announcement

Dear Sir/Madam,
Australian Renewable Fuels Completes $16M Capital Raising for Second Biodiesel Plant
The directors of Amadeus Energy Limited (ASX: AMU) are pleased to announce that, subject
to finalising documentation, its 67% owned subsidiary Australian Renewable Fuels Limited
(ARF) has completed a capital raising of $16m through a placement of non interest bearing
Convertible Notes (that will mandatorily convert into ordinary shares at IPO) to institutional
and sophisticated clients of SHAW Stockbroking Limited to fund the further growth of its
biodiesel business.
The funds will be directed to establishing ARF’s second biodiesel plant at Picton (near
Bunbury), Western Australia with production due to commence in March 2006.
Construction of ARF’s first biodiesel plant located at Largs Bay, Adelaide has already begun,
with production due to start in November 2005. Combined production of the two facilities is
projected to be approximately 90 million litres of biodiesel in a full year.
The development of ARF and the Australian biofuels industry has been a long-term vision for
the Company’s founders and directors for many years. ARF’s business model recently
received strong endorsement from the Federal Government with the awarding of a $7.15m
grant under the Commonwealth’s Biofuels Capital Infrastructure Grant Scheme for the
Adelaide plant.
The ARF plants are based on proven technology supplied under licence by Energea (an
Austrian based company).
ARF plans to selectively roll out additional plants in line with the continued growth in the
biodiesel market in Australia.
ARF also intends to list its shares on the ASX in the first quarter of 2005 and has appointed
Shaw Corporate Finance (“Shaw”) to underwrite the issue. It is expected that ARF will issue a
prospectus to raise approximately $15m at IPO with part of the offer proceeds being used to
replace a finance facility of $6.5m provided by AMU. The prospectus for the offer will be
made available when the shares are offered. Anyone who wants to acquire shares under the
offer will need to complete the application form that will be in or will accompany the
prospectus. The expected market capitalisation of ARF at IPO is $105m, resulting in AMU’s
holding being diluted to approximately 34% after the completion of the IPO.
Further details regarding the public offering will be released shortly including a detailed
timetable and issue structure.
Yours faithfully,
CAROLINE L BENTLEY
Company Secretary / Executive Director