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?

Fortune Oil PLC
02 August 2004


2 AUGUST 2004

FORTUNE OIL PLC ('Fortune' or 'the Company')

UPDATE ON BLUESKY DISPOSAL

Earlier this year, Fortune Oil announced the proposed disposal (the 'Bluesky
Disposal') of Fortune Aviation Holding Limited, which owns a 24.5 per cent.
interest in South China Bluesky Aviation Oil Co Limited, to China Aviation Oil
(Singapore) Corporation Ltd ('CAO').

At Fortune Oil's Annual General Meeting on 25 June 2004, it was stated that the
Company continued to monitor the approval process in relation to the Bluesky
Disposal by the State-Owned Assets Supervision and Administration Commission of
China ('the Commission') (a necessary condition of the Bluesky Disposal) but
that completion was expected by the end of July.

On 27 July 2004, CAO announced that the Singapore Stock Exchange had given its
approval in principle for the listing of and quotation for the new shares in CAO
to be issued to Fortune Oil under the terms of the Bluesky Disposal.

Fortune Oil today announces that the approval process by the Commission has
taken longer than had originally been anticipated. The Company continues to
monitor the approval process in relation to the Bluesky Disposal by the
Commission on a day-to-day basis and looks forward to announcing the completion
of the Bluesky Disposal as soon as the necessary approvals have been obtained.

Fortune Oil has agreed with CAO an extension of the date for fulfilment of this
final outstanding condition in regard to the Bluesky Disposal.

ENQUIRIES:

Fortune Oil PLC Tel: 020 7589 2233 (UK)
Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)
John Pexton - Deputy Chief Executive

Oriel Securities Limited Tel: 020 7710 7600
Simon Bragg
Natalie Fortescue

ICIS Limited Tel: 020 7628 1114
Archie Berens or 07802 442 486




This information is provided by RNS
The company news service from the London Stock Exchange

Thanks for putting this info up Andy .

regards bowman


r

looks like its a case of the chinese wanting to do business, but only on their time scale . feels like they wont be pushed into keeping to schedules.

Some big purchases today, any rumbles of an update regarding the sale of Bluesky Aviation or am I being too optimistic? This deal just drags on and on.

hello jason , doesnt it just!!! still , it makes life a touch more interesting.

bosley, it's like waiting for Christmas, lets just hope we get the surprise we are all expecting! Im off on my hols next week so you can be pretty sure that's when all the action will start if my current run of luck is anything to go by! Good luck to everyone!!

does anyone have any news or views as to when this deal will be completed?.i`ve been trying to find something /anything on the web but i can`t.it`s nearly 2 weeks past the original dealine.
cheers,
dexter

Have you tried e.mailing / phoning the company or its broker?

Are you famiiar with the lobbying dexter well that's what is now happening in china . Fortune oil have advisors and lawyers working on this deal for them and i know for a fact the company want this concluded ASAP. Remember the deal is not taking place in the uk this is china we are talking about, different system.

regards bowman

Are you famiiar with the lobbying dexter well that's what is now happening in china . Fortune oil have advisors and lawyers working on this deal for them and i know for a fact the company want this concluded ASAP. Remember the deal is not taking place in the uk this is china we are talking about, different system.

regards bowman

From the half year results statetment of CAO

CAO's agreement with Fortune Oil Plc to acquire its interests in South China Bluesky Aviation Oil Company ("Bluesky") and Fortune Aviation Holding Ltd awaits approval by China's State Council, buyer and seller having completed all transaction details. It is expected the contribution from this 24.5% stake in Bluesky will begin shortly.

http://www.listedcompany.com/ir/cao/newsroom/newsroom.cgi?action=view_news&id=160&

morning all,
does anyone know the e-mail address for fortune or their broker?
thanks,
dexter

Barclays is showing it as info@fortuneoil.co.uk seems more like a web page than an e-mail address but thats what they say it is. Telephone number 0207 589 2233, Fax 0207 589 7755.

Advisor Capita Rgeistars Plc Tel 0208 162 3100

Fortune Oil PLC
Contact Details


HEAD OFFICE:
Suite 3406, 34th Floor
Office Tower, Convention Plaza
Harbour Road, Wanchai
Hong Kong

Tel: (852) 2803 8300
Tlx: 68749 KLPHX
Fax: (852) 2802 8322
REGISTERED OFFICE:
4th Floor, Bowater House East
68 Knightsbridge
London
SW1X 7LJ

Tel: (020) 7589 2233
Fax: (020) 7589 7755
email : info@fortuneoil.co.uk


12th August 2004

any news about Bluesky?

no news is a good news i believe

Let's hope the Bluesky deal is coming up soon...Basharat.

Extract from the Independent today.


FTSE All-Change
By Stephen Foley
23 August 2004


The fund managers backing MOS have taken heart from the performance of the bigger oil industry services company Sondex, which makes drilling tools and software and whose shares have jumped 50 per cent this year. As a result, Sondex is a leading contender to win a place back in the FTSE All-Share index when it is reshuffled next month. Because many tracker funds use the All-Share, and many more benchmark performance against that index, there is often a burst of buying interest in new entrants. Also on the list to make an entrance are the nuclear generator British Energy and Fortune Oil, which is making oil and gas investments in China.

Any bets on FTO having a RNS before September? Was hoping the price was going to break out of the 7p mark this week but it looks like we will have to wait for more news.

I personally think we'll do well to stay in the 6 - 6.5p range whilst waiting for this deal to be closed.
It tends to drift down quite a lot, what did we get down to recently 5p ? That's a ruddy large drift.

Cheeks