SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TURNER RYAN W

(Last)

(First)

(Middle)

5711 N. WEST AVENUE

(Street)

FRESNO

93711

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [ PEIX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		former Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/20/2006		S		5,000	D	$28.8199	366,166	D
Common Stock	04/20/2006		S		5,000	D	$28.8629	361,166	D
Common Stock	04/20/2006		S		5,000	D	$28.9002	356,166	D
Common Stock	04/20/2006		S		5,000	D	$28.9055	351,166	D
Common Stock	04/20/2006		S		15,000	D	$28.9218	336,166	D
Common Stock	04/20/2006		S		5,000	D	$28.9474	331,166	D
Common Stock	04/20/2006		S		4,500	D	$28.9986	326,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0174	316,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0334	306,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0502	296,666	D
Common Stock	04/20/2006		S		5,000	D	$29.0531	291,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0599	281,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0765	271,666	D
Common Stock	04/20/2006		S		10,000	D	$29.083	261,666	D
Common Stock	04/20/2006		S		10,000	D	$29.0844	251,666	D
Common Stock	04/20/2006		S		2,500	D	$29.1177	249,166	D
Common Stock	04/20/2006		S		10,000	D	$29.1398	239,166	D
Common Stock	04/20/2006		S		10,000	D	$29.2471	229,166	D
Common Stock	04/20/2006		S		25,000	D	$29.2518	204,166	D
Common Stock	04/20/2006		S		15,000	D	$29.3152	189,166	D
Common Stock	04/20/2006		S		25,000	D	$29.3311	164,166	D
Common Stock								7,500	I	As custodian for son
Common Stock								7,500	I	As custodian for daughter

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

This is part 2 of 2. There were more than 30 transactions to report.

	/s/ Ryan W. Turner	04/21/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.