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.

Onward&upward !!

..but why? Not that I'm complaining :-)

In my opinion the sp has not reacted to the company performance/news,this correction has been long overdue.

Will this affect us?

27 September 2010
Dart Energy Limited (ASX Code DTE) Request for Trading Halt
In accordance with Listing Rule 17.1 Dart Energy Limited requests ASX to grant a trading halt in relation to its securities. In accordance with Listing Rule 17.1 the company states the following:

1. Reason for the trading halt

Pending release of an announcement to the market concerning a material acquisition by the company.

2. Length of trading halt

Until 10am Wednesday 29 September or until the announcement is made.

3. The event that the company expects to happen that will end the trading halt

The announcement by the company.
The company is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt.
Yours faithfully
Paul Marshall
Company Secretary
--------------------------------------
Fortune Oil plc Announces Gas Sales Agreement at Liulin Block
Wednesday, 8 Sep 2010 02:00am EDT
Fortune Oil plc announced the signing of the first Gas Sales Agreement (GSA) for its Liulin Block CBM. Fortune Oil, through its 85% subsidiary Fortune Gas Investment Holdings Ltd, holds 65% of Fortune Liulin Gas Co Ltd. (FLG), which itself has a 50% revenue sharing interest in the Liulin Block, other 50% interest being held by China United Coal Bed Methane Corporation (CUCBM). The remaining 35% interest in FLG is owned by Dart Energy Limited. The GSA signed between CUCBM, as the Chinese gas rights owner, and Shanxi CBM is a 15 year agreement requiring Shanxi CBM to purchase 100,000 cubic meters per day of CBM gas on a take-or-pay basis. The GSA applies to CBM gas sales commencing June 01, 2011, with take-or-pay obligations commencing June 01, 2012. The price is RMB 1.58 per cubic meter including recently enacted Chinese government subsidies which equates to USD6.59/gigajoule. A full years' supply, assuming no escalation, at the minimum volume level would equate to gross sales of RMB 52.1 million (GBP5.01 million). The gas produced from the Liulin block will be purchased and then resold to market, at a significant premium, by Shanxi CBM. Fortune Oil has a 50% equity interest in Shanxi CBM held through two subsidiaries of Fortune Gas Investment Holdings Ltd, Fortune Gas Investment Co. Ltd and Beijing Fu Hua Green Energy Technical Co. Ltd

Well spotted - but isn't the Dart aquisition likely to be unrelated to FTO? Otherwise both companies would be suspended and a formal announcement of a bid made by both also?

UPDATE: Dart Agrees To Buy Apollo; Deal Values Target At A$150 Million

Dart Energy Ltd. (DTE.AU) said Tuesday that it could be selling gas to the New South Wales state domestic power market by 2012 after it unveiled a friendly share-based takeover offer for Apollo Gas Ltd. (AZO.AU) that gives the target an enterprise value of about A$145.5 million.

The offer values Apollo's shares on issue at A$71.4 million but an Apollo spokeswoman said Apollo also has 109.6 million shares subject to escrow and cash on hand of A$12.0 million.

The acquisition will give Dart its first material interest in an Australian asset, adding to its undeveloped coal seam gas acreage in China, India, Vietnam and Indonesia, and follows the company's spin off from Arrow Energy earlier this year.

Australia's large coal endowment has contributed to its status as the world's biggest carbon emitter per head of population but increasing public concern about climate change is strengthening the investment case for natural gas.

Dart, which already owns 21% of Apollo, is offering three of its shares for every four Apollo shares, or about 79 Australian cents per Apollo share, based on their most recent value before the deal was announced.

Apollo directors and major shareholders representing 54% of the company's shares on issue intend to accept the offer, Dart said. ...............
--------------------------------
Cancel the Ferrarilol

Heavy volume yesterday,very narrow spreads at times,lots of buys,i bought some more,something about to happen?.

CWMAMsince the very good half year report at the end of August and the First Gas Sales Agreement at Liulin Block myself.. family and friends have increased our holdingsnot one of our buys has been reported as a buyeveryone a sellstrange?do you think the mms are trying to persuade investors that there are a large amount of sellers toosurely not?lol

Hi Lol
I have a very large holding going back to the 2p days.The mm are influenced by making money,i have bought and sold large chunks when the sp has spiked and then fallen[not always getting it right] some trades not reported at all.
In my opinion fto will benfit substantially as the yuan is allowed to float more freely.

TV NEWS IN CHINA:Petro&Diesel prices have been increased as from today:3%.

Interesting analyst report involving FTO page 20...section titled ways to play the sector .
http://www.greendragongas.com/doc/research_report_100518.pdf

Thanks tabasco. Looks worth reading the whole thing but no time just now. FTO still a jam tomorrow stock but I've a few years left before I need the SIPP.

Read the whole report now and while it is bullish on the coal bed methane business there are a lot of riders. Also this phrase in particular "As a result it seems likely that the
independents will have to dilute their equity, raise capital through rights issues or develop at a much slower pace that currently envisioned." in respect of future finance required to bring cbm to market.

China National Radio:Beijing will increase the retail price of Natural Gas by 11%.

Just to cheer a few up on here.

This stock does seem to struggle in maintaining any sp momentum. I have been told many times that fto is a little gem on the verge of giving investors real valueI was once again given positive advise last weekThe Daily Mail gave a very good analysis in September resulting in the sp closing at over 9p but declining slowly to once again the 7p levelthere has been a constant flow of good/great news all of this year with little effect on the price..BUT With an interim management statement released tomorrow and more than one whisper going roundI believe this to be the start of a proper companybe sure to be up at seven tomorrow!

Another guy from another thread must have heard something similar:-

I have told the directors, via Archie Pelham, that their attempts at increasing shareholder value, mentioned in the last 2 rns, has been dismal.

The response was, 'watch this space' ! So my guess is either an offer or a HK listing, thats why I am back in, dyor.

Good luck all

Hi tabasco.
Thanks for the info, I have been in this for years and can't see why it hasn't got beyond the 7-9p range.
It is very frustrating but i am willing to keep holding, perhaps tomorrow I will be wishing I had bought more today.
Good things come to those who wait... Is that not a Chinese proverb? lol
Good luck.

Third Quarter 2010 Interim Management Statement



TIDMFTO

RNS Number : 3865W
Fortune Oil PLC
18 November 2010

?

18 November 2010

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

Third Quarter 2010 Interim Management Statement

Fortune Oil is pleased to announce its Interim Management Statement for the
period 30 June 2010 to date.

In addition, today Fortune Oil launches its new corporate strategy focusing on
global resources to increase shareholder value.

Powerful Strategy - Global Resources
Fortune Oil will actively pursue overseas investment opportunities to capitalize
on the demand for energy and resources in China. This will enable the Company to
further diversify its revenue base and significantly increase its growth
potential. Specifically, Fortune Oil will focus on high growth commodities such
as oil, gas, coal, iron ore, copper and other metals, in countries which are
close to China and with abundant reserves. Initially, Fortune Oil will form
strategic alliances with key market participants to obtain the necessary
expertise and trading links with a view to securing its own position in these
markets.

For additional details kindly refer to our website www.fortune-oil.com and in
our announcement issued today.

Highlights

� Natural Gas Sales volume up 29% (vs. Q3 2009) with 15,413 new connections.
� Completed drilling 50 vertical wells at CBM Liulin Block and on schedule to
submit Overall Development Plan (ODP) in 2011.
� Successfully completed the 1st trial cruise of Yangtze River vessel using
dual-fuel technology (LNG/Diesel Fuel).
� Jet fuel sales up 10% vs. 2009.
� Maoming SPM and West Zhuhai Terminal throughput volume up 9% and 17%,
respectively (vs. 2009).
� Margins in Q3 2010 have remained broadly stable across most business
segments.
� Significant funding capacity for new projects backed by Fortune Oil's net
cash position and draw down of the remaining US$40 million.

RNS Number : 3866W
Fortune Oil PLC
18 November 2010



18 November 2010

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

Launch of New Corporate Strategy

The Board of Fortune Oil plc is pleased to announce the launch of a new
corporate strategy to further secure and accelerate company growth and increase
shareholder value.

Fortune Oil will actively pursue overseas investment opportunities to capitalize
on the demand for energy and resources in China. This will enable the Company to
further diversify its revenue base and significantly increase its growth
potential. Specifically, Fortune Oil will focus on high growth commodities such
as oil, gas, coal, iron ore, copper and other metals, in countries which are
close to China and with abundant reserves.

Fortune Oil will leverage its existing skills and relationships in China to take
advantage of the economy's ongoing growth and pursue investment opportunities in
energy and resources.

For additional information refer to the presentation on our website
www.fortune-oil.com

Strong Demand For Natural Resources in China

� China is the 2nd largest economy worldwide and will continue to expand in
the foreseeable future.
� Access to global resources is crucial for China to further drive the
economy.
� Resources such as oil, gas, coal, iron ore, copper are finite and existing
suppliers are unable to satisfy current demand.
� Prices for energy and natural resources have already increased
significantly and are projected to increase further.

Growth Strategy

To capture maximum value from China's insatiable demand, Fortune Oil will create
two distinct businesses, Energy and Resources.

Resources Group

� Regional country focus with close proximity to China.
� Acquire controlling interests of scalable, in-production or near-production
resource assets, with a focus on under-exploited assets as a result of lack of
finance, expertise or effective relationships.
� Form strategic alliances with key players and develop internal
capabilities.
� Focus on high consumption commodities such as oil, natural gas, coal, and
metals, with selection criteria of low cost production, scalable resource,
manageable political risk and linkage to China and the ability to generate
cashflows within 3 years.

EnergyGroup

Backed by stable cashflows from the existing oil business, the energy division
will aim to accelerate the growth options available to the natural gas business.


� Enhanced operational excellence.
� Organic growth through the development of the Liulin Coal Bed Methane
resource and expansion of pipeline networks including CNG refuelling stations.
� Suitable bolt-on acquisitions will be considered.
� Alongside the existing business segments, the Energy Group will create new
revenue streams such as the Yangtze ship conversion and refuelling business.

Initial Progress

The Board has taken the following initial steps to implement the new strategy:

Key partnership - the Company has signed an umbrella finance agreement with
China Volant Industry Company ("Volinco"), a state owned corporation for
providing up to US$1 billion of medium term export financing. The financing will
be used to purchase Chinese equipment and secure Volinco's engineering,
procurement and construction services. The agreement sets out the parameters for
the financing of a number of projects over the next three years. In addition,
initial discussions have taken place regarding potential long-term off-take
agreements for certain minerals.

Strong management - The Board is currently recruiting additional mining
specialists to bolster the existing strong management team.

Project selection and screening - A number of opportunities have been identified
and are under scrutiny to determine which projects best meet the selection
criteria.

Tee Kiam Poon, Chief Executive commented:

"We believe that Fortune Oil is attractively placed in the energy market in
China to leverage its existing strong relationships and management's previous
experience to accelerate growth and ultimately create shareholder value.

The management team has already identified attractive opportunities and our
Chinese partners are expressing strong support for Fortune Oil to pursue
investment in natural resources which we believe will achieve rapid and
significant success."

I think you can safely say the company intend going forwardthat is some growth plan. A proper company with serious ! Just the sp to fly now

Wish I could share this confidence but plenty of others are already on the boat of natural resources supply to China. FTO are amateur newbies and this diversion is highly risky imho. In any event for shareholders this is yet another jam tomorrow (or more accurately in 3+ years) story. I'd rather it continued doing well in its core businesses and started paying a dividend now.