Fortune Oil Share Price (FTO)

Those are some more interesting shares arent they! I have stuck more with the UK index. With the FTSE at 6800 though I am really starting to think about getting out of my main holdings. It really does seem to me that its overheated....

Got this from 25/3/2010 RNS about Liulin reserves... In December 2009 FLG and CUCBM completed the application for certification of reserves totalling 5 billion cubic metres (180 billion cubic feet) for seams 3, 4 and 5 in a northern section of the block. The formal certification is still awaiting a final sign-off from the Ministry of Land and Resources. Application for reserves certification for additional coal seams across the block will be possible once the 2010 drilling campaign has been completed. Against this from IMS of 17/5/2013.... Chinese Reserves Certification obtained across the Liulin block for seams 3,4,5,8 and 9. The Chinese certification reported a total gas in place of 21.8 billion cubic meters. That is quite an increase from just the northern section of the block... I almost missed that... The technology that FLG uses is specific for the geological area, which is vastly different from USA fields... Price increases are due for wellhead extraction and also because it is an conventional energy, the tax is much lower as well. China Industry regulators are gaining the ear of high official at last, and are now pushing for reform of the industry rather then any form of "Quantitative easing" Reduce the red tape and speed up the bureaucracy process.. With CGH now well financed....FLG could now be looked upon for some bigger developments, with a bit more muscle behind it...:) Also a good read posted on iii board from Phillip Reid. Thanks Phillip...great find... http://uk.finance.yahoo.com/news/china-president-takes-charge-sweeping-053534356.html;_ylt=ApopBdejuUAK6uplBLZvYGTSr7FG;_ylu=X3oDMTNya2prYW80BG1pdANGUCBUb3AgU3RvcnkgTGVmdARwa2cDYzUyMzRiZjEtZmI5Ni0zNDBiLTg5MWMtZWI1ODc3NGQzODk4BHBvcwMxBHNlYwN0b3Bfc3RvcnkEdmVyA2NkNjRlMGEwLWJlYjMtMTFlMi1hNzdhLTVjMDljYmZmNDRjMA--;_ylg=X3oDMTFkajQyMG9pBGludGwDZ2IEbGFuZwNlbi1nYgRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA--;_ylv=3

Hi chrs211 in answer to your other shares question, I also hold West African Minerals ( WAFM ) bought this as Emerging Metals after reading an article about Stephen Dattels in the Sunday Times a couple of years ago.he has done something similar before and made himself a fortune. I admit this is not the best way but it has proved very good , with a sizable return of the original invesment when restructered and after buying more last year at less than todays price they shot to 90p so flogged some. other than this and Fortune Oil I am mostly funds China Latin America, slightly more adventourous ones.

Thanks for the comments..but just sharing what I find.... It may be helpful to some..it may not. With regards to the IMS today..(just in from work) I am more confident now in our guarantee to CGH (should the deal get approval) of FTO reaching its set targets in the sale prospectus for net gas profits. With the market connections increasing along with Natural Gas Sales volumes increasing 21 per cent. to 151.3 million cubic metres in Q1 (Q1 2012: 125.6 million cubic meters)...I feel it is less likely that any penalty for shortfall on these projections.... The potential deal looks more secure.... CBM has had a big increase in reserves(and we could still buy out Dart energy Int's % stake yet) Very surprised with the progress at Armenia....I am warming to this project now...:) From iii board....any chartists?... Start with the obvious....short term ..bullish but only up to 8.75p (in below 8p..not bad) Remember opening trade today @ 8.25p & a closing trade of 8.37p. Some clarification on L&G would be nice as it over hangs the market.....perhaps someone knows... Not the traders...they stayed away today...all ordinary investors getting in today.. Watch Monday trading...if many trades done above 8.75p then signal change on the way.. If not...nothing new...:) Good weekend....

From what I read he would be too modest to accept it! I would support your nomination though! I too enjoy to read his insights. Off topic (If anyone is interested?), what other shares are we all currently buying and why? To me the construction sector shares look cheap (arguably for a reason). Balfour Beaty BBY and Carillion CLLN for example are yielding over 6% and are covered more than twice with earnings. BBY have recently issued a profit warning but seem to have things under control, both of these shares seem to have some upside in future. Oil service firms Petrofac, AMEC and Kentz Corporation also seem to going for very low valuations with good strong 5 year growth, there seems to be a disconect in my opinion between there valuation and current SP. WPP and such like I feel are expensive given the lack of events in 2013. What are we all buying and why? Anything that I should know about! Thanks

I have held Fortune Oil shares since they were first listed, I have bought and sold over the years and made a few bob . I read the chat every day and I find more recently we have very sensible posts from everyone. But Dell44 has been outstanding with informative understandable research. I hope for us all that these fly but particularly for Dell44, Thank Denis