Main Web Site : http://www.fortune-oil.com/

CBM Partner Web site : http://www.molopo.com.au

IC Write Up : 21st Apr 2006 IC Write Up

Last Major News : 18th Apr 2006 Coal Bed Methane Project

Prelims : 27th Apr 2006 Prelim Results Link

Latest Broker Forecasts : Oriel 7th April 2006 BUY

Prelim Results and Further Updates due around 25th to 27th April 06

ABOUT FORTUNE OIL

For over a decade Fortune Oil PLC has focused on investments and operations in oil & gas infrastructure projects in China and remains one of the few overseas companies operating oil terminals and supplying natural gas in China, all in partnership with the countrys largest oil & gas companies
Fortune Oil PLC is incorporated in England and Wales and is subject to UK Listing Rules and compliance regulations. The largest shareholders are First Level Holdings Limited, Vitol and major Chinese state-owned corporations.

NATURAL GAS :




China will be the world's largest growth market for natural gas as supplies of this clean and economically attractive fuel become more accessible. Fortune Oil's investments in natural gas are principally through Fu Hua, a joint venture with a PetroChina affiliate, which on-sells gas from the pipelines supplying Beijing. In north China Fortune Oil controls and operates distribution pipelines and city gas reticulation systems as well as facilities to produce and transport Compressed Natural Gas (CNG).
Fortune Oil is now one of the leading providers of CNG in Beijing, providing clean fuel for buses, households and factories. In October 2004 Fortune Oil also became the first overseas company to supply LNG (Liquefied Natural Gas) to users in China, delivering LNG by road to the ancient city of Qufu, the home of Chinese philosophy.

OIL TERMINALS :
Maoming SPM

Fortune Oil established the Maoming Single Point Mooring (SPM) in December 1994 to supply crude oil to Sinopecs Maoming refinery, the largest in southern China. The SPM now delivers 10% of Chinas crude oil imports. It allows VLCCs (Very Large Crude Carriers) of up to 280,000 tonnes to moor and deliver crude oil via a 15 km sub-sea pipeline. The SPM is owned and operated by a joint venture company, Maoming King Ming Petroleum Company Limited, and the other main shareholder is Sinopec Maoming Petrochemical Corporation.
The SPM buoy is commonly used throughout the world for loading and unloading liquids but the Maoming SPM remains the only buoy system in China used for importing crude oil. Fortune Oil believes that the SPM concept is a cost-effective solution for importing crude oil into China as many ports are shallow and will become more congested as demand increases. The only alternative to a buoy system in many ports is to dredge channels for large tankers. The SPM has provided significant cost savings to the Maoming refinery through its low operating costs and VLCC capability.

Products Terminals

The oil products market in China is in the process of deregulation and this will allow a larger role for foreign companies in the import and distribution of refined products. Fortune Oil remains one of the few foreign companies with interests in products terminals.
Fortune Oil and Vitol jointly developed the West Zhuhai Oil Products Terminal at the western entrance of the Pearl River Delta. These facilities came on stream in 1998 and comprise 240,000 cubic metres storage and jetties for receiving and distributing refined products. It is one of the few products terminals in south China able to handle 80,000 dwt ocean-going tankers. A controlling stake was sold to PetroChina which uses the terminal for supply of diesel to south China.
In addition Fortune Oil controls a LPG terminal and supply business (Fu Duo), which has 80,000 customers in Zhanjiang city, and owns storage facilities in Shantou. Prior to the restructuring of the China oil industry in the late 1990s, Fortune Oil was also a major participant in the gasoline retail market and in oil trading. We continue to operate two gasoline stations in Beijing but our trading activities are limited to low-risk domestic trading.

Blue Sky Aviation Oil

The South China Bluesky Aviation Oil Company owns and operates the refuelling infrastructure at 15 airports in south China. These include Wuhan, Guilin and the new Guangzhou Baiyun International Airport. Fortune Oil and BP each hold 24.5% of the joint venture and Beijing-based China Aviation Oil Supply Corporation (CAOSC) holds 51%. The consumption of jet fuel in China is rising significantly, particularly at Guangzhou because of pent-up demand in the Pearl River Delta.
The new Guangzhou airport was opened in August 2004. The construction cost was US$2.3 billion and it is almost four times the size of the old airport in downtown Guangzhou. The new airport is capable of handling 25 million passengers and 1 million tonnes of cargo per year and ranks number three for aviation fuel sales in mainland China.

Todays report Truely amazing results what a company and so bloody cheap ha ha he he BRIL

Totally agree with the internal market still growing there will be more of this FANTASTIC

Good volume today, may break the record. Then will jump..

maybe ; based on news this morning this is one of the safer Aim shares and at this price a gift !

No movement today at the end after being 20% up this am is `CRIMINAL`

Here you have a company that has come out with cracking news today and no movement and then you have companies like cape diamonds and frontier that have moved up over 300% on no news thats criminal.

Do you want to buy cheap? That's your chance. I'm adding as we go.
I still hold from 13.2p.

Looking at the trades board, not exactly encouraging. pepes not piling in.

Balerboy, Ive held this share for years as i thought it was a gr8t long term prospect, But it never does anything,It should be 20-30p really, not many aim stocks report figures as positive as this did!!! Oh well i suppose i will just hang in there as always.

You stick with your GAS Blanch, lol.....????

Get some dosh in it Balerboy, You know it makes sense.

Very red trade board, is it sinking?? Am temped with gas, smarting a bit because I had these from 2.9p and chickened out at 3.2p now look at what I could have had
gggggrrrrrrrrrrr........
Have bought some MTA.

STAY COOL DIRECTORS BUY AND A LARGE GAME PLAY GOING ON

Something big is building up !! could be interesting!!!!!

RNS.DIRECTORS BUY:) :)

RNS, Another Directors buy. ;))

end of May

stepping up nicely this morning following RNS further evidence of growth and the massive potential here

ticking up nicely 9% + today

China looking at boosting private role in industry
China may encourage private investment in railways, other state-dominated industries

* On Tuesday May 26, 2009, 6:54 am EDT

*
Buzz up!
* Print

BEIJING (AP) -- China says it may encourage private investment in state-controlled industries such as railways, oil and power generation in an effort to boost the efficiency of the world's third-largest economy.

The announcement Monday by China's top planning agency comes as Beijing tries to boost growth and combat the impact of the global downturn. It would affect areas deemed strategically important and key to national security.

The government will "speed up research into encouraging private investment" in oil, power generation, telecommunications and other fields, the National Development and Reform Commission statement said.

The move is also aimed at countering monopolies or quasi monopolies in various industries, a legacy of decades of centralized planning.

Major state-owned companies, many of which are under direct Cabinet control, enjoy strong advantages in obtaining financing, share listings and contracts. Usually headed by Communist Party officials, they can also wield strong sway over setting industry policies.

While that may not change, the NDRC statement reiterated the leadership's concern over structural problems that have been aggravated by the global downturn and require fundamental reforms.

The statement gave no indication that foreign investment might be allowed in such fields or when a decision might be announced.

But the communist government's willingness even to consider such a change reflects urgency over reviving economic growth.

Beijing has been building up elite government-owned companies to dominate domestic industries such as oil, telecommunications and finance. But officials acknowledge such companies are so far much less competitive than their private counterparts elsewhere.

China has sharply reduced the government's role in the economy since the launch of reforms in 1979. But economists says it has to push ahead with more sweeping changes if it hopes to continue economic growth and boost incomes.