This is an another money maker -trading in high volumes -not yet started the race -But once moving ahead there is no chance of picking up this tiddler.Join together to enjoy the instant wealth

recently bought into this company on the back of shares mag article. happy so far ! wondering whether to take profit now or do people think there is more upside to this current rise?

i think still have space to rise, since IC tipped BUY today

Fortune Oil! the current situation....!!!!
Plus Points
(1) Probably the highest exposure to the Chinese economic growth of any company on the London Stock Exchange.
(2) Positioned in an attractive Niche
(3) Sale of Bluesky for excellent price
(4) Strong Balance sheet

Negative points
(1) Unpredictable Chinese politics
(2) Price has already risen very strongly

Continue to hold!!!
John

think i am going to take your advice on this one john. very tempting to take the profit but maybe there is more to come . did IC give any indication as to price forcasts? what else did the article say ckmtang?

Hi bosley
I don't want to go into detail as it might breach "Copy Right"

Basically they are saying what I've said in my previous post.... in my opinion The bottom line is..... "its a "High Risk" "High Reward" company in a very unique position with everything going for it at this moment in time!!"

However, someone has stuck his neck out and posted the IC's article on ADVFN if you want more detail.

Personally Im confident the price will almost, if not, actually hit the previous all time high of just over 16p, especially as we progress towards the results in April!!

Its going to be a very bumpy ride so try not to give in to your nerves during a sudden sharp fall!!.....

It's the subtle and gradual hint of a decline during the bobbing about that you have to be aware of!!....... conversely be aware of the subtle climb upwards taking place to help with your decision to hold.

Regards John

http://www.iii.co.uk/portfolio
what shud i do>>////?????????

basharat
Youve put a link up to presumably your portfolio on iii....
No one else can see it, as it is pass word protected!!

Ive posted the following comment on the iii Fortune Oil board.....What i am basicly saying is, as long as there is ecpectation & anticipation for more good news, then its worth holding for the time being..... sure it will bob around and may even briefly go back down to 8p, but as long as there is.... """"An-air-of-expectation""".... it will remain bouyent untill the results in April at least.
Copied from iii>>>>>
--------------------------------------------

Historically.... the absence of any news tends to make share prices to drift aimlessly and over a period of time it becomes a drift downwards!!

Lets consider what News Flow we can expect over the next couple of months for FTO!!...

We have the news of what will be done with the cash from the sale of Bluesky........ and it will be interesting to see what ideas the new CEO is going to come up with, as Im sure they would not have taken on someone with his experience and qualifications without something in mind, and Im looking forward to the "Final Report" for 2003 due out in April.....

So there is an Air-of-expectation to keep the price going for at least a couple of months yet.

"Orial Securities" estimate that pre-tax profit for 2003 will be 5.10 Million and 7.40 Million for 2004 (an increase of 45%) and as long as the forth-coming results don't disappoint on these figures then we can expect to see FTO go from strength to strength!!

Its possible we may see bit of a lull in the price during the summer months, but as things are looking good for the future its well worth holding for the long term!

Given time I expect Fortune to get way up into double figures eventualy.

Look at "African Diamonds".... "Dragon Oil".... "Oxus Mining" and others as examples if anyone doubts me!!

Kind Regards John

hi rothschild (john) thank you for the reassuring words . i agree that there is an air of expectation about the share . according to the shares article blue sky sold for much more than people thought it would so fortunes other holdings would be revalued . would be interesting to see some new valuations. anybody heard any news about this ?

R.P.

Quote: ""Orial Securities" estimate that pre-tax profit for 2003 will be 5.10 Million and 7.40 Million for 2004 (an increase of 45%)"

The 5.1m figure puts FTO on a PER of 112.5 (on share price of 9p)
and 7.4m gives PER 77.5 on same 9p price.

To me this appears a little on the expensive side (at 9p that is). I may be wrong.

When were Orial's figures last updated?
Is there any chance that results for 2004 could be much higher?

Highlights of an exclusive interview with George Soros on CCTV Monday 23rd February 2004
---------------------------------------------------------------------------------------------------------------
""Quote""

(1) "China is in a very, very, positive environment!!

(2) There's been a huge increase of money in China with no inflation, this has resulted in a lot of surplus money flowing into Real Estate in recent years, but this is coming to an end and that money will now flow into the stock market.

(3) On the question of the value of yuan (Chinese Currency) there are two options.....

(a) The value of the yuan will have to be increased against the US Dollar or..... (b) it will have to be tied to a basket of currencies.....

At the end of the day I expect a compromise to be made between these two options!!

""Unquote""
----------------------------------------------------------------------------------------------------------------

The question of the revaluation of the yuan has been talked about for some time now and looks inevitable that its value will increase!!

Presumably "Fortune Oil" carry on there business with the use of this currency, however, will this revaluation have any affect on the earnings of FTO...??

Personally I think it will have some affect, but since the value of the dollar has been falling will it be just a case of stabilising the value of FTO once the change has been made???


Any thoughts any one??

Regards John

PS. FirstCall.... these are figures made prevoiusly by Orial... and I think the 2004 results will be higher on the basis of on-going-things and the re-valuation of the Chinese currency ..... but thats imho.

Here's the latest chart.

Well was that a bit of tree shaking going on today!!??

The MM's started it off in negative territory which soon brought out the sellers, then brought out the bargain hunters as it dropped even further!!
only to finish up on the plus side.

I think we will see some more of this sort of thing going on until we have some news coming through or we are within striking distance of the results, when it should once again test the 10 pence level!!

After IC's recommendation last week at 9p, some of the buys around 8p today were at a bargain price!!.

I think the risk of any negative news flow is very very small now and eventualy the price will reflect this!!

Regards John

After recent steep gains and price fluctuations followed by a drop in traded volumes, we can now expect the price to consolidate some what, also investors would have bought on recent recommendations and will still hold, thus helping to provide support at around current levels.

still looking good....

oh its a definite winner and i am holding on to it

I agree with you `Bash`. multi-bagger in medium term!
also keep an eye on DES (desire petrol`m).
good luck etc
martin

Disposal now worth 49.8 million- but share price going south ?

Some good news ....
Regards John
--------------------------------------------------------------------------------
LONDON (AFX) -
Fortune Oil PLC's shareholders will get an unexpected
windfall if the company's planned sale of Fortune Aviation Holding Ltd to China
Aviation Oil (Singapore) Corp Ltd goes ahead.
Fortune said on Feb 5 that it will hold anextraordinary general meeting to
approve the deal on April 19.

Since that date the value of the cash and shares deal has increased as the
value of CAO's shares have jumped 67 pct.

The share portion of the purchase price has consequently risen from about
17.6 mln stg to about 29.5 mln stg and the overall value of the deal has
increased from about 31.8 mln stg to about 49.8 mln stg.
newsdesk@afxnews.com
jc
--------------------------------------------------------------------------------

RP,

good spot, and that deal is starting to look more and more interesting!

that mean the value of FTO will double soon.