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.

Best of luck to you ruthbaby,i am holding for another 6 months or so
there should be some interesting news on the way.

Best of luck to you ruthbaby,i am holding for another 6 months or so
there should be some interesting news on the way.

I am sure I will keep an eye here as fundamentals tell me it is very under valued..
It is investing in the right area of the world at the moment and it is making good profits and looking like a record year again with a big dividend increase again..
So every thing looks good in China.
Armenia has potential and may very well get developed. Iron grade is not brilliant but commercial
However clearly fundamentals and strong profit growth are of no significance to the market, not to mention dividend growth.
Perplexing to say the least...
Will stay in touch...
GLA..

I have been holding for over 20 six months now. I still do not understand in detail on what the assets are.

I am however very optimistic about the company.

China Gas Holdings:profit alert:expect huge rise in net profit,interims due
28th November.
C.G.H. up over 5% @ HK$4.720
This is good news for our F.T.O.

*CHINA GAS HOLD (00384.HK) rated Conviction Buy by GS on expecting 16% compound growth in natural gas demand in CN


2012-11-21 10:44:18

China Gas Holdings SP @hk$ 4.990 up another 4.9% this stock is really motoring
This is great news for FTO

LNG going up China's Yangtze River





Chinese inland shipping giant to build fleet of dual-fuel vessels.


By ERIC MARTIN London .





LNG bunkering could become a regular sight on China’s Yangtze River by the year-end as China Changjiang Shipping pursues an ambitious plan for a massive fleet of dual-fuel vessels.



Hong Kong-based Fortune Oil, which is working with the government-controlled shipowner, is planning to build three initial LNG bunkering stations along the key inland waterway.



Earlier this month, China Changjiang also signed a strategic co-operation agreement with energy giant China National Petroleum Corporation to pursue LNG bunkering.



CNPC’s Kunlun Energy spin-off is also pursuing an LNG bunkering station network on the Yangtze.



China Changjiang views more than 100 of its river vessels as candidates to run on the fuel, including conversions and a fleet of 5000-dwt newbuildings.



The shipowner is the major operator on the Yangtze with a fleet of river vessels that numbers in the thousands. It is hoping to save money with the switch to LNG, although environmental benefits are also a plus.



“This is all about savings because gas relative to diesel and fuel oil is a financial benefit for the ship operator,” said a source involved in the project.



Fortune Oil has identified Chongqing, Wuhan and Nanjing as the ideal locations for fuelling stations to meet China Changjiang’s initial requirements. Each site could support a fleet of more than 150 vessels, assuming a single fuelling berth.



While securing land in Nanjing is expected to take some time, momentum is moving faster for the two sites farther upstream. One or both could begin operations this year.



Fortune Oil, which is also involved in supplying LNG to bus fleets in China, has already successfully tested dual fuel on a 3000-dwt bulk carrier owned by China Changjiang.



As one of the world’s busiest inland shipping corridors, the Yangtze has become a key focus for development of LNG use as a marine fuel. In the wider market, LNG fuelling is confronted with something of a Catch 22 situation in which a dearth of bunkering sites prevents LNG-powered ship orders, but a lack of LNG-fuelled ships prevents investment in fuelling stations.



With more than 89,000 vessels plying back and forth along the same busy route, the Yangtze dispenses with that constraint.



“LNG as a fuel works best on ships that are on set routes and with reasonably limited ranges where they are always within range of a fuelling station,” said one market pundit.








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Contact LNG Unlimited

too early, yet. we won't see 20p following this news!

I expect a very gradual rise form here.

『 China mulls tripling coalbed methane production subsidy: report 』 [2012-11-23]

China is considering tripling the subsidy given to coalbed methane producers to Yuan 0.6 (10 cents)/cubic meter, the Shanghai Securities Journal reported Friday, citing a government official.

The newspaper quoted Zhang Huangsheng, head of the research institute at the State Administration of Coal Mine Safety, as saying the central government is considering raising the existing subsidy for CBM production from Yuan 0.2/cu m to Yuan 0.6/cu m. In addition, it is also considering increasing the budget for technological innovation to improve coal mine safety from Yuan 3 billion to Yuan 5 billion.

China started giving subsidies to CBM operators in 2007 to help encourage production. There had also been speculation earlier this year of plans by the government to double this subsidy.

Other incentives given to producers include fully refundable value-added tax of 13% and exemption from import tariffs on certain drilling equipment. CBM prices to end-users are also negotiated directly between buyer and seller and are not regulated by the government.

In the first half of this year, CBM production in China totaled 6.43 Bcm, an increase of 22.8% year on year, the report said. Beijing has targeted 30 Bcm/year of production from CBM and surface coalmine methane by 2015.

China's CBM sector is dominated by state companies such as PetroChina, China United Coal Bed Methane, which have signed production sharing contracts with small-cap foreign companies such as Green Dragon Gas, Fortune Oil and Dart Energy. Much of the gas is currently produced from pilot areas within the PSCs and is monetized via nearby existing pipelines or liquefied and trucked to demand centers, including the transport sector.

China Gas Holdings close @ hk$ 5.200 up another4.6%
up 15.56% over past 3 days.
Great news for our F.T.O !!

Indeed it is.

Old habits.....
FTO is a partner with this company.....
Dart Energy (ASX: DTE) has received interest from an industry participant with oil and gas interests in Asia to enter into a strategic relationship with the company’s wholly owned subsidiary Dart Energy International.

Importantly, the deal will include a material participation by the industry participant in Dart Energy International’s planned IPO prior to listing on the AIM market of the London Stock Exchange.

Dart Energy now plans to fully evaluate the potential partnership prior to proceeding with the IPO.

A transaction of this nature could achieve a number of long-term strategic, operational and financial benefits for Dart Energy International, especially in Asia, and will strengthen the IPO.
I wonder who it is???????

The mind boggles,i wonder if its F-----oil??????

China Gas Holdings Close @ hk$ 5.350 up another 4%
Looks very interesting
Good news for our F.T.O

Keep an eye out for CGH results today..
Should be released very soon ...next hour or so..

A bid may still be on for CGH...

The stock price of CHINA GAS HOLD (00384.HK) has surged 16% in the past one week and 24% over the last three months, as the company issued positive profit alert on 21 November; market raised speculation that CHINA GAS HOLD will be taken over soon; and corporate governance issues have eased as the case of alleged embezzlement against its two executive directors was closed, Deutsche Bank said in a report. CHINA GAS HOLD is kept Hold with target price hiked from $3 to $4.4.

Very good results announced today could bring BEG out more into the open....

Thanks for info ruthbaby,very exiting times ahead.

Yes indeed, be interesting to see how much Sinopec are paying China Gas to distribute their gas through their network. Contractual agreement for long-term cooperation was agreed by the companies following the failed takeover, exactly the nature of this, I assume rental agreement for Sinopec to access China Gas customers makes me wonder how much they paid considering a considerable increase in profits is expected.

Interim Dividend 2011..
INTERIM DIVIDEND
The Directors do not recommend the payment of a interim dividend for the six months ended 30

September 2011 (six months ended 30 September 2010: Nil).
Interim Dividend 2012..
The directors resolved the payment of HK 2.2 cents per share of interim dividend.
The dividend will be paid on or about the the 31 January to shareholders to shareholders who's name appear on the registry 23rd of January..

They have made huge strides in reorganizing their activities and could be yielding more then their local peers now...