31 Jan 2011 09:30
31 January 2011
FORTUNE OIL PLC
("Fortune Oil" or the "Company")
Fortune Oil Financing Update
The Board of Fortune Oil Plc ("the Company") note recent press speculation regarding a new loan facility for the Company. The Board can confirm that negotiations are taking place for a new loan facility to finance future expansion but final terms have not been agreed. A further announcement will be made if and when the Company has agreed the final amount and terms of such loan facility.
Background on Fortune Oil
Fortune Oil is a leading independent energy company engaged in the investment and operations of oil and natural gas supply projects in China. With over 17 years of operating history in China, Fortune Oil has acquired a unique portfolio of high quality oil and natural gas projects across the country and has formed a strong partnership with domestic and international market leaders. Fortune Oil is listed on the Main Market in London with its operational headquarters in Hong Kong.
For further details:
Fortune Oil PLC Tee Kiam Poon Premal Shah |
Tel: 00 852 2583 3125 Tel: 00 852 2583 3120
|
Pelham Bell Pottinger Archie Berens / Zoe Sanders |
Tel: 020 7861 3112 |