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 agree,or news on gold in them there hills.

Circular delayed until : on or before 15th Feb.

CGH is very close to HK$7.
FTO is approaching 100% profit in its investment there.

RNS Number : 6556V
Fortune Oil PLC
16 January 2013
FORTUNE OIL PLC

("Fortune Oil" or the "Company")

Proposed disposal of the Natural Gas Business (the "Proposed Transaction")

Fortune Oil (LSE: FTO.L) focuses on oil, natural gas and resource supply operations and investments, primarily in China. Fortune Oil is listed on the Main Market of the London Stock Exchange.

Further to the Company's announcement of 17 December 2012, Fortune Oil is pleased to announce that it has received a formal waiver from the facility agent on behalf of the over two thirds majority of lenders from the Fortune Oil group's medium term lending syndicate. Accordingly this condition in the sale and purchase agreement of the Proposed Transaction has now been satisfied.

The Company will send a circular to shareholders in due course which will contain the details of the General Meeting in order to approve the Proposed Transaction.

We could do with some positive news ,to move sp.

Well CGH shareholders vote Feb 8th. so should be getting FTO circular shortly. Details about JORC on Armenian mine should be published soon also...

Think we could do with any news at this moment...:-)

I agree,but patience will be rewarded.

The short term chart is turning bearish....
It needs a 12p or more finish today or it will have lost its momentum going forward...
Not sure if there are that many buyers around for that.....
This position has not been broken for over a year now and after a few trys, it looks to be faltering...again..

DELAY IN DESPATCH OF CIRCULAR IN RELATION TO
DISCLOSABLE AND CONNECTED TRANSACTION
PROPOSED ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL OF
FORTUNE GAS INVESTMENT HOLDINGS LIMITED
ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE

As additional time is required to prepare the content of the Circular, the Company expects that the despatch of the Circular will be postponed to on or before 15 February 2013

Nothing new where FTO is concerned....everything always runs way beyond schedule...
Look at Liulin CBM...

oh golly gosh! ..... not yet another chinese company failing to deliver surely?

Big fall away in CGH sp lately..
CGH hold their egm this Friday and vote on the deal with FTO....may hear something before the close of business on that day....

From another board on rns :- In essence the rest of the business for free


The gross consideration for the Proposed Transaction represents a premium of circa 18.5 per cent. to the Company's market capitalisation on 14 December 2012, being the last Business Day prior to the date of the announcement of the Proposed Transaction. The Proposed Transaction therefore represents a significant value realisation opportunity for Shareholders.

Position sold, profit taken..

On balance this is not a great rns...
The market has no trust in this stock and to mention you are losing your premium listing is not going to go down well....plus it has been delivered on a sell of day on markets in general...

The price drop as usual with this stock has been over done but has to be expected as any long termers here would know....I hope I am wrong....but could see further fall today as more PIs sell out who did not yesterday.....
It seems to be looking like a reverse T/O in slow motion or something similar...
Anyway... we have dropped significantly to break most uptrend developed recently.....drawing board comes to mind!!!

company aka lose-a-fortune-oil

Sitting on good gain,bought in @ 8.5 -9.5 range.

so bank it before you lose it all :-)

Thanks cynic,I think I will hold a bit longer.