Member Info for Del44

I know over here in the UK, nobody is interested in FTO..... But at the very most there is 45% of an undervalued company, with a substantial interest in a high growth, high sector and highly lucrative up and coming future economy. How ever you dice it, even if FTO end up going private, it would still be a big earner to grab a decent size chunk of it and stay with it after it goes private..... I would imagine the Daniel Chieu wants it private because of the future earnings about to come on stream... Other then the recent tranche of 13,250,000 bought @ around HK$14.70 from Sinopec, all our shares in CGH were hugely lower then the current depressed price of HK$12.. I had done the maths somewhere before (when I cared..:-) ) and had worked out an average buying price of about HK$7.50. And that included our conversion shares for the FGIH purchase. I think they have room to improve the offer and hopefully someone else in the Chinese energy sector will see that soon... A hold in my book, with perhaps a speculative buy for others, who like a gamble......

If you are not in a hurry or a need for the monies invested in FTO, then I would "suggest" (not advise) you hold for the foreseeable future...ie...the offer document is posted out..... There is 10p potentially on the table at the moment against 9.34p in the market as we speak... The offer document may have reviewed terms (may not) but it should make clearer the cvr situation, or at least put more meat on the bones of the scheme.... So I would suggest if your in to hold, for now...provided you are not desperate for the cash for Christmas or to pay off a bill.....Good luck either way innes...:-)

I understand by law the compulsory rate would be the same terms as the offer....... 4. Fortune Dynasty reserves the right to elect with the consent of the Takeover Panel (where necessary) to implement the Acquisition by way of an Offer. In such event, the acquisition will be implemented on substantially the same terms, subject to appropriate amendments, as those which would apply to the Acquisition. The acceptance condition would be set at 90 per cent. of the shares to which such Offer relates (or such lesser percentage (being more than 50 per cent.) as Fortune Dynasty may decide with the consent of the Takeover Panel). Further, if sufficient acceptance of the Offer are received and/or sufficient Fortune Oil Shares are otherwise acquired, it is the intention of Fortune Dynasty to apply the provisions of the Act to compulsorily acquire any outstanding Fortune Oil Shares to which such offer relates.

Dont blame you...:-) At the moment you have 2 choices at your disposal... 1. You can say "enough is enough" and take the best bid in the market now. Currently you would sell for about 9.34p per share. 2. Wait until the "Offer document" is published and dispatched to shareholders to peruse at there leisure. If nothing else changes, then you can fill out the acceptance form attached to the offer document and send it in with any share certs you have, return post. Within 2 weeks Fortune Dynasty will pay you 10p per share...plus a cvr for each share you own.... Weather the cvr has real value, you will just have to wait and see..... That's it really....

It is not a done deal as we stand. Fortune Dynasty is of course saying that the company will be DE-listed from the 2 of March 2015...but with 45% of the company shares not in Fortune Dynasty's hands, that would not at all be too the there advantage. There are some institutional investors in FTO still and I am quite sure they may not be to pleased with this offer.... So, the offer document may be changed (or it may not). I believe the rns of Thursday was perhaps the opening shot and they may indeed have room to maneuver before going to print....I hope

The rns the other day was just alerting the market to an offer for FTO... The offer document when it comes will be the real deal....That will be the offer and can only be changed in the event of a third party entering the fray, which is unlikely here..... The offer document to be published and dispatched around the 14th January will be the one we vote on...

From a fellow investor on another board....alandale.... He writes as follows....... I have just had a VERY interesting conversation with Frank Attwood. It would seem that we are being right royally stitched up and the CVR is not worth the paper it is written on. It will only effectively be honoured should someone make a takeover bid for CGH in the next twelve months. The 11p minimum price would seem to be meaningless. The price can remain happily at say 13p over the year and they can still decide not to sell. Indeed, they won’t. The issue is the arrangement that Chiu has with Liu that even the share of CGH that Fortune owns outright is part of a long term commitment to CGH that can only be broken if there is an outright bid that releases it. I would suggest that is Chiu’s problem, not ours. Fortune is effectively a business earning 3p a share (although the CGH interest is taken as a dividend). A price earnings ratio of 3 when our principle asset is on a P/E of 20 is derisory. Now we have options. The offer has to surmount some high hurdles. First it is only open to the 45% of shares not held by the bidders. Second the bid has to command a majority of physical shareholders that vote; second it has to command 75% of the shares that are voted. Now I know someone who specialises in representing minority shareholders in precisely this kind of situation. I will keep you posted on what happens. In the meantime I would urge you contact as many people as possible, especially on other blogs if you have access. All feedback is welcome. Attwood accepted the bid because it was the only way he could see of realising value in the short term. It seems that all earnings will go to liquidate the debt that has been run up to buy CGH shares which is hidden away in the CGG accounts but not in ours. I’d really, really like to know Ian Taylor’s take on this shoddy little number.

LOL....Yes, I too viewed it through a slightly alcoholic haze....:-) Will check it later, without the haze...

...apparently has some up dated documents pertaining to the offer....I cant seem to get beyond the "I agree" click button. Some of you may have better luck....from gwatson56 on another board.... http://www.fortune-oil.com/en_us/investor_announcement.htm

I don't think the sp is going anywhere fast from its current position... A rival bidder can not even be priced in at this level. So more a case of waiting for the offer document to be posted...... At least we got our end of year spike again....LOL...

I think at this moment in time, the price is about right considering yesterday's rns... It is just a case of waiting for the document to arrive and it should put more meat on the bones of rns. On balance, there would appear to be a lot more buying at these low prices today then yesterday. I would not be a seller at this moment. Like leaving a football match, with 5 minutes of injury time to be added on now...LOL.. Stay in your seat...:-)

No need for apologies sir....and I understand where you are coming from...... Disregard my post and have a great Christmas......

I'm really pleased for you nickyg but do you have to keep repeating that mantra each time you post? There are plenty of investors who are stung by this company. Many who bought above 10p. We all make our own investment decision...some work some don't..... GLA....

I wont sell into the market at the moment. Most likely I will take the terms of 10p cash offer with the cvr string, just to be on the safe side!! Or for some strange reason if the bid should go above 10p in the market, I will take that. Quindell and Kenmare?...A year you would want to forget Andytigger...:-(

More or less...yes..... They need 75% of the scheme votes to go through....Highly likely they will get that as many investors here have had enough with this company... It is a low ball offer but an offer an a way out none the less...

Hi cipro..... The offer is 10p....CASH!! The carrot is another 5p...BUT IT DEPENDS ON TWO THINGS........ (a) the Fortune Oil Group and China Gas Group shall, during the CVR Term, have sold to a CVR Third Party, solely for cash, an aggregate number of the China Gas Holdings Shares exceeding 199,385,362 China Gas Holdings Shares (representing in excess of 35 per cent. of all of the Fortune Oil Group's direct and indirect interests in the China Gas Holdings Shares at the date of this Announcement); and (b) the volume-weighted average per share price of all China Gas Holdings Shares sold by the Fortune Oil Group and China Gas Group to a CVR Third Party, solely for cash, during the CVR Term shall be in excess of HK$11. That is an interesting number.........199,385,362...because FTO own DIRECTLY...197,371,463..... We own indirectly through CGG....737,374,000 but we do not have control over the selling of these shares according to the board... So then, we do not have enough shares outright to trigger that clause A above....:-) So it looks at the moment unlikely to happen.... So we have a 10 p cash offer on the table......that all.......:-)

....just in from work and was amazed to see a big blue day. Before going to the rns, I guessed as to what may lie behind this move upwards....Surprise surprise, it was a tabled offer in cash of 10p per share...I suspected it a while back...:-) Just going through the rns now.....

This is old news. When all licenses are granted they usually invoke some form of expenditure over a period of time in order to maintain the license. For example if an oil exploration license is granted, it usually has as an attachment, that certain monies has to be spent in the first year and the second year and the third year excetra in order to develop the license. FTO has decided not to spend any further monies on this project until economic conditions materially improve to make the venture profitable... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FTO&ArticleCode=jv91stwo&ArticleHeadline=Re_Armenian_Iron_Ore_Project This is standard procedure by any Government in any country to ascertain the future prospects for development of the license.

Goldman Sachs expected that excluding one-off items, CHINA GAS HOLD (00384.HK) +0.080 (+0.570%) Short selling $19.82M; Ratio 7.289% will record a core net profit of 30% yearly to $1.628 billion in 1H, representing 50% of the full-year estimates. The increase was mainly attributable to the 17.8% year-on-year growth of gas sales volume and 14% increase in connection revenue. The broker lifted the earnings forecast of 2014 to 2016 by 6/4/2%, reflecting the higher connection fee bookings. The target price was raised from $11 to $12 and the rating was maintained at Neutral. http://www.aastocks.com/en/stocks/news/aafn-news/NOW.640421/1

On second reading of it, it looks like CGH are buying out the none Beijing gas assets from BEHL....