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Business Developments

1 Feb 2007 07:01

Fortune Oil PLC01 February 2007 1 FEBRUARY 2007 FORTUNE OIL PLC ("Fortune Oil" or "the Company") Business Developments Fortune Oil is pleased to announce the following business developments: Natural Gas Supply Sales of natural gas continue to grow strongly and there have been no supplyinterruptions during the winter. Throughput at the Tongzhou CNG station iscurrently averaging 260,000 cubic metres per day compared to 180,000 cubicmetres per day one year ago. Approval was recently obtained from the Ministry of Commerce to establish Fortune Gas Investment Company Limited, a 100%-owned holding company to be registered in China. This holding company will help implement the Company's strategy of creating an integrated gas business. Bluesky Aviation Refuelling Joint Venture The Bluesky business continues to perform well and the government-mandatedcompensation mechanism remains in force, as expected. The rebate paid bydomestic airlines to Bluesky in the fourth quarter 2006 was RMB 320 (US$41) pertonne. The first quarter 2007 rebate is lower at RMB 140 (US$18) per tonne,reflecting the decrease in international jet fuel prices which are now closer todomestic jet fuel prices. Rebates in respect of periods prior to the second quarter 2006 are still under investigation by the government. Oil Products Supply In December 2006 the West Zhuhai Oil Products Terminal was granted a licence tostore bonded-status products. Discussions are now in progress with thirdparties to use the terminal for supplying gasoil to destinations such as HongKong and Macau. The new licence will also enhance the Company's own tradingoperations in China, which currently include the import of bitumen and base oiland the export of chemicals, primarily on a low-risk agency basis. The Company will provide further information when the preliminary results areannounced for the year ended 31 December 2006 in April 2007. Enquiries: Fortune Oil PLCJohn Pexton - Deputy Chief Executive Tel: 00 852 2583 3113 (Hong Kong) Pelham Public RelationsArchie Berens Tel: 020 7743 6679 or 07802 442 486 This information is provided by RNS The company news service from the London Stock Exchange
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Date   Source Headline
29th Jun 20124:05 pmRNSDirector's Shareholding
20th Jun 20125:21 pmRNSLTIP Announcement
19th Jun 20124:30 pmRNSResult of AGM
14th Jun 20129:45 amRNSLiulin Coal Bed Methane - Progress Update
1st Jun 201210:45 amRNSPurchase of Additional China Gas Shares
31st May 20124:30 pmRNSAnnual Information Update
18th May 20127:00 amRNSInterim Management Statement
11th May 20125:01 pmRNSPurchase of Shares by a Director
11th May 201211:20 amRNSNotice of Annual General Meeting
10th May 20123:15 pmRNSNotification of Transactions of Directors
8th May 20128:46 amRNSPurchase of Additional China Gas Shares
26th Apr 20124:30 pmRNS2011 Annual Report Published
26th Apr 20127:00 amRNSAnnual Financial Report
16th Apr 20127:00 amRNSLNG Import and Supply Agreement
13th Apr 201211:30 amRNSPurchase of Additional China Gas Shares
13th Apr 20127:00 amRNSArmenia Iron Ore Project Update
23rd Mar 201211:11 amRNSPurchase of Additional China Gas Shares
9th Mar 201211:19 amRNSPurchase of Additional China Gas Shares
24th Feb 20124:30 pmRNSPurchase of Additional China Gas Shares
17th Feb 20124:21 pmRNSPurchase of Additional China Gas Shares
17th Feb 20128:56 amRNSRe China Gas Holdings
3rd Feb 20123:19 pmRNSPurchase of Additional China Gas Shares
16th Jan 20122:55 pmRNSPurchase of Additional China Gas Shares
29th Dec 20116:28 pmRNSStrategic Investment
28th Dec 20113:45 pmRNSStrategic Investment
22nd Dec 20117:45 amRNSFurther Progress in Liulin Gas
19th Dec 20117:00 amRNSExpansion of Aviation Refuelling Business
16th Dec 20117:00 amRNSLiquefied Natural Gas Business Developments
18th Nov 20117:00 amRNSInterim Management Statement
2nd Nov 20114:41 pmRNSSecond Price Monitoring Extn
2nd Nov 20114:35 pmRNSPrice Monitoring Extension
1st Nov 20116:06 pmRNSHolding(s) in Company
24th Oct 20117:00 amRNSCo-founds Carbon Asset Investment Fund
7th Oct 20114:31 pmRNSHolding(s) in Company
30th Sep 20117:00 amRNSAppointment of Chief Financial Officer
26th Sep 20114:40 pmRNSSecond Price Monitoring Extn
26th Sep 20114:35 pmRNSPrice Monitoring Extension
21st Sep 201112:05 pmRNSDocument Availability
6th Sep 20114:40 pmRNSSecond Price Monitoring Extn
6th Sep 20114:35 pmRNSPrice Monitoring Extension
25th Aug 20117:00 amRNSHalf Yearly Report
22nd Aug 20117:00 amRNSAppointment of Project Director in Armenia
18th Aug 20114:40 pmRNSSecond Price Monitoring Extn
18th Aug 20114:35 pmRNSPrice Monitoring Extension
27th Jun 20112:54 pmRNSDirector/PDMR Shareholding - Replacement
24th Jun 20114:58 pmRNSDirector/PDMR Shareholding
23rd Jun 201110:06 amRNSHolding(s) in Company
20th Jun 20115:15 pmRNSLTIP Announcement
15th Jun 20114:30 pmRNSDirector/PDMR Shareholding
15th Jun 20111:56 pmRNSDirector/PDMR Shareholding
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