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/

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.

Biofuels shareholders approve increase in co's borrowing limits at EGM
AFX


LONDON (AFX) - Biofuels Corp PLC said a resolution to increase its borrowing limits was approved at an extraordinary general meeting today.





newsdesk@afxnews.com

jc
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More borrowing and so i hear no fixed date for completion, at the EGM they still would'nt commit to a date ..I bet your glad you got out as well Frampton , i wouldn't be surprided to see this dive now.

I legged it out at 95p, left it a bit late.... but hey, better out than in now, its dropping like a stone, and I see not reason for it to stop dropping for the time being.

Very glad to be out of this Jimmy. I sold once the bidder turned out to be DOO because it seemed it would only go down if no other bidder emerged. I am amazed its still as high as it is, in two months time the share holders could well be left with nothing - who wants to take that risk? Even if you were mad enough to want to buy in, why buy now? - I can't see anything making the price rise in the next two months (unless they complete ahead of schedule - no chance judging by past preformance) and I can see alot of reason for it going down.
I still find myself watching it obsessively though - it's like a drug I can't leave alone! However, I don't think I would be in a hurry to buy in even if they manage to pull it off - they still have an enormous amount of debt to sort out.

simon, I left it a bit late as well, because I wasn't around on the day they returned from suspension, I consider myself very lucky that I got 97-107p for them. I'm amazed they didn't tank right from the start.

There it goes now ,lost 8.5p again ,i can't believe people are still buying in this morning. I'm the same ,still watdhing with interest , there is a cure for this addiction ,you have to phone someone called a broker and buy something called a safe stock,then after about 6 months ,you feel a lot better and are able to get on with your life,,never to take huge risks and get shafted again.

LOL jimmy! Know any "safe" stocks then?! Maybe I should stick to FTSE 100 before I gamble it all away....