profits ahead of last years.the company has 80% interest in a joint venture with china national petroleum corp(cnpc).market makers bought a lot of stock on friday followed by big buys on monday.profit taking on tues am then buyers back in pm.any views?

Thanks for that info dexter , i tend to be a little reserved on price targets but that jv did look a great deal for fortune. I rate the management team highly at Fortune, i believe they are giong to bring this company forward with some purpose.

regards

bowman

Countdown is on folks , any day between now and the 30th july for the sale of southern china bluesky aviation , both companies want the deal to go through. Both are eagerly awaiting approval from china.The management team at Fortune have always been confident the deal will go through before july30th.

regards

bowman.

Agree with dexter.The original bluesky deal looks better and once the approval comes who knows how far it will go.

morning all

Another day goes by, we move a step closer to the Bluesky deal being approved,should be any day now.

regards

bowman

It will be very interesting to see how the market reacts to it when it is announced. Could be a little or hopefully.....................A LOT!

we have a guide from when the deal was first struck , it did go up to 9.5p on that occasion before it was put on hold.Let see what happens approval has to take place soon

regards

bowman

Won't it be in the price already? 9.5 was after recommendation in Investor's Chronicle and it didn't stay there long.

The sale of china bluesky aviation has not been approved yet so how can it be in the price ? Secondly when it is approved it will be worth a lot more because the deal involved china aviation oil shares which have gone up nicely and there for when it is approved fortune will get a lot more than the original value of the deal . Also those options they are entitlled to look very promising indeed .

Fortune Oil goes up nicely as we get closer to the approval of the sale of Blue sky aviation oil to china aviation oil. Look on thursday for any news.

regards bowman.

why thursday?

morning all,
is this bluesky approval just a formality?,if that is the case i would have expected the price to be a lot higher.i just don`t understand why,with the results being good and a new JV announced as well as the increase they are getting for bluesky there isn`t more of a move upwards.please someone tell me i am not missing something,it`s driving me to drink!!.
cheers,
dexter

market sentiment im afraid !! what shares are going up not a lot !! most of market is flat or trending down switch off the pc come back in a months time as fortune will go up but patience is req as in jkx was 10p now 1.20ish worth waiting for just a bit boring i must admit !!

Hi guys , it did appear something was about to happen with Fortune Oil after yesterdays rise. False dawn not to worry only a few days left in the month i can only reiterate Bluesky is purely procedural. China Aviation Oil having being saying all along that the Fortue oil stake in Bluesky is now theirs and both company's are very happy with the deal. Fortune have also said that this is a formality ,why jeopadise their reputation. When it does happen the share price looks set to rise and shareholders will get a slice of the deal in the form of a special dividend. The deal is worth a lot more than when originally on the table.

regards bowman

i wish they would hurry along with the bluesky aviation sale, its got to happen before the end of july so there is only a week to go now.

regards bowman

Price is creeping up.
Just be patient

Are we going to get the all important news of the sale of Bluesky aviation oil this week ??? Approval is due by end of july , so that narrows it down to this week . Shareholders will benefit by the sale as well as the company being able to concentrate on core holdings. Fortune Oil looks to have a bright future.

news is expected tomarrow after close of our trading times.tueseday will be all action

basharat,hope you are right.Where did you pick up this information ?

I think I see how this share dealing lark works now.The company doesn't release any news- so the price goes down on worries that there might be bad news to come. Then the company releases some good news-so the price goes down because-
(A)..Investors have previously factored any upcoming good news into the current price.
(B)..The news wasn't as good as investors had hoped it would be, so the good news that they had been factoring in was not as productive.
(C)..This month Jupiter is aligned with Mars.

morning basharat,
is this tuesday date for release informed or hopeful as it has dragged on for so long, i can`t find any recent info. anywhere, and i`ve spent hours looking!.please tell us where to look.
thanks ,dexter