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.

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.

volume increasing nicely today
think we will move up soon!

Interesting chart over the last five years & hugely cyclical imo.
If the sp moves through the 200 DMA, which it should if the last 5 years are anything to go by, then +/- 60p should be the target. I agree with oilyrag that purely on chart analysis, the sp should increase by 60%+, BUT the increase is often short lived, presumably due to profit taking.

Looking at the opening spread at 07:10 am it looks like they may be opening up, up 1.5p at 36.5 mid.

As you can see from the chart 200dma in green is showing a definate trend over the last 3 years. The peaks rising 5p per year. This year they are no longer just a speculative investment, they are now a producer with a fabulous product that is going to revolutionise the oil and gas exploration business. What price is this years peak and will it stay up there?

very nice looking chart, oilyrag, thanks
looks set to run up....soon?.....

Good buying last couple of days, would appear that one broker has plenty of stock as he is trading at 35.46p on every deal even when sp is up. Should have moved up by now.

Good buying today again.

Large late deals plus plenty of broker to broker trades and yet the price remains static. Last year the main jumps were 2 lots of 5p. Hope for some of that soon.

increased activity and interest will hopefully translate into some upward movement soon
results out in just over 2 weeks, so that could be a spur for some nice rises! Fingers crossed.

Corac are recruiting, perhaps not a fantastically big deal in itslef, but check out the job description for the second post. Corac not mentioned by name, but with Down hole gas compression in there, you can bet 100% this is Corac.

visits to Spain and Argentina indicate Repsol are moving strongly ahead with DGC. In Argentina, Repsol own the Loma La Lata gas field. This is the largest field in Argentina, supplying some 30%+ of Argentina's need.....but the field is having problems with falling pressures......an ideal candidate for Corac's DGC.

Clearly they are planning for DGC to move into the live trials, which indicates the loop tests must be going reasonably well.

This is good news, DGC is a killer billion's technology and it sounds like Corac are making excellent progress

results out soon may tell us more, but market cap, imo, is pitiful , esp. as CRA have the Industrial Air division, which is selling compressors right now and set to go on a strong growth curve.
http://www.thecareerengineer.com/cand-viewjob.php?jid=195974

Draughter


Employment Type Contract
Location London West, West London
Industry Sector Mechanical Start Date ASAP
Salary/Rate 30 per hour
Reference 126390AMS
Date Advertised 21-02-2007 - 14:25

Description
Our client is a Research and Development company who are currently developing an innovative downhole gas compression system for the Oil and Gas industry.
They require a Solidedge Draughter to join their busy team.
The successful applicant will have experience of rotating machinery, turbo machinery and / or electrical motors.

To apply for this position, candidates must be eligible to live and work in the UK

An exciting opportunity to be part of an innovative downhole gas compression system for the oil and gas industry.

Our client is a Research and Development company who are currently developing an innovative downhole gas compression system for the Oil and Gas industry.
They require a Solidedge Draughter to join their busy team.
The successful applicant will have experience of rotating machinery, turbo machinery and / or electrical motors.

To apply for this position, candidates must be eligible to live and work in the UK


MatchTech Group Plc is acting as an Employment Business in relation to this vacancy.





http://www.justengineers.net/vacancies/vacancy-details.asp?icid=D169-2222000-158D&id=351777


An opportunity to work on a groundbreaking project for the Oil and Gas industry.

Our client is a research and development organisation who have been commissioned to design a down hole gas compression system for the Oil and Gas Operators.
They currently require an experienced Project Engineer wit Well Completions / Well Engineering experience and strong oil and gas experience.They will need to liaise with completions consultants and coordinate the work of sub-contract production analysts
This role may include travel to Spain and Argentina within 4 weeks of starting the position.


MatchTech Group Plc is acting as an Employment Business in relation to this vacancy.

On the move at last.

And on fairly thin volume.
8 trades so far, 64000 shares traded.
I still think that our assumptions are correct and I am happy to hold. The only thing that I have to decide is whether the sp will run out of steam before the 60p mark. I might put an auto sell on the system for 55/56p. Catching the top is always tricky, imo.

well, there is 40% + upside before we hit the 55/56 area, so I will worry about that when it happens!
volume increasing, looking good for a sustained run, imo

Are the mm's low on stock...? i could only get a top up of a measly 2500 a few minutes ago, couple of bigger trades starting to come through, and not a sell in sight, onwards we go...

Same on Selftrade. No on-line shares available. Only phone trades.

sounds like the 275K trade at 34p on Friday cleared any overhang
Going a lot higher, imo.