News Release

21 June 2007

ARGENT ENERGY WELCOMES GOVERNMENT’S SUSTAINABILITY CONSULTATION FOR BIOFUELS.

Argent Energy, the UK’s first large scale producer of biodiesel, has welcomed today’s publication of the consultation paper for the environmental and sustainability criteria to be used in implementing the Renewal Transport Fuel Obligation (“RTFO”), due to come into force next year.The announcement by the Secretary of State, Department for Transport, Douglas Alexander, makes clear the Government’s intention to reward biofuels under the RTFO from April 2011 only if the feedstocks from which they are produced meet appropriate sustainability standards.

Andy Hunter, Chief Executive of Argent Energy plc said: “We welcome the Minister’s announcement. The emphasis on carbon reporting and sustainability has to be the correct approach to establishing the credibility of biofuels for the UK consumer. This announcement is a significant and positive step forward for the UK biodiesel industry.

There are many raw materials from which biodiesel can be made. As highlighted in this consultation document, our use of tallow and used cooking oil, both essentially recycled waste products from other industries, means that the biodiesel we produce is highly sustainable with the lowest carbon footprint.”

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