Company Web page

Fortune Oil

 

Page details. The linked page has shareprice links too.

This page contains the text of three significant recent announced events and the pipeline project

Company official webpage here - see e.mail link.

Company E.Mail link here

Mail details see the foot of this page Reporting see below.

Late April or Early May

Report for the previous calendar year up to end December.

Late September

Report for the calendar half year up to end June.

Merry Christmas to all.

A Happy New Year.

The shareprice has made remarkable recent gains. The notes below may help explain some of this.

Charts from Barclays. On February 18th. The fall back to around 7.5p suggests a pause in the rise, with range trading between 7 and 8p for a time.

Note the link between volume and rises. Also (as hinted by "Rothchild's Pigeon") the RSI "low" in early Feb. ahead of the latest surge!

RNS

RNS Number:0437V Fortune Oil PLC 05 February 2004

 

For immediate release

 

5 February 2004

 Fortune Oil PLC ("Fortune" or "the Company")

Proposed disposal of Fortune Aviation Holding Limited ("Fortune Aviation"), which owns a 24.5 per cent. interest in South China Bluesky Aviation Oil Company Limited ("Bluesky") to China Aviation Oil (Singapore) Corporation Limited ("CAO")

Highlights

PROPOSED SALE OF FORTUNE'S EFFECTIVE 24.5 PER CENT. SHAREHOLDING IN Bluesky, which supplies aviation fuel across a network of airports in southern and central China.

THE PURCHASER IS CAO, A CHINESE AVIATION SERVICES COMPANY, LISTED ON the Singapore Stock Exchange, with a current market capitalisation of SG$995 million (#322 million)

THE TOTAL CONSIDERATION IS WORTH #31.8 MILLION, COMPRISING #11.9 million in cash, 37.76 million new shares in CAO worth #17.6 million (based on the closing middle market price of SG$1.44 per CAO share as at 4 February 2004), and an option over a further 26 million shares in CAO worth approximately #2.3 million

THE TOTAL CONSIDERATION REPRESENTS 46 PER CENT. OF FORTUNE'S CURRENT market capitalisation, and exceeds Fortune's share of Bluesky's net assets of #16.6 million as at 31 December 2002, by #15.2 million

Bruce McGowan, Executive Vice Chairman of Fortune, commented:

"We are disposing of our investment in Bluesky for very sound financial and strategic reasons. We are being offered an excellent price which will considerably strengthen our financial position. We retain some exposure to the aviation industry through our shareholding in CAO, and we are also immediately better placed to finance our own expansion plans, especially in the natural gas industry. This is also an endorsement of our strategy of recognising investment opportunities at an early stage, developing them and ultimately realising value."

RNS Number:1390V Fortune Oil PLC 06 February 2004

SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

Director Share Purchase

1. Name of company 2. Name of director

FORTUNE OIL PLC TREVOR BEDFORD

SHAREHOLDER NAMED IN 2 ABOVE TREVOR BEDFORD

  discretionary

RELATES TO DIRECTOR NAMED IN 2 ABOVE PURCHASE

7. Number of shares/ 8. Percentage of issued 9. Number of shares/ 10. Percentage of issued

  amount of stock class amount of stock class

  acquired disposed

  170,000 0.012 NONE NONE

  82,500 0.006

  11. Class of security 12. Price per share 13. Date of transaction 14. Date company informed

  ORDINARY 1P 5.75p 5 FEBRUARY 2004 6 FEBRUARY 2004

  5.90p

15. Total holding following this notification 16. Total percentage holding of issued class following

  this notification

  1,353,055 0.095

SANDI CHOI 020 7589 2233

 

25. Name and signature of authorised company official responsible for making this notification

SANDI CHOI

Date of notification 6 FEBRUARY 2004

RNS Number:3123V Fortune Oil PLC 12 February 2004

FORTUNE OIL PLC

("Fortune Oil" or "the Company")

SENIOR MANAGEMENT APPOINTMENT

John Pexton

Fortune Oil is pleased to announce the appointment of John Pexton as Deputy Chief Executive with immediate effect.

Mr. Pexton, 43, has a background both in investment banking and the oil industry. Educated at Jesus College, Cambridge and London Business School, Mr. Pexton spent seven years in the downstream oil industry with KBC Advanced Technologies. In 1993 he joined the Project Finance department of Morgan Grenfell, part of the Deutsche Bank Group. During the last decade he has focused on corporate and project finance in the oil & gas and petrochemicals sectors, particularly in China and the Middle East.

Experience

His significant experience includes:

  * Director, Corporate Finance and Head of Asia Project Finance for Deutsche Bank AG, Hong Kong Branch, and advising PetroChina on the West-East Gas Pipeline Project..

* Developing Deutsche Bank's Middle East energy business, including privatisation and structured finance.

* Qualified chartered chemical engineer, working on oil & gas projects across the globe.

Mr. Pexton lives in Hong Kong and will be based at Fortune Oil's headquarters in Hong Kong.

Comment

Bruce McGowan, Executive Vice Chairman of Fortune Oil, commented:

"I am delighted to welcome John to Fortune Oil and look forward to working with him. His considerable experience in corporate and project finance within the oil and gas sector will be a huge asset for the company and I believe he will help us to exploit future business opportunities."

ENQUIRIES:

Fortune Oil PLC Tel. 020 7589 2233

Bruce McGowan, Executive Vice Chairman

ICIS Limited Tel. 020 7628 1114 or

Archie Berens 07802 442486

 

The Pipeline Joint Venture.

Rigzone.com July 2003

Fortune has agreed to take up to an 80 percent share in a joint venture with China National Petroleum Corporation, which will own and operate four distribution pipelines. The pipelines will offtake natural gas from the Shaanxi-Beijing trunk pipeline system for supply to the cities of Shouzhou, Pinglu, Jinshajing and Tianjin. The joint venture will also construct local gas reticulation systems and will sell natural gas to domestic and industrial consumers in the cities.

Fortune's initial investment is expected to be £3 million and will be payable from cash and banking facilities. Asset valuations and due diligence have commenced and a further announcement will be made as soon as these are completed.

Yahoo July 2003

Short Term Commentary

The stock´s short term trend strength is ascending rapidly. The price is in a rally, we will now let the profits run.

Medium Term Commentary

Medium term price trend for Fortune Oil PLC is still bullish this week. This stock overperforms the FTSE 100 INDEX by 10.77 %. Volatility has been decreasing during last month. Be alert to the proximity of resistance 1.75 , and a possible retracement from this level. Daily and weekly technical indicators, alert of the proximity of a market TOP. Keep track of possible bearish divergences on RSI that will confirm this scenario.

 

Page compiled 17th. February 2004 revised 19th February 2004