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.

Nice little 20% increasesounds like good news tomorrow

Blast ! missed this.....if I'm in : it does nothing if I'm out it rockets...done that for years.

I am still holding these interims today!!!!!!!

RNS Number : 0698Y
Fortune Oil PLC
27 August 2009




27 AUGUST 2009

FORTUNE OIL PLC

('Fortune Oil', 'the Company' or 'the Group')


Half Year Report for 6 months ended 30 June 2009


Fortune Oil invests in and manages oil and gas supply and infrastructure projects in China. Fortune Oil is quoted on the official list of the London Stock Exchange and has its headquarters in Hong Kong.


FINANCIAL HIGHLIGHTS


*

Strong increase in Group revenues of 27 per cent to 184 million (1H 2008: 145 million).
*

Group operating profit improved 13 per cent to 7.3 million (1H 2008: 6.4 million).
*

Group profit before tax increased 3 per cent to 5.6 million (1H 2008: 5.5 million).
*

Profit attributable to shareholders down 35 per cent to 1.9 million (1H 2008: 2.9 million), largely due to Bluesky, whose profit contribution reduced by 1.9 million compared to 1H 2008.
*

All of Fortune Oil's other operating businesses produced a higher net contribution in the period.
*

Gas distribution operating profit increased 73 per cent to 4.0 million, now the largest contributor to the Company's profit.
*

Net cash position of 3.0 million as at 30 June 2009 with Group cash balance of 52.9 million.


OPERATIONAL HIGHLIGHTS


*

Gas sales in 1H 2009 increased by 45 per cent to 225 million cubic metres.
*

The Liulin CBM block has now produced sufficient gas to apply for reserves certification for the northern section, gas sales planned to commence in 2010 as a unique State Pilot Project.
*

Volume sales of jet fuel at Bluesky rose 13 per cent to 1 million tonnes.
*

Earnings from Bluesky were impacted by government pricing policy, which only stabilised in May; Bluesky's profit contribution is expected to increase significantly in the second half.
*

Maoming SPM throughput increased by 8 per cent despite a one month shut down to renovate the buoy system.
*

Recent appointment of Mr. Tee Kiam Poon as new business development director, previously responsible for instigating many of BP's projects in China.


Mr. Qian Benyuan, Chairman of Fortune Oil, commented:


'All of Fortune Oil's businesses produced a higher net contribution in the first six months compared to last year, apart from Bluesky. Bluesky continued to be impacted by domestic pricing policy in the first quarter, a situation that has now stabilised, providing the business with a more positive outlook.



'We are continuing to expand our integrated gas network, particularly in CNG and LNG, and we are developing further partnerships across the oil and gas industry. Fortune Oil will continue to be at the leading edge of developments in the supply of energy for China, which has emerged from the past year highly confident, both domestically and on the global stage.'

These price movements are beyond belief.

Investors chronicleLittle-noticed Fortune Oil continues to steadily build on its integrated footprint across the potentially high-growth Chinese domestic gas sector, which we anticipate will be a very rewarding business in years to come.
we retain our buy recommendation at the current price of 7.5p.
Strong buying again today.and far from boring

Starting to look very interesting.

Bought at 8.21 just after the open.Lots of movement.

Surely not the three quarter page Mail article causing this buying?

Large buy just shown

RNS Number : 7205A
Fortune Oil PLC
14 October 2009








14 October 2009



FORTUNE OIL PLC

("Fortune Oil" or "the Company")


Liulin Coal Bed Methane Reserves Report


Fortune Oil is pleased to announce the results of an independent resource evaluation of the Liulin coal bed methane ("CBM") block in Shanxi Province by petroleum consultants Netherland, Sewell & Associates, Inc. ("NSAI"). This is an update of the initial evaluation conducted by NSAI in March 2008. In addition the Company provides an update on the field appraisal activities in the Liulin CBM block.


Highlights


*

NSAI has upgraded the gas resource estimate in the Liulin block, almost tripling the possible reserves to 84.8 bcf (compared with 29.7 bcf previously) and accrediting 1.4 bcf of probable reserves, using the field data to 30 June 2009.
*

NSAI estimates the value of Fortune Oil's 31 per cent net share in the Liulin block to be US$193 million (121 million), as the present value sum of probable and possible reserves and best estimates for unrisked contingent and prospective gas resources, assuming China United Coal Bed Methane Corporation Ltd. ("CUCBM") takes up their 50 per cent participation interest in the contract area.
*

Application for reserves certification for the northern section of the block will commence in October.
*

CUCBM has spudded the first of 2 lateral wells in the northern section of the block and will drill a further 17 vertical wells by end 2009 under the State Pilot Project in co-operation with the Company's subsidiary, Fortune Liulin Gas Limited ("FLG").
*

The Liulin area continues to benefit from significant state-funded infrastructure investments, including both road and rail links, which should assist the development of local and regional markets for Liulin gas.

Very positive Liulin update assisting this so called boring stockstill gets me excited!

Acquisition of Minority Interest in Liulin (Fortune Oil)



TIDMFTO

RNS Number : 5336C
Fortune Oil PLC
16 November 2009

?
16 November 2009


Fortune Oil PLC
("the Company" or "Fortune Oil")


Acquisition of a Minority Interest in Fortune Liulin Gas Company Limited




* Acquisition of Molopo Energy's 26.1% interest in Liulin Coal Bed Methane block.

* Gives Fortune Gas 100% of the Foreign Contractor rights in the Liulin CBM block.

* Acquisition is for US$6m (US$4m cash, US$2m in new Fortune Oil shares).

The Board of Fortune Oil PLC is pleased to announce the acquisition of a 26.1
per cent minority interest in Fortune Liulin Gas Company Limited ("FLG") held by
Molopo Energy Limited ("Molopo"), formerly known as Molopo Australia Limited
("the Acquisition"). FLG is the Foreign Contractor party to the Production
Sharing Contract (PSC) for the Liulin coal bed methane (CBM) block in
Shanxi Province.

RNS Number : 7555D Fortune Oil PLC 08 December 2009


JTC Trustees Limited buy 36 million shares

Auto sale in China passed 1Mln in November

RNS Number : 3591E
Fortune Oil PLC
18 December 2009

?


18 December 2009




FORTUNE OIL PLC
("Fortune Oil" or "the Company")


Strategic Coal Bed Methane Investment by Arrow Energy International


Fortune Oil is pleased to announce a major strategic alliance signed today with
Arrow Energy International ("Arrow"), a leading Asia-Pacific coal bed methane
("CBM") company, including a staged investment in Fortune Liulin Gas ("FLG")
which operates the Liulin CBM project.


Highlights


* The strategic alliance with Arrow will strengthen Fortune Oil's integrated gas
business, combining Arrow's upstream CBM expertise with Fortune Oil's gas
distribution capabilities and extensive operating experience in China.

* The alliance will extend beyond CBM to the recovery of gas from coal mines,
which is a priority area for China in tackling coal mine safety and climate
change.

* Today Arrow has made an initial investment of US$8 million (GBP5.0 million) in
relation to the Liulin project. This amount increases to a total of US$13.3
million (GBP8.2 million) (of which US$6 million will be invested in FLG and
US$7.3 million will be paid to Fortune Green Energy Limited ("FGE")) for a 35
per cent interest in FLG, following the extension of the Liulin Production
Sharing Contract ("PSC").

* Arrow has been granted the right to invest up to a further US$12.7 million
(GBP7.9 million) in FLG (plus a bonus payment dependent on the level of probable
reserves) for a further 15 per cent interest in the enlarged share capital of
FLG.

* Arrow has been granted a further option to acquire from FGE a 25 per cent
interest in FLG for US$40 million (GBP24.8 million), one condition for which is
that Arrow and Fortune Oil must have co-invested in at least two other CBM PSCs.

* Shell, which owns 10 per cent of Arrow Energy International, will have back-in
rights for investment in Liulin and other CBM projects developed by Fortune Oil
with Arrow
---------------------------

Alliance signed today with Shell backed Arrow Energy Internationalcould be massive news for the future of FTOexciting for me

Me too. I've traded these for over 10 years but it's always been a jam tomorrow share - until now?

I was into these a couple of years ago as it seemed very promising but moved on disappointed. I can't understand why gas shares like this an pci are not very highly valued by the market compared with oil shares. I'm tempted though.

Despite China booming, FTO remains unmoved.

Energy
China Business News Wed, 01/13/2010 - 13:49
Fortune Oil to expand into upstream business
by Terry Wang

Fortune Oil to expand into upstream business
by Terry Wang

China's coal bed methane (CBM) sector, like the wind and solar energy sectors, has entered a boom phase in recent years. As the industry is in its infancy, it has attracted a lot of new investors, from domestic oil giants to local energy producers, private investors and foreign enterprises. In this week's interview, John Pexton, the deputy chief executive officer of Fortune Oil, discusses his company's development plans, as well as his view of China's energy industry, particularly the CBM sector.

"We are really focused on accessing upstream assets and then developing both midstream and downstream assets for the sale of gas, instead of relying solely on downstream connection fees to generate a profit."
John Pexton, deputy chief executive officer of Fortune OilShanghai. January 13. INTERFAX-CHINA - Fortune Oil plc was listed on the main board of the London Stock Exchange in 1993, and has since been involved in the oil and gas business in China, mainly covering natural gas and oil trading, product supply and storage sectors.

In the natural gas sector, Fortune Oil selected an integrated business model to cover the upstream CBM extraction and midstream wholesale business as well as the downstream retail business.

The company has a lot of experience in gas distribution in China. "We have a lot of assets in the mid and downstream businesses. We have two liquefied natural gas (LNG) plants in China and own the largest compressed natural gas (CNG) station in Beijing," Pexton said.

According to Pexton, the company follows a strategy of balanced distribution along the gas chain. Fortune Oil began to control some gas distribution assets starting in 2003, and realized the importance of accessing an independent upstream supply.

"We are really focused on accessing upstream assets and then developing both midstream and downstream assets for the sale of gas, instead of relying solely on downstream connection fees to generate a profit," Pexton said.

As such, Fortune Oil has invested in an upstream project, the Liulin CBM block in Shaanxi Province. Pexton said it is the CBM industry's only state pilot project, under which a state-owned enterprise, in this case China United Coalbed Methane Co. Ltd. (CUCBM), is cooperating with a foreign firm. Under the pilot project guidelines, the two companies are permitted to bypass the standard regulation of having a pre-prepared and approved overall development plan (ODP) prior to engaging in the sale of gas.

The company plans to begin selling CBM from the Liulin project by the end of 2010, with an initial plan to sell it in the form of CNG through a joint venture with CUCBM.

Fortune Oil also recently entered a strategic alliance with Arrow Energy International in December 2009 on the development of CBM. Pexton explained that Arrow's strong technological capacity and wealth of experience was the main draw - factors which trump the importance of capital, in his opinion. He added that Arrow's expertise in upstream and Fortune Oil's expertise in midstream and downstream will make for a powerful partnership.

"We realize that to conduct this type of business, cooperating with experienced companies like Arrow is integral to our future success. Arrow is the right partner, because they are an independent company with a lot of field development in Australia," he said.

The Liulin project is Fortune Oil's only upstream project at the moment, but the company is exploring other CBM opportunities in China. Pexton anticipates that the partnership with Arrow will allow the company to chase more upstream assets, although Pexton has acknowledged that China's CBM industry is complicated, with a low success rate among foreign firms to date.

Pexton said that developmental delays for some companies stemmed from technological challenges, capital shortfalls and the nature of the gas market. For other firms, unfamiliarity with Chinese industry regulations was another major hindrance.

Despite these challenges, Pexton believes that CBM will be an increasingly important industry in China in the future.

"In 2010, you will see a lot of market development, partly due to the amount of pressure put on state-owned companies, including CUCBM and PetroChina, to recover resources, and partly because an increasing number of foreign companies, including Fortune Oil, will have CBM blocks ready to commence commercial operations," he said.