Announcement today from BEI (half owner of NFAL which runs the...

Announcement today from BEI (half owner of NFAL which runs the Darwin plant) regarding their presentation.

Announcement states reason for weakness is due to "Adverse commodity price movements and delayed commissioning of NFAL have affected sentiment and share price".

Rest of announcement relating to NFAL is as follows:

"Agreements• NFAL entered into terminal/ logistics management agreement with VOPAK to handle wharf and pipe feedstock to the refinery, and to provide bulk storage• NFAL has entered into put options for 50% of its output Singapore Gas Oil 0.05% from April 07 – March 08 at US $75 / barrelDistributionBlending and distribution of final product has commenced with deliveries to NT distributor and shipment to NSW distributor underwayGovernment PolicyGovernment legislated Clean Fuels Act in 2004 which provides a grant of A$0.38c per litre until 2011, reducing by 50% by 2015Key Drivers• Current production levels of biodiesel in Australia are low, and diesel represents 1/3 of all fuel consumption in Australia• Environmental imperatives – biodiesel is a clean burning fuelKey Price Metrics10T of palm oil + 1T of methanol produces 10T biodiesel + 1T glycerineNotes• The commisioning of the plant is expected to be completed in the near future"

Separate to this announcement, just heard that Malaysian Palm Oil prices are still at record highs.