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.

Tis interesting that a few companies are now delisting from AIM because they are so fed-up with the low rating of their sp.

ITIS Holdings was the latest to confirm this morning. I wonder how many others will do the same in the next few mnths. Apparently you can exchange your shares privately. It would be interesting if anyone has any experience of this.

FWIT I don't hold.

Exchanging shares privately does not create a market.

SP slipping again immediate future looks bleak.

I agree has a bit more to droop.

nice bounce..

Small director buy...
Barclays been buying too from under 3% to over 5%...
basically was way oversold with the potential, proven by some decent buying volumes over last few trading days - it has also been tipped as one to follow on a couple of popular sites, it will still need positive news to push on much further, me thinks, but nice to see some buying, nonetheless!

Gartmore has reduced its shareholding.Lack of newsflow is killing this one.

thought it was more that the news-flow killed it! (joke!?)

with the plans and partners Corac have got for DGC, this could well multi-bag from here,I'm adding more at these crazy prices.

Why would you tie up money now, when target date for further trials after modifications is late '09? This is on my watch list & has huge potential later, but cash can be put to much better use than lying dormant here, imo.

will not be dormant at all, imo, as new trials, partners, orders will shove sp up considerably long before year end, imo, dyor.

strong suspicions that you have said that sort of thing before, and lo and behold .....

funny thing that, cynic, a few shares seem to have fallen recently.....must be something going on..... a reason, eh?.....global recession anything to do with it?
know any great winners recently?.......

funny thing notlob, but general consensus is that there will not be much economic reciovery this year if any ..... it follows that your customary prognostication of pots of gold for CRA in just a few months is almost certainly well wide of the mark, and that still assumes CRA will have cured its technical problems.

by the way, though few shares have totally escaped unscathed, there are an awful lot that have not fallen 70%+ from their 2008 high.

cynic
I have suggested that CRA will not be dormant this year and that the sp will be up considerably before the year end.....not quite the same as 'pots of gold in a few months' but, hey, why let truth get in the way of anything.

.....talking of which, CRA do not have any technical problems, the delay is down to lead time on equipment to be installed with the dgc unit, it is 100% nothing to do with the dgc units itself, but I guess you can write and believe what you wish, even if you are 100% wrong.

funny thing is as well, cynic, that the bear market in small caps preceded the general economic melt-down by about a year, I suggest small caps may well improve before the economic recovery is hearalded by one and all.

still, we shall just have to see how it all pans out, best of luck to you!

as i hold CRA, am more than happy to be proven wrong in this instance .... meanwhile, the few short positions that i hold and/or have traded have unsurpisingly perfomed rather better

Fundraising announced this morning... Presentation organised by Corac/Baker Hughes next monday, meeting with global players to show benefits of DGC - (a no brainer to them in regards to payback in multiples of outlay)... I dont buy the 'theres planty of time to get in...' scenario, maybe there is, but the potential here is so massive, it can rise strongly at any time - a new JIP/DGC order, or decent IA order from Fu-sheng should see that, and you will be left wishing you had bought at 12/13p...
Gerry wants to get a couple more trials up and running rather than wait for first trial results - the industry may prove reluctant, but thats where BH will play their part...

Further shareholder dilution suggests strapped for cash, why not make an open offer to all shareholders at 13.05p? Raising 1m is the price of one DGC we were lead to believe, hardly worth the effort unless finances are very tight.

RNS Majedie Investments reduces its shareholding to below 3%.

I don't hold this, but never understood the excitement over a pump, down the hole or whatever . . . aren't they all put down the hole(?), otherwise they'd be restricted to draw oil from 30ft or so. ( yes, Gas a lot deeper, but such pumps must be available)
And as halifax mentions - if they don't need cash, why this dilution, which is not in the interest of retail shareholders,; although large investors are probably feeling pretty good, picking up more stock for 13p - - - but this begs the Q. How much did they think the stock was worth, those years ago?
In the meantime, I fail to understand why the gas-extraction industry isn't grasping this pump with open arms - to the extent [CRA] are havinig to fight "copy-cats" in Patent disputes - - - - yet I get the impression . . . it's all fairly quiet....
Surely a Trial needs only last a couple of days to witness the worth?
"Hans, is the gas flowing normally, what's the reading...?"
"Nine"
"Oh dear that's not very good"
"Nine nine, ze reading is nine
"Are you sure, this is usally below one.
"Yah, it's ten times the amount, pretty good huh?

(Now that is what I call a Trial - so, maybe the readings have been a little less.... )

sensible housekeeping to add another 1m to the coffers, and all placed with long term private investors.
well done, Corac.