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?

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.

e-mail back from Fortune--results day 28th April. no comment on what to expect but I hope they are good!

Looks like its good fortune for Fortune Oil.

......We are one of the few international companies operating in both the oil and gas
supply industries onshore China. In contrast to the major international oil
companies, we are partners rather than competitors with the domestic oil
companies. The Company now has over ten years of experience in operating such
partnerships and in 2004 your management admirably proved its ability to handle
the challenges and to deliver value to the shareholders......

Reading through I thought it looked pretty good, I see the share
price did go up earlier today, but sadly is now showing the too
familiar red colour!

Great results.
Profits doubled and burgeoning demand for both gas and oil. Future growth can be sustained through the arrival of the Shaanxi-Beijing pipeline in July which will remove the supply-side restrictions for CNG.
Shrewd investments in oil and diesel import facilities have complimented China's status as a 'world leading'importer of fuel oils since the sectors liberalisation.
Even Bluesky has become a deserved asset- +49% net profit- with China Aviation Airlines due to expand its fleet alongside the arrival of Baiyun international aiport.
This year was described as 'exceptional'('even though GDP only grew by 9.5%'!). Fortune appear to have much of their operations in the right place and at the right time and with very lttle prospect of multinational competition. From an general perspective the partial transition to capitalism seen in China may be followed by the demands of her people. Perhaps not as indulgent as the U.S but think lifestyle, increased per capita wealth and ultimately ever-increasing demand for energy.
Would expect FTO to close higher today.
thanks tau.

Agree with you tau. Very good news. T/O up 10%, Net profit Doubled to 2.6m (2003 1.3m) EPS up 78% to 0.16p (2003 0.08p) This looks very promising.

Price has now leveled off and stablised thankfully!

Stablised!!!!!!!!! I have held these shares for sometime and the word stablised is alien to Fortune oil. Even now the share price has dipped somewhat. With such good results I fail to see why the share price is so unsure.

Any Views anyone!!!!!!!!!!!!

Sorry Goss but when I posted it had recovered to a 'green'
position so had got back to a 'stable' position having been
down. But of course I understand what you mean and I can't
see any reason for the share price level currently - good report
and it's not as if there has been a flood of new shares issued
in the last couple of days.

I'll give it a bit longer and if it does nothing I'll cut my losses.

buys outweighing sells by over 1mln, but this means nothing if the market is down- not entirely sure why it is even called a market??
Would be nice to see some positive press over the next few days but the approaching election may stifle things until the next week is over. The Dow has also opened lower, meaning even those shares that were blue this morning are currently being marked down and slipping into red.
The good thing is that none of this affects positive fundamentals.
Yesterdays rise may be attributed to todays sells as traders move on.

slightly off post - but I hold Legal & General shares - and yesterday they posted "truly Exceptional results " - up by 37% in a tough market - and their share price has dropped to its lowest since before Xmas - this is a crazy market. and logic does not seem to apply very much at the moment.

Baza