Yes an engineer but lets call it a TECH Engineer. Compressed air technology is its main business, develops industrial air compressors and Gas seals and whats more it provides them for the OIL and GAS industry.
Very close to commercialisation now with its compressors and seals and todays deal ( see below ) should bring that very close.

Charges upfront payments, continuing royalties and development contracts so revenues are not lumpy.

It as a market cap circa off the top of my head 20 million(hope my calculator is now working) and as circa of 5 million cash on the books, very nice.

Some very big names as customers.

Heres todays announcement...........

Corac Group Plc
26 May 2004


For Immediate Release 26 May 2004


Corac Group plc ('Corac')

Joint Industry Programme for Downhole Gas Compression

Corac, the intellectual property and licensing company specialising in
compressor technology, is pleased to announce the signature today of a Joint
Industry Programme ('JIP') for the development of its unique, patented downhole
gas compression technology.

Following the recent successful completion of a Shell funded feasibility study
which evaluated both the technical and economic viability of the technology,
considerable industry interest has been generated, culminating in the addition
of a further four major international oil and gas operators to the project.

The participants of the JIP comprise ConocoPhillips, ENI, Husky Energy,
Repsol-YPF as well as Shell, all of whom have gas assets worldwide which they
believe could benefit from this game changing technology. As well as covering
the development costs for the next phase, the participants will also make
substantial resource available to ensure the final product specification meets
the requirements of the industry.

Corac's downhole gas compression concept involves the coupling together of a
number of axial compressor modules in a single compression train for
installation in the well bore in close proximity to a gas reservoir. In this
location, a modest uplift in pressure results in a very significant increase in
gas production compared with conventional methods using surface compression,
thereby accelerating gas production and cash flow from a producing asset.
Potential production rate enhancement of up to 40% has been demonstrated through
the application of downhole gas compression during a number of gas field case
studies carried out over recent months.

Placing the compressor downhole could also have the effect of being able to
lower the reservoir abandonment pressure which in turn would materially increase
the ultimate recovery from a gas field, thereby further enhancing the economic
benefit from the installation of this novel application of existing technology.

Phase 1 of the JIP is scheduled for completion by the end of 2004, with further
engineering and development work leading to the manufacture and testing of a
prototype downhole in a producing gas well within the following two years.

Commenting on the JIP, Professor Gerry Musgrave, Chairman, said:

'The support from such eminent oil and gas companies vindicates Corac's
development to date of the downhole gas compression project and gives the Group
another product line to bring to the market using its core technologies. It is
the start of a major business development opportunity which is expected to have
significant international ramifications throughout the upstream natural gas
industry.'ENDS.

Although loss making at the moment it shouldnt be very long before this one turns the corner.

Outlook

The Company has a loyal, talented workforce dedicated to the innovation and
exploitation of the technology. Successful trials have demonstrated the
commercial performance in Corac's industrial air compressor and its seals. The
Board is striving to deliver the right manufacturing and sales licences which
will yield the best returns in the long term.

We are confident that a number of deals, which have been subject to recent
intensive negotiation, will be successfully concluded in the near term.

Short to medium term investment, and anyone interested should DYOR and please remember you are responsible for the timing of your buying and selling actions.

cheers GF.

halifax????
what you talking about??????
Corac have three oil/gas majors in tow, paying for all development and these will be the first users

Down hole conditions are harsh, testing must be extensive
Corac are, with their gas partners, now on the last lap of development, they have a prototype running in Cumbria, this prototype is subjected to extremes of pressure, temperature and particulates to try to simulate the down hole environment.

Testing is due to run all of this year, with the first live deployment slated for next year.
This is a development project that could bring untold wealth to all participants, its not a black or white thing. testing will continue for as long as is required, that must be the case.

Well I hope the testing period ultimately results in the three oil majors buying the product, perhaps when it is deployed in real conditions its value will be realised.

the three majors are lined up to buy-they ain't backing DGC for the last 4 years for nothing!
Numis report says they have identified an initial 170 wells or so, thats big bucks for CRA at tasty profit margins.
I think the share price will advance as CRA move through each stage.

Does one know how much a unit will sell at so that shareholders can get some idea of future sales potential?

yes, they sell for around 1m a go with gross margins of around 70%

add in refurbishment, every two or three years, and you get a nice re-occuring income stream.

estimates are that there is a total 100,000 gas wells globally (out of 500,000) that should be suitable for DGC
1% market penetration is roughly 1bn in sales!!!!...not to mention those re-occuring revenues

interim results coming up soon
hear there should be a lot of activity from CRA over the next few months
imo + dyor!

announced today, Cenkos are new brokers to CRA
gearing up for serious news-flow!

Moving up again, some big buys recently

institutional buying again

Corac Holding(s) in Company


RNS Number:9171E
Corac Group Plc
01 October 2007

1 October 2007





Corac Group plc ("the Company")



The Company has been informed on 1 October 2007 that, as at 27 September 2007,
Gartmore Investment Limited now holds an interest in 8,564,877 ordinary shares
of 10p each in the Company. This holding represents approximately 11.448% of
the voting rights of the Company's issued share capital.



For further information:



Corac Group plc

Gerry Musgrave, Executive Chairman (01895 813463)



Cenkos Securities plc

Simon Southwood (020 7397 8923)

Corac looks like it is winding up again for a break-out >50p

L2 pushing up again, just one MM left on 50p now (SCAP)

after a very slight dip back, CRA is yet once again knocking on the 50p door
this time?

100k buy reported.

inching up again

breakout!!!!!!!!!!!!!!!!!!!!!!!on the back of strong news and an endorsement bythree multi billion pound companies

RNS Number:9086F
Corac Group Plc
18 October 2007




For Immediate Release 18 October 2007



CORAC GROUP PLC
Downhole Gas Flow Loop Update


Corac Group plc, the intellectual property, engineering and licensing company
specialising in compressor technology, provides a progress update for the
development and operation of its unique downhole gas compressor. Comprehensive
flow loop testing recently witnessed by the Company's JIP partners, Conoco
Phillips (UK) Ltd, Eni SpA and Repsol YPF has produced positive results.

Testing started in January 2007 with the commissioning of the rig in Spadeadam,
Cumbria, to simulate as near downhole conditions as possible where gas is
circulated at various controlled rates, pressures and temperatures. Progressive
testing has provided useful results with design modifications being made in line
with a planned testing programme. Simulating typical downhole conditions of high
temperature and 30 bar pressure, the modules have been operated at 55kw and
45,000 rpm. The JIP partners were able to witness the downhole compressor module
running at constant speeds as well as with repeated starting and stopping.
Results from recent tests are representative of requirements for the Company's
field trial units.

Continued testing at Spadeadam for the remainder of 2007 will determine boundary
values for the machine in this environment. The procurement process is scheduled
to start in the first quarter of 2008, in order to have machines available for
deployment in the field trials in the final quarter of 2008.


Representatives from the JIP partners commented as follows:

Luis Ortega, Consultant of Reservoir Technology. Repsol YPF

"I have been impressed with the results from the test rig and am pleased with
the progress made. I look forward to the next stage of deployment within the
field."

Dr Mike Swidzinski, Senior Consultant Engineer. ConocoPhilips (UK)

"Progression of the Corac DGC prototype through to flow loop testing is an
important and significant milestone for the project. The information generated
from these flow loop tests will serve to demonstrate and frame the capabilities
of the DGC, and thereby reduce the risks associated with the anticipated future
deployment of this novel technology in gas producing fields."

Matteo Tommaso Di Tullio, Technical Leader Production Optimisation Technology R&
D for Eni SpA E&P Division.

"These tests have been useful in demonstrating performance, capability and
progress made this year and will give renewed impetus to the planned field
trials."

Gerry Musgrave, Executive Chairman, added:

"This is a landmark step in achieving a fully tested downhole compressor for
artificial gas lift from wells. When the units are deployed in a gas well they
could give an extra 40% of gas therefore providing important economic and
strategic value for the global energy market."



For further information please contact:

Professor Gerry Musgrave
Executive Chairman 01895 813463
Richard Darby, Suzanne Brocks, Ben Willey
Buchanan Communications 020 7466 5000



Notes to editors

Corac is an intellectual property, engineering and licensing group, focussing on
high speed electrical direct drive turbo machinery based on its unique expertise
in gas bearings for which it holds several patents. Corac has created an
innovative 'no oil' turbo compressor together with a unique gas seal, and is
part of a joint industry programme for the downhole gas extraction industry.
Further information on Corac is available on the internet at www.corac.co.uk

Well done Notlob! I'll have to wait a bit for the dust to settle now, as I'd come out of this stock when it wasn't moving for ages.

Does the procurement process starting in first quarter 2008 mean the oil companies will be buying the equipment or does Corac have to provide them to complete field trials which are planned to end in the last quarter 2008?

I don't think it makes any difference. The oil companies are funding the trials so ultimately they will be buying the test equipment.

Agree but apparently this equipment is expensive so somebody has to finance the cost of procurement.

As far as I know, all of the funding is agreed so how it is done is irrelevant.

The only thing that matters is whether of not DGC ultimately works. The Company and apparently the oil companies believe it will fly. The market believes that the risk of failure is greater hence the current low share price. If there is a showstopper on DGC the price will drop like a stone, if it works then it will be a multi bagger. The current small price movement does not matter.