The main activity of Biofuels is the large scale production and exploitation of biodiesel and glycerine following the construction and commissioning of the initial plant.

Biodiesel is produced from vegetable oils and, as an environmentally friendly product, can make a significant contribution towards reducing green house gases and meeting Kyoto targets.



RNS's from BFC can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=bfc&go.x=17&go.y=8

http://www.biofuelscorp.com/

Topped up again today. Could be a little dangerous, since profit-takers could step in after this weeks rise, but I'm confident this is on a rising trend taking 6 month view. Projected PE is incedibly low.

rgrds
gk

I want to topup if the price does drop. BFC got a slight mention in shares mag last week and the fact that blair was rambling on about greenhouse gasses and global warming IMHO helped the price movement. If we dont get an update from the company soon I think the sp will fall slightly just like from the high of 200p to 140p.All IMHO though!!
wilbs

http://www.uk-smallcaps.com/BioFuels.html

Saw that last week. Conrad was in shares mag the other week on the trading profile page. He also posts some of his research reports on the other side under the name of mrkournikova.
wilbs

You may also be interested in D1 Oils (DOO) which is rapidly expanding its African, Indian and Chinese plantations of Jotropha bean trees from which it extracts biodiesel using local converters, thus helping local investment/industry/employment - classic case is paying vanilla farmers (who grow Jotropha trees as a prop for the vanilla vines to grow on anyway) to harvest otherwise unused J-beans. Also reduced transportation costs. All v. bio-good (remember the old WWI song "Good-bio, good-bio, wipe the oil, baby doil, from your eye-o")

DOO plan to plant millions of hectares worldwide (tropical wide actually) and are ahead of plans using local capital to boot in some cases, so enhancing shareholder value.

I took an each way punt on BFC and DOO the day the latter was listed on AIM at the end of October. It too has been showing a bit of action recently.

Big drop today, think we may see the 50's by the end of the week with no news. I will topup if it does.
wilbs

Seems to have come off the bottom today - looks like there is support. Can't see the 150's yet. Medium term, the chart looks good!

rgrds
gk

I topped up last time they were are the 150s so this time I will probably wait till they drop to below 140!

Tallsiii

Can't see them going that low Talsii, best to top up now!

(DYOR etc).

I have a policy of only buying when things are extrordinarily cheap Gallick! At the current price BFC are still cheap, but not cheap enough to fill my boots.

Biofuels Corporation PLC
01 February 2005



Project Update and Board Appointment



Biofuels Corporation plc (the Company), which is expected to become one of
Europe's largest producers of biodiesel, a vegetable oil based version of
diesel, announces:



An update on project progress and financing plans.
Appointment of Finance Director.



Project Progress



The Company is pleased to report that work continues to progress well towards
the successful completion of the initial biodiesel plant with a capacity of
250,000 tonnes per annum. Total project progress is now approximately two
thirds complete. Early commissioning work is targeted for April with the plant
operational in early Q3. In assessing the commissioning and start-up plans, and
consequent financial implications, the Company is planning on production levels
being built up from this point over the following period with full production
consistently achieved around the end of Q3.



Financing



As indicated at the time of the Interim results, the Company continues to
negotiate additional fixed and working capital facilities. In the meantime,
revised terms for the first tranche of the original financing agreement have
been agreed to progress the development of the plant. The further funding
requirements will cover additional fixed capital and higher working capital
needs. The Company has also unwound the initial 3-4 months of the commodity
hedge from the period starting April 2005 to account for projected start-up
plans. This will result in an additional cost and funding requirement of 4.9
million at present exchange rates with this requirement included in the
financing discussions with the company's bankers.



In addition, based on a recent full review of programme costs and schedule the
Company now considers it prudent to allow an additional 2 million of
contingency in capital cost forecasts.



Business Outlook



The future business prospects for the company are strongly underpinned by the
present market outlooks for vegetable oils, which form the Company's main raw
material inputs, and for ultra low sulphur diesel, which is the key benchmark
for setting output product prices. Forward prices for 2005/2006 are around
$340-360/tonne for Crude Palm Oil MDEX Malaysia, 510-540/tonne for Rapeseed
Oil and $390-400/tonne for Ultra Low Sulphur Diesel, compared with the prices
at the time of flotation of $435/tonnne for Palm Oil, 525/tonne for Rapeseed
Oil and $260/tonne for ULSD.



This price outlook ensures that the economic outlook for the initial plant as
well as for subsequent projects, is robust.



Appointment of Finance Director



In a move to further strengthen the Board and management to bring additional
expertise to Biofuels as the Company implements its development plans, Robert
Green has been appointed as Finance Director. Robert brings extensive
experience to the team having operated in a variety of senior financial roles.
John Charlton who joined the Board prior to flotation as Finance Director on a
part-time basis, will remain on the Board and will assist the hand-over.



Field Walton, Chairman said ' I am pleased to announce the addition of Robert
Green to the team. He brings a strong set of skills and experience to the Board
as the Company sets out on its growth plans. I would like to thank John Charlton
for the significant contribution that he has made to the Company particularly in
bringing the Company to the AIM market.'



Sean Sutcliffe, Chief Executive, added ' I am pleased to be able to report that
the project continues to progress well. Whilst the team's priority is to
ensure the successful construction and commercialisation of the initial plant,
it is increasingly apparent that the UK and international markets can provide a
number of attractive further opportunities. The price outlook for Palm Oil and
Ultra Low Sulphur Diesel remains positive, re-inforcing the medium term strength
of the company, although it has in the short term resulted in additional costs
under the hedge arrangements put in place around the time of flotation.'


wilbs

Wilbs - reference previous dalogue with lukan - look at SYM as a good green partner share to BFC and SEO.

I don't wish to worry anyone, but doesn't todays new look a bit like attempt to disguise a situation of missed deadlines and cost overrun?

>> tallsii

I think there is a bit of that, but at the same time construction seems to be on target, the board seems to be impressive (v. experienced), and although they lost out by hedging the forward prices, at least input costs will be lower. Sp is up slightly.

rgrds
gk

Spending the dosh to get out of the hedge is probably a bullish stance, since they must reckon the future spot price will more than compensate, and so do their bank, IMHO.

Hope you're both right as I have held onto most of my stock!

Does anyone know how many litres there are to a tonne of diesel?

For water, 1 litre is 1000 grammes which is 1 kg
There are 1000 Kg in a tonne
So - um, err, that makes 1000 litres of water to the tonne
But I guess bio-diesel floats on water making it lighter, therefore requiring slightly more volume per given mass, so a few more than 1000 litres per tonne.
Think that's right.

>> stockdog

Sounds like you are hot on these green issues! What's your perspective (ie how do you know about all this stuff) - if that is not too nosy?!

rgrds
gk

Biofuels brings new energy to team
By Ruth Sullivan
Published: February 2 2005 02:00 | Last updated: February 2 2005 02:00

Biofuels Corporation, which is building Europe's biggest biodiesel plant on Teesside, is strengthening its board and management by taking on Robert Green as finance director.


John Charlton, who joined the board as part-time finance director to work on the company's flotation on Aim, will remain on the board and help in the handover.

The appointment comes as the company is aiming to become one of Europe's largest producers of biodiesel, a version of diesel based on vegetable oil. It expects to complete the Teesside plant by July.

Sean Sutcliffe, chief executive, said: "The price outlook for palm oil and ultra-low sulphur diesel remains positive, re-enforcing the medium-term strength of the company, although it has in the short term resulted in additional costs under hedge arrangements put in place around the time of the flotation."

Mr Green, 49, was a former finance director at Wilson Connolly Holdings. Ruth Sullivan


http://news.ft.com/cms/s/bfb1b3d4-74c0-11d9-a769-00000e2511c8.html

wilbs