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?

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

Well I'll stick my hand up for being a 'rat' but I've changed
my mind and deserted the ship I'm afraid - losses now cut.
But for those still with faith and money in FTO, I really hope
it does do well for you, I just can't hang about and have the cash
tied up for as long as it could take for things to really happen.
Be lucky!

Why Why Why Why Why..........can anyone explain please why FTO is going south?

Time to bail out...FTO is not making good progress. No news is a cause of going south

|In my opinion a lot of good news was already priced in,the sp has risen substantialy over 2yrs
The sp was only 1p in early 2003
There has to be profit taking before moving on.

is this all good or bad news for fto????????????????

Hehehe.....back in me thinks.
regards

I don't think so...still heading southwards.

Informative post from Mike on another site;


Hi all,

Was in Hong Kong a couple of days ago and managed to organise a short meeting with a reasonably senior representative of FTO.

Although he was obviously pretty cagey about giving me any price sensitive stuff, I managed to find some useful information.

Firstly the investment in the natural gas business is set to continue both in the short and long term, which for me as a long-term holder is good news, but for those hoping for a pause to allow the pe to fall in the short term maybe not so good, obviously depends on your personal outlook. He reiterated that the gas business is restricted at the moment to certain parts of the country by the lack of supply, but that this would change over time as the infrastructure is developed by the big oil companies together with the government, and that FTO, because of their good relationship with the oil companies and their track record would be able to take advantage when the infrastructure is ready. From what I have seen and read so far in China the Chinese are really rushing to embrace NG, and given the speed that projects develop over here once the money and the will is there, I would imagine the infrastructure will be provided relatively quickly (just a personal opinion).

Also told me that in the cities that FTO already supplies NG to the present take up is only a small proportion of the population, he cited Qufu, where at present there are 50-70,000 NG users, in a city of 500,000. I guess not all of the population will take up NG as their source of fuel, but seems to me there is a lot of potential for new users (given what was written in the report about NG being a cheaper option than competing fuels) without too much investment there, especially as he told me the reticulation systems are now operational for NG (which I personally hadnt picked up from the reports).

Regarding the PetroChina FTO co-branded gas stations in Beijing it turns out the company owns the third largest NG gas station in Beijing, which he said as a foreign company they like to keep a little quiet about. Now, Beijing has a target that 90% of their buses and 70% of taxis should run on NG by 2007, as part of their plan for a Green Beijing for the Olympics in 08. This target was set in 98 (if I remember correctly) so I am not sure how close the city now is to reaching the target, and therefore not sure how much room for expansion in demand for NG for transport there now is as a result. However, when asked he seemed quite confident that the gas stations were well positioned to benefit from any expansion (remember FTO owns one of the largest NG production plants in the Beijing area). Also, although I have no experience of transport in Beijing, if the system is anything like other Chinese cities such as Guangzhou or Shenzhen, about half of the traffic seems to be buses or taxis, and so there should be quite a substantial market for the gas stations, especially as we get closer to 2008 (again IMO). Also, as he told me, the NG production plants in the Beijing area are used not just for FTO distribution assets, the company also trucks gas from the plants to manufacturers and other businesses who require NG. So again as the Olympics beckons, and businesses have to meet stricter standards for emissions, there should hopefully be an increase in demand for FTOs gas.

I was also told that the company is not looking to leave the aviation fuel industry (despite the speculative BP rumours I have read occasionally on this bb), and that the aborted deal with CAO was more an attempt to gain a slice of a bigger cake in the industry than to take cash and shares to finance expansion in the NG side of the business. Given the results we got from Bluesky this is for me good news. Also it seems that the second terminal at Guangzhou airport (which was planned for from the beginning) has been speeded up due to bigger than expected demand. Having seen the airport first hand I would also like to think a second terminal may include more international flights (at present there are only two gates for international flights, and many many more for domestic), as I would assume international flights mean longer distances and so a larger fuel requirement. When I asked our FTO representative said that he expected that a second terminal would also mean an increase in cargo traffic, and that we may see expansion in this area at the airport before T2. This is because although there are alternatives for domestic passenger flights (and also a small number of internationals) at Shenzhen airport (about 2 hours drive from the Guangzhou airport), and also for international flights in Hong Kong, Guangzhou airport is much better facilitated for cargo than Shenzhen, and obviously causes less hassle to get cargo to the mainland than if it were flown into Hong Kong. I think we should remember that although the results from the new airport were good for last year, as has been said it was only operational for the last few months, so there should be much greater earnings this year, but also the traffic, both passenger and cargo, is likely to expand over the course of this year as businesses and people begin to make full use of it, and so this should be a very good earner for the future.

He also told me that any news about a second SPM, which I had heard there was a possibility of, would have to come from Sinopec (who own the Maoming refinery), and that at present there had been no noises in that direction. He also said that the possible RMB revaluation would have only a small effect on the companys earnings priced in dollars, as the revaluation would be small compared to the rate of growth of earnings the company showed over the last year (there would also obviously be a positive effect on the value of the companys assets priced in dollars).

When I asked him about the current share price, he told me the company had spoken to their brokers about the drop in price after the results, and the only reasoning they were given was that FTO stock is actually quite illiquid, and so a few people looking to sell could lead to the drop weve been seeing. He told me he personally was looking for about a 10% rise in price after the results, and was as surprised as any of us (as youd expect).

That was all the interesting definite info I managed to get out of him, however it was interesting to note that when I said theres been no new investment so far in 2005 more as a lead up to a question about anything in the pipeline he replied err we havent reported anything yet, no. I suppose that could be understood many ways, but gave me the feeling there might be something to be said soon (as I say just a feeling, dont take that as anything definite).

Hope this is useful for you, as I say it was difficult to get anything really meaty out of him.

Also a couple of interesting articles from yesterdays South China Morning Post:

Express Airways Plans Debut Flight in September
Hong Kong Express Airways says it will start flying to Guangzhous Baiyun International Airport from September after gaining rights from the government to offer scheduled air services to five mainland cities.
The Guangzhou flights, using Brazilian-made 76-seater Embraer 170 aircraft, will be followed in October by a launch of services to Hangzhou, in Zhejiang province.
Hong Kongs newest carrier, which is expected to take delivery of its first aircraft in July, was also approved for flights to Chongqing, Nanjing and Ningbo.'


'Carrier Records Boom'
'China Southern Airlines said it carried 3.63 million passengers last month, 44 percent more than a year earlier, as rising incomes encouraged more people to take holidays and business trips. Cargo volume rose 32% to 68,140 tonnes.'

P.S. China Southern Airlines looks to be by far the airlne with the biggest prescence at Guangzhou airport.

Hope that is all legible enough for you!

I was pretty positive about FTO before the meeting, as I said I'm looking at the long term, and was given no reason to change my outlook. Unfortunately dont have any money to invest, if I did though might well be looking to take advantage of the present low price.

Good luck all,

Obviously DYOR, but all honestly from the meeting or MHO,

Mike

Thanks PP--all very encouraging I was thinking of moving on but now I'm prepared to tuck away. cheers MP

more downwards ... below 6p now

a little tick up 2day

Got a positive comment from www.watshot.com today I was told !

about time too--at least this co. is making profits !

hellos traders
I was looking the 5 and 10 year charts trying to see a big picture and from the technical analysis it look ok because the sector is trading up but fto is doing a head and shoulder in a bad position, "we are in summer time" and lot of sector will need oil so the price could go up, is everything go well it could reach 7 or 8 p, OP can not control de prices any more.
we saw almost 60 dolares a barrel a few month a go , it is bad but is good for us .so we need lot of people buying and buying shares in this company.blue and blue and blue.
i dont see a 50p a share price in a short term .but could happen. i woul like to hear from you traders.
RICHARD

moneyplus are you here?

Yes--still waiting for the price to rise!! cheers MP

Ms ching li, Director bought 4,405,150 shares @ 6.75p on 15th June.