Member Info for Quady

Agreed chaps , however maybe our fortune in this share ( excuse the very bad pun ) is that we get increasing dividends over the years , I think the up and coming liberalisation of the energy markets and the less restrictive currency controls , which in my opinion are coming , can only improve the situation , Only bad news I could see was the Armenia iron ore , but hope there as well .

Good morning , interim statement is out this morning , have a read and enjoy . http://www.investegate.co.uk/fortune-oil-plc--fto-/rns/interim-management-statement/201311190700133682T/

Looking forward to Monday , have been holding off with my divi , but just brought in at 9.48 , not as good as Dels , but hoping for some real direction in the company , that makes more sense of this share .

Just a thought , We have two very cash intensive projects in hand , Moaming decision anyday , and Armenia ( iron ore ) looks to be moving if not slowly . We are going to require large amounts of cash , and believe that the BOD have planned a long time for this , as we have a revenue stream coming in from CGH , our recent recapitalisation , and some dilution of the company , through extra share issue . Not to mention FTO creates cash in its own right . To me this seems to be a company that maximises the cash it has on the books , and plans for the future . At some point this share will be understood in the wider market . ( As always this opinion only ) however , this is not a company that is going to have to go to the banks cap in hand anytime soon . I add this as I do not believe that the major banks around the world , will meet the capital requirements for Basel 3 in the alloted time period , and as such we will have liquidity issues with the banks for many years . The old saying cash is king , is truer today than it has ever been .

Interesting point , however , I dont think it matters at what price we get the shares in CGH , as the trend will be upwards and it will add to our 7 per cent of CGH ( someone correct me if I am wrong ) not only do I look forward to increasing dividends on our balance sheet from CGH , I believe FTO is poised nicely to work in partnership with CGH , I am thinking of Moaming , The shares are nice , but a lot more to this deal than meets the eye .

Hello Chris , Just reread my mail , and see how it could be taken . I owe you an apology , my post was not about you , I was being sacastic about FTO , as I have done what you have done with other shares . I am annoyed with myself , as always think I will miss out on a substantial rise the minute I get out , in order to come in at a lower price . I need to learn with this share , I am holding onto the cash in my ISA , and will wait for the price to dip again , or have a punt in another share , when my Vodafone dividend comes in about March . Wish you well .

Thank you for your post Chris , I feel so much better , please tell me when your in again , and when its time to get out . I know I should listen to you , and would make more money , but right now , I feel totally Stupid , as I have also been in this share for years and topped up slowly . Still sitting on a tidy profit , so will continue , and consol myself with a whisky Mac or two tonight , After all tomorrow is another day . My main holding in Vodafone , looking better and another big divi coming their . Will either put it in FTO when price below 8p ( because I am stupid ) Or looking at another bet Reneuron (totally unsound , but then again I am stupid ) .

We must all be mad , fully understand that there is no demand in this share , and knowing still did not sell at 11p yesterday and buy in at todays levels , always afraid that I will miss the boat , only good thing is that I have the dividend in cash in my ISA , just waiting for this share to drop to 7-8 p to buy some more .

Just to add a small thought , with a dividend representing such a large percentage of the share price , if you had to buy shares to meet the drip requirement , would you not have a breather to allow eveyone to sell , and let the price sink a little before rebuying . This is all guess work , but the volumes do seem low to me

Good morning Del , well done on the marathon , dont suppose we can ask the time taken . Not so sure drip is completed , as expecting about another 6-8 million shares traded today . My reasoning is that we have only had about 12 million in the drip program , maybe less , as yesterday their was a big sell over 8 million at the end of the day , and their would have been some typical trading say 1 million buys over the last 2 days ( Friday and Monday ) , with 17 thousand investors out there , Just feel , that although no idea over the size of holdings this represents less than 3 per cent of the dividend money available . A rough calculation would be that divi is 25 per cent of market cap , that equates to about 44 million pounds on shares that qualified , and twelve million on drip is 1.2 million pounds .

Hello Shatter , thank you for your answer , I believe we have something interesting here . I am not part of the drip , but have used drip for vodafone in the past . This is because until Del mentioned he used drip for FTO , I wasn't aware it was available for this share . The divi is such a large percentage of the share price , That I have seen esimates on other chat rooms of 150 million shares to be brought on drip . I believe this is very optimistic , my own guess and its only a guess , would be around the 30 million share mark . So from Friday to now , if all the shares brought have been drip ( which they are not ) and if we subtract the sales , this is around 10-11 million shares ,. I make that a lot more to go .

Cannot remember if I have asked this before , but is their a date that the drip must complete by . As I think their is still a fair number to transact .

Lower volumes than I would have thought , interesting fes days ahead

Thank you Del , well today is the start of an interesting week for us FTO'ers , I guess we will all be looking at the volumes traded over the next few days . Good luck everyone . Not expecting miracles , but would like to see some solid support at the 10p level , just as we have enjoyed at the 7p level in years past .

Thank you for the recommendation Del , just noticed your CGG ups stake mail . CGG is the 50/50 joint venture with FTO ( is that correct ) and as such I take it 15 million of the CGH shares acquired are FTO assets . Is their any chance , when you get some time , that you could put together one of your mails that states who holds what in FTO , and what percentage of shares FTO holds of CGH in their own right . Not a simple task I know as so much has changed , But I for one find them informative and helpful , and I am sure other people who look at this forum feel the same .

Good afternoon Nautalis , if you are not signed up for drip (dividend reinvestment plan ) ( your comments suggest you are not , as you state you get your divi's through the post ) . Then in the next few days you will get a cheque and a tax credit slip . The tax credit slip is for you to reclaim tax if your income does not exceed your personal tax allowance . Your second point is harder to answer , as I can only offer opinion , and this is based on feeling and not backed up with fact . ( The problems we all have owning shares ) . Things always change , but currently if their had been plans to take FTO into private ownership , I think it would have been done by now . We recently had a resolution passed to enable interested partys to acquire more shares without making a formal takeover bid . To me that would indicate that a takeover bid is not on the cards . Therefore I don't believe it would be worth speculating on a price , as if I am wrong and this does happen , I promise you that I would be wide of the mark in either direction . To me this seems a healthy company with room to grow in a country where polution is not to something the green lobby just talk about , but is killing people in their tens of thousands . And as such Chine needs to move to cleaner fuels , we are positioned and will soon acquire more shares in CGH ( I believe ) in what will be an energy revolution . Their is always a down side , and for this share I believe it is the uncertainity of government direction and that their seems to be not enough demand for FTO , although hoping this is going to change . I will offer one point which I have not posted before . We have just had a 300 million loan facility taken out on what anyone would consider good terms and cleared our existing debt , and as some people descibe now hold a war chest with maybe futher acquisitions on the horizon . I am not so sure , as I believe that if we get a positive decision on Moaming , then this requires massive investment to expand . Maybe thats why we have increased our borrowing . Hope this has answer your questions to some degree . Good luck

I think both of you have good points , like yourself Chris , I will be taking the cash as it is significant for me , and share rich cash poor , and in an ISA . I guess a lot of this depends on what Daniel Chieu does , if he does take the shares this is a game changer if not then business as usual . I would like to think that news on Moaming is on the horizon , and if the concert group have any idea of the outcome , that this could influrence wherever now is the time to plough in .

I have some thoughts on the up and coming drip program that starts tomorrow . Their is some intresting discussion on interactive investor , where people are speculating on the number of shares required to meet the drip , basically it equates to how many shares will be required to meet the drip , because of the size of the dividend . Their is speculation that this could be a large amount , however a thought that has occured to me , is what is to stop the spread widening and thus the drip program is brought high to reduce the number of shares required , and the sell price is kept high enough to get people a small profit ,and hence complete the supply side of the equation. I feel this drip program could take some time to complete , are their any time limits on drip ?

I thought we had associate status before the transfer of the gas business to CGH , and we lost it as our core business was under a certain percentage , Is it something else that I am thinking of .

I had forgotten how much damage was done to the share price , through the loss of our associate status , do you think their may be a chance of regaining it in the near future , as I agree this is a biggy , as makes us much more desirable for the pension and investment funds , should we ever appear on their radar