X0202 4 2005-03-23 0000778164 Pacific Ethanol, Inc. PEIX 0001320697 KOEHLER NEIL M 5711 N. WEST AVENUE FRESNO CA 93711 1 1 1 0 CEO, President Common Stock 2005-03-23 4 J 0 3875000 A 3875000 D Common Stock 2005-03-23 4 J 0 300000 A 4175000 D Common Stock 2005-03-23 4 J 0 13889 A 4188889 D Reporting person received 3,875,000 shares of common stock of Pacific Ethanol, Inc., a Delaware corporation, in exchange for his 100% membership interest in Kinergy Marketing, LLC, an Oregon limited liability company, pursuant to a share exchange transaction which closed on March 23, 2005. Reporting person received 300,000 shares of common stock in Pacific Ethanol, Inc., a Delaware corporation, in exchange for his 300,000 shares of common stock in Pacific Ethanol, Inc., a California corporation, pursuant to a share exchange transaction which closed on March 23, 2005. Reporting person received 13,889 shares in Pacific Ethanol, Inc., a Delaware corporation, in exchange for his 33-1/3 % interest in Kinergy Resources, LLC, an Oregon limited liability company, which held a 33-1/3% interest in ReEnergy, LLC, a California limited liability company, pursuant to a share exchange transaction which closed on March 23, 2005. /s/ Neil M. Koehler 2005-03-23