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.

if you want to scare yourself, and also have the time and patience and concentration to watch the markets, there is a lot of money to be made on the indices when they are this volatile

Back in CRA @ 66.5p.
2517

Think this is now the run up to results, the surge couple weeks ago was probably on share tips, 60p held as i thought, fingers crossed for sensible figures and a very bullish outlook...

the tiresome thing about CRA is the illiquidity and consequent frequent wide spread, typically 4/5p

I'm presuming also, that your not trading these by CFD, i agree, however this is my only long term hold and as such the spread doesn't affect me:) likewise in the event of further progress (or success) with dgc trials the illiquidity could work in my favour.

of course i am, but that makes little or no difference, and of course the spread affects you as it still means sp has to move (a further) x% before you are in the money

Strange, tried to find CRA on CFD the other day and couldn't, presumed it was too small market cap, my holdings paid for in Nominee, and can usually deal well within indicated spread...

IG has it .... may be that you need to ask your broker for cap is 55m which should be plenty big enough

Sorry yeh,. i meant i had found it now...

by the way, CRA is an MM stock, so the spread is as indicated though one can always leave an order in with a set price

*damn*, i sold a small amount from my nominee an hour ago, when the spread was small and re-purchased into cfd (there is no way to transfer them) and it would appear i seem to have sparked off some selling... oooops!

Despite the inevitable sell off upon results tomorrow, fel the graph is shaping up very nicely now, and very minimal downward movement in the last big market sell off...

lovely chart
think they will break north of 1 in the within the next few months.

Slightly bigger loss than last year, revenue down a fraction, were the results as expected or was something better envisaged?
2517

at this stage, revenue and losses are really imaterial, within reason.

It is all about progress of the DGC project (and, to a lesser extent, the Industrial Air side)

The report indicates progress on DGC is excellent, everything more than on track and I fully expect the sp to resume its upward path, as a technology that can have such a profound effect on the gas extraction industry must be worth a lot more than 50m or so.

interesting post from advfn

An eleven page note on Corac has recently been issued by Coracs brokers, Cenkos.

It makes good reading, with sensible projections and scoping out the potential on offer and also giving a fair amount of technical detail on the DGC project and why Coracs technology gives so many advantages, both for the DGC project and the Industrial Air side.

Obviously the note is too lengthy to post in its entirety, but here are a few highlights, or tasters.

The note is titled All the ingredients are in place

Opening paragraph

Corac enters 2008 in good shapre. The funds, partners , economic incentives and political will are in place to see the Downhole Gas Compressor through to field deployment, the penultimate stage of commercialisation. Successful field trials should swiftly be followed by orders from the JIP partners in respect of their assets in South America and Europe. Both of these strategically important fields are waning and there is considerable economic and political pressure on the operators to improve yields


Programme on schedule.

The JIP partners who are funding , advising and purchasing the DGC all gave their endorsement to the progress of the project last October following the witness testing of the flow loop rig in Cumbria. All parties are confident that the principal technical hurdles have been overcome and it now remains to make the bespoke machines for deployment in the field. This should happen in H2 2008 in Argentina and Italy. It will take three months from the time the device is deployed to establish success, after which orders should be forthcoming

Value implications.

The market for ESPs is likely to serve as a good bench-mark for how the DGC market will develop given the parallels between the two systems. This suggests that the DGC market will become a multi billion dollar industry as there are as many gas wells as oil wells that require artificial lift........

We believe that Coracs value will soon reflect its position in this important new industry.


Intellectual property.

Protected by 64 patents and a wealth of closely guarded know-how. This gives Corac a significant lead over potential competitors.


Geopolitical drivers

...in many parts of the world, assets are waning. Coracs DGC offers a solution to this problem. These assets still have plenty of gas but it is stranded and cannot be released using current artificial lift techniques. The North sea is a case in point. The UK govt. is keen to further maximise these reserves.

Proven Technology

The JIP partners witness testing in October last year is the strongest indication yet that the system, once tailored to the individual wells, is ready for deployment.


Management

...diverse backgrounds....estimate programme to date has cost c6m, of which 2m was equity funding. we believe that this is a significant edorsement of their capabilities, given that the DGC is ready for deployment and could create a multi billion $ industry.


The market.

The addressable market is about 100,000 wells.

therefore a market penetration of only 0.1% should result in sales of between 75m-100m. A 1% market penetration gives a turnover of 750m to 1bn

Wrong call today, as i sold some when they started dropping from nominee account, only so i could re-purchase three times as many in CFD's, however from moment i sold, the price moved up away from me and i have hesitated to replace since... will be adding considerably more on dips from here-in... still have core holding, but i fear time to add at these levels could be running out...

Still have that uncomfortable feeling that as they near sales contracts some big player will gobble them up.

i could happily live with that ..... never turn your nose up at a decent profit

Yeh but these opertunities dont come along every two seconds, i'm far from naive, but if they dont hit too many snags and the compressors work, make no mistake this share hasthe potential to be 5 within a couple years... I would hate them to be snapped up by a major for a 1 or so...