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.

Apparently, mm's have called it a limit up stock, although i can still see some (small) purchasing going on this morning, damn them... lol!

on line they , currently, will buy 50,000 off you for 69.5p but only sell you 2,500 at 72p.
clearly they don't want you to be buying their stock!
But, if you have got a decent broker, you will be able to buy at least 5,000 at the touch point and more likely inside the spread.

On-line limit with Selftrade is 2500 shares at 72p. Still possible to execute. Not tried a sell.

Then that looks positive to me, or am I misreading it.
2517

I have never heard of the expression 'limit up stock' applied to small cap AIM stocks

think it is a term applied to commodity futures and the like, but not, as far as I am aware, to UK stocks.

sounds like a MM or broker giving out a bit of bullshit?

Thats how i see it, although nothing is ever that simple, i cant see that the market makers are trying to look after pi's interests, and can only presume that there really is a shortage of stock out there... However, how can restricting the volume to buy reduce the demand? or is it that they think the sp is too far ahead of itself based on the progress of the dgc trials, ie its purely speculative at the moment???

BigTed-------I'm sure if they thought the sp was too far ahead of itself they would not restrict your buying at whatever sp levels, as they would be offloading shares that would be cheaper to buy later. That's my view.
2517

you are correct, they only look after one interest, which is their own, no problems with that, we all do the same.

They will not have an opinion on the stock, they work on supply and demand and , at the moment, they want stock, either to balance their books, or perhaps there is a large order they are filling or mayybe they would like a few more on board in case of good news!

Given that they seem reluctant to move the sp up too much, I would think that means that the option of filling a large buy order at a certain maximum price is my favourite option that fits in with the situation. It also fits in with the fact that Corac have made a number of presentations to institutions following the annual results and I understand that these went down well.

Equally, it makes no sense, when there is more demand for a share than supply (ie -sells) the price goes up, you cant tell me that there simply isn't any stock out there, which is kind of what i meant by looking after pi's interests - the mm's know that every time they try to walk the sp down the stock gets bought up, but why should they care if on speculation alone the sp goes to 1???

Cross over of posts, but yes, the large buy order (or orders) certainly fits the bill, in which case the sp will gap up when reported...

there was a large buy order about a week ago, something like 362,500 shares, reported after hours. I think it is very likely that this was an institutional buy and I guess whoever it was could be in the market for more.

just checked, it was 362,100 on the 19/03/08, reported at 18:49 at 71p.
it is not showing on all feeds (perhaps something to do with it being after hours)
certainly the price, at 71p, would fit with the current set of circumstances.

Indeed... TDW are allowing 2500 purchase through nominee, just wondering if its worth trying a fill or kill order for 15000 top up, prob no chance... in any case wanted them by CFD really...

Also 2500 being quoted at full 72p whereas many dummy trials i have done recently can purchase well within the indicated spread...

guess if it is a large buy order being filled, may not see a trade for it for several days.

ps, buy for 10,000 @ 72p just gone through, so certainly possible to buy in greater size, presumably with a decent broker.

That was mine NL, i tried a fill or kill at 72p and it went through... will now have to cough full price though!!!

nice one, BT
fingers crossed you will soon be showing a healthy profit!
added a small amount myself in my pension pot, a mere 2,500, don't really like using these on-line chaps , but needs must sometimes.

You noticed that purchase quickly, was that on L2???

noticed it on my monitor first, but I do have L2 as well.