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.

Extended auction + 7% has a little birdie been talking at fortune?hope sobut no news?

Energy group Arrow Energy has received a takeover offer of about $3.3 billion from the Anglo-Dutch oil group Royal Dutch Shell.. Mon Mar 2010 11:03 (7 hours, 45 minutes ago)

THE OFFER DOESNT SEEM TO INCLUDE INTERNATIONAL ASSETS.THESE MAY BE SOLD AT A LATER DATE?

The Malaysian Insider
Wednesday March 17 2010.

China in great leap forward for gas

BEIJING, March 17 Chinas burgeoning gas demand has been a key driver for a swathe of projects to supply the clean-burning fuel but the speed at which it will shift away from coal and oil could still catch markets by surprise.

From Guangzhous small eateries to porcelain mills on the citys outskirts, from its bus fleet to its shiny high-rise apartments in Beijing, gas is taking over from dirtier alternatives as the fuel of choice to cook, heat and transport.

Aluminium smelters in Inner Mongolia are shifting to gas from crude, and power generators in east China have dumped oil for gas.

After a tripling in consumption in the past decade, gas is set for a similar jump by 2020 to make up nearly 10 per cent of total energy use, from the present 4 per cent.

State energy giant CNPC earlier this year revised up its China gas demand forecast in 2020 by half to 300 billion cubic metres (bcm), equivalent to three quarters of the amount of oil it now consumes.

Its the double accelerator thats behind our revision: Chinas urbanisation and industrialisation, as well as the national policy to strive for sustainable growth, said Jiang Xuefeng, a senior researcher of CNPC.

Gas offers the worlds No.3 economy the most realistic way to achieve its emission targets a 40-45 per cent cut in carbon dioxide per dollar of national income by 2020 from the 2005 level compared to the more costly and time-consuming investments in alternative energy like hydro and nuclear.

The boost in gas will cheer firms like PetroChina, CNPCs listed unit that controls over 60 per cent of Chinas gas output, and CNOOC Ltd, which has its largest gas deposit to tap in the South China Sea operated by Canadas Husky.

It will force traders like Pan Liangwei to look further beyond his coal business, after having to quit fuel oil trading as his clients in Guangdong power plants, porcelain mills moved to cheaper coal after oils rally in 2008, resulting in dwindling demand for imported fuel oil.

Once there are pipelines to pipe gas over, and the price is reasonable, then all will shift to gas, said Pan from Guangdong, Chinas manufacturing hub, where local authorities have embarked on a US$7-billion (Rm23.11 billion) project to link 21 cities with gas lines.

While oil dealers said power plants which used to take a third of Chinas imported fuel oil had all but vanished from the oil import scene, longer term, gas will mostly hit coal.

Coal, which last year supplied 69 per cent of Chinas total energy use, will probably drop 10 percentage points in the following decade, while the share of oil will hold at 19 per cent, sustaining Chinas support for global oil demand, analysts said.

SHORTAGE

While China is widely expected to revamp its gas prices long kept below market levels to support fertilizer makers it is the recurring shortage that has prompted industry players to raise their gas forecasts.

In December, central and southern China were rationing gas to taxis and factories as a cold spell led to a surge in heating demand in a country that also is severely short of gas storage.

There remains enormous pent-up demand for gas across China...current demand is artificially limited by access to supply, as highlighted by the gas shortage this winter, Bernstein Research wrote in its January note.

Similar to CNPC, Bernstein upped its China gas demand forecast by 55 per cent from its previous estimates, pegging 2015 demand at 200bcm and 280bcm in 2020, doubling and tripling, respectively, the 2009 level.

Once resource is secured and infrastructure in place, the huge demand potential will be released, said CNPCs Jiang.

A number of major gas pipelines will be laid over the next three years, including Sichuan-Shanghai, Ordos-Beijing, the second West-East line, doubling the networks current capacity.

PetroChina and rival Sinopec Corp are developing new, big fields such as Dina and Tazhong in northwest Xinjiang; Sulige in Inner Mongolia; Longgang and Puguang in southwest Sichuan, while fast-tracking explorations by adding each year 200 bcm of incremental recoverable reserve, said Jiang.

The start of long-term gas deliveres from Qatar, Indonesia and Malaysia will double imports of liquefied natural gas by 2011. These will surge even further in coming years, after firms like Qatargas, Shell, BP and Exxon Mobil sealed supply pacts with Chinese firms worth over US$100 billion.

Piped gas from Turkmenistan and Myanmar will together amount to 20 per cent of Chinas demand, or 40bcm, by 2015.

NEW FLATS

Much as Chinas blistering car sales spur gasoline demand, its frenzied property boom bolsters demand for gas.

China added nearly 2 million square metres of new apartment space every day in 2009, 20 per cent more than 2008, official data showed, and most would have gas links.

The residential use has often been under-estimated, said Yan Kefeng of Cambridge Energy Research Associates (CERA), adding that the potential is huge to replace the more pricey and dirty city gas gas made from coal or heavy oil that millions of houses are connected to.

Industries will be the next key driver, as China, the worlds No.1 aluminium consumer and producer, designed its new smelters in the last few few years to burn gas instead of crude in making carbon anodes half a tonne of which makes every tonne of aluminium.

Many of the new power plants in Guangdong are designed to take gas. Problem is there is not enough gas, said the former fuel oil dealer Pan. Reuters

ARROW ENERGY ACCEPTS OFFER FROM SHELL/PETRO CHINA

Has to be good news CWMAM>

This has enabled another great partnership for Fortunemust bring some increased value to the company?

IT WOULD CERTAINLY SEEM SO,WOULD LIKE TO TO HEAR SOME NEWS FROM FTO.

CBM. UPDATE,SOUNDS OK,WILL IT MOVE S.P. ?

SP GOING IN THE RIGHT DIRECTION .

MORE GOOD NEWS SP MOVING UP.

We have had a very good recent stream of newsthe latest positive statement is another indication that Fortune are going placesno share dilutionand increased future revenues a certaintythe already crap SP will not imo significantly improve till results published give MMs no room for manoeuvres

16:20 and the mms have this marked down nowafter being 3% or more up all daythey know it aint gonna end down on the dayif it doesI will eat my own bo**ockswhy keep playing these stupid games?

As expected I can look forward to my dinner4.4% up.

Looks like an increase in value should be the order of the day....8p or even 9p possibly soon.

NEW US $80 MIL LOAN FACILITY,SP GOING UP.

Yes CWMAMwe have had a continued run of very good news this years Fortune Financial Calendar could be the one to see the SP finally underpinned at a favourable level :-

2009 Annual Financial Report
end April 2010

First 2010 Interim Management Statement
March - May 2010

Annual General Meeting
15 June 2010

2010 Half Year Report
end August 2010

Second 2010 Interim Management Statement
September - November 2010

TIDMFTO

RNS Number : 9089K
Fortune Oil PLC
28 April 2010

?
28 APRIL 2010
FORTUNE OIL PLC
("Fortune Oil" or "the Company")

Annual Financial Report Announcement

Fortune Oil invests in and manages oil and gas supply and infrastructure
projects in China. Fortune Oil is quoted on the full list of the London Stock
Exchange and has its headquarters in Hong Kong. Fortune Oil today reports its
results for the financial year ending 31 December 2009.

FINANCIAL HIGHLIGHTS

* Revenues increased by 11 per cent to GBP404 million (2008: GBP365 million).
* Operating profit more than doubled to GBP19.3 million (2008: GBP9.0 million),
the highest in the Company's history, after excluding gains on disposal in both
2008 and 2009.
* Profit attributable to equity shareholders was GBP8.8 million (2008: GBP9.0
million).
* Gas distribution operating profit increased by 36 per cent to GBP8.8 million
(2008: GBP6.4 million).
* Bluesky contribution turned from a loss of GBP3.0 million in 2008 to a profit
of GBP4.2 million in 2009.
* Earnings per share of 0.47 pence (2008: 0.49 pence).
* Net cash from operating activities increased by 180 per cent to GBP25.7
million (2008: GBP9.2 million).
* Net cash position at 31 December 2009 of GBP7.2 million (2008: GBP5.6
million).
* New loan facility of US$80 million signed on 14 April 2010.

OPERATIONAL HIGHLIGHTS

* Every Fortune Oil business achieved higher volume sales and higher operating
profit than in 2008.
* Gas sales increased by 36 per cent to 482 million cubic metres (2008: 354
million).
* Fortune Gas now has 142,000 connected customers, 941 km of pipeline, 27 CNG
stations and 2 LNG trains.
* Bluesky posted a record performance, with an increase in domestic travel
demand and a stable fuel pricing regime in place.
* Independent probable plus possible reserve estimates in the Liulin CBM block
tripled to 2.4 billion cubic metres.
* Significant investment in Liulin CBM block by Arrow Energy International:
US$13.3 million already received and options issued for further payments
exceeding US$53 million.

The results look very good indeedI have a feeling that the price might stay in auction a little longer this morningno reason not to be a very good day for us allit all starts from here!

What the hell has happened here...?...this is more and more bonkers....

DONT KNOW,BOUGHT SOME@6.48