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.

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.

Excelent news.

The price of CRA will increase when they start taking orders on the DGC's. At the mo this would appear to be late 2008. However as with all good things there is speculation, manipulation and greed, so I would expect there to be considerable price movement based on these facts. For real profits its a 2 year hold if DGC works.

hi oilrag
personally I think the price will advance before that, bit like a bio with a blockbuster drug, the sp will move up a long way well before drug is finally swallowed! CRA much less risks than a bio, so perhaps not the best analogy.

Tipped today in the Independent

http://news.independent.co.uk/business/analysis_and_features/article3075701.ece

Corac Group

Our view: Buy

Share price: 53p (+3.5p)

One of the problems with gas production is that when the pressure in a field falls it becomes very difficult to carry on pumping.

Pumping a gas field is a little bit like putting a pin prick into a balloon. At first the air rushes out, but by the time about two thirds of the air has escaped the pressure falls to a level where no more gets out. As a result, most gas fields are abandoned with large amounts of gas left behind.

The AIM-listed Corac Group has developed technology called Downhole Gas Compressors that artificially increase pressure and therefore the amount of gas recoverable from depleted fields. The potential for this technology is enormous the broker Numis Securities believes that just 0.5 per cent market penetration could results in revenues of 400m for Corac.

The technology is not expected to go into commercial use until the middle of 2008, but the early signs are very encouraging. Yesterday, the company announced that testing at the Spadeam well in Cumbria has produced positive results and Corac's partners in the testing are equally enthusiastic.

Corac's partners are not exactly Mickey Mouse either ConocoPhillips, ENI and Repsol are major league oil groups. Testing is due to be expanded and Corac already has customers lined up for when the testing is complete.

This is not one for widows and orphans, and at this stage there are no meaningful numbers to go on. But Corac's technology has huge potential and with natural resource prices soaring the demand for Downhole Gas Compressors could be substantial. Worth a punt.

http://www.worldwidebb.com/news.php?id=latestnews&cast=383

18.10.2007 - Into the Final Furlong.....

Secure a foothold now at around 41p and look to add as future milestones are reached. Its hard to believe that we first wrote this about CORAC way back on 4th April 2005. Since then we have featured the company as a Share of the Year in both 2006 and 2007 not because we saw this as a quick buck opportunity but as a stock with the potential to 20 or 30 bag over a 5 year period.

It still seems incredible that 2 years down the track we have today reached the penultimate milestone and the shares are barely within sight of their all- time high at 54p. If ever a stock needed the patience of Jobe, this is it.

Readers are probably split into 3 camps with regard to this company about which we have probably penned more column inches than about any other. There are those who have bought, got bored and sold. Those who stuck rigidly to our original advice and bought an initial toehold with a view to topping up after each milestone and those who are yet to gain even a foothold.

So, for everyones benefit, we are going to drum it in again. Short of finding the next Google or Vodafone, this tiny company, in our view, presents the best opportunity available of making 20 or 30 times your money within a reasonable timeframe by which we mean within 5 or 6 years not 5 or 6 months. Nor are we talking about waiting indefinitely for some arbitrary day when the shareprice suddenly rockets into the stratosphere but a steady progression as revenues ramp up.

For the benefit of new readers and to remind older ones, lets recap, as briefly as possible, the story leading up to todays announcement which, in itself, could imply a shareprice value of 224 p. Corac has effectively reinvented the humble compressor with its turbo compression technology. This will, in time, lead to greater efficiencies and cost savings in a whole raft of industrial and refrigeration applications worldwide. Major manufacturers and distributors like LMF of Austria and Fu Sheng of Taiwan have already taken delivery of their first units and are reporting 16 % efficiency improvements.

Starting from scratch, gross profits from these Industrial Air units are forecast by brokers, Numis, to double or treble annually from next year onwards. This prospect alone is enough to underpin the companys current market value of 40 million. However, the jewel in Coracs crown remains its Downhole Gas Compressor which is capable of boosting natural gas recovery rates by between 20 % and 40 %. In a world which is crying out for additional gas supplies, this technology which allows a compressor to travel thousands of feet underground through 7 well casing to suck gas directly out of a reservoir is worth literally billions to oil and gas companies.

Major players like Conoco Phillips UK, Repsol of Spain and ENI of Italy have funded development of Coracs DGC, provided technical input and will conduct actual field trials late next year. Yet, amazingly, they only stand to receive a tiny percentage of future DGC sales. Presumably they feel that being at the front of the queue for DGC units is reward enough especially when one considers that deployment of DGC in one Repsol operated field in Argentina could boost that countrys entire gas production by 3 % virtually at a stroke.

Todays announcement confirms that DGC is now ready for actual field trials at the back end of next year having successfully come through its flow-loop testing at the Spadeadam test facility in Cumbria which commenced in January. The test unit has functioned to the satisfaction of Conoco, Repsol and ENI whose assigned representatives have all lent their names to the Stock Exchange release. All that remains is for the unit to be tested to breaking point to determine the ultimate boundaries for use.

As far as we are concerned, this represents THE major event milestone that we have waited for so long. The Spaceadam facility is one of the Worlds leading sites for testing equipment in virtual extreme conditions and is capable of replicating the temperatures and pressures likely to be encountered downhole. This is hardly surprising since it was used not too long ago to test ballistic missiles such as Bluestreak.

The last piece of the jigsaw is actual field trials by the 3 existing industry partners scheduled for the final quarter of next year. At least one test site has already been earmarked and, as long as the first unit works well, this field alone will require a further 19.

So how does all this relate to Coracs shorter and longer term shareprice prospects. In a recent study, the companys joint brokers, Numis, assumed its lowest market penetration scenario and came up with a net present value of 96 p using an 8 % p.a. opportunity cost of funds discount rate plus another 12 % p.a.to take account of the risks prior to commercialisation. Eliminating this risk element, which todays news almost does, throws up a figure of 224 p. In simple terms, RIGHT NOW, the shareprice should be somewhere between the two figures. No doubt, an upgraded price target will be announced very shortly.

Of course, NPVs do not mean too much to the lay investor and are really designed for Coracs growing band of institutional followers. What the average Joe relates to a something that can fit on the back of a fag packet. So here comes an attempt at such.

Number of gas fields worldwide suitable for one or more DGC units to boost recovery rates = 100,000. Each unit needs replacing every 2 3 years. Just 1,000 unit sales p.a.at c. 1 million = annual turnover of around 1 Billion. Assume similar market value for Corac and divide by number of shares in issue ( 75 million ) = 13.33p or 25 times todays price.

Of course, all this isnt going to happen overnight. The first 2 or 3 units to be ordered next year will deliver about 3 m. in sales compared with a few hundred thousand this year and, although this fantastic project has been fully funded to date, the company might need to raise a final million or two to build an assembly and testing plant for full scale production of DGC units. Full scale? Just 20 units a week is all that is required to meet our shareprice target. The only 2 things standing in the way would appear, as always, to be time and the threat of a pre-emptive bid by one of the big oil services players like Halliburton or Schlumberger.

good volume going through today, looks like breaking out to new 5 year highs

on the move up again

and again, very nice

break out on good volume well underway

Target: 1 short term

breakout!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I sold on last year as they were so dull---but I'm back in for a few today! be lucky!

I touted these last week on the top 10 for next year thread, sorry if that sounded like you had lots of time to get in on them...:)

Think this will get continued press coverage in Sunday papers and may well still perform well next week, despite the inevitable market sell off on Monday...

Any coverage guys this weekend?.

moving up again, last chance sub 60p, by the looks of it

60p+ buys now showing
break-out is gathering momentum.

59.5p mid, just ready to break through 60p now, going very nicely, next stop 1

there we go, 60p breached, onwards and upwards!

well, the "onwards and upwards" comment certainly put the kybosh on it.... !

learn to keep my big mouth shut in future!!!!

But if theres one thing I've learnt over the years, is its always nice to have a slight pull-back before plunging in again!!!!!