HUGE PROSPECT ON D1 OILS

D1 was originally established in 2002 to focus on the development of a portable refinery technology to produce biodiesel for the UK transport industry. During this period, it was concluded that the high cost of rape seed oil, the main feedstock for biodiesel production in Europe, renders its use commercially unattractive. As a result, D1 explored the economics, suitability and yields of a variety of specific energy crops. During 2003, jatropha curcas was identified as its feedstock of choice and the focus turned to securing output from jatropha plantations.

Jatropha was selected as D1's primary energy crop due to it's high productivity, durability and longevity. Jatropha trees can be grown on marginalised land and are durable to the elements. Furthermore, jatropha can grow in areas of minimal rainfall, although it grows better in areas of higher annual rainfall. Jatropha trees produce nuts, which contain oil, for an average of thirty years and generally have their first harvest within two years of planting. Biodiesel refined from jatropha oil complies with EN 14214, the current European standard for biodiesel. Biodiesel meeting EN 14121 specification is an approved blend when mixed with petroleum diesel.

D1 is now commercialising its D1 20 refinery able to produce eight million litres of biodiesel per annum and will utilise jatropha oil as its main feedstock. D1 believes it can maintain low production costs and produce consistent, high volume quality output through sourcing existing feedstock supplies, cultivating new yields of jatropha on existing plantations and setting up D1 20 refineries regionally. D1 is working with highly regarded agronomy and biotechnology research and development facilities in India and South East Asia and is participating in the establishment of nurseries in a variety of locations in the Asia Pacific region. These nurseries will test imported jatropha seeds against indigenous varieties to determine which will grow best under a region's climatic conditions. In addition, D1 has recently acquired the rights to a proprietary growing media which targets the specific nutritional requirements of jatropha.

The global market demand for biodiesel is growing. International energy and environmental policies have helped to create a demand for biodiesel which is estimated to reach at least 10.5 billion litres by 2010 in the European Union alone. Based on current capacity, feedstock availability and positioning in the market, the global production of biodiesel is expected to reach approximately
3 billion litres by 2010, less than one third of the projected demand in the European Union.

D1 Oils aims to become a global, sustainable, low cost producer of biodiesel and supplier of crude vegetable oil used in the production of biodiesel. To reach this objective, D1 will manage its operations regionally, securing plantation rights and establishing refinery operations in each region, thus controlling aspects of the supply chain from seed selection through to the sale of biodiesel to end customers.

To this end, D1 has established four regional operations:
UK (Teesside and London) South Africa (Johannesburg) Asia Pacific (Manila, the Philippines) and India (New Delhi).

Looks like the end of the road Watkin at his last declaration held only 4% of the shares UBS has been reducing their holding and BP dont seem interested.
Another triumph for EK!!

Lol...whatever.......

another rns under merger/takeover rules...hmmmmm....;O)

could be worth a punt at these prices but If they proceed or suceed with a placing then imo it would effectively stop Watkin making a bid.
Long term, if the co. survives the sp could be considerably higher but in the current climate there are safer investments elsewhere. Also agree that D1 has been historically targeted by shorters, days when the SP would open up 26p and end it down 30p. Surely there should be measures to stop this? Anyway, best of luck to holders.-

D1 Oils Plc
09 April 2008

Part 1

D1 Oils plc

Preliminary Results for the Year Ended 31 December 2007

D1 Oils plc, the UK-based global producer of biodiesel, today announces its
preliminary results for the year ended 31 December 2007.

Key Highlights

Successful placing to raise 14.9m net of expenses, subject to
shareholder approval

Strategic re-positioning of D1Oils;
Ongoing focus on plant science and planting
Withdrawal from refining and trading


Operational highlights for 2007

Established global planting joint venture with BP to create a world-leading
business in jatropha

Plant science operations to develop high-yielding varieties of jatropha
progressing well

Commercial breeding and product placement trials commenced

Multiplication of higher-yielding E1 seed underway


Financials

Gross cash at 31 December 2007 was 14.3m

Loss for the year was 46.1m (2006: 12.6m)

That is a phenomenal loss for an AIM Company

what means withdrawing from refining and trading mean? Thought the whole idea of D1 Oil was to refine jatropha

what means withdrawing from refining and trading mean? Thought the whole idea of D1 Oil was to refine jatropha

what means withdrawing from refining and trading mean? Thought the whole idea of D1 Oil was to refine jatropha

this is a dead duck

Their Refining operations are no longer profitable so they've stopped doing it. Now just concentration on creating supply of Jathropa.

gd potts if that is the case then i am with cynic

Placing at 25p...this shows DOO will moves downwards now....


D1 Oils completes share placing, exits UK refining business UPDATE - AFX
(Adds CEO comments from interview)

LONDON (Thomson Financial) - D1 Oils Plc., the UK-based biodiesel producer, said it raised 14.9 million pounds net of expenses from a share placing and decided to withdraw from its UK refining and trading business because of fierce competition with heavily subsidised U.S. biodiesel imports, a move that led to widening losses in 2007.

The placing involved 64.4 million new shares priced at 25 pence each, a 34 percent discount to the April 8 closing price of the company's shares of 37.75 pence, it said.

'We are particularly pleased that the placing is being supported by our leading shareholders who together represent approximately 60 percent of the shareholder base,' said chief executive Elliott Mannis.

Proceeds from the placing, which will be subject to a shareholder vote at an EGM on May 9, will support the company's 'revised' growth strategy which focuses on its plant science and planting business. D1 plants jatropha which produces oil feedstock for biodiesel.

D1 said it has decided to withdraw from the UK refining and trading business because of high feedstock prices and the influx of heavily subsidised U.S. biodiesel imports.

'We believe that UK (biodiesel) demand will largely be met by subsidised U.S. imports. We do not see the UK as offering a viable location for refining and trading to meet domestic demand for the foreseeable future,' it said.

'As a result of a thorough review of operations in this area, the board's view is that refining and trading no longer represent the best use of shareholders' funds. We therefore intend to withdraw from this business segment,' it added.

D1 said it is considering either to close down or sell its Middlesbrough and Bromborough sites where it employs around 80 staff.

It booked asset impairment charges of 22.8 million pounds for the two UK plants in 2007, leading to a pretax loss of 46.1 million pounds, against a loss of 12.6 million pounds previously. D1 had net cash of 7.8 million pounds at end-2007.

Mannis told Thomson Financial News in a phone interview the latest fundraising will 'keep the company cashflow positive through the end of 2009'.

The fresh cash will also fund the group's contribution to its joint venture with UK oil group BP Plc., he added.

Last year, D1 and BP teamed up for a $160 million biodiesel project that uses jatropha as a feedstock. The joint venture, called D1-BP Fuel Crops Ltd., intends to plant 1 million hectares of jatropha in its first four years.

Mannis said the D1-BP project is on course to start production towards the end of the year.

Initial volumes will be 'modest' then ramp up over the coming years, Mannis said, adding jatropha has a pricing advantage over other biofuel source such as rapeseed and soya.

Jatropha could potentially fetch around $575 to $625 a tonne, below the prevailing prices for rapeseed and soya of over $1,600 a tonne, he said.

At 11:03 a.m., D1 Oil shares were up less than 1 percent at 37-1/2 pence.


monicca.egoy@thomson.com

Karl Watkins said today he would not bid for DOO.

Not looking good, JV with BP all they have going for them. The fundraising was effectively to keep up their end of the deal

Look like DOO is doing a BFC...now 17p

Now doubled to 34p, why?

Because it was very oversold. Got in at 19p and sold last night.

22p now.

up a bit; down a bit ...... chart does not look very healthy to me .....