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.

FTO. up 1p could be more on the way :)

I'm out today. I've held FTO for about 5 years when I bought them for 1.5p. In the current markets I've cashed in on a rare winner and will be sitting tight for a while before dipping my toes in elsewhere. Good luck to all holders.

The rise in Yuan result in higher asset value of FTO. FTO has been expanding rapidly during last two years with many new projects.

FTO. GAS BUSINESS UPDATE,

FTO Market Cap is 180M and one if its subsideries is spending 2M sharing a Gas pipeline project to an Industrial Park. The future is bright IMO.

LONDON (Thomson Financial) - Fortune Oil Plc. said it has received approval for its Tianjin Tianhui Natural Gas Limited joint venture to construct a high capacity gas pipeline from Xiao-Bian-Zhuang to the Jinghai Industrial Park in Tianjin.

The company said construction of the pipeline is expected to be completed by the end of 2008.

The cost of the pipeline will be 5.1 million pounds, of which Fortune Oil's net share is 2.04 million pounds.

Tianjin Tianhui Natural Gas Limited is owned 50 percent by a Fortune Oil subsidiary and 50 percent by the Tianjin city government.

Profit by china oil company will exceed Exon Mobile and Shell...

Good set of results.

SP should move up on news today.

FORTUNE OIL PLC
('Fortune Oil' or 'the Company')
Placement of US$36 million in Fortune Gas by Wilmar
Fortune Oil is pleased to announce the finalisation of a Shareholders Agreement and fulfilment of all conditions precedent for Wilmar International Limited ('Wilmar') to invest US$36 million in Fortune Gas Investment Holdings Limited ('Fortune Gas'). Following completion, Wilmar will hold 15 per cent of the enlarged share capital of Fortune Gas, a Hong Kong registered company holding all of the Company's gas operations, including the gas distribution and coal seam gas business. Completion will take place by 5 November upon payment of the subscription amount and the allotment of shares in Fortune Gas. On completion, Fortune Oil will own 85 per cent of Fortune Gas.

Wilmar is Asia's leading agribusiness group and ranks amongst the largest listed companies by market capitalisation on the Singapore Exchange.

The funds raised will be invested in the growing gas distribution and coal seam gas business of Fortune Gas and will provide the funding required to continue the development of this business. These funds are in addition to the 9.85 million raised by Fortune Oil through a placement of shares with Creation Investments Limited, a wholly owned subsidiary of Kerry Holdings Limited announced on 4 July 2008.

Fortune Oil announced on 1 September 2008 that the Company had also signed a conditional Subscription Agreement with Star Medal Limited, another wholly owned subsidiary of Kerry Holdings Limited for an investment of US$36 million for a 15 per cent interest in Fortune Gas. The Company and Kerry Holdings have mutually agreed for Kerry Holdings to continue to support the growth of Fortune Gas through Fortune Oil, and have rescinded the 1 September 2008 agreement. Kerry Holdings continues to hold 4.74 per cent of Fortune Oil's fully diluted share capital through Creation Investments Limited.

Revenues from the gas business continue to grow in line with expectations, with no apparent impact from the slow-down in China's GDP growth rate. The Board of Fortune Oil does not expect the demand for gas from customers to be affected by the current changes in the global economy and the demand for natural gas as a clean fuel continues to exceed supply. The Company will provide a detailed update of its operating performance in the Interim Management Statement, due to be released on 10 November.




Oct 29 (Reuters)
Fortune Oil Plc, a provider of gas and oil infrastructure in China, said on Wednesday that Hong Kong-based Kerry Holdings Ltd will not be investing the planned $36 million in the company.

Fortune Oil said it mutually agreed with Kerry to rescind the subscription agreement announced on Sept. 1, whereby Kerry was to make the investment for a 15 percent stake in Fortune Gas, the holding company for Fortune Oil's gas operations.

However, Kerry, an investment vehicle controlled by billionaire Robert Kuok, will continue to support the growth of Fortune Gas through Fortune Oil. Kerry already holds a 4.74 percent stake in Fortune Oil after having invested 9.9 million pounds ($15.85 million) in a placing in July.

Fortune Oil also said it has completed the formalities related to the $36 million investment by palm oil firm Wilmar International Ltd. Fortune Oil said revenue from its gas business continues to grow in line with expectations.

31 October 2008
FORTUNE OIL PLC
('Fortune Oil' or 'the Company')

Long Term Incentive Plan Awards
Fortune Oil announces today the 2008 notional bonus awards for the performance period 1 June 2008 to 31 May 2009 under the Fortune Oil PLC Senior Executive Incentive Plan (the 'Plan'). The Plan is operated by the trustees of the Company's Employee Benefit Trust, JTC Trustees Limited, subject to the rules of the Company's Long Term Incentive Plan (the 'LTIP Rules'). The ordinary shares of 1p each of the Company ('Fortune Shares') over which the options will be exercisable have already been issued and are held in the Company's Employee Benefit Trust.

Each option is a nil cost option and the number of Fortune Shares to which the individual is entitled under the option will vary. Each award is subject to the satisfaction of personal performance targets and may be enhanced on meeting Company performance targets. This announcement refers to Fortune Shares awardable in respect of the year commencing 1 June 2008; the announcements on 26 June and 1 July gave details of awards for the years commencing 1 June 2007 and 2005 respectively.

The number of Fortune Shares over which the options will be granted is the number of Fortune Shares which the notional bonus can buy on the first anniversary of the date of grant of the option. The following Directors and the Persons Discharging Managerial Responsibility (PDMRs) have accepted notional bonus for the performance period 1 June 2008 to 31 May 2009:

steady tick up last few days

I'm impressed all oils are doing well.

I have kept my holdings,management statement due on 10.11.08. it might knock your socks off !!

It certainly has growth is back in line.

no trade today and 8% fall>

No trade and 7.22 at the close?

Still looks good remember the consumption of natural gas grew by more than 40% to 278 million cubic metres during January to October over the same period last year. Another shocking winter will see demand rise further and dont forget FTO controls the largest oil terminal in China. Which is the worlds second largest importer and consumer of crude oil in the world regardless of down turn.

With our obvious interest in Bluesky
Note Air China has soared 13.5 pct on capital injection hopes !

Have to be patient until next news.

Agree ! Bought another chunk yesterday 19000+ @6.83p but no show on buy register or late trade today all a bit odd. Also a rise in spread 7.35 to 6.50p which equates to 10.88% increase ! Wierd as no trades.