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/

Biofuels Corporation PLC
13 March 2007



Biofuels Corporation plc
(the 'Company')


Trading Update and Financing


Current Trading


In December 2006, the Company confirmed that trading conditions had recently
been impacted by a combination of lower mineral oil prices and increased input
costs, specifically vegetable oils and methanol. The decision was taken to
limit production levels by only taking on contracts that provided acceptable
margins or, in the absence of such contracts, to focus on reprocessing
intermediate product and sales of refined glycerine.


Current market conditions and the immediate outlook have not improved.
Consequently, biodiesel production levels, which have been intentionally
restricted allowing intermediate product to be reprocessed, were in January and
February running at 25% of plant nameplate capacity and will remain low for the
immediate future. This, together with increased manufacturing costs, arising
from a number of previously advised technical issues, will lead to the results
for the year to 31 March 2007 being materially worse than market expectations.


The technical issues referred to above are being addressed through a clearly
defined remedial engineering programme focussed on the intermediate product
reprocessing unit for which the Board has agreed further capital expenditure of
1.5 million. Contingency has been provided in financing plans over the next 12
months for an additional 1 million to cover possible technical enhancements.
The Company has initiated a claim against its previous technology provider,
Energea, for plant design failures.



In the lead-up to the introduction of Renewable Transport Fuel Obligation (RTFO)
mandation in April 2008, the Company believes that margins should recover from
the current unsustainable levels and that the Company, with a proven and
on-stream plant, will be well placed to take advantage of such a recovery. The
company believes that the current weak market conditions, which are affecting
the biodiesel sector as a whole, could restrict industry capacity and supply on
the introduction of the RTFO.


Financing


The Company also announced in December that its on-demand banking facilities had
been rolled over to 30 June 2007.


As previously advised, whilst the Company remains within its on-demand debt
facilities, it will require additional funding from the beginning of April 2007.
The Company had said that this was expected to be not less than 10 million to
31 December 2007. Against the backcloth of a weaker market, additional
remediation costs and a lack of clarity on the timing and extent of any market
recovery, the Company now expects this funding requirement to be between 16
million and 25 million.


The Board is advancing discussions with the Company's bankers, who remain
supportive, regarding short term cash requirements and continues to thoroughly
investigate a range of options to restructure the current debt in order to
secure the Company's longer term future.

Nice one cynic!!!!

Hohoho...BFC is going down the drain.

it was something of a no-brainer, to use today's parlance ...... got scred to death a few weeks back when the shares suddenly rocketed, but fortunately hung on though without increasing my relatively modest holding ....... certainly not complaining though

BFC will go to 5p...I think

i think BFC may go, full stop

Cynic, didn't I told u to keep shorting from 30p a few weeks ago?

i already had my holding by that time (since early Dec) ...... it's about 50% of my norm which i felt was sufficient exposure as it was or even is never impossible that some idiot white knight will gallop onto the scene

This is a disasterous investment from any angle...golly glad I didn't invest at IPO-levels where the future was bright.....yet if there was a great future then the Oilco's would be building plant, not some aim-listed "newby" with little or no previous diesel- experience.

Just goes to show, when something doesn't look right, it usually isn't.

I'm not convinced Biodiesel is dead, but I understood G.Brown had become a tad nit-picky with the VAT/Excise and this made a substantial difference for consumers.
Anyone know this plant...work near and have the inside griff on production woes? It is "almost" unbelievable the plant we see at the start of this thread has been cobbled together by amateurs - - - - so what went wrong? AND, more importantly, why didn't the execs fix it earlier?

not if you're short it ain't!

must start spread betting, this has been on the cards for a long time..especially if the market turns bearish.

Hey, BFC is one of the top winners today...every goat has its day!

of course .... merely a reflection of some short postions being closed to realise cash .... not by me!

Ohhh...you are greedy, cynic.

in this instance, i think merely realistic .... i can see no way of this company surviving, but you keep buying if you disagree

sp is once again tracking its way back to its proper position in life ...... bottom of the dung heap!

hohohoho...serve them right for being so stupid, those directors of BFC.

is it my imagination but are the institutions now bailing out? ...... did i read correctly that Barclays, who are their bankers have now reduced their holding only a short time before BFC need to renew their funding?

Nooo....Barclays has increased their holding to 12%.

The shares are oversold and short term have been rising with volume