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.

seems to be ticking down.

Up 10% today on good volume any news coming?

certainly double average volume, but that can be deceptive when you get left and right hand of an institution moving the stock around, or similar

Up 22% atm.
2517

there has been much excitement in the shares of this shitty little company in the last couple of days, and again this morning ...... no announcements, but it would be nice to think there was something stunning in the offing

cynic, ridiculous comment about Corac.

yes there is something in the offing, its called DGC, its the reason Baker Hughes, ENI, Repsol etc etc are all on board.

until proven otherwise, it is a shitty little company (whose shares i hold) ..... the companies involved have been "on board" for quite some time, so with no comment from CRA, the significant increase in sp (? +50% in last 10 days?) has no obvious explanation ..... i confess i should have checked volumes which may have given minor insight

'unless proven otherwise, it is a shitty little company'

don't be so stupid. And just because you hold shares in the company, but clearly don't understand a thing about them, I'm afraid that does not give you any greater 'right', in fact, it just compounds your errors.

Ofcourse the companies have been on board for some time, this is a long term project, or did you think it was a one week thing?

re significant increase in sp, clearly, when a share has been wacked down beyond (imo) all reason, then a few pence increase will show up as a large % increase.

fyi, a large over-hang was cleared on Friday, hence buying pressure produced a rise, simple really.

As you have such a low opinion of the company, its achievements and its partners, I am surprised you continue to hoild the shares, unless you feel holding gives you some sort of insight to post pure drivel.

your abuse is fascinating and revealing ..... please continue to post similar for all our enlightenment and amusement

very droll, cynic
the only abuse that has been posted is your abuse of Corac, a company which you profess to hold but clearly know very little about.

I assume your dry one-liners response is because you can't actually respond with anything sensible or rational regarding Corac.

Still, given the nature of your original post, perhaps I should'nt be too surprised by that.

Have a good day.

i happen to like the oil recovery and support sector .(like PFC especially) ... CRA just may get it it right, in which case it will be an exciting company (so might BRR in another field - hahaha!) ..... meanwhile, i do not need to analyse what the CEO had for breakfast for my only real interest is whether sp will rise or fall

Up 30% atm.
2517

Talk of a bumper revenue contract lifts Corac Group .... reported from Express

Is anyone is going to the presentation later today???
Be interesting to put faces to names etc!

Yes

See you there then...

*waves*

if DGC works then CRA will be a 1bn co, end of story.

From being quite positive earlier CRA has now turned quite negative.
2517

Along with most of the market it seems.

shakey shakey