Statement re Orimulsion

Quadrise Fuels International PLC
05 October 2006



5 October 2006

                        Quadrise Fuels International plc
                         ('Quadrise' or 'the Company')

                           Statement re Orimulsion(R)

Quadrise Fuels International plc (AIM: QFI) has noted the recent statement made
by Venezuela's Ministry of Energy and Petroleum regarding the termination of the
use of Venezuela's extra-heavy crude to produce Orimulsion(R), the first
emulsified fuel available to worldwide markets, and the cessation of production
of Orimulsion(R) by the end of 2006 by Sinovensa, the joint venture business
between China National Petroleum Corporation and Petroleos de Venezuela SA
('PDVSA'). Full details can be recovered from the PDVSA web site www.pdvsa.com.

As previously anticipated, this development now leaves Quadrise as the only
potential provider of bulk quantity oil in water emulsion fuel through the
marketing and manufacture of MSAR(R) fuel in the exclusive territory in which it
operates under its licence agreement with Akzo Nobel. This territory covers all
countries excluding Canada, Mexico, the United States, Japan and the Peoples
Republic of China. In the United States, Quadrise operates through its associate
company Quadrise Fuels US LP, in which it has a 50% interest.

Commenting on this development, Bill Howe, Chief Executive Officer of Quadrise,
commented:

'Quadrise now has the added opportunity to actively engage with existing
Orimulsion(R) customers with a view to developing new production bases for 
MSAR(R) fuel. This opportunity arises at a time when we are actively progressing
agreements to source refinery residue feedstock in our chosen target markets
where high quantities of oil fired power generation capacity exist. Our current
studies suggest a strong synergy between oil refiners and power generators where
Quadrise can act as a sink for uncut, refinery vacuum residues.'

MSAR(R), a second generation emulsion fuel, has the following advantages over
Orimulsion(R):

• MSAR(R) is a more finely dispersed emulsion and achieves a superior carbon 
  burnout.
• MSAR(R) can be produced using feedstock from a variety of sources allowing 
  flexible multi-sourcing and on-site manufacture.
• MSAR(R) can be manufactured to customer specification (eg low sulphur).

For further information, please contact:

Quadrise Fuels International
Bill Howe
CEO
T: [phone]

Smith & Williamson Corporate Finance Limited
Azhic Basirov
[phone]

Parkgreen Communications
Simon Robinson /
Victoria Thomas
[phone]






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