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.

Gone through the 50DMA & now heading for the 200 DMA at 63/64p. Historically good support between the two.

Corac just touching its 200 DMA - my target price to buy. Hope it will bounce off this.

all interesting stuff after a lacklustre week or two .... now +8.5 at 72

all gone very soggy again, per the chart below ..... probably and hopefully just on lack of news rather than anything sinister ...... however, note that 50 dma has been challenged and failed, so perhaps will fall back to 200 dma at about 65 before rallying

"On 21 July 2008 Corac's Employee Benefit Trust ('EBT') granted 300,000 share options to Philip Newell, Corac's Finance Director who joined the Company on 26 March 2008. Of these 173,900 are in the Enterprise Management Incentives scheme and 126,100 in the unapproved scheme. They are exercisable, subject to the achievement of performance conditions, at 69.0 pence per share between 21 July 2009 and 21 July 2018."
I'm a bit surprised that they didn't set the exercisable price a bit higher than that. Doesn't seem much of an incentive to me, given that the sp regularly fluctuates around that price already.

A consolidating triangle... just need some news.

Gradually drifting to the 200 DMA (currently approx 66p) which it has rarely fallen far below. Possibly a buying opportunity for those that think the technology will be profitable. Am not currently holding but becoming more interested now.

latest RNS, while vaguely encouraging, did NOT say that the filed trials etc were all going great guns ..... mere conservatism, or hiding glitches?

In this market the news of further delays can only be taken as negative.

did i miss something? .... i saw no mention of any delays

Repsol trial delayed in Argentina was to be first, ENI trial will not happen before first quarter of 2009 according to RNS.

we obviously saw different announcements!

completely oversold imo, released interims on a bad day at the office, still expecting another order from Repsol, and announced working in conjunction with a "major" oil/gas service supplier. Gearing up for big things and must be a mountain of upside from here. The design was altered slightly to accomodate the well in Italy hence delay of testing to next quarter - its all still happening, except now you can get in for half price of two months ago... im adding

nevertheless, halifax's comment is valid ..... it was extracted from the interim report

BigTed----very tempting to average down on CRA (paid 72p for mine) as it is with many other aim stocks I hold, but I feel there are better (blue chip) opportunities around and this may be the time to start picking some of them up, so I bought into BT.A this morning. Good luck all.
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very easy to get tempted, but this boiunce may easily prove short lived as is certainly very fragile, certainly until the US nincompoops and self-serving politicos get their acts together

also, as nothing of any significance is likley to emerge from CRA for at least 6 months, there is surely no hurry to buy, though i shall continue to hold

hmmm possibly, however, with only 86m shares issued and the possibilities that follow a successful trial, it will only take a rumour of the order from Repsol for their trial and the so will surely take off again regardless of the condition of the markets at the time. Don't forget market cap is a paltry 40m Eni I believe have identified a field where, upon successful trial would want a further 12 machines, and thats just for starters without the other jips! Do the maths...

but that always assumes CRA's magic machine actually performs as on the tin

BigTed-----volume up as is the sp, looks like you were right to add.
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