X0202 4 2006-04-25 0000778164 Pacific Ethanol, Inc. PEIX 0001320387 GREINKE FRANK P 5711 N. WEST AVENUE FRESNO, CA 93711 1 0 0 0 Common Stock 2006-04-25 4 S 0 7500 34.00 D 192500 D Common Stock 2006-04-25 4 S 0 5000 34.05 D 187500 D Common Stock 2006-04-25 4 S 0 5000 34.10 D 182500 D Common Stock 2006-04-25 4 S 0 1049 34.15 D 181451 D Common Stock 2006-04-25 4 S 0 788 34.17 D 180663 D Common Stock 2006-04-25 4 S 0 463 34.19 D 180200 D Common Stock 2006-04-25 4 S 0 7641 34.20 D 172559 D Common Stock 2006-04-25 4 S 0 954 34.21 D 171605 D Common Stock 2006-04-25 4 S 0 300 34.22 D 171305 D Common Stock 2006-04-25 4 S 0 5450 34.25 D 165855 D Common Stock 2006-04-25 4 S 0 500 34.27 D 165355 D Common Stock 2006-04-25 4 S 0 750 34.28 D 164605 D Common Stock 2006-04-25 4 S 0 300 34.29 D 164305 D Common Stock 2006-04-25 4 S 0 4000 34.30 D 160305 D Common Stock 2006-04-25 4 S 0 100 34.31 D 160205 D Common Stock 2006-04-25 4 S 0 300 34.32 D 159905 D Common Stock 2006-04-25 4 S 0 100 34.33 D 159805 D Common Stock 2006-04-25 4 S 0 4976 34.35 D 154829 D Common Stock 2006-04-25 4 S 0 24 34.36 D 154805 D Common Stock 2006-04-25 4 S 0 805 34.40 D 154000 D Common Stock 2006-04-25 4 S 0 1300 34.41 D 152700 D Common Stock 2006-04-25 4 S 0 200 34.42 D 152500 D Common Stock 2006-04-25 4 S 0 2500 34.45 D 150000 D Common Stock 2006-04-25 4 S 0 200 34.47 D 149800 D Common Stock 2006-04-25 4 S 0 11060 34.50 D 138740 D Common Stock 2006-04-25 4 S 0 1300 34.53 D 137440 D Common Stock 2006-04-25 4 S 0 7600 34.55 D 129840 D Common Stock 2006-04-25 4 S 0 510 34.58 D 129330 D Common Stock 2006-04-25 4 S 0 25 34.59 D 129305 D This is Part 1 of 2. There are more than 30 transactions to report. /s/ Frank P. Greinke 2006-04-27