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?

Nothing like a couple of joint ventures would put this thread back on track.It is not the greatest company for newsflow.

Biffa18, still hanging on in here but there's not been much to comment on recently.

I'm still holding, but lack of newsflow means there's not too much to discuss.

MACD may be going positive, keep an eye on the chart above!

i see they have been playing with share price so someone could top up a few

i have held these shares for 5 years now,should have got out at 10p!!!!!

How many times i have said that only to get caught out as i did in ashtead bought 2000000 at 2.5 sold @8p and thought i did well which i did !! now over a quid what a bummer ,now hold 2mil of these and i am not selling !!
the director has topped up a few which is a healthy sign of sorts

ANy idea about the result? Can it be bad?

Looks like there is a large buy order to fill with good gains yesterday and today again so far. Results are due on around the 28th of September.

Is doing well today with the offer over 7p.

Link


CHINA PRESS:Sinopec,CNPC To Form JV;End Jet Fuel
Monopoly
Aug 04, 2005 - 21:07:30 HKT
Dow Jones Newswires
BEIJING (Dow Jones)--China Aviation Oil Holding Co., China Petroleum &
Chemical Corp., or Sinopec Group, and China National Petroleum Corp. will
set up a joint venture company this month that may end CAOHC's
monopoly of the aviation oil market, China Business News reports.
CAOHC will hold a 51% stake in the new joint venture company, while
Sinopec Group and CNPC will hold 29% and 20% respectively, CAOHC's
spokesman Bian Hui tells the paper.
CAOHC is the parent company of China Aviation Oil (Singapore) Corp.
(C47.SG). Sinopec Group is the parent company of Sinopec Corp.(SNP),
while CNPC is the parent company of PetroChina Co. (PTR)
Sinopec Group and CNPC also plan to team up with China Ocean Aviation
Group Inc. to set up an aviation oil joint venture.
China Ocean Aviation is a state-owned enterprise and has a wide range of
businesses that cover ocean and air transportation and engineering.
The three parties have submitted a primary proposal to the General
Administration of Civil Aviation of China for approval.
Once the proposal is approved, the three parties will come up with a
working plan on how to form the joint venture, the paper reports.
Currently, the supply of jet fuel and jet fuel storage facilities in China are
fully controlled by CAOHC, the paper reports.

This could change things very positively for Fortune Oil and the market seems to like the news as FTO is going up again.

Had a good strong day yesterday and could be another today as this news has had time to be digested now.

Fortune Oil PLC said its Fu Hua unit has successfully commissioned the Compressed Natural Gas station at Tongzhou in Beijing.

The station is one of the largest in Beijing and will sell gas for use by households, businesses and buses in Beijing suburbs.

The company said it sees the demand for natural gas for transport growing in Beijing as a result of the city administration's push to reduce air pollution by increasing the use of natural gas-powered vehicles.

It has already announced a plan to increase the number of gas-powered buses from the current 2,100 to 5,000 by 2008.

newsdesk@afxnews.com

As we know four months,they announced that profits for the year had doubled,also earnings per share went up 78%. At the time the chairman stated that they expected China to continue its strong upward trend. Todays announcement is very good news for the company and also for shareholders.

could this be the start for FTO that we have been waiting for????

I have held these for a number of years,bought some more recently,
they are starting to look good again.
All positive news.

well some interesting trades today a sea of red but not all sells tho

BBulls site posted a Buy Confirmed now.

With a string of good news from the company and with the ever increasing need for oil in China plus the move by FTO to get into CNG supply as well, will we see a strong move up into results as it normally does ?

Results due 28th September and is around 20 trading days to go.

well hope they are right hold quite a few of these in profit (small) but this is a boring share if watched every day but rumours are stock building in back ground by whom tho ? we will see if correct on the 28th pos

biffa18 if it does its normal rise into results then there is a chance of over 9p. We will have to watch how it builds up in the next few weeks.