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.

FTO is A major shareholder...BEG is biggest shareholder now...:)

china gas end game.

http://www.reuters.com/article/2012/08/03/us-chinagas-sinopec-idUSBRE8720BM20120803

From VSA...

China Gas Holdings (384 HK) announced yesterday that company co-founder Liu Minghui will rejoin the firm as a director, days after he was formally cleared of embezzlement allegations in China. This move will be seen as very positive for the consortium created between Liu Minghui and Fortune Oil (FTO LN)*, which between them have acquired just under 18% of China Gas Holdings (CGH). Since ENN launched its bid for CGH in January, VSA has consistently said that this is highly unlikely to be successful, and with CGH currently trading at HK$4.10, against an offer price of HK$3.50, we continue to believe that this is almost certainly the case.

What is perhaps more interesting for Fortune Oil shareholders, is that with Liu Minghui back on the Board of CGH, once the bid from ENN has fallen away, we would expect close cooperation between CGH and Fortune Oil, and the possible creation of a “major gas distribution company” in Mainland China. We would expect this to create considerable value to Fortune Oil and so continue to be buyers of the stock.

CGH closing sp 4.27
topped up with FTO last few days.
CGH has agm on 16" Aug?
lots of interesting news.

Found this on another site.


Luilin CNG plant






























Found this article with an image of the CNG plant. Bigger operation than I thought !

http://www.hydrocarbons-technology.com/news/newsdart-enery-completes-plant

Aug 6 (Reuters) - Chinese oil giant Sinopec Corp and gas distributor ENN Energy Holdings are extending their $2.2 billion offer for China Gas Holdings again, this time by a month, as they seek regulatory approvals to proceed with Hong Kong's first unsolicited takeover bid.

Sinopec and ENN are finding the odds increasingly stacked against them as regulatory hurdles remain uncrossed eight months after their offer and key shareholders of the target company place new obstacles in their way, sources with direct knowledge of the matter have told Reuters.

In a filing with the Hong Kong stock exchange, the Sinopec/ENN consortium said on Monday they have decided to extend the offer until September 6 p e nding approvals from various Chinese authorities, including the country's commerce ministry, which recently extended its anti-monopoly review for the offer to around the end of August.

Buying China Gas would give Sinopec and ENN access to the country's largest portfolio of natural gas distribution projects. But analysts say the consortium will have to win regulatory approvals and raise its offer to win the backing of China Gas shareholders.

The consortium had already extended the offer period three times over eight months in the absence of regulatory approval and permission from China Gas's board to conduct due diligence on the company that has piped-gas operations in 160 cities and 20,000 employees.

The consortium has now set September 6 as the "long stop date", meaning if by that date pre-conditions set out in their indicative proposals, including winning the necessary regulatory approval and conducting due diligence on China Gas, are not met, the group could drop the offer or reset the long-stop date.

In December last year, Sinopec and ENN made a conditional cash offer of HK$3.50 per share for China Gas, making it the first unsolicited offer in Hong Kong.

China Gas rejected the offer, saying it failed to reflect the true value of the company, and its share price has since traded consistently above the offer price as some of its key shareholders jostled to raise their stakes in the company.

Shares in China Gas ended little changed at HK$4.26 on Monday, a 22 percent premium to the offer price.

About 51 percent of China Gas is held by state-controlled utility Beijing Enterprises Group (BJEG) and two other investors, one of them a venture set up by London-listed Fortune Oil and former managing director of China Gas Liu Minhui, and the other a unit of South Korea's SK Group . (Editing by Greg Mahlich)

This is like a dead body. So much activities, all positive, but no reaction !!!
When is it going to end? I am too old to wait much more.

yep drives you towards drink ha ha some movement now

spoke to soon bum

Found this on another site

Taking into consideration the interest of environmental organisations and the initiative groups in the activity of Fortune Resources Company in processing iron ore in Armenia, we think it necessary to inform you the following:
■The main and the biggest shareholder of Fortune Resources Company acting in Armenia is Fortune Oil Company, which was established in Hong Kong and registered in London stock exchange. The company has the intention of exploiting the iron mines in Hrazdan and Abovyan cities, but now it is doing design work and is checking the mine reserves.
■These type of geological-exploration studies are being carried out by Chinese Sinosteel company, which provides equipment and techniques, British SRK company, which provides professional services for expertise assessments and solutions on mining and metallurgy, geo-techniques, wastes, water and environment protection issues and Australian Promet company, which realizes project management, design of technological equipment, provision of consultations on mining and metallurgy issues. All three international companies before expanded effective activities in Europe, Asia, Africa, Southern American countries and have attained high international reputation.
■Fortune Resources Company will invest more than 110 million USD for the development of Hrazdan iron mine and the design and construction of the enrichment plant, as well as for the preparation of the mine and the amount of investments for the exploration and mining of reserves of Abovyan will exceed 400 million USD.
■Fortune Resources Company realizes its activity exclusively within the framework of the legislation of the Republic of Armenia, strongly preserves international environmental all rules and obligations. We assure that the activities of the company, that have been realized till now are not dangerous and in the future they will not produce any danger to the territories near the mine, nearby residences and to the health of the residents.
■A lot of mass-media companies have disseminated misinformation talking about uranium that exists in the mine. We would like to inform you that the ore has been studied in details and no uranium has been found. This is also proved by exploration-search works realized during USSR period. We think it important to mention that the concerns of the public connected with the pollution of underground water with heavy metals are not well-grounded.
■There have been disseminated news that there flow underground water in the territory of the mine and in case of exploiting the mine these water resources will be polluted.We would like to inform that the company is now realizing hydro-geological studies and in the nearest future will submit the results of these studies, as well as the company will provide justified explanations and comments about all the concerns spread in the mass-media.
■Fortune Resources company carries out consistent personnel policy inviting for work mainly citizens of the Republic of Armenia, who have necessary work experience and high qualifications for organizing the company’s work effectively in all the spheres.
■Today more than ten people of different professions work in the company. In case of starting the mine exploitation works, new manufacturing enterprises will be established and at least 500 new work places will be opened, and in case of planned full functioning till 3 thousand people will participate in the activity of the company.
■Social programs and measures form a special and extensive package in the company project activity, which will have continuous essence.






ALL RIGHT RESERVED. FORTUNE RESOURCES.2012

Interim results due towards the end of the month.........
25th/28th??

I read somewhere they will be out on the 24th.

CGH closed at hk$ 4.30
agm+sgm scheduled to be held 16th August.
topped up with FTO.

Think we are now definitely a long term holder in CGHs.
It should be interesting to hear what they have to say about conditions in the economy in China presently.
Once the bid fails...I think CGG should come into play more (our JV with Minghiu)

RUTHBABY
I think you are right,it seems the way to go.

We will have a better understanding over the next few weeks..
Continued buying today following on from last week....

Run up ahead of half year results?

was expecting a further dip prior to half yearlys then up to 10.20 ish

Same here....
Has bounced from 9p on a few occasions now.

Same here....
Has bounced from 9p on a few occasions now.