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?

I'd quite like you stockbunny on toast with cheese....or is that something completely different?

MORONS....stick to the thread please

I would rather stick to fluffy ears jammyjimmy :-))

Jammyjimmy.

No one is stopping you from posting, so what is it you want to say about FTO.

Please jammyjimmy do enlighten us. Where are your pearls of wisdom (or perhaps Fortune cookies would be more appropriate)?

whats going on with fto ???????????? have they sold the bluesky deal yet??????????/

This one is really trying my patience now...

Understandable Queen1 to be honest, I am so tempted to get into
FTO but the lack of real movement beyond this level is putting me
off a bit but there again....it's a tough one to decide on!

Well stockbunny, if it does manage to break the 10p barrier all of the portents suggest that the (blue) sky's the limit. Market conditions, Chinese demand, raw materials costs etc. However, for some reason that "if" seems still to be a big one.

Nobody is looking in this direction at the moment. This is supposed to be the time canny investors pick up bargains--I've bought in so hope I don't have to lose too much or wait too long!! we want NEWS!

I find the drop below 8p a concern. There must be some negative influences and opinions to do with this Bluskey deal or it would be heading North

Oil prices heading South?

Queen1 - agree with you, those are the reasons why I'm in GFM

glad to see your sticking to the thread bunny

Hi Loadsa! Long time no see!!
Sticking to it...got no choice, it's the treacle
;>)

Are you sure its not the marmalade or Jam perhaps?

;>)

Stockbunny - Nice to have agreement on the BB's. The world's always a better place with a kind word and a winning smile :-) (especially when you're waiting for your Fortune...)

Fortune Oil PLC
03 February 2005




3 FEBRUARY 2005

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

BLUESKY UPDATE

Further to the announcement dated 25 January 2005 by China Aviation Oil
(Singapore) Corporation Limited ('CAO') detailing their proposed scheme of
arrangement, the Company would like to confirm that Fortune Oil is not a party
to this restructuring proposal. The Company would also like to confirm that the
Sale and Purchase Agreement between CAO and Fortune Oil PRC Holdings Limited as
announced on 5 February 2004 has lapsed. Fortune Oil continues to retain its
24.5 per cent. interest in South China Bluesky Aviation Oil Company Limited
('Bluesky') and currently Fortune Oil is not seeking a buyer for Bluesky.

The Bluesky business continues to exceed expectations with significant growth
opportunities and the operations have not been affected by the problems at CAO.
In 2004 the jet fuel sales volume was over 1 million tonnes, a 33% increase over
2003. The prospects have been further enhanced by the recent government approval
of the plan by FedEx to build an Asia cargo operations centre at Guangzhou
Baiyun International Airport and the recent announcements by China Southern
Airlines of agreements to purchase thirteen new Boeing 787 aircraft and five new
Airbus A 380 aircraft to significantly increase its fleet based in Guangzhou.

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

Oriel Securities Limited Tel: 020 7710 7600
Simon Bragg
Natalie Fortescue

ICIS Limited Tel: 020 7651 8688
Archie Berens or 07802 442 486




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

barney,

Thanks, that looks quite positive for FTO, IMHO.