X0202 4 2007-07-09 0000778164 Pacific Ethanol, Inc. PEIX 0001321936 Jones William L 5711 N. WEST AVENUE FRESNO CA 93711 1 0 0 0 Common Stock 2007-07-09 4 S 0 41504 15.00 D 1369696 D Common Stock 2007-07-09 4 S 0 19 15.0099 D 1369677 D Common Stock 2007-07-09 4 S 0 2094 15.01 D 1367583 D Common Stock 2007-07-09 4 S 0 753 15.02 D 1366830 D Common Stock 2007-07-09 4 S 0 1630 15.03 D 1365200 D Common Stock 2007-07-09 4 S 0 400 15.05 D 1364800 D Common Stock 2007-07-09 4 S 0 2700 15.06 D 1362100 D Common Stock 2007-07-09 4 S 0 100 15.07 D 1362000 D Common Stock 2007-07-09 4 S 0 800 15.08 D 1361200 D The sale transactions covered by this Form 4 were made pursuant to a Rule 10b5-1 sales plan dated May 16, 2007. /s/ William L. Jones 2007-07-09