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.

Cant find anything at the moment...either market sentiment or some news to be expected soon..
It looks like PI buying..but cant be sure at the moment..

Block Trade] A bullish block trade of 1M shares of CHINA GAS HOLD(00384) occurred at price of HK$4.6 and turnover of HK$4.6M at 11:21a.m . The last price is up 7.728%. Today's highest price is $4.6 and lowest price is $4.27. Total volume is 15.722M shares and total turnover is HK$70.702M.

News Provided by AASTOCKS

China Gas Holdings S.P. CLOSED @hk 4.53 up over 6% nice little move,very decent
capital gain on large holdings.

Conservatively I put it at over £13 million at the moment..

CHINA GAS HOLDINGS: The share price has risen over 7.35% over past 3 days,something is going on again ?, you would expect the sp to be going sideways or down after recent events.

It is very exposed to a very strong growth sector...the bid hit a high pre the bid and Minghiu debacle at about HK$4.90 2 years ago...
It has now broken through a stubborn top of HK$3.50 and looks to be heading back to its pre bid high...
All looking good for our JV......plus possibly deals in the making ahead...

Lots of positives going on,we could do with clear concise update,then move on.

It really does defy logic this share...:)
CGH gallops a head since the bid on future prospects one can only image...
And we through FTO a major share holder continue in the opposite direction...
Quite extraordinary really...

From another board.Just found this on one of the Armenian environmental sites
14:09 November 05, 2012 - EcoLur

“Healthy Hrazdan” initiative group demands from Nature Protection Minister to carry out inspection at Hrazdan Mine, where “Fortune Resources” Company is carrying out geological works. The application addressed to Minister Aram Harutyunyan says that “the company has been issued the license for geological prospecting of Hrazdan iron mine by Energy and Natural Reources Ministry in 2012, at the same time conducting the prospecting since 2011, which is unlawful activity.” Then the application lists numerous violations by the company while conducting the prospecting, particularly distance from inhabited houses, which makes up tens of meters unlike 1.5 km laid down in the document. The application also says that the company hasn't performed its obligation to preserve earth surface and didn't ensure carrying out recultivation works.

The initiative demands to annul the license issued to “Fortune Resources” Company, to stop the carried out works and to hold inspection examinations aimed to detect current violations.

That does not surprise me...
Fortune resources set up a web page for information for locals and i don't think it has ever given information...Any time I go near it ....is under construction.....

Traded at 8.13p this morning...closing in on low for year, below which could be a test of 7p...
If it holds we could head for 14p again...:-)

Lets head for 14p please!!

Big push below 8p today...
Lots of big trades over the last 2 days going through.
Stop losses are been triggered I suspect....
We shall see.....

The bid came up today at 8.01p which is the low for the year..
It wasn't taken and moved up slightly... but still finished at the lowest trade in the day.
Some are getting nervous about the Armenian venture but I think before that it was the drag from the recent bid....
There is an interim management update due in the next 2 weeks. While I do not expect it to be a cause for a rise, I am hoping it may give enough good news to at least arrest this severe slide.
The excellent results announced in April precipitated the current slide to where we are now.
So as stated before, not sure what is needed to help this stock stay around 10p.

『 Company Founder, Fortune Oil Sell China Gas Shares 』 [2012-11-7]

Liu Minghui, founder of China Gas Holdings Ltd., and energy company Fortune Oil Holdings Ltd. sold a 1.8 percent stake of China Gas for HK$ 4.03 per share.

The stocks were worth HK$ 320 million, Hong Kong Securities and Futures Commission said on July 11.

It was the first time Liu sold a stake in China Gas since state-run China Petrochemical Corp. (Sinopec) and privately held ENN Energy Service Co. Ltd. joined forces in a hostile takeover bid for China Gas in December 2011.

Beijing Enterprises Group, a state-owned company under the Beijing municipal government, purchased a 2.3 percent stake in China Gas for HK$ 400 million on July 11.

It has been the largest shareholder of China Gas since it spent HK$ 519 million to buy 132 million shares in June. Beijing Enterprises owns 20.3 percent of the firm.

Beijing Enterprises won't take over the company completely, a source close to China Gas said. But China Gas was willing to have Beijing Enterprises as its largest shareholder

There has been some very large block trades in CGH stock over the last
few days ,i wonder if FTO as taken advantage of recent CGH sp rise to
sell part of their holding.

I am amazed by the lack of response in fto shares. Their profit can potentially be 30% so far.

Couldnt resist anymore bought@ 8.25 !

POST 850.
That's very old news..
I don't think FTO have been selling any shares...i would be very surprised if they were to be honest..
But it is hard to know anything about this stock anymore...
The only saving grace at the moment is the volume is very low..
Less then £200k worth of trading even today...
Bear raid still...

ruthbaby 850 is very old news,i thought it was intereting that FTO was prepared to
sell part of their stake in CGH.
There have been a number of large block trades recently in CGH stock,FTO might be
raising cash for yet another venture?as you say its hard to try and sus out.