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.

CHEERS EVERYBODY I AM HAVING A GLASS OF CHAMPAGNE HAPPY DAYS!!!

But what has floated the boat these last few days, and especially today?

Queen, ssshhhhhh, just don't ask. Let's just bask.

I'm back to break even!!

This baby tried to pass 8p in May, 7.2 was the maximim since then.
I suspect next move should push it above 11p seen two years ago.

FTO . CBM update looks good,onward and upward***

if this was to go up 1p in a day most of us would die of shock ...def dont like moving this at a great rate of knots

biffa18 I really don't understand your post. I'd be delighted if FTO moved up 1p in a day. Especially if that trend continued over the course of a full week!

sorry q
Thats what i meant a penny rise even 2 would be brill but this..... up .2 down .2 etc etc like it has for last few months etc trys your patience somewhat but at least its looking a tad more exciting

Sorry b18, missed the point entirely. I remember the heady days of 10p.....!

well a bit more movement at last ........this could be a another jkx over time maybe not such a large rise but at least this has plenty of potential and in the right market area/region !!

I think a 1p rise is looming and then some more happy days.

I hope you are all right ive been sitting on this share for two years or more. I understand how you feel biffa.

blanche
yep def a bit boring i hold two hundred tho and also a recent large spread bet as well so maybe our time has come , i do think this will take off if management get it right and no big hicups in china region etc !!

results announced 27th april last yr so i take it same time this yr or there abouts so could be interesting few days ,

Fingers crossed and good luck to all in the same boat.

Roll on 26th April should in theory be all good news :-)

yep should be all good news but that is prob allready in the share price somewhat so looking for good write up on next yrs prospects or unexpected news otherwise prob 10p maybe is about all we will get short term ...........would be nice to have news of some new major shareholders buying in as well

Biffa
At this moment in time i`d be happy with 10p anything to get out of this trading band.

LONDON (Thomson Financial) - Fortune Oil PLC said its Fortune Liulin Gas Company Ltd (FLG) joint venture will recover 2 mln usd for past costs incurred in the Liulin coalbed methane (CBM) project by Molopo Australia Ltd.
Fortune Oil said it reached agreement with China United Coalbed Methane Corporation Ltd, the Chinese government agency responsible for the development of CBM projects in China.

FLG is 60 pct-owned by Fortune Oil and 40 pct by Molopo.

Fortune Oil also said it will announce its 2006 results on April 26, 2007.

Maybe the penny jump is coming, year end results should be exciting!!