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.

http://www.worldwidebb.com/news.php?id=latestnews&cast=397


01.02.2008 - CORAC finally makes its stage debut.

Youd have to be living as a castaway if you so far havent received an email or mailshot from a certain penny share tipsheet extolling the virtues of the Torpedo Technology that is going to redefine the boundaries of World gas production and make lucky / shrewd shareholders in its developers over 20 times their money.

Long time readers of these columns will have instantly identified the subject of this ubiquitous advertising blurb as the little known ( at least until now ) hi-tech engineer, CORAC Plc. Originally recommended here as long ago as November 2005 and at prices as low as 25 p, the stock has received more regular coverage here than any other company being our Share of the Year in both 2006 and 2007.

No doubt with the help of all the current publicity, the shares are now flirting with recent highs at around 65 p. Of course, the story remains pretty much the same : Coracs unique downhole gas compressor ( DGC ) which can literally suck gas out of underground reservoirs is reckoned to be able both to accelerate daily production by up to 40 % and to recover stranded gas once natural pressure has been depleted again delivering a gain of up to 40 % in total production.

Since there are estimated to be around 100,000 wells worldwide capable of benefiting from this, everyone is conservatively expecting eventual sales of 1,000 units per annum. Priced at about 1m. each, this would propel Coracs turnover from nothing to the magic 1 Billion mark implying a shareprice of over 13 ( the companys current market value being only 55 m.). Small wonder that Gervais Williams, Head of UK smaller companies at Gartmore who have built a large stake recently stated in a national newspaper that Some of the companies we research are not just 30-50 per cent undervalued; in our opinion they are trading at entirely the wrong price.Corac, a company that helps oil companies extract more gas from each well, is a good example. There is huge scope for Corac to sell its 1m compressors.

With the DGC scheduled to be deployed in its first live trials later this year, the question on everybodys lips is how long it will take for the company to ramp up its production and fulfil these shareprice hopes. As we have always warned, patience is the key with Corac and its revolutionary DGC but original holders have already been rewarded by a 100 % increase in 2 years so the wait is not too agonising !

The company is still essentially a science based operation and therefore plans, quite sensibly, to outsource the components for each module and just perform the final assembly and testing itself. A recent 4 m. equity fundraising has largely been earmarked for this facility and the necessary working capital. 2 of the companys industry backers, Repsol and ENI, will probably order the first half a dozen units principally for the first field trials late this year. These partners are mainly involved to get first dibs at DGC units for their gas fields rather than to earn from the compressors themselves so they will be paying pretty well the full price.

Thereafter, we expect these 2 oil giants to take the whole of next years output which we estimate could be anywhere between a dozen and 2 dozen units. Holders need to bear in mind that it is not just the assembly and testing process that has to be bedded down but teams have to be trained to install these compressors at each gas well. On top of this, Coracs third partner, Conoco Phillips UK, who are principally interested in offshore applications, will be champing at the bit as well.

Repsol is effectively the national oil company of both Spain and Argentina while ENI ( better known for its Agip petrol brand ) is Italys national player. Between them they are responsible for over 7 billion cubic feet of gas output PER DAY everywhere from South America to North Africa. With Conoco also extracting over a billion c.f. per day from the North Sea alone, it could be a long time before other multinationals even get a look in.

There has never been any doubt as to the demand side of the DGC equation; the real question mark remains the scaleability of production. We would certainly hope that output could be cranked up to one a week in 2010. This would suggest net earnings of perhaps 25 m. per annum. Applying a modest price earnings ratio of 15 would throw up a market value of 375m. and a shareprice of 440p nearly 7 times todays level. This is interesting enough over a 2 year period but it is anyones guess what happens after that.

Apart from fresh orders coming in, existing units will have to be replaced every 2 years so production could rise exponentially. One wonders if, by then, Corac will have been taken over by an oil services giant capable of turning out and deploying thousands of DGCs or, more preferably for shareholders, the technology has been licensed out to such a global player in return for a lower margin.

Either way, Corac remains a superb recession proof share to hold. It keeps creeping up year after year regardless of general Stockmarket gyrations and it is still difficult to get ones head around the potential and we havent even considered the upcoming industrial applications for the companys oil free compressors. As for the near term, we are still looking for a year end price of between 100p and 200p.

another nice move today, so much for Cynic's 'almost certain' plateau!
anything but!

am i meant to fret about it? ..... don't think so! ..... firstly, almost every share except SOLA and MPH has moved up, though i am pretty certain i shall still be able to buy back CRA cheaper than i sold .... anyway, i have no prob paying more if i deem it right .... secondly, and far more importantly, have made many times more than the 2-3p extra per share on CRA by doing that appalling thing called TRADING, primarily in RIO and XTA, but also IEC, PMO, POG and Dow .... furthermore, i have BANKED 95% of those profits!!

in conclusion, try not to be a supercilious chump chop with a chip, hard as you may find that

ci-nyc

ooooooooooh....
very touchy!

obviously hit a bit of a nerve!

canal root drilling without anaesthetic might ..... the weak vinegar that goes with your chip makes no impact whatsoever

Mid price now of 69, I must admit have been tempted to get in, in the past but still doubtfull as weather this technology is just alot of hot air.... Still can't justify the sp, agree theres plenty of potential but as I've learnt the hard way potential doesn't always carry profit, SEO, DEMG fine examples....

i suspect the potential in CRA has far more going for it .... as far as i can determine, the field tests seem to have performed exactly as predicted .... even so, the "real thing" is still likely to be at least a year off i would hazard

Not even sure of the potential in all honesty, in theory everything sounds great however sucking gas out of the ground..... Reminds me to some extent of Dyson and their over rated cyclonic cleaners... I'm sure a few days of research will prevail..

back to front! ..... it compresses the gas, thus increasing its pressure and % of extractability (barely english i'm afraid!) ...... sure hope it'll work better than mr dyson's vacuum cleanere about which i hear little good.

Off topic, the early Dyson's were too heavy and expensive....shame that you can't put this in an Isa... the graph looks good... don't know much about this one...need to do a bit of research...

>the early Dyson's were too heavy and expensive....shame that you can't put this in .......

As it's the CRA thread, then for a moment there I thought you were going to say "the early Dyson's were too heavy and expensive....shame that you can't put them down a hole in Cumbria and call them DGC's".

easy, any problem reported with DGC's and expect the sp to fall 50%, although this will be overdone as companies currant compressor order book (as reported) gives support of approx 35p share price , however as widely reported, if successful, sales of DGC units at 1m a time and with replacements required at estimated 2 years shelf life, and 1000 well deployment possibility, the possible growth (recession proof) year on year for this co is multi bagger from current sp...
you place your money, you takes your chances... fwiw, im in for long term with a large stake and already up 30%, log may the rise continue (on hopes)...

Seems like another good day for CRA already. Interesting if it'll continue until preliminary results are released (Tuesday 19 February 2008).

just keep an eye on Dow ...... i really do think that is due for quite a heavy correction from the current level and that will drag down london

CRA, with the prospects that it has and the partners it has on board, should really be trading north of a 1 now.

See Happy Harry is at it again, given the volatility of the markets, if you keep saying it there is more than a decent chance you will be right!

smart arse - lol!
just for your info, Dow indicators for today were initially showing +40 but now only +12 ..... my money is already laid on Dow falling back

not really bothered what the yanks do
it could be up or down a couple of hundred.....who knows?
prefer my longer term investments , such as CRA, which have already given me 6 figure profits, and I don't mean 119 5 shillings and three pence ha'penny(!) to chucking a few bob on the roulette wheel that is called the Dow.

but each to their own, bon chance!

you are not entirely wrong, but (any) US malaise will assuredly spill over to London ...... more importantly, many or even most commentators do not believe we are remotely out of the woods yet with regard to wordlwide economic slowdown or worse (nor do I) ..... if that indeed proves to be the case, then all markets and shares will suffer significantly, regardless of their underlying prospects

yes, but as an investor, that is what you have to live through
goes with the territory, one day Mr Market is in a generous mood, next day he don't want to give you nothing
I cannot predict such things and don't have any interest in doing so.
In small cap shares , which is mainly where i tend to be, its a question of holding , through good and bad times, and hopefully getting a winner at the end of it.
It has worked for me,so far.

That's not quite what you said on the IPL thread!