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.

I have an IG account, didn't know you could get free L2 access throught it, how do you do that, BT?

Back to CRA, I think it is ,unfortunately, quite probable that one of the oil services companies will take out CRA at any point in the next few years. That is my only real concern, as the technology and business opportunity here means that CRA should be a multi-bagger under its own steam. But an oportunistic bidder may get CRA considerably cheaper than that.

Still, guess a couple of quid would not be the end of the world!

Indeed, the account is actually through Blue Index, who give you an XO platform to trade with which includes L2 for free, they use IG who'm i called directly this morning to deal, but will normally, now, use the broker service, first impressions are very good as they are matching the dealing costs of TDW but providing a full package inc brokerage advice and L2 for free...

thanks, BT

Cyners, that's not you with that 54k buy was it?!!!, good to have level2 again, now gone 3 - 1...

not guilty - for once!

inching up again

may have been so then, but relatively tanked today even after rest of market has recovered strongly ..... no obvious reason why at all ...... time to consider buying back in

Richard, Gartmore have reduced holding by approx 850,000 shares according to my calculations, through March, probably causing the mild sell off.
When chart didn't start next upleg, last week, i predicted a small correction, co-inciding with 50dma being broken downwards... can imagine low 60's next week, which will do me fine as i'm looking for another 50,000 yet, i believe i'm now at sh*t or bust level with this company! but not quite at threshold announcing levels yet!!!

I should point out, i'm fairly certain Gartmore would have taken up their allocation of the placing last December @42p, so probably little surprise to see them take some profits, who knows maybe they will be re-purchasing again soon...

the chart is not very pretty at the moment, but howq far sp will fall is very hard to judge .... down to 200 dma would be very nice as a potential buyer, but see no real reason for it to fall that far

Agree, two weeks ago every time the MM's dropped the price it hit lots of buying pressure, however they have waited patiently and been rewarded today as the selling (albeit in small volumes) has been steady throughout the day, it doesn't alter the fact that the company has end user products being trialed with a major drinks company, and is producing a compressor that, if successful can uplift 30 to 40% of the worlds stranded gas...

Ok ramp over... carry on selling...!

Previous resistance level of 60p should be strong enough support in the absence of bad news, therefore personally looking at 61/62p to buy, although i have achieved true investor status here, as apose to trader, with a five year plan, unless, of course, they cant replicate the success they had in Cumbria in the two gas well field trials later this year...

Looks as thuogh the sp is heading for the mid 50's in the absence of any fresh news.

I would still place the lower trend channel at around the 60-62p level, of course one cant rely on charts for future performance...
It appears some buyers are surfacing albeit in small volumes, however enough to make it 4v1 on Level2, so expect next move up, although i will still await further weakness before topping up some more.

Absent any positive news, one could view the chart as "three humps and a craggy mountain" a well established formation that reverts back to the humps - around about the 200dma in this case - 54p ish. Do hope so since have not bought in yet and am just coming into funds to do so.

Not de-ramping, just hoping.

I agree waiting for an opportunity to re- enter around 55p.

Well, i couldn't resist topping up by 15000 after my last post, 4v1 looked too ominous, and happy to see it rise strongly shortly after... I'm not too worried which direction it takes from hereon in, am happy too add on any weakness, but already overweight compared to my normal size holdings...

on the basis of Dow so far this evening, you may have a good opportunity on Monday

Hmmmm CRA always seems to do the opposite to the markets, look at the last week where the FTSE and DOW have recovered somewhat, CRA dropped, this afternoon - the opposite... I rub my hands together in anticipation...:)

Not entirely sure one can deduce a great deal from the chart in this instance, as Mr Farleigh points out, charts are for astronomers, news is what matters, who knows when the next news will be? or if it will be positive/negative? my take is that the potential is so great that anything positive will see the sp move up rapidly as it has done in the past, obviously the longer the absence of news the more the sp will drift. One things for sure, if we are at the start of a more prolonged bear market as analysts are now predicting, this is one company that can buck the trend, the positive here is that the compressors are proven to work in a test environment, so, with the potential involved, it must surely be a question of when they deploy one down a well successfully and not if... why would they give up if they hit problems? surely it will be a case of - if at first they dont succeed, try and try again!