Purchase of Additional China Gas Shares

3 Feburary 2012

FORTUNE OIL PLC

("Fortune Oil" or the "Company")

Strategic investment - Joint Venture purchase of additional China Gas shares

Fortune Oil (LSE: FTO.L) focuses on oil, natural gas and resource supply operations and investments, primarily in China. Fortune Oil is listed on the Main Market of the London Stock Exchange.

Fortune Oil confirms that the Company has purchased, on behalf of its Joint Venture with Mr. LIU Minghui, 33,910,000 additional shares in China Gas Holdings Ltd ("CGH"; 0384.HK) since the announcement made on 20 January 2012, taking the overall Joint Venture holding in CGH to 385,034,000 shares, representing 8.78 per cent.of CGH's issued share capital. These shares have been acquired pursuant to the obligations under the Joint Venture agreement, as part of the Company's original contribution to the joint venture of HK$700m.

Fortune Oil is obliged under Hong Kong Takeover Code Rules to publicly file details of all dealings in the shares of China Gas Holdings Ltd on behalf of the Joint Venture by no later than start of business on the next dealing day. Copies of these filings are publicly available at

http://www.sfc.hk/sfcDealingDisclosure/EN/sfcDealingDisclosureServlet?ACT=CL 

Fortune Oil will announce in London the total amounts acquired weekly or where in a single day the current holding by the Joint Venture has materially changed.

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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 almost 20 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 recently started an expansion outside China securing resource projects. Fortune Oil is listed on the Main Market of the London Stock Exchange with its operational headquarters in Hong Kong.