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.

But as with all things FTO...I am probably wrong ...LOL
You too!!

From another board:FTO report due Monday 19th!

A whole week to go so...
A few trades coming in below 8p still so very weary traders out there presently..

Market News - SK Holdings raises stk in China Gas (00384) to 14.34% 關閉
11/13/2012 6:36:23 PM
(Infocast News) SK Holdings Co., Ltd. increased its long position in China Gas Holdings Ltd. (00384) from 13.77% to 14.34% on November 7 by acquiring 26.212 million shares at HK$4.56 per share on average on the Stock Exchange, the Stock Exchange's Disclosure of Interests information shows.

china gas hldings sp hk$ 4.49 at present lots of movement in last
week or so.

SK Holding have been very quite since the recent deal announced by CGH...


(Lead) SK E&S has yet to see boon from China Gas-Sinopec deal

October 16, 2012 10:52 pm

By Kim Young-gyo

HONG KONG, Oct. 16 — South Korea's leading city gas provider, SK E&S Co., has yet to see whether it will benefit from a deal struck between China Gas Holdings Ltd. and state energy giant China Petroleum & Chemical Corp. (Sinopec), financial officials said Tuesday.

Late Monday, Hong Kong-listed China Gas Holdings said it has entered into a strategic cooperation framework agreement with Sinopec, while Sinopec said it has ended a nearly yearlong attempt to take over the former in a hostile move.

SK E&S is one of the three largest shareholders in China Gas.

"We view the frame work agreement as an alternative way for Sinopec to gain exposure to China Gas' gas distribution assets. Also, we think China Gas could leverage Sinopec's natural gas supply and petrol station network to drive gas sales and roll out compressed natural gas stations," said Frank He, an analyst at Goldman Sachs.

"But it remains to be seen whether synergies can be derived between China Gas and Sinopec's liquefied petroleum gas business, as expected by China Gas management."

SK E&C has increased its stake in China Gas to 13.09 percent from 4.42 percent, following Sinopec's cash bid to buy China Gas for 2.2 billion US dollars last December.

The South Korean firm, an affiliate of South Korea's third-largest conglomerate SK Group, said such a move was part of its ongoing efforts to expand its presence in China's city gas sector.

China Gas rejected the offer given by the world's fourth biggest firm by revenue and Chinese gas distributor ENN Energy Holdings Ltd., saying the offer did not reflect the company's actual value.

Since then, the China Gas shares have been on a steady rise, hovering above the 350 Hongkong dollars (US$ 45) per share.

China Gas Holdings Sp HK$ 4.51 moving up again!

I think something is going on there!!!
Maybe the big shareholders are secretly in talks to improve the gas market in China...
It's certainly a positive..

I think you are right ruthbaby, cgh sp touched hk$ 4.55 this morning.
could be exiting times.

That's the start IMO.

Debating a further future..

I do hope Fortune have a future part in those talks..

3rd quarter update likely this week....perhaps Monday 19th.

Update is out: as usual makes good reading,no bad surprises,hope sp will rise
going into 2013

China Gas Holdings SP : HK$ : 4.500

Duel fuel has finally gotten approval..
That is very positive news..
Liulin ....still not submitted ODP....that's negative news...

Good rns....so plenty of early selling!!!

Managed to get out of some of this mess today...
No more waiting around for this thing to turn....
Market up loads and still gets hammered...

That's me out finally.... with a loss but glad to be rid of it...
Best of luck to you all still in...
Ruth..