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.

its normal for this one sad to say I have often asked myself the same question after each good news release

SP was up today but still firmly in the 5-6p range.....

FTO BUSINESS DEVELOPMENTS .MORE GOOD NEWS MIGHT MOVE SHARE PRICE???

Business Developments


Fortune Oil is pleased to announce the following business developments:


Natural Gas Supply


Sales of natural gas continue to grow strongly and there have been no supply
interruptions during the winter. Throughput at the Tongzhou CNG station is
currently averaging 260,000 cubic metres per day compared to 180,000 cubic
metres per day one year ago.

Approval was recently obtained from the Ministry of Commerce to establish
Fortune Gas Investment Company Limited, a 100%-owned holding company to be
registered in China. This holding company will help implement the Company's
strategy of creating an integrated gas business.


Bluesky Aviation Refuelling Joint Venture

The Bluesky business continues to perform well and the government-mandated
compensation mechanism remains in force, as expected. The rebate paid by
domestic airlines to Bluesky in the fourth quarter 2006 was RMB 320 (US$41) per
tonne. The first quarter 2007 rebate is lower at RMB 140 (US$18) per tonne,
reflecting the decrease in international jet fuel prices which are now closer to
domestic jet fuel prices. Rebates in respect of periods prior to the second
quarter 2006 are still under investigation by the government.


Oil Products Supply

In December 2006 the West Zhuhai Oil Products Terminal was granted a licence to
store bonded-status products. Discussions are now in progress with third
parties to use the terminal for supplying gasoil to destinations such as Hong
Kong and Macau. The new licence will also enhance the Company's own trading
operations in China, which currently include the import of bitumen and base oil
and the export of chemicals, primarily on a low-risk agency basis.

The Company will provide further information when the preliminary results are
announced for the year ended 31 December 2006 in April 2007.

LONDON (AFX) - Fortune Oil said sales of natural gas are still growing strongly and there have been no supply interruptions during the winter.

In a business update, the firm said throughput at its Tongzhou CNG station is currently averaging 260,000 cubic metres per day, up from 180,000 cubic metres a year ago.

The company also said that it has obtained approval from the Chinese Ministry of Commerce to establish Fortune Gas Investment Company Limited, a wholly owned holding company that Fortune said will 'help implement the company's strategy of creating an integrated gas business'.

Its jet refuelling Bluesky business 'continues to perform well', said Fortune.

The firm said that is in third party talks to use West Zhuhai Oil Products Terminal to supply gasoil to places like Hong Kong and Macau, after the terminal was granted a licence in December to store bonded-status products.

The new licence will also enhance the company's own trading operations in China, added Fortune.

newsdesk@afxnews.com

10p?

I HOPE THEY DO ahoj DOING OK SO FAR TODAY.

Article in Shares today P12 sums up what we already know huge potential a dark horse much better outlook than a lot of these tiddlers. Latest News today points to the massive internal Chinese market and surrounding asian market and A1 progress in supplying these markets while increasing production yields at the same time. This must point to a strong future.

FTO HEADING NORTH AGAIN !!

Thought I'd bring this one back to the top, felt a bit sorry for it after seeing all the excitement over on the Chaco thread.

Closed just over 6P today, up a little. Perhaps we should be full of hope; dunno why though, not much has ever happened to justify any kind of hope. I have Alizyme too, you see. Oh, and Designer Vision. And, er, Sterling Energy ZZZZzzzzzzzz

FTO SEEMS TO BE WAKING UP?

Indeed it does :-)

Ive been holding this stock now for 12mths expecting a good rise on the sp. I cant understand why it isnt moving, there always seems to be good news coming from them,and I think here we go then. BUT NOTHING! Why can anybody help?

I HAVE HELD THESE FOR A NUMBER OF YEARS AND DONE OK.SHOULD HAVE A GOOD RUN UP TO RESULTS AT END OF APRIL.

Many thanks cwmam i hope so. What do think topside will be?

IN MY OPINIAN LONG TERM THIS COMPANY HAS HUGE POTENTIAL.D.Y.O.R.

FTO HAVING A GOOD DAY.

I bought these at 1.7p about 4 years ago. Saw them rise to 10p, sold part of my stake on the way and have seen them float from 5-6p ever since. Could this be the breakout?

WHOOPEE!!!!!!!!!!!!

Will we now see that same old sinking feeling again associated with good News regarding this share.