300 Million Loan Facility


Fortune Oil (LSE: FTO.L) is pleased to announce the signing of a US$300 million (GBP188 million) loan agreement by Fortune Oil PRC Holdings Limited, the Company's principal intermediate holding company in Hong Kong. The facility is denominated in US$with a term of three years and a margin of 2.75% over LIBOR. The facility is guaranteed by Fortune Oil and secured by share charges over its various investment holdings subsidiaries.

Morgan Stanley Asia Limited is the Global Coordinator and Facility Agent Bank. A total of 18 international and regional banks participated in the transaction and the facility was materially over-subscribed. The facility structure is similar to the Company's US$180 million three year loan facility signed in April 2011.

This new facility will be used to repay the existing syndicated loan, provide the Company with working capital, and finance new investment.

The Chinies are coming!
The Prudential Regulation Authority of the Bank of England will meet with Chinese banks as the regulator allows them to start wholesale banking in London and loosen the regulations which have been put in force on non-European banks after the financial crisis, said Chancellor of the Exchequer George Osborne. The moves hint of more freedom of trade and remove scrutiny after the financial crisis.

CWMAN...are you in the drips programme of reinvesting your divi?
I am...hope price does not do any mad spike up before next Friday...:)

Hi Ruthbaby
I am taking cash,good luck!