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?

Does anyone have any idea as to why?

refer Barneymam`s post of 3rd February which closes out sale of Blue Sky holding and with oil hike and pre-sales at lower prices possibly similar to China Aviation mixed with general uncertainty, gives us the current price and unless something good occurs I see the price lowering to 5p +/-, which may be a good time to step in. There does seem to be little confidence in the `something good` occurring though !!!!

Jet fuel price hike to hurt Chinese airlines' profitability in 2005
AFX

BEIJING (AFX) - International ratings agency Fitch Ratings said the recent 10 pct hike in domestic jet fuel prices will hurt the profitability of Chinese airlines in 2005.

'Given jet fuel expenses constitute roughly 30 pct of Chinese airlines' operating costs (the single largest operating cost component), a 10 pct rise in jet fuel expenses will likely cause a parallel three pct increase in operating costs,' the agency said in a statement.

But Fitch said that China Southern Airlines' existing 'BB-' rating remains unchanged despite the fact it is likely to be severely hit by the price jump.

The agency said it expects the price hike to reduce China Southern's operating profit by between 900 mln yuan and one bln yuan in 2005 from the 2.8 bln yuan forecast before jet fuel prices were raised.

'Notwithstanding this, Fitch expects China Southern's key credit ratios to remain within acceptable levels for its current 'BB-' (BB minus) ratings,' the agency said, noting that the cash impact of the fuel price increase will be partly offset by the airline's traffic and revenue growth.

But, Fitch warned that further increases of this magnitude in jet fuel prices over the short term could threaten the airline's ratings, or the rating outlook.

Fitch said a few large airlines with international operations, such as Air China, will be less affected by the price increase than their domestic peers because they are allowed to purchase jet fuel at foreign destinations when serving overseas routes.

Historically, Chinese airlines have purchased most of their jet fuel from the monopoly supplier, China Aviation Oil Supply Company, at the rates set by the National Development and Reform Commission (NDRC).

Although the NDRC sets domestic jet fuel prices by referencing international market prices, due to the time lag and frequency of adjustments, prices paid by Chinese airlines have been substantially higher than international prices, Fitch said.

The FY 2004 Estimates are :

PBT 6.3M
EPS 0.14
EPS Growth 8.79%
PER 51.79
PEG 5.89
Price to Sales Ratio is only x 2.13 - market average figure which helps the low risk grade, Risk Grade being a low 189 now.

FTO turnover is in growth and so is profit in growth.

Matching these est. figures above would provide a rather large boost to FTO. These figures above being from Oriel on the 3rd Feb 2005, who recommended BUY.

Exceed the figures above and...well, make your own mind up.

As good a chance as any to buy more, RSI looking oversold, ready for a bounce.

I think this is purely an MM play to loosen up stock in advance of good resutls, IMO. MM's are making the most of the end of the tax year.

fto smply dont want to cross the 8p line do they???

still a good long term investment i think, but really annoying that we are
still stuck in this range, we may even head lower!!!

A new web site now on line.


http://www.fortune-oil.com/en_us/index.htm


A new start with the coming results - lets hope so !!

lots of buys today
things are hotting up looks like good fortune

all buys this morning too - must tick up a shade soon?

does anyone know any news about fto????????????? like what the company is doing with bluesky etc etc.................. i thought the company was good,if anybody knows any news do tell,thanks :)

I am afraid I have finally given up with FTO.

Have held the shares for over a year - they gave a quick return - then nothing but promises - so I sold and invested in SEO - doubled my money in less than 6 weeks.

Good Luck to those still holding - I like you, think there is good news in the pipeline - but I have thought that for the last 12 months

Baza

results must be due very soon-hope they put some life in the sp.

I agree with bhunt...running out of patience with FTO...no news for a long, long time. Share price going nowhere.

DB bought at 9.25, IF I REMEMBER CORRECTLY. I wonder why they let it fall if there is no problem with the company. Aren't they worried about the fall? Are they fooling the market?
I was watching PTY today. I hope we see such kind of movement in here.

China Says 1Q Growth Exceeds Expectations (9.5%)

http://abcnews.go.com/Business/wireStory?id=686558&CMP=OTC-RSSFeeds0312

results are due at the end of the month,thought we may have had an update or an announcement as to which day.

Should be good news all round or so you would think with high oil prices coupled with the growth in China.

not many posts recently, we seem to be running out of steam!!!

The reason for a deadlock in this share is the usual lack of news but maybe when the results come out there will be a positive update from the company.Anyway I bought at 1.98p and still think it has a long way to go.

No mention of Fortune Oil's financial results in the papers for the forthcoming weeks so maybe next week.

have mailed the company to ask and say are there any other positive statements due out as I am disappointed at the lack of movement in the sp in comparison with similar companies. saw on their website results due end of April-must say I was quite impressed by the website. fingers crossed for good results.