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/

3.30 pm ,,i think..

thanx jimmy b confirmed by bio, egm 3.30pm to-day

EGM Statement

RNS Number:4497R
Biofuels Corporation PLC
19 September 2005


Biofuels Corporation plc
"Biofuels" or "the Company"


Extraordinary General Meeting


At the Extraordinary General Meeting held today, Field Walton, Chairman, gave
the following update on progress:

"Since the announcement of full-year results on 14 July 2005, the Company has
continued to make excellent progress in securing sales. To date, contracts,
including one awarded in recent weeks and which is subject to certain regulatory
and testing approvals, have been secured in respect of over 80% of start-up
production.

"We are particularly pleased with this recent award, from a blue-chip utility
and power generating company, since the power sector is a major potential new
market. We believe that this is the first use of biodiesel by this sector in
the UK, and that the power generating market could ultimately be at least as
large as the transport sector.

"We also have additional strong interest of more than four times the balance
remaining to match production, with a growing prospect list beyond.

"Construction of the Teesside plant, one of the largest in Europe, is virtually
complete. Given the strong levels of demand from blue-chip customers, the
Company is determined to minimise the risk of disruption from any potential
technical start-up issues. To ensure this, the Company engaged an external
commissioning company, Unasys*, to take on and implement commissioning of the
plant.

"Unasys has recently recommended a more extensive commissioning programme than
originally planned. The comprehensive recommendations have been accepted and
the programme is underway with commissioning and production taking place in Q4
2005.

"The Board believes that the Company's prospects remain strong. We have made
excellent progress on sales, the plant is virtually complete, we have commenced
an extensive commissioning programme and our lender is currently supportive with
discussions regarding funding now underway.

"The Board also believes that the business is well positioned to take advantage
of the ongoing level of high oil prices and support for renewable energy
products.

"Against this background, the Company continues to see strong and growing demand
for biodiesel, both in the UK and Continental European markets. The Company is
particularly well placed to serve major energy companies, whether established or
new to the biodiesel market, given its scale, operational flexibility and cost
competitiveness."

19 September 2005

Enquiries:

College Hill 020 7457 2020
Mark Garraway
Gareth David


There it is in case you havn't seen it looks good to me Frampton

It looks good to me too, and more important, the market seems to like.

Do we think the SP will continue north or is the rise today just an indication that the plant is not going to be delayed ??

I'm just suprised that there were so many sells after the news.

Your views are very appreciated.

Do we think the SP will continue north or is the rise today just an indication that the plant is not going to be delayed ??

I'm just suprised that there were so many sells after the news.

Your views are very appreciated.

I'm staggered by the rise - having been told once again there are delays to commencing production whilst commissioning by Unisys is undertaken. Although this may be wise in the long term to make haste slowly, the market usually reacts badly. The sales situation looks good. The reference to "support" from their bank carried a slight hint of warning drums to my oversensitive ear ("things are great, terrific, but the bank has agreed to continue supporting us"!).

I can opnly supose the news was better than the oversold market had prepared itself for.

Long make it last - onwards and upwards, I'm not complaining.

sd

I think the share price wil rise from here, but the RNS does seem to leave alot of unanswered questions. It looks to me like there is a small delay- they are saying commissioning the plant will take longer than expected, although they don't seem to a give a date for when start-up production begins. No news of a second plant yet... It will be interesting to see what the papers make of it tommorrow.
Re people selling, I guess if you bought a few in the low 140s earlier this week then you will have made a quick, small profit. Personally, I'm in for the longer term and hoping to see very large profits in a year or two.

Just seen your post Stock Dog, I agree basically it has risen on relief, as much worse news was expected.

having encouraged us to think the start up was on for end of Sept maybe they are being more careful on a definite start up date and have concentrated on good forward sales news! this is the main item to look for as we know there have been delays.

I think there is a long way to go with this stock, I am in it for the ride.

Agree with all the last posts ,and i'm neither excited or disappointed, we are still in for a small delay ,but i believe that was in the price this morning,onwards and upwards...JB.

Delay until Q4 (unspecified when) is really no big deal in the mid to long term. I just felt the EGM announcement was a little gratuitous in its avoidance of that detail, as if we would swallow it whole. Happy to see the SP rise up a little, happy to know that the business model still seems pretty sound, like the diversification into supplying a power company.

Agree with Jimmy - neither excited or disappointed, mildly relieved - still holding. Looking forward to breakingeven onthe rights issue at 230p.

It will be interesting to see what the SP does this week once the information has been digested, we could see further rises..

Not a holder - too risky for me, but there could be a lot of upside. Bit concerned about the phrase in recent EGM statment "our lender is currently supportive, with discussions regarding funding now underway". As worst case, a cynic could perhaps interpret this as meaning " our bank wants out, but realises that it is in so deep it must stay the course and has given us 3/6 months to refinance". The price of their "currently supportive" position is also likely to be high. Hope this is not the case, as banks also realise that major projects invariably take longer and cost more than originally budgetted. Will watch with interest.

The demand is so high that funding would be no problem IMO. The rest are all positive, better than expected.
This reminds me of Dragon oil (DGO) when it was around 40-45p and everyone was worried about funding. The company never said they have enough money nor they have serious problem .... They probably didn't think that's a problem to properly address.

The delay has obviously held back the price , but i'm prepared to be patient on this ,it has a great future.

If you are in business, you should know all their banking facility has conditions, they obviously got the overdraft on the assumption of full production by end of Sep, it's odd this time, they only say Q4, not even a deadline, their 13m cash at bank in June could be less than 2 or 3 now, if the bank are not supportive, they could pull the plug, the management obviously fooled our shareholders using a PRed statement, even though, still a lot of alarming points, eg, delay again, funding talk, the price of this share is only based on hope, I'm out of it now, wont come back in for a while, please be careful with your money, BFCers!

mayiguo " the price of this share is based on hope" ,

They have the largest Bio plant in Europe,, built,, and nearly ready to produce ,i think your going a little over the top.

I agree with mayiguo. i'm also out for the time being. Too many uncertainties in the short term. But long term this could well be the next BP or Shell.