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?

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.

By the way of trades recently and price movement I think one MM is filling a buy order. They do not like the increased buying today and are having to move the bid and offer up, when in fact if the recent large selling was not allocated, they would not have to respond as much as they are.

If the mid moves through 7p then it should move up faster from there in my opinion.

lets just keep our fingers crossed for fto????????????

It was a good solid end to the day yesterday so some more today and we might be starting the big push up before results.

Pushing up for higher ground now, looking strong again.

for an oil co. that is making profits--why is the sp so low??

They are not just making profits, their profit has doubled and the eps went up 78%. maybe when the results come out on the 28th September we will see some of the big buyers taking notice.

The main thing to look for at the interims is how much EPS growth is expected for the full year and giving the same growth what is expected in 2006. Presently they have a conservative estimate of 0.25p in 2006, but if as is expected the aviation fuel growth is massive and also the CNG side is due to add into this then later we should be looking for an EPS in 2006 of potentially 0.45p, this would give at 9p a prospective PER of 20 (down very much from pevious times of pr PER of 40) and would make 8p to 9p a reasonable level to be trading at in my opinion.

The important thing with FTO is the pr PEG factor, which is low and supports a high PER, a high PER is only adverse if the PEG is also high, a low PEG and high PER is fine for a growing stock, and with FTO the EPS growth is very strong.

nice little 400 gone thro things should begin to hot up over next few days on spec alone , so have taken a nice large spread bet to close before results just in case ...so prob will go down from now on !!

Going up well today.

It will be a buy if it passes 10p. Not yet though!