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

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.

Being new to the world of buying and selling shares what does the above really mean in share price terms. I brought into these some months ago and am still holding for FTO's next move.

have held fortune oil for many years, should i buy sell or hold.

do anyone know what expected gain for?

ttt

Fortune Oil PLC
19 April 2004



19 APRIL 2004

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

RESULT OF EXTRAORDINARY GENERAL MEETING

NOTICE OF PRELIMINARY RESULTS

Fortune Oil is pleased to announce that at an Extraordinary General Meeting held today, the ordinary resolution to approve the proposed disposal (the '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') was duly passed.

Completion of the disposal will take place as set out in Part III of the
circular to shareholders dated 2 April 2004.

Fortune Oil intends to announce its preliminary results for the year ended 31
December 2003 on 28 April 2004.

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

ANDY,
I need to know where you got the chart you posted on the 24th Feb as it seems to have predicted very accurately the following 6 weeks trading, or have you edited it? if not everyone needs that info ?!?

On a more realistic note it seems to my uneducated eye that this chart appears to be developing a healthy support level @ 7p any views from the chart experts?

Stormcaller,

that chart automatically updates daily.

It is form a free website,

www.bigcharts.com

They have information from all major world markets, and you don't need to register, although it pays to "save" the settings you choose, so that when you return to the site from the same PC, they are automatically ready for you.

You have to prefix the country code, then the epic, so Fortune oil is UK:FTO, and Nuevo Energy Co., on the US market would be US:NEV.

hope this helps, but if you need any furthr info, will be pleased to help.


With regard to the current FTO chart, I agree support does seem to be developing at 7p.