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.

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!

I think we will get more news/updates in the future,as the concert party will want to see the sp rising.

China Gas Holdings Ltd. (384), which supplies natural gas to 195 cities in Asia’s biggest economy, expects sales will jump as much as fivefold by 2020 as the nation pushes for wider use of the fuel to replace coal.
Deliveries may reach 40 billion cubic meters by 2020 from an estimated 8 billion cubic meters this year, Chief Financial Officer Eric Leung said during a group interview at the firm’s Northwest Management Center in Shaanxi’s Baoji on Oct. 17. Growing sales will gradually push dividend payouts toward 30 percent, he said, from 23 percent in the year ended March 31.
Air pollution in China’s northern cities including Beijing and Tianjin exceeded hazardous levels several times this year, prompting the government to take steps to curb the burning of coal. The nation plans to more than double the capacity of gas-fired power plants to 56 gigawatts by end-2015 from 26.4 gigawatts in 2010, data compiled by Bloomberg Industries show.
“Those policies will greatly help our businesses, especially in expanding the number of our commercial and industrial users,” said Leung. “We are very confident about the consumption growth as long as our upstream supplies can be guaranteed.”
Natural gas is distributed mostly at fixed prices, causing earnings to move in tandem with sales, he said. China Gas, which sold 6.8 billion cubic meters of natural gas in the year ended March 31, expects volumes to touch 8.5 billion cubic meters in 2014 and 10 billion cubic meters in 2015, according to Leung.

Hong Kong-listed China Gas Holding is going to start LNG bunkering next year in a response to the central government’s promotion of clean energy in ships and vehicles.

Liang Yongchang, vice president of China Gas, said China Gas is currently updating LNG facilities at some port terminals and will provide LNG bunkering service on the Yangtze River from next year.

“There are lots of vessels which will be converted to LNG power, so there is a big potential in the LNG bunkering market,” Liang said, adding that China Gas will firstly sign cooperation deals with shipping companies and set up LNG bunkering terminals according to their shipping routes.

China Gas acquired the Chinese gas assets of UK-based Fortune Oil for $400m in August this year in an effort to tap rising demand for cleaner energy sources.

this is different.....sustained buying....

Golly Gosh £35k divi and SP heading for 10p

Nice one.....

Thanks Ruthbaby
There could be lots more buying pressure on Monday.

I think dates are correct :-

China Gas Holdings interims :16/11/2013

Fortune Oil : interim/management statement :18or19/11/2013

I hope so..We are including divi, right up against 12.50p which in the past 2 years has been the get out gate for many investors.... So this is looking very interesting indeed.
Certainly worth noting is this from the FGIH sale circular....

Under the Deferred Consideration, the Company may elect to request China Gas to replace its entitlement to Deferred Consideration in a maximum number of 250,000,000 shares in China Gas, based on a benchmark share price (the "Benchmark Price") referenced to the average China Gas share price for the 30 consecutive trading days prior to the request made by the Company between 1 November 2013 and 31 December 2013. The issue of China Gas shares under the Deferred Consideration is subject to approval of the China Gas board and the listing permission from the Hong Kong Stock Exchange.

So FTO could submit for the consideration shares on November 1st, cause i think they may be the best average time to get them..before interim from CGH!!!
Again well done and lets hope for more...

Big rise,well done concert party.

CHINA GAS HOLDINGS LIMITED
中國燃氣控股有限公司*
(Incorporated in Bermuda with limited liability)
(Stock Code: 384)
POSITIVE PROFIT ALERT
This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules.
The Board wishes to inform the shareholders and potential investors that the Group is expected to
record a significant increase in the operating profit of the Group for the six months ended 30
September 2013 as compared with that recorded in the six months ended 30 September 2012,
resulting in a strong growth of the net profit of the Group during such period.
This positive profit alert announcement is only based on the Company’s review of the draft
consolidated financial statements of the Group, which are subject to finalization and will not be
reviewed or audited by the Company’s auditors.
Shareholders and potential investors are advised to exercise caution in dealing in the shares
of the Company.
This announcement is made by China Gas Holdings Limited (the “Company”, together with its
subsidiaries, the “Group”) pursuant to the Rule 13.09 of the Rules Governing the Listing of Securities
on the Stock Exchange of Hong Kong Limited (the “Listing Rules”).
The board of directors (the “Board”) of the Company wishes to inform the shareholders of the
Company and potential investors that the Group is expected to record a significant increase in the
operating profit of the Group for the six months ended 30 September 2013 as compared with that
recorded in the six months ended 30 September 2012, resulting in a strong growth of the net profit of
the Group during such period.
This positive profit alert announcement is only based on the Company’s review of the draft
consolidated financial statements of the Group, which are subject to finalization and will not be
reviewed or audited by the Company’s auditors.
- 1 -
The Company is in the process of finalizing the unaudited interim results of the Group for the six
months ended 30 September 2013, which are expected to be published on or around 26 November
2013.
Shareholders of the Company and potential investors are advised to read the unaudited interim results
announcement of the Group when it is published.
Shareholders and potential investors are advised to exercise caution in dealing in the shares of
the Company.
By order of the Board
China Gas Holdings Limited
LIU Ming Hui
Executive Chairman
Hong Kong, 28 October 2013

I gave my targets six months ago.

17% rise Friday...
Very bullish coverage in the IC.....results by February..2sd interim.
Back in here 2 weeks ago and now this...