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.

I wonder what the sp will be in March 2013? you could be on a good thing.
good luck to you.

Thanks, been in and out of Fortune now for years, share price never really seams to maintain any momentum though. At 9p its a fairly safe play, I can always roll over the Future come March. Its a decent stock, I've held equity before but nowadays prefer the leverage of a spread, at 9p the downside risk to loss isn't high. I'll never know why this isn't trading for 20p, I've long thought it worth it.

I have been in and out of fto since they were 2p,,sold the lot about 2years ago,made a really good profit,recently built up a large holding,waiting for the next spike,as you say they should be trading above present levels.
Good luck to all the patient ones.

Good luck Shortie..

I can see this sub 8p

That's a statement, care to explain why or add any figures to it?

My buy 10k appears as a sell?
this happens fairly often.

Level 2 shows a sell transaction at 09:10:01 of 10,000 at a price of 8.97. This is the sell transaction. What price did you buy at as I suspect this is yet to show.

That is my buy transaction at 09.10.01. 10k @8.97.
this happens fairly often,i use hsbc invest direct ,i was offered this price
for[the next 9 seconds or so] and bought them.

This isn't an error with your transaction showing incorrectly, FTO isn't liquid enough for SETS, so whats showing is the broker sell order lodged on SEAQ that sold. Your trade would have yet to show and will probally go through out of hours. The below link will help explain.

http://www.trade2win.com/traderpedia/SETS

Thanks for that shortie,have a good day.

Thanks for that shortie,have a good day.

This stock needs news and news quickly as it is starting to settle below 9p for trade..
Already 9.5p looks a distant view......

In short shortie there ant the interest there and the news which a number of rampers suggest is coming may not be what they think. Nice little company but lack of news will continue to push it down. I have been in and out of this stock since it was sub 2p. At the moment ther ant the momentum and thats why i see it dropping sub 8.

elbow, who on here is ramping this share?
I am certainly one of those who is waiting on news about the current bid regarding CGH.
I do believe this is a very large gamble taken by the bod of FTO...The stake is currently worth about £210 million which is more then the current overall market cap for FTO..
I would disagree that there are rampers here, quite the contrary. Investors who are merely hoping for the best.

All expectations appear to be fading here.... :-)

We may on the other hand recieve news obout CGH link up /takeover.
Lets be positive ,the management have done a good job this far,i must
admit the SP is a bit of a mystery.

The deadline date is 15th Oct + 7 days.
To my knowledge even at this stage there had been no response from Chinese authorities on the bid,,,how much time do they need???

We must have news in the next few days?

Two further long positions opened, December 2012 and another March 2013.