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Fortune Oil Share Chat (FTO)



Share Price: 12.75Bid: 12.75Ask: 13.50Change: -0.75 (-5.56%)Faller - Fortune Oil
Spread: 0.75Spread as %: 5.88%Open: 13.25High: 13.25Low: 12.75Yesterday’s Close: 13.50


Share Discussion for Fortune Oil (FTO)


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Del44
Posts: 1,489
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:8.81
chris211
21 Mar '13
Premium listing has more tighter regulations regarding where and when the company can seek approval from shareholders regarding the company...
Standard listing are less stringent....Check here for more help... http://www.wragge.com/analysis_5607.asp#.UUs5Yzc0_TQ

They are not additional shares...Large blocks of shares are sold off market more frequently in today's markets then in the past...If I want to sell 20 million shares in FTO, I would be better off selling to someone who wants that kind of volume. But it may mean having to sell for less then the market quoted price...Remember..quoted prices are only good for the lot size quoted..(FTO's is about 30k shares) The block is sold only when the buyers are in place but the transaction invariable will be carried out at a lower price....

The gas asset deal was announced along side the 18% increase in FTO's sp...but that is now gone and we are below where we were before that announcement... The deal now awaits approval from MOFCOM in China...hopefully sooner rather then later.. The company needs to apply more clarity to its intentions regarding the direction of the company now...
Also worth noting....someone has bought a lot of shares in FTO today at a decent price. The buying may even have been from Asia... Speculating now...:)
 
rugs
Posts: 289
Off Topic
Opinion:No Opinion
Price:8.81
del44
21 Mar '13
Yours much appreciated. So it could be Citibank, L&G or Goldman doing the selling as FTO no longer a 'premium listed stock'. Believe Citi ownership linked with Vitol but the other two have some 150 mio between them so we could see some heavy sales. Thanks your input
chris211
Posts: 655
Off Topic
Opinion:No Opinion
Price:8.85
dell44
21 Mar '13
Thanks for the information, great as always.

I dont understand the premium listing, what is that?

Are these ADDITIONAL shares been placed on the market? Or is it simply existing companies ditching their positions and the shares been purchased by other companies?

I am still working on the asumption that there will be upwards pressure once the whole CGH deal comes off? Any views on that?
Del44
Posts: 1,489
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:8.99
rugs
21 Mar '13
A large amount of stock has been sold in the past few days...for sure!!
About 1% of the company... and it was conducted off the main trading floor.... There are a number of institutions who may wish to sell out as this stock is no longer a premium listed stock. Some institutions have rules which prevent them holding stock in anything other then premium listed stock...so these may be sellers in the coming weeks as they unwind.
The market may be anticipating further large share sales and accordingly are not to keen to mark the price up.
How quickly buyers can be found is all important as we do not know who is now buying in at these levels......

With any luck...it may be Asian investors who see FTO as a backdoor way into one of the biggest growing companies in China presently.....
Keep an eye on the volume...and good luck..:)
rugs
Posts: 289
Off Topic
Opinion:No Opinion
Price:8.80
del44
21 Mar '13
Saw your reply to Chris. Where do you think the market is going to settle ? I used to be quite close to Vitol and I think they maintain their interest in FTO
Del44
Posts: 1,489
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:8.80
hku821
21 Mar '13
Would imagine you may get your wish...:)
I suspect there is quite a lot on shares out there on the bid side..
The company announces its annual results around the last week in April....
hku821
Posts: 1,015
Observation
Opinion:No Opinion
Price:9.01
Del
21 Mar '13
Many thanks, my old man has held these for years and I keep an eye on them. Seem very cheap, will see if more II selling tomorrow and probably take a stake if still under the magic 9p.

Cheers for the link.
Del44
Posts: 1,489
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:9.01
hku821
21 Mar '13
The latest report is here..
Cash position is good...
http://www.fortune-oil.com/upload/4490_FOR_HYR_12.pdf
hku821
Posts: 1,015
Question
Opinion:No Opinion
Price:9.03
FTO Presentation
21 Mar '13
Is there any overall presentation link anywhere struggled on the FTO website and was wondering cash levels etc? Looking cheap but like to see some more info, any suggestions?
Del44
Posts: 1,489
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:9.03
chris211
21 Mar '13
A large block of shares are been sold off market...To big an amount to put up on the market as the stock is too illiquid for that..
They were probably sold for 9p when the sp was showing over 10p in the market..
Somebody bought 18.5 million shares @ 9.25p this morning..
So you can have millions bought in the market, but the volume weighted price is going to be lower if the seller sold there lot @ 9p...The market is absorbing them.. But it also brings out more sellers as the volume is increased and bigger deals can be done...
The off market trades (Dark pool) gives sellers the option to sell large volume without going into the market outright...once you can find buyers for them...but at much lower prices...



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