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.

sorry Mr B, but can't be arsed to wade through the above, interesting as it may be ..... however, i do notice that sp remains totally unmoved

why am I not surprised!
your choice totally, mr cynic.
btw, the share price has significantly out-performed the market so far this year, but it has not moved up today or in the last hour or whatever nano-second your attention span is.
next time, remind me not to bother!

sp has not moved in about a week; i follow it throughout the day daily.
however, i concur that CRA looks to have a very good future, but then so in theory does BRR which has signally underperformed nearly everything!
by the way, taking my profit 6/8 weeks ago (from memory) at a rather higher level than today, at which you also snorted and scoffed (surprise surprise), does not look to have been so stupid either.

not sure what BRR has got to do with CRA,as far as I can see, BRR is a technology which requires massive funding from somewhere to get implemented (the smelter, specifically, + poss the nickel project as well)
CRA is fully funded and backed + paid for by its customers

Lets see what happens, but my strategy has worked for me to date, with roughly a doubler, but fair play to you if you timed your trade correctly.

Richard, i also usually give long posts a miss, but seriously, it is well worth reading to get a far better understanding of where the company is at...

i shall fast read it tomorrow, but i know the CEO(?) says everything is wonderful etc .... if that is so, why did the market fail to take any notice at all, or is true fruition still too far away?

may take some profits elsewhere (perhaps SOLA short) and buy back in

just read it .... a resume would have been far better and no less informative ...... if i have read correctly, no real timescale for getting into true production and profitability and quite possibly or even probably further (significant) dilution to come

just read it .... a resume would have been far better and no less informative ...... if i have read correctly, no real timescale for getting into true production and profitability and quite possibly or even probably further (significant) dilution to come

live trials this year, production next year
adequately funded

i am very surprised that CRA do not intend to target end users ...... i read their logic but don't agree ..... CRA will still need provide technical expertise and back up to whomever they sell the kit .... this is an all-important function, the hands-on bit of which can be outsourced, just as our own company does.

that is not quite correct

The business model is that Industrial Air will be sold to compressor manufacturers who then sell to end users.

On DGC, which is, after all, the main event, Corac ARE selling to the end users, ie directly to the oil and gas companies. The services of oil and gas servies companies will be used, but CRA will be selling direct, albeit I would not be surprised if there was some link up with a services company to do the required engineering and completion works.

i'll believe you, though the long spiel above is very muddly (to me at least)


on Industrial Air (which i actually thought was another entirely different company), the comment was, "We are not selling to the end users, we are selling to other parties, because the end users demand local maintenance, they need service wherever they are in the world and this is not something that Corac should ever contemplate doing."


with regard to DGC, "We are getting several service companies interested", which implied to me that that was how that aspect was to be marketed.


that is why i said a concise synopsis of exactly what was going on would have been much more helpful to dick-shits like myself! ...... it still looks and reads as very muddly and imprecise .... i would hate to suggest that it was a good politician's presentation!

The underlying tone suggests they are anxious to keep in particular institutional investors happy in that progress to commercialisation will take some time, which is quite understandable. The down hole testing programme in a producing well appears to be taking longer than was planned and again one can understand why patience is required due to the costs and risks involved. My view is by the end of this year it will become clear whether or not their invention will be a commercial success.

Cynic, this was a shreholders AGM meeting, where a presentation was done by the Chairman, with the aid of slides.
The poster on ADVFN has made copious notes and passed them on for our benefit to give us information. It was not meant to read like a press release!

It seems some folks are never happy and want to be spoon-fed.

Halifax, from last year, live trials were planned in late 2008, this is still very much the case and everything is on track.
Further evidence of this will be when we get the first DGC order.
Also, the strong interest of service companies at this point is, i suggest, no co-incidence as we approach commercial deployment.

This technology, fully proven, must be worth 500m-1bn, imo
(can justify that on the figures given for ONE gas field, the example of which was given at the AGM)
right now, its 60m.
There lies the risk reward.
Not a suitable stock for all investors, I accpet, but for those who like a bit of risk which is mitigated by major partners on board, cash in the bank, modest cash burn, good institutional backing, other irons on the fire, a unique potential block buster of a tech in DGC, solid management, respected directors, then I suggest its worth a go.
imo.

Indeed, the service companies, as i understand it are the ones who will install the machines down the wells.
I believe the next thing to boost the sp will be the RNS for the first sale of units for the field trial, then (similar to drilling for oil) we should get a rise in anticipation of the results. The market currently considers enough risk is already in the share price, as reports of a failure will surely see the sp dive - the sp isn't underpinned by the sum of all the other parts (yet). I was considering waiting until a positive outcome of the first trial was reported before investing heavily, however with only 84m shares in circulation, it is quite illiquid, and buying any reasonable amount will be difficult as everyone will want some, for this reason, i can imagine the sp being completely re-rated should this RNS happen later this year, and i have been happy to, and will continue to stake build...

Taking a tumble?

wow! that's a bit of a clunk ...... wonder why ..... glad i took profits at 73 and had not been tempted back in

Marked down on very small volume?

Chart support around the 50p level, but still a mystery as to why the steep drop in the sp.

can't disagree, but then BLNX tanked as well on what looked like really good figures and forecast