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/

Driver ,just to rub salt in to the wound ,if you'd been born with the name Bill Gates you would have 40 billion ,, you would'nt half be a geek though !!

and who says any bid will be over a 1 ? They'd be mad with all that debt overhanging the balance sheet, but there's nowt as queer as folk :)

I wouldn't be buying right now, but I don't mind if people keep pushing up the price, so I can cut and run!

jimmy
How do you know Im not Bill Gates.

From : http://uk.biz.yahoo.com/051205/214/fyjky.html

Monday December 5, 11:55 AM
Biofuels gets bid approach

LONDON (ShareCast) - Shares in Biofuels specialist shot up as the company said it had received a tentative bid approach.

"The board of Biofuels has received a tentative approach and can confirm that it is in very preliminary discussions which may or may not lead to an offer being made," it said in a statement.

Biofuels is building the UK's largest biodiesel plant, on Teesside, but said on Friday that commissioning of the facility was taking longer than expected.


For more breaking company and market news, visit the Digital Look News Channel

Wow, this a laugh a minutes.... I am just sitting tight.... I was in at 90p so I am still in profit....

Just pleased I didnt lose it all...

Took the cowardly approach! Out at 110p with a considerable loss but just pleased to get some capital back! Good luck to those still in ..

An observation (not a holder). It seems that any bidder would basically have only to keep Barclays happy and if they were to get their debt back on this you would hear the whoops of joy from Canary Wharf on the BFC site.Would not therefore expect any bidder to offer more than a few crumbs for unsecured creditors and rather less for ordinary shareholders. We shall see.

Evil's latest

I see that Biofuels (BFC) is back from suspension and that Barclays has promised to lend it stacks of cash albeit at LIBOR + 7% until its plant is finally built. This is really very expensive debt -it would be almost as expensive to borrow on a credit card. The company will be drowning in borrowings and at some stage it really must issue fresh equity. I see that the shares are being driven higher in relief which is sheer lunacy. I see that an early stage bid approach has been made. I doubt that it will come to much as an acquirer is buying a pig in a poke (until Biofuels can deliver at an operational level) and a piggy with an awful lot of borrowings to boot. I had marked down Biofuels as a sponsor of my Christmas cellar. But I stay short and suspect that this will be the sponsor of the Easter excess.

So DOO was thinking of a merger , i don't think they would have the cash to buy BFC .

Jimmy, apart from the semi-flippant answer that D1 Oils only needs to find 1 in total (isn't that the usual price one pays for a company up to its gunnels in debt?), isn't it more likely that there would be a huge equity restructuring diluting existing shareholders out of sight? How else will Barclays come out of this with its interests secure as far as it can?

Bones i can't believe the buys going through (some must be buys) ,this has to be going down over the next couple of months ,people over on the other bb are coming up with all these crazy take out prices ,,180 - 200p ,,i just can't see it,, and i'm sure i'm not missing the point..

Jimmy, whatever happens, I'm happy watching from the stands!

It's not doing much good for D1 's share price. As much as i'd love a take out at 180-200, I also can't see it. I think I might sell the lot soon, I can't take the stress of this share any longer!

Looks like DOO is making a mistake buying up BFC which is highly in debt.

I'm out now. DOO is never going to be able to afford much for BFC, if no other bidders emerge this is going down.

Might be just as well Frampton ,this is a real gamblers stock now,, IMO there is more downside than up here..

I agree its a gamblers stock Jimmy, and it doesn't look like the odds are stacked in the buyers favour. I'm just relieved to have got out with much smaller loss than I thought possible two weeks ago - although still quite substantial as I'd bought so many of these.

Was it only DOO?

I used to think you couldn't hold a worse share than Renewable Energy Holdings but guess what, I've found One. Biofuels. BFC's management seem to come out with a new revelation every day which makes the shares fall ever further and tomorrow they may as well say that they forgot to build the plant the way things are looking for the company and their shares.
I Think D1 Oils are a better bet than BFC and if anyone can tell me otherwise please post it becuase even a bid for Biofuels is 'Timid' or 'Tentative' as the worldclass Management at Biofuels call it,
Maybe some more of those hedging deals with Barclays are on the cards for Biofuels, the last one has worked out well;
I'll let the management decide that, I'm sure they'll do the right thing like they have done so many times recently.
Keep Up The Good Work.