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/

Starting to tick up now wilbs !

Its looking good but seen this before with BFC, it suddenly drops.

NUMIS BUY NOTE

Please see below for the Numis summary on their note today on BFC.


* Biofuels is in the final stage of constructing one of Europe> '> s
> largest
biodiesel refineries in northern England. When operational, the plant will convert raw vegetable oils into around 262,500 tonnes per annum of biodiesel, which is predominantly blended with mineral diesel to improve the latter> '> s environmental qualities.
> * Both UK and European governments see biofuels playing an integral
> role in
reducing CO2 levels and the dependence of the transport sector on fossil fuels.
Although Biofuels will depend on subsidies to survive in the near-term, we are confident that governments are working towards a long-term support structure for the industry.
> * Against this positive outlook, the company has performed poorly.
Construction delays, cost overruns and a flawed hedging arrangement triggered a sharp fall in the share price from 300p to 100p currently. In response, the management team has been strengthened, and the refinery is on track for full production from the end of Sept 2005.
> * There is considerable uncertainty over the near-term outlook. With
> just
three months to full production, only 30% of plant capacity has been sold, and there are fears that hedge payments and further construction delays could result in serious funding problems.
> * We believe that this negative backdrop is obscuring the underlying
opportunity, and are confident that management can sell the remaining output of the first plant. Our forecasts imply that one plant, at full output, can generate EPS of 43.7p, placing the company on a PER of 2.3x. A DCF analysis on one plant, with conservative assumptions, implies a target price of 180p and drives our Buy recommendation. However, we believe demand is likely to underpin the construction of a second plant, which would entail significant upgrades to forecasts and a re-rating of the shares.

Nice one marketmaker.
Pic updated at top.

That would be nice..

wouldn't the price target be heaps more @ 43.7p EPS ?????

wilbs i would have thought it would tick up this morning on the volume of buys,,any view ?

Not sure jimmy. The FTSE is up but my portfolio and watch lists are all very quiet today.

Same for me..

With 610K buys v 13.5K sells today, the only way is up!

Going well this morning,,are you still in wilbs ?

250 is coming IMO

LONDON (AFX) - Buyers again pursued Biofuels Corporation, 7-1/2 pence better at 120, amid talk that the company, which is building one of Europe's biggest biodiesel plants on Teeside, has found buyers for all of the plant's capacity.

More good news .

http://www.moneyam.com/action/news/showArticle?id=858909

Trying to post the web-link in linkable form - not working - any ideas?

"http://www.moneyam.com/action/news/showArticle?id=858909"

FYI MORE

LONDON, July 6 (Reuters) - U.S. President George W. Bush has urged increased investment in energy alternatives to reduce the world's dependence on oil and gas, helping curb global warming.

Washington has been focusing its efforts in alternative energy on biofuels that use sugar cane, vegetable oils or grain oils to produce green transport fuels ethanol and biodiesel.

Other options include expanding other renewable electricity generation sources and investing in technology to develop hydrogen-fuelled cars.

BIOFUELS FOR TRANSPORT

The United States is the second-largest biofuel producer after Brazil.

The Senate Energy Committee voted in April to require U.S. output of ethanol, distilled from corn and wood biomass materials, to reach at least 8 billion gallons a year by 2012, doubling the current output of the gasoline additive.

About 12 percent of the U.S. corn crop is projected to be used for ethanol in the coming year.

This g8 could be good news for BFC.. Wilbs where are you !!

Spanish Firm Repsol YPF to Produce Biodiesel in Argentina
Date Posted: 6/10/2005


BNamericas.com via NewsEdge Corporation : Spanish oil firm Repsol YPF is developing a plan to produce biodiesel in Argentina through the use of advanced technology, the company said in a statement.

Biodiesel is an alternative renewable fuel for diesel motors made primarily from vegetable oils. It is produced through a chemical process in which the vegetable oil reacts with alcohol in the presence of a catalyzing agent. Glycerin is produced as a by-product.

At the moment 98% of the world supply of biodiesel is produced in Europe, mainly in Germany.

However, the use of biofuel in the world market is growing and Repsol YPF realizes "the important opportunities" Argentina presents as a biofuel producing country. Brazil is also developing a program to produce biofuel for export.

Through its applied technology center (CTA) in Argentina, Repsol YPF is creating a new center for biofuel research as it defines its work plan, the statement said.

All good for BFC..

Looks like we have lift off, has the G8 news filtered through?