X0202 4 2006-11-21 0000778164 Pacific Ethanol, Inc. PEIX 0001321936 Jones William L 5711 N. WEST AVENUE FRESNO, CA 93711 1 0 0 0 Common Stock 2006-11-21 4 S 0 1480 18.75 D 1661605 D Common Stock 2006-11-21 4 S 0 300 18.76 D 1661305 D Common Stock 2006-11-21 4 S 0 5 18.77 D 1661300 D Common Stock 2006-11-21 4 S 0 100 18.84 D 1661200 D Common Stock 2006-11-21 4 S 0 5000 19.00 D 1656200 D Common Stock 2006-11-21 4 S 0 4548 19.25 D 1651652 D Common Stock 2006-11-21 4 S 0 1400 19.26 D 1650252 D Common Stock 2006-11-21 4 S 0 200 19.27 D 1650052 D Common Stock 2006-11-21 4 S 0 200 19.28 D 1649852 D Common Stock 2006-11-21 4 S 0 200 19.29 D 1649652 D Common Stock 2006-11-21 4 S 0 300 19.30 D 1649352 D Common Stock 2006-11-21 4 S 0 600 19.31 D 1648752 D Common Stock 2006-11-21 4 S 0 300 19.34 D 1648452 D Common Stock 2006-11-21 4 S 0 1500 19.35 D 1646952 D Common Stock 2006-11-21 4 S 0 552 19.36 D 1646400 D Common Stock 2006-11-21 4 S 0 200 19.43 D 1646200 D This is Part 2 of 2. There were more than 30 transactions to report. /s/ William L. Jones 2006-11-22