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.

See the video of HOOT being a tart here!!!!

Video removed due the uglgy nature of hoots face!!

Corac looks very strong and I expect more upward movement.

cheers GF.

Do you know what Goldfinger, you remind of Sue Helen.

Does anyone know why CRA has been suspended on the market ?


Cheers

it hasn't been, what are you on about?

Pom u been told to remove link :-)

Cheers.....

REGARDS THE HOOT...........

Excellent news for CRA, I spke to them last week and told them the shareholders should be given some updates on progress on the JIV and theyve obliged!!


Corac Group Plc
15 June 2005


15 June 2005

Corac Group plc

Downhole Gas Compression: Phase 2 of Joint Industry Programme signed

Corac Group plc ('Corac'), the intellectual property and licensing company
specialising in compressor technology, is pleased to announce the signing of
Phase 2 of the Joint Industry Programme ('JIP') for the development of its
unique, patented downhole gas compression technology. Phase 2 involves detailed
engineering design and component testing, which is expected to lead to the
manufacture and testing of a prototype downhole in a producing gas well within
two years.

This announcement follows the successful completion of Phase 1 of the JIP during
which considerable engineering and experimental verification work was carried
out. This has significantly progressed Corac's understanding of the operating
environment likely to be encountered downhole and clearly identified solutions
for the compressor system's operability under a wide range of well conditions.

In particular, progress has been made on a number of important fronts including
confirmation of the functionality of Corac's air bearings on natural gas and the
operability of the downhole gas compressor system under typical flow conditions.
Significant breakthroughs have also been achieved in the area of power
transmission and downhole electronics, thereby maximising the compressor
performance downhole.

Completion of Phase 1 of the JIP has confirmed the operability and functionality
of key enabling technologies under anticipated downhole conditions to the
satisfaction of the five major operators who participated in this phase of the
JIP, all of which own and operate gas assets worldwide which could benefit from
this potentially game changing technology.

Commenting on this significant stage in the JIP, Professor Gerry Musgrave,
Chairman, said:

'The signing up to Phase 2 of the JIP is a major step forward in the ongoing
development of this innovative technology. The continued, invaluable support to
Corac from the oil and gas industry who have now committed over 2.5m of funding
since project commencement, is fundamental to the success of Downhole Gas
Compression and is a clear indication of the level of confidence they have in
this strategically important and potentially game changing technology.

We are excited by the prospects from the next phase of the JIP.'


For further information, please contact:

Corac Group 01895 813463
Professor Gerry Musgrave, Executive Chairman
Roberta Miles, Finance Director

Buchanan Communications 020 7466 5000
Richard Darby, Suzanne Brocks, Ben Willey


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 a range of
'no oil' turbo compressors 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



This information is provided by RNS
The company news service from the London Stock Exchange

Just bought this morning but doesnt seem much interest on here for this which is a pity as this seems to me to be a very cheap stock.

Just found this on the other side.

Has anybody seen this article out on CRA today.Registration is free once you enter your details.

http://www.proactiveinvestors.com/registered/articles/article.asp?CRA

Corac Group: Downhole Gas Compression technology could be a big winner.
By William Foss

The British Government recently announced that nuclear power is back on the agenda.

So why the about turn on what was only a few years ago considered a source of power that was destined for the history books? Oil. Or should I say concerns about our dependence on oil. Europe is moving away from coal and oil as sources of energy and instead focusing on cleaner alternatives including natural gas, coal bed methane, nuclear and renewable energy. There is a slight hitch however. Nuclear power stations arent something you build overnight, so they cannot simply replace other

Six months and nothing posted on this thread. Price hasnt moved up much, but if you look at the 50 and 200 day moving averages, over the last 5 years, you will see a definate repetative trend, with SP growth of about 4p per year. 2006 results are due out at end of March, and with their recent contract wins, this year may be the start of a breakout. Worth a look. The chart also shows peaks in April 2005 and May 2006 significantly higher the the average. Sorry but I havnt posted a chart before and am having difficulty doing so at the moment, but if you enter the same info into charts page, you will see what I mean.

Corac presented at the Society for Underwater Technology (SUT) a few months ago, the slideshow of that presentation is now available.
-The presentation concerns Corac's downhole gas compression(DGC) project

http://events.sut.org.uk/past_events/061123_london/Liley/presentation.htm


Here are a few of the extracts that I particulary liked:

-The concept is based on Corac's existing technology

(ie Corac are selling and getting repeat orders for their Industrial Air compressors, DGC is based on the same technology. imo, this greatly reduces the technology risk in the project.)

The technological breakthroughs include:

-gas filled brushless permanent magnet motors
-downhole power electronics
-drive and compressor in one piece shaft
-low speed blading

The Compressor module has:

-No gears, liquid lube systems, seals nor couplings
-No wearing surfaces in operation
-Reliability built in from the outset

(There are some good drawings and pictures in the presenation, including one of the flow-loop testing rig in Cumbria)

The test loop:

-Replicates the down-hole environment
-Various gases
-Represenative pressure and temperatures

DGC benefits:

-Acceleration of early production
-Increase in Ultimate Recovery
-Extension of production plateau
-Enables production of otherwise uneconomic fields
-Rejuvenation of declining fields
-Extension of useflu life/dererred abandonement.

(that is a v.nice list of benefits and will be worth billions ot the oil/gas companies and worth a lot to CRA shareholders as well!!!)

-very interesting presentation article, written by the group, ITF, that puts together companies and technologies in the oil/gas industry.
-this is the group that helped Corac's JIP DGC (down-hole gas compression)come into being.

http://www.energyinst.org.uk/events/files/oildep/anderson.pdf

-there is some interesting background info for those interested in the gas/oil industry

eg, page three, current methods typically yield recovery factors of 35%-40% for oil and 50%-60% for gas.

-what a prize on offer there is for anyone who could increase these rates of recovery (come in Corac!!!!!!!)

-page 5 maps out how large the prize is just for a UK setting for ITF memebers if recovery rates could be raised just by a few % points
-it equates to 1,400m barrels of oil (i make that $70bn at $50/barrel!!)
-and 5+ TCF of gas.

(that is just the UK setting, think global, then think what Corac could do for the gas industry with up to 40% extra recovery!!!!)


-page 13 outlines there are two types of gas not being commercially recovered
-residual gas left after conventional depletion
-gas trapped in low permeability formations (tight gas)

Advanced techniques are needed to release these resources-globally 100's of TCFs

-page 14 talks about advanced gas recovery techniques
-first one mentioned is

-Downhole gas compression.

That is 100% Corac, as no other company are doing or can yet do downhole gas compression, in addition, DGC is being funded by the JIP project set up by the ITF, who wrote this article.

Its very nice to see in effect a third party endorsement of the importance this kind of technology could have on gas extraction rates and the huge monetary benefits that that would bring.

-interesting read from Wealth Daily yesterday
-sounds like US will have to find more gas from somewhere other than Canada
-interesting to read that canada has lost 43% of its proven reserves over the last 30 years.

-Wonder if our N.American cousins would be interested in a technology that could stick a decent chunk back on those reserves?
-Certainly DGC could be part of the equation and contribute significantly to meeting the energy gap.

-How much would a Company that owned unique technology be worth that could extract billions and billions of $$$ of gas that would otherwise just have to remain in the ground?
-Add in said company had already got their future customers in the shape of Conoco, ENI and Repsol lined up and that these guys were funding the tech?

-pinch me ,please, 25m, you're having a laugh!!!!
-and that includes the Industrial Air division, just starting to sell its revolutionary no-oil energy saving compressors and get repeat orders, in a market worth billions in its own right.





Canada's Secret Natural Gas Crisis By Keith Kohl


Baltimore, MD * Jackson, WY * Missoula, MT Monday, February 5th, 2007


Baltimore, MD-Peak gas will become a major problem over the next decade. Canada's natural gas industry is in jeopardy. And with the U.S. being so dependent on Canadian gas, this puts our economy at risk from the resulting shortfalls.

The North American natural gas market hinges on Canada, which exports half its gas production to the United States. In turn, the U.S. supplies Mexico with over 17% of its demand.

And Canadian gas exports have grown immensely. According to the Canadian Gas Association, they increased over 306% in the last twenty years.

So any slowdown in Canadian gas production would greatly affect its southern neighbors.

It Already Hit the Fan

In the Energy Information Agency's (EIA) International Energy Outlook (IEO) published last June, Canadian natural gas production is seen as declining steadily until 2025.

But that isn't the harrowing statistic.

Canadian reserves have been declining for decades. Their reserves of natural gas were estimated at 99.2 trillion cubic feet in 1985. That number fell to 56.3 trillion cubic feet in 2005. Canada has lost 43% of its proven reserves!

The largest deposit of natural gas is in the Western Canada Sedimentary Basin (WCSB). This area accounts for about 98% of Canada's gas production.

The Canadian Energy Board published a report assessing the WCSB five years ago. The data show that production from recent gas well connections has declined faster than older connections. Moreover, production from then current connections was declining by 20% per year. The report noted that production would have to increase by nearly three billion cubic feet per day to offset those decline rates.

The 20% decline rate is almost double the 13% decline rate reported in 1992.

And the picture gets even worse for Canada
The EIA's 2006 International Energy Outlook also projected that natural gas demand in Canada's industrial and electric power sectors will more than double by 2030.

Last year Canada consumed half of its production and exported the rest. Overall Canadian consumption is expected to grow an average of 1.9% annually until 2030. This means Canada will consume 85% of its production.

That will reduce exports to the U.S. by 35%!

Natural gas prices are also growing rapidly. The price in 1995 was $2.71 per million Btu(MMBtu). It soared past $13MMBtu during 2005, an extremely volatile year. Yet even when it stabilized in 2006 between $6 and $7, that was still 139% higher than the 1995 price.

Abandon Ship

And help is not coming from the major oil and gas companies.

Natural gas is quickly taking a back seat to Canadian oil sands. Many companies are slowing or even dropping exploration programs in 2007. One of the reasons is because of the higher profitability of oil projects.

In fact, nearly $100 billion dollars will be invested in the future of oil sands over the next decade.

The Domino Effect

As I mentioned before, the declining Canadian natural gas industry will significantly affect the rest of North America.

The U.S. will need to make up the lost gas imports from Canada, causing an increase in production from unconventional sources. This includes resources like tight sands, shale and coalbed methane.

Another stress point for the U.S. will be discovering new gas fields. Most of the conventional fields have been found. Developing any new fields will be costly.

Next down the chain is Mexico.

Mexican natural gas is underdeveloped despite significant reserves. The country's state-run oil and gas company owns exclusive rights to Mexico's oil and gas reserves.

And according to the EIA, Mexican gas consumption will rapidly grow over the next twenty years. They will need to double their imports by 2030 to meet demand.

The serious decline in Canadian natural gas supplies is going to severely affect the North American energy market. Strong development in liquefied natural gas will need to take place if it is expected to meet demand. Natural gas prices will continue to climb higher until the switchover to LNG takes place.

Until next time,

Not long now and I would expect this share to rise to about 62p very quickly. This is based purely on historical chart analysis over the last five years. Between now and the end March early April this epic should rise considerably. I'm looking to get in about or below 34p in the next week or two. Good luck to anyone that thinks similarly.

oilyrag
think you could be right, but it may be to do more with newsflow than charts!
whatever it is, if it works like that, I will be happy!

Hi notlob, I have been studying the purchases against spreads for a while now, I noticed that all the deals at mid price were purchases. The annual rise obviously coincides with the release of their annual report about end March. I got in today because I suspected that a few early trades were purchases and time I feel is short.

hi oilyrag
think interest is growing in this one, it looks set to go on a decent run.

bit of an old presentation, but one of the few where I have seen the cost benefit per gas well very clearly illustrated

http://www.ptac.org/res/dl/resf0302p09.pdf


-check out page 11, the ref.case gas well is shown as achieving an additional 20Bscf over a five year period, equal to $80m at a gas price @$4.0 per mscf

-that is discounting other advantages DFC gives, such as cash flow, steady production etc etc

-current gas prices are now around double that figure, so we are looking at about $160m benefit per reference gas well.
.

-ie, one gas well could give a gain of $160m using DGC, or put it another way, over three times the current market cap of Corac!

-multiply the gain on one well by the estimate number of wells suitable for DGC,that is 100,000 wells and the potential gas gain is $16,000 billion!!!!
-If I've done my maths right, that is!!!
-+ even if I'm out by a few noughts,(don't think so, but prepared to be corrected) it still looks pretty impressive.

-ofcourse, the average gain may be more or less than the reference gas well given in the presentation and will depend on the actual wells characteristics.

-and the 100,000 wells is an estimate.

-But the calculation gives some idea of the possible monetary benefit Corac's DGC could provide.

-to think that Corac are currently trialing a prototype DGC in Cumbria right now and are on the last lap in developing this technology is pretty incredible, all the more so when selling off a market cap of 25m. You even get a fully functioning and selling units Industrial Air Division for that figure!!

-is this the largest ever benefit/market cap in the history of the stock market?!!!!

Buying price rising with each trade this morning, nice.

I'm just joining the fun on this one--massive potential if it all comes off.