profits ahead of last years.the company has 80% interest in a joint venture with china national petroleum corp(cnpc).market makers bought a lot of stock on friday followed by big buys on monday.profit taking on tues am then buyers back in pm.any views?

well fto holders, wonder if we will get a new yrs rns about the latest Blue Sky situation i would think the bank must be aware of latest situation and be quite happy as they went ahead with purchase of 47mill shares , so must be good news on the way ,just when is the big ?

Well I think IMHO this could be entering a real milestone phase in this shares life. Looks like the charts point to 15p if we can break 10p. This wont be easy to break but my gut feeling is that within three months time we will be sat at 15p. An RNS is more likely to come Biffa18 ref what is to be done with the raised last month. I would imagine another deal or extension of an existing deal has already been struck. People are obviously confident this will prove to be a winner.IMHO

well we have started the year a bit poorer not a good start

Biffa18,

Of course we may have some retracement but this is building the strength needed to push for higher gains. Dropping the bid today looked like it was an MM ploy to flush out sellers. Offer held firm. Other boards are suggesting the 2*750000k buys were not rollovers but MAYBE someone trying to disguise 2 buys. Not sure if that is true but foor for thought. All the sells were again 'gobbbled up'. HHmmmmmmmmm....interesting.

UKB,

Back up this morning, you may well be right!

Well looks like that large late trade was negociated at a lower price too. I think more news to come soon. Things will likely stay at this level until until after the 15th Jan, once the DB business is out of the way. News could follow......and a hike in the share price. I'm considering buying more if under 9p Cant see it going any lower than this.

FTO has held at the same price since 11am this morning. Could they be waiting for some information before anything moves on!!!!

I am probably missing the point goss but is there some particular information you are expecting?

Not really willagg, its just that these shares are so up and down that it makes a change to see the top price for the day hold for so long. Just hoping that this share come good with the Blue Sky deal.

Goss,

Im not sure about you but I really see this share not as a hope but a nailed on certainty to go somewhere this year. Im looking for MIN 15p by the end of the year.

I hate a nailed on certainty...............Did i really just say that!!!!I think the Bluesky thing is becoming more erroneous to the share price as time goes by. China has a huge problem with a lack of energy and FTO are addressing both oil and gas supplies into the region. Even if they screw it up they could not be in a better market or geographical position where there is an amazing level of demand.

What chances a Chinese bid then ?

good point!This feels like a well run business. I hope they jusy keep on going , I have a very jaundiced view about takovers and acquisitions as they frequently dilute the share price for a long time.Organic groth is always the best to improve the value, profitability and the share price. IMO This could be one to make strong growth over a long period.

will,

Yep i go for organic growth with FTO, we will have a good year i think!!!

I reckon 15p by year-end 2005.

15p is very realistic I think although I think we could be looking at a little bit more than that too.

The bank has dumped but to who ....in this period of time has 123 mil shares been traded does anyone know ...so whatever has happened they must have been passed on to another party , and they didnt get them for nothing so obv thought they were worth buying, also have they sold all or just gone below the 3% mark interesting times ahead and they have a option to buy another 24mil sounds like someone stocking up but who.... or a party who wants a concilidation of the share total

Fortune Oil PLC
10 January 2005


10 January 2004

FORTUNE OIL PLC
('Fortune Oil' or 'the Company')

Holding in Company


Fortune Oil plc ('the Company') was notified on 21 December 2004 that Deutsche
Bank AG and its subsidiary companies were interested in 76,595,993 ordinary
shares of 1p each in the capital of the Company ('Ordinary Shares') representing
4.18% of the then issued share capital of the Company. On 22 December 2004 the
placing of 47,713,467 new Ordinary Shares with Deutsche Bank AG London to raise
approximately 4.4 million was completed and announced and as part of that
transaction Deutsche Bank AG was granted an option to acquire 23,856,733 new
Ordinary Shares.

On 7 January 2005 the Company was notified that Deutsche Bank AG and its
subsidiary companies no longer had a notifiable interest.


ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman

ICIS Limited Tel: 020 7651 8688
Caroline Evans-Jones




This information is provided by RNS
The company news service from the London Stock Exchange

Biffa,

I think and I may be wrong....but DB have obviously got these for someone else. A there is no reason to buy and sell so quickly and B the price would have gone tits up if they had just sold them. In my opinion, something else is brewing and I am more than convinced it is very positive. Somwone knows something and by the time we know, this price will be a thing of the past. I think single figures goodbye, double figures hello. What are your view Biffa, or anyone else?

We are here to help and share our views.

that would be very nice news if that is the case ukbambammatt,however they still got the bluesky deal too sale???????????????????????

i see that BP according to their web site still have 24% of bluesky so these ideas/rumours of BP involvment could be true ! i have sent email to BP to see if they can confirm this holding , BP say that they want to increase there exposure in china so fto would possibly be a safe way of increasing this , but with the amount of shares moved by the bank you would expect a rns about a increase in percentage holding in the near future
Also i wonder if the bank moved the options as well or still hold
But if BP did get involved now that would shift the sp a tad